Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Azul's board of directors oversees the corporate approach to managing GHG emissions, through the review and guidance of the company's strategy and annual budgets, in which the company's CFO also participates in the supervision.
Azul's involvement in the policy formulation process is important for the company's success and alignment of its business strategy. Azul is subject to various laws and regulations in Brazil and other locations in which it operates. Environmental policy and regulatory issues, including climate change, are coordinated by the legal department, corporate sustainability department and institutional relations department. These teams oversee the company's climate change strategy and implementation and work to ensure that engagement activities with the trade associations we participate in are consistent across all operations.
Our membership in trade and industry associations allows us to gain a better understanding of issues at the heart of the aviation industry and the business community and jointly advocate for public policies that encourage an efficient and competitive industry. Azul representatives from the corporate sustainability department participate in the IATA Sustainability and Environment Advisory Board (SEAC), which advises the Board of Governors, the Director General of IATA and other bodies on all matters related to sustainable development of aviation. SEAC acts as the focal point within IATA on sustainability and environmental issues.
We believe that our active participation in trade associations can play an important role in supporting the airline industry in tackling climate change.
We are committed to zeroing our carbon emissions in order to become Netzero by 2045. On the way to this achievement, we have increasingly evolved in our environmental practices and engaged in several initiatives:
- We integrate the European Emissions Trading System (EU ETS) and the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
- In 2021, we carried out a survey of climate and environmental risks based on the Task Force On Climate-Related Financial Disclosures (TCFD).
- We joined the Carbon Disclosure Project (CDP), the GHG Protocol, the Science Based Targets initiative (SBTi), aimed at managing emissions and fighting climate change. In 2021, Azul committed to set a long-term science-based target to reach net-zero value chain GHGs emissions.
- We are part of the B3 Corporate Sustainability Index (ISE B3).