Victor's Climate Action Initiatives 2019

A Sustainable Future For Private Aviation #beyondoffset

Victor’s Climate Actions – A First For The Industry

Introducing #beyondoffset – And How You Can Make An Impact

The Facts Behind Sustainable Fuels – Interview With Neste CEO

At Victor, we are not content with becoming one of the fastest growing private jet charter companies on the planet. We want to define a sustainable future for private aviation.

As CEO, my first step is to acknowledge a private jet produces up to 20 times more carbon emissions per passenger mile than a commercial airliner. It’s an eye-watering statistic few dare to admit. Last year, we introduced a carbon offset scheme where 25% of flights booked with Victor flew carbon neutral. It was a start but not nearly enough.

We now guarantee to offset carbon emissions on every Victor booked flight by no less than 200%. So every time you fly Victor, the net effect goes beyond carbon neutral. We’ve mandated it, and Victor will pay for it, setting a new benchmark for the private aviation industry.

Of course, we want you to do more, and there’s no limit to the amount you can offset. By adding just 0.3% to the cost of your charter, you can offset 400% of your emissions. For those making this commitment, it’s a small contribution, acknowledging that the privilege of flying private comes with responsibility.

Offsetting is just part of our climate action solution. We are working with RocketRoute to harness their advanced flight planning algorithms, to calculate and reduce fuel burn and in turn reduce carbon emissions. We are also partnering with Neste, the world’s largest producer of sustainable renewable fuels, leading environmental scientists and the European Business Aviation Association, to promote awareness and ultimately drive adoption of waste-to-fuel solutions and electrification.

THIS IS OUR TRUTH. W H AT I S YOURS?

Victor has the opportunity to influence other business leaders to support our movement, because they fly private, and to inspire them to adopt a similar initiative and go #beyondoffset with their own business. For further information, please visit flyvictor.com or if you’d like to reach out to me personally, please connect via LinkedIn. It’s a bold statement for me to say you don’t always have to fly private, but if you do, then become a member today and #Flywithpurpose #Flyvictor #Beyondoffset

Join us today - flyvictor.com +44 (0)207 384 8550 | +49 89 242 18 236

Clive Jackson CEO and Founder Victor

Victor’s Three Climate Action Initiatives THREE REASONS TO CHOOSE US Whether you need a single trip, a group charter or a complex tour, we offer the ultimate on-demand solution for all your charter requirements.

• Unrivalled Charter Quotations

Victor is the only on-demand jet charter provider to offer fully transparent quotes, disclosing actual operator and aircraft details before you book.

Founded in 2011, Victor’s mission is to make aircraft charter easier and faster than ever before. Our awardwinning, innovative approach combines on-demand booking technology, transparent pricing and exceptional 24/7 service.

With direct access to top-rated business aircraft, private jets, turboprops and helicopters, we offer an unrivalled global selection of aircraft.

Our service is on-demand, meaning no membership fees and no hidden charges. In addition, through our frequent flier programme all customers are able to earn Alto points on every flight, which can be used to reduce the cost of future flights. Unlike fractional ownership programmes or subscription models that require significant upfront commitments, you only pay for the trips you fly, when you need them, at the best possible price.

“

Victor was the first charter company to bring transparency and accessibility to the market of private aviation. After almost 10 years, 77% CAGR (2012 to 2018) and numerous fast track awards, the company is now leading the way to become the world’s most environmentally responsible company in private aviation.

Call us, email us at climateaction@victor.com or go online to flyvictor.com and join Victor today. And for individuals and corporate flyers, we want you to commit to #flywithpurpose and #flyvictor.

“

You can also choose to go beyond 200% offset. Your commitment will make a huge difference and, in the context of your charter flight, the costs are negligible.

Clive Jackson, Victor CEO and Founder

04 • A sustainable future for private aviation

Safety and security are paramount, and as an Argus-approved charter provider, we work with the top AOC-certified operators. Our customers also benefit from Alto, the world’s first frequent-flyer points programme for private jet charter.

• Unparalleled 24/7 Service

Victor is available 24/7 by phone, web or app. Registering is free and you are assigned a Personal Account Manager to handle all your requirements.

Bookings are covered by Victor’s Consumer Protection and payments for flights (less booking fees) are held in a separate HSBC client deposit account until takeoff.

