Dublin-headquartered SMBC Aviation Capital is to sell Southwest Airlines over 400,000 carbon credits from its portfolio of projects.
SMBC, ranked by some as the world’s second-largest aircraft leasing company, said its carbon credit portfolio "consists of energy-efficient cookstove credits that align with many of the United Nations’ Sustainable Development Goals (SDGs)", meaning Southwest gets carbon credits "certified by either Gold Standard or Verra over a five-year time-frame from SMBC Aviation Capital’s funded projects in Africa and Central America".
"Southwest continues to make sustainability a priority and we are delighted to partner with them as the first customer of our newly-established carbon credit programme," said David Swan, chief operations and sustainability officer at SMBC.
"Expanding our existing partnership with SMBC Aviation Capital supports these projects that are expected to help mitigate carbon while contributing positively to local communities in Africa and Central America," said Chris Monroe, the carrier's senior vice president finance treasury and sustainability.
SMBC said it is "the first aircraft leasing company to develop a carbon credit programme", which it announced with an initial investment of $53.3 million in September 2022.