AMR Corp., Parent of American Airlines, Joins Environmental Initiative
AMR Corporation, the parent company of American Airlines (AA), announced today its participation in a major environmental initiative, becoming the first airline company to adopt the ten-point code of corporate environmental conduct known as the Ceres Principles. Culminating after several months of dialogue between AA and the Coalition for Environmentally Responsible Economies (Ceres), the announcement is viewed as a significant step in environmental progress and innovation in the aviation industry.
Ceres, a coalition of investors, public pension trustees, foundations, and environmental, labor, and public interest groups, encourages companies to endorse and practice the Ceres Principles in an effort to catalyze meaningful progress toward a more ecologically sustainable economy. The Ceres Principles address issues such as energy conservation, reduction and disposal of wastes, and management commitment. Ceres Coalition Members include over 40 groups such as the National Resources Defense Council, Friends of the Earth, AFL-CIO, the New York City Comptroller's Office, and the Interfaith Center on Corporate Responsibility. Collectively, the Ceres Coalition represents over $200 billion in investment assets.
"American Airlines has a long-standing commitment to environmental excellence, and applauds Ceres for articulating a set of principles we can use to gauge our continuing improvement and achievement," said Don Carty, Chairman and CEO of American Airlines. By endorsing the Ceres Principles, AA strives toward continuous environmental improvement in all of its operations, and commits to annually reporting on that progress through the standardized disclosure framework developed by Ceres and its constituents. Participating companies work with Ceres on a broad range of environmental and sustainability issues, in a collaborative and results-based manner.
The aviation industry's distinct environmental challenges include local noise and air pollution, hazardous waste management, fuel efficiency, and global warming. With air travel increasing at a faster rate than any other mode of transportation in the United States, these challenges are likely to increase in significance, making it even more important for leading companies to be accountable and open through inventive new partnerships with external stakeholders.
"We expect this relationship to stimulate progress and innovation in American's operations and the larger aviation industry," said Robert Kinloch Massie, Ceres Executive Director. "The Ceres/AA partnership will serve as a model for other companies seeking to improve their environmental performance while improving their bottom line."
One of the largest companies to endorse the Ceres Principles, AMR Corporation, parent of American Airlines, earned $19.2 billion in sales and employed over 115,000 people in 1998. The dialogue process that led to the AMR/Ceres partnership was brokered by Walden Asset Management, a shareholder of AMR and a division of current Ceres participant United States Trust Company Boston. AMR joins more than fifty companies that have previously endorsed the Ceres Principles since the coalition's founding in 1989, including Polaroid, Sunoco, Coca Cola, and BankAmerica.
Related Ceres company: American Airlines