• Market-Leading Environmentalism

Victor is committed to transforming the world around us. Every booking includes a minimum of 200% offset, equivalent to approximately 0.3% of the booking cost. If they wish, clients can offset to a higher amount through our Unlimited Offset Programme. We are also working actively to reduce emissions and increase sustainable fuel usage.

Victor is committed to transforming private aviation and we are passionate about sustainability. We pursue our commitment to climate action in three ways.

1 CARBON OFFSETTING

In 2018, Victor introduced a carbon offset scheme whereby 25% of our flights in Europe flew carbon neutral. Now, every Victor booking includes a minimum of 200% offset, although clients can top up to a higher level of 400%, 800% or more if they wish.

A carbon offset negates the same amount of carbon emissions you release in the atmosphere, with a carbon credit equal to one tonne of CO2. The offset is created by supporting clean energy projects, such as the reduction of deforestation in Zambia and the installation of biogas plants in China and India.

2 REDUCING FUEL BURN

Victor is working with its sister company RocketRoute, a leading global flight planning provider, in order to calculate emissions, optimise routes and reduce fuel burn.

After each flight, RocketRoute records the flight plan filed by every operator. This provides Victor with a highly accurate, audited view of actual fuel consumption for its credit calculations.

In addition, Victor compares the actual flight plan data with an optimal flight plan that is simulated

by RocketRoute just prior to takeoff, in order to pinpoint fuel burn inefficiencies. RocketRoute and Victor then feed these insights back to the operators, in order to help them reduce their emissions.

3 SUSTAINABLE

FUELS ADOPTION In partnering with Neste, the world’s largest producer of sustainable biofuel, Victor is on a mission to promote awareness of waste-to-fuel solutions and to drive their adoption within the private aviation industry.

Waste-to-fuel solutions limit methane-emitting landfill and are considerably more environmentally beneficial than crop-to-fuel alternatives, which almost always results in greater greenhouse gas emissions inefficiencies.

“

The challenges of SAF (Sustainable Aviation Fuels) are awareness, perception, availability and price.

This will take time and more than just Victor’s efforts with the consumer alone. Adoption will require innovation, distribution, government support and of course enduring commercial partnerships between the producers and distributors.

“

Victor – Setting The Standard In Private Jet Charter

Mike Ryan, Victor Co-Founder and Head of Supply

05 • A sustainable future for private aviation

“Victor’s founder and CEO Clive Jackson has set a new benchmark for the private aviation sector. We are delighted to see them taking a bold leadership position. The EBAA recognise and endorse their willingness to openly address the extent and scale of aircraft emissions and commend their commitment to mandate and absorb the associated costs of carbon offset credits that go well beyond carbon neutral.

Encouraging their flying customers to contribute on equal terms shows a commitment to drive behavioural change and to influence and inspire others to follow.

We look forward to working together with Victor to champion this exciting initiative, which fully supports the Business Aviation Commitment on Climate Change (BACC), established in 2009, which sets out three milestone aspirational goals: An improvement in fuel efficiency of an average of 2% per year from 2009 until 2020 Carbon-neutral growth by 2020 A reduction in total CO2 emissions of 50% by 2050 relative to 2005 There are four key mechanisms towards achieving those goals: technology (which encompasses sustainable aviation fuel), operations, infrastructure and market-based measures.”

Beyond Offset – You Can Make A Difference PLOTTING THE PATH OF EMISSIONS No policy baseline Global total emissions 65 GtCO2e (range: 60-70)

70

70

50

GTCO2e

GTCO2e

2C pathways Global total emissions 40 GtCO2e (range: 38-45)

60

60

Current policy scenario Global total emissions 59 GtCO2e (range: 56-60)

40

50 40

1.5C pathways Global total emissions 24 GtCO2e (range: 22-30)

30

30

20

20 2015

2020

2025

2015

2030

2020

2025

2030

Source: Emissions Now Until Future. Source: UN Environment Emissions Gap Report

The above graphs demonstrate the true magnitude of the climate change challenge faced by the planet. Global greenhouse gas emissions show no signs of peaking, however the data on the right hand graph shows that emissions in 2030 need to be approximately 25 percent and 55 percent lower than in 2017 to put the world on a least-cost pathway to limiting global warming to 2C and 1.5C respectively.

Unless global government policy ambitions are significantly increased before 2030, exceeding the 1.5C goal is unavoidable.

TURN ENVIRONMENTAL CONCERN INTO CLIMATE ACTION

“We can’t wait for governments to act. If we care about future generations, it’s on us to step up” What Is #beyondoffset?

1 Beyond Offset is a global

movement for positive and meaningful environmental action, driven by business owners.

2 Going Beyond Offset means

doing more than simply achieving carbon neutral.

The aim is to give the planet a real chance at reversing environmental damage.

Professor Gail Whitman Rubin Chair in Sustainability, Lancaster University “The Arctic sea ice is a simple and visible barometer of global risk and climate change which will affect us all, how we live our lives and our global economies. The Arctic is warming twice as fast as the rest of the planet.

At anything above the +1.5C emissions target, we will likely lose Arctic sea ice, triggering catastrophic effects on the world’s climate system and increasing extreme weather events far away from the North Pole.

3

In promoting organisations and individuals that own climate issues around them, the movement hopes to inspire others to follow suit.

4 Joining the movement is

simple. Either tag your climate action #beyondoffset on Instagram or Twitter or visit beyondoffset.org.

Climate Research shows that the extreme loss of Arctic sea ice is directly linked to CO2 emissions. For every metric ton of CO2 we add to the atmosphere, we lose another three square metres of sea ice.

It is encouraging that business leaders like Clive Jackson are prepared to use their power of influence, skills and resources to use his own company to set a benchmark for tackling CO2 emissions within such a high-profile industry, which has largely ignored the issue.

A collective effort is important, regardless of industry, and we need to all unite. We need more business leaders to wake up to this climate emergency and fundamentally address the world’s CO2 problem and

06 • A sustainable future for private aviation

5 #beyondoffset works with any

private or public company, association or programme that is focused on achieving the Beyond Offset aim.

6 If you are doing something

similar in your company, please get behind #beyondoffset and make your voice heard.

not wait for governments to act. We must have the courage to go beyond offsets and radically re-envision the world of mobility and act now to help make a difference.”

Professor Gail Whiteman is Director of the Pentland Centre for Sustainability in Business, a scientific member of the European Union’s Ice, Climate, Economics – Arctic Research on Change project, and Professor-inResidence at the World Business Council for Sustainable Development.

Professor Whiteman created the Arctic Basecamp at Davos 2017 which is now an annual event and she is also a contributor to the World Economic Forum’s online Agenda.

Spotlight Interview With Neste’s CEO

Peter Vanacker President and CEO of Neste Corporation WHAT DO YOU THINK OF THE UK GOVERNMENT’S PLEDGE TO BECOME THE FIRST OF THE G7 NATIONS TO ACHIEVE ZERO-NET EMISSIONS BY 2050?

The climate crisis is the biggest challenge of our times, and the clock is ticking. With the pledge, the United Kingdom shows a great example to others in setting ambitious climate targets. If we want to achieve concrete results and create a path towards zero net emissions, we need to embrace all possible solutions and reduce emissions in all sectors.

WHAT ARE THE MEASURES TO REDUCE EMISSIONS FROM AVIATION? Companies in the aviation industry are collaborating and introducing various measures to reduce emissions. Improvements in engine technology, development of newer and more efficient types of aircraft as well as the use of sustainable aviation fuels are all ways to decarbonise aviation.

Sustainable aviation fuels offer considerable potential both in the short and long term. Instead of consuming fossil crude oil, the fuels are produced from renewable and sustainable raw materials.

WHAT IS NESTE’S ROLE IN SUSTAINABLE AVIATION? We are determined to serve our customers and the aviation industry in reducing carbon emissions. Our Neste MY Renewable Jet Fuel™ is a highperforming sustainable aviation fuel, which has been tested in over 1,000 commercial flights. It can reduce up to 80% of greenhouse gas emissions over its lifecycle compared to conventional jet fuel. Beyond our current solutions, Neste is exploring new technologies and raw materials to further grow the potential of our solutions to meet the growing demand in the aviation sector.

We are also experts in calculating greenhouse gas emissions and providing renewable diesel to ground services. These are examples of further services we offer to make aviation sustainable.

HOW MUCH CAPACITY DOES NESTE HAVE AND WILL WE SEE WASTE-TO-RENEWABLE FUEL IN OUR LIFETIME? Our product is already in the market and we are investing considerably in the production capacity. To meet the increasing global demand, we have ramped up our capacity to produce up to 100,000 tons of renewable jet fuel per year. And in 2022, we will have the capacity to produce over 1 million tonnes annually. Currently we can use more than ten different renewable raw materials. Waste materials, such as used cooking oil and animal waste fat, are already being used for the production of sustainable aviation fuel.

07 • A sustainable future for private aviation

HOW DOES RENEWABLE JET FUEL WORK WITH EXISTING FOSSIL-BASED AVIATION FUEL? Currently, sustainable aviation fuels offer the only viable alternative to fossil liquid fuels for powering aircrafts. Our Neste MY Renewable Jet Fuel is a ‘dropin’ solution, meaning that it is fully compatible with the existing jet engine technology and fuel distribution infrastructure. It can be blended with fossil jet fuel and it complies with the strict safety and quality requirements of the aviation industry. Therefore aviation is well positioned to substantially reduce emissions already today.

Key facts about Neste 1 Neste is the business of

combating climate change and driving circular economy.

2 It is the world’s largest

producer of high-quality renewable diesel refined from waste and residues with the capacity of 2.9 million tons annually.

3 The company is also

introducing renewable solutions to the aviation and plastics industries.

4 Neste was selected the

world’s 3rd most sustainable company on the Global 100 list in 2019.

5 It is among the sustainability

leaders in the Dow Jones Sustainability Indices.

For more information on Neste and commitment to sustainability, please visit www.neste.com

Sustainability Snapshots EMISSIONS BY INDUSTRY 17% Forestry

14% Agriculture 1% Rail, ships & others 2% Aviation

13% Transportation

19% Industry

10% Road 3% Waste 8% Buildings

26% Energy supply

.04% Business aviation

Source: European Environment Agency

EMISSIONS BY ACTIVITY

0.03 tonnes Making a pair of jeans

0.1 tonnes Average flight per passenger

Most stakeholders acknowledge civil aviation’s contribution of 2% of global CO2 and 3% of GHG emissions, as per the IPCC report estimates. The business aviation contribution is estimated at 2% of aviation emissions or 0.04% of global emissions.

EMISSIONS BY PRIVATE AIRCRAFT

58.6 tonnes 2.2 tonnes 6.0 tonnes Pet food for Large petrol/ Impact of one an average diesel-powered child per parent dog per year car per year per year

3.0 tonnes Small aircraft (up to 2 passengers)

14.3 tonnes Mid-Size aircraft (up to 8 passengers)

54 tonnes Large aircraft (up to 12 passengers)

London, England → Nice, France

Helsinki, Finland → Madrid, Spain

Montreal, Canada → Berlin, Germany

Source: Garfors.com

Source: Victor

CARBON CAPTURE, CARBON RELEASE AND SUSTAINABLE AVIATION FUEL GAINS

= 2.6

= 260

Tonnes of CO2 captured by mature trees per year per acre

One Acre Squared

Emission Reductions from Sustainable Fuel

Tonnes of CO2 released through burning of rainforest to clear land, per acre

One Acre Squared

Source: Trees in Trust

Source: OVO Energy / Cool Earth

18%

per flight using a 30/70 blend of fuel to sustainable fuel

80%

per flight using a 50/50 blend of fuel to sustainable fuel

Source: EBAA / Euro control

THE EFFECTS OF RISING TEMPERATURES 1.5°C

Water Scarcity

Extreme Heat

Increase in global population exposure to water scarcity and severe drought

Global population exposed to severe heat at least once every five years

403.5m at 1.5°C 582.5m at 2°C

14% at 1.5°C 37% at 2°C

Species Loss: Vertebrates

Species Loss: Plants

4% at 1.5°C 8% at 2°C

8% at 1.5°C 16% at 2°C

2°C

Marine Heatwaves

Ice-free Arctic

Coral Reefs

Flood Damage

Increase in global marine heatwave days per year

1 every 100 years at 1.5°C 1 every 10 years at 2°C

Further decline in coral reefs

Annual losses from rising sea levels

70-90% at 1.5°C 99% at 2°C

$10.2tn at 1.5°C $11.7tn at 2°C

16 at 1.5°C 23 at 2°C

Sources: Breakthrough – National Center for Climate Restoration (Australia), Carbon Brief

WEALTH DEMOGRAPHIC FORECAST Predicted growth

22% UHNW 5.26% Total population

2018

2023

FLIGHT FORECAST European private aviation

European commercial aviation inc. private

2,000 flights / day set to rise to 2,900 by 2030

37,000 flights / day set to rise to 55,000 by 2030

Sources: KnightFrank, Worldometers

+44 (0)20 7384 8550 522 Fulham Road, London, SW6 5NR flyvictor.com

Source: Victor / Eurocontrol and EBAA

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