Climate Change Data

Investment Vehicle 1 Limited (IV1L)

Climate Impact & Sustainability Data (2023)

Reporting Period: 2023

Environmental Metrics

Total Carbon Emissions:Not disclosed
Scope 1 Emissions:Not disclosed
Scope 2 Emissions:Not disclosed
Scope 3 Emissions:Not disclosed
Renewable Energy Share:30% (MRO solar energy)
Total Energy Consumption:Not disclosed
Water Consumption:Not disclosed
Waste Generated:Not disclosed
Carbon Intensity:14% lower compared to 2022, 26% lower compared to 2019

ESG Focus Areas

  • Greenhouse gas (GHG) emissions reduction
  • Waste management
  • Human talent development and well-being
  • Social development
  • Noise pollution reduction
  • Financial stability
  • Customer promise fulfillment
  • Operational excellence
  • Communication
  • Accessibility
  • Business continuity
  • Natural resource efficiency
  • Ethics and governance
  • Biodiversity
  • Supply chain risk management
  • Human trafficking prevention

Environmental Achievements

  • 26% reduction in carbon emissions per passenger transported compared to 2019
  • 21% reduction in absolute emissions compared to 2019 while increasing passenger numbers by approximately 5%
  • Reconfigured 104 aircraft in less than 2 years, offering 20% more capacity per aircraft and reducing CO2 emissions by an average of 15.35% per passenger
  • Recycled an average of 1,089 kg of waste from aircraft cabin reconfiguration (62% of total waste)
  • Transported 11,843 kg of waste from Galapagos Island for recycling
  • Offset 694,817 tons of CO2 through carbon credit purchases (75% of domestic emissions in Colombia, 15% of total group emissions)

Social Achievements

  • 76% employee engagement score (7 percentage points higher than 2022)
  • 14,387 people positively impacted through partnerships with 18 social organizations
  • 4,476,243 LifeMiles donated by members for social projects
  • 14,466,301 LifeMiles redeemed for beneficiary tickets (USD 477,388 investment)
  • First pilot course exclusively for women graduated
  • Launched “The sky is theirs” scholarship program for women pilots
  • Hired first employee with intellectual disability through Best Buddies Foundation
  • 741,800 passengers with special needs transported

Governance Achievements

  • Improved Moody’s rating from B3 to B2
  • Fitch Ratings assigned a “B” rating with a “stable” outlook
  • Achieved ISO 14001:2015 recertification in several stations and work centers
  • Risk management area updated to align with ISO 31000

Climate Goals & Targets

Long-term Goals:
  • Substitute most single-use plastics
  • Increase recycled waste percentage
  • Advance changes to manage digital transformation impact on roles
  • Consolidate strategies to attract and develop global talent
  • Develop leadership as a capability
  • Meet financial goals in business plan
  • Switch 40% of vehicle fleet to electric cars
  • Achieve gender equity in senior management
  • Review and adapt physical facilities with DE&I perspective
Medium-term Goals:
  • Review onboard service processes for circular economy
  • Develop eco-designs from waste
  • Replace single-use plastics
  • Achieve rainwater use in MRO
  • Adopt data analytics in talent management
  • Install talent and leadership culture
  • Combine DE&I strategy
  • Achieve best-in-class unit costs
  • Improve onboard service for business class
  • Consolidate fatigue system
Short-term Goals:
  • Increase non-hazardous waste recycling by 42%
  • Increase recovered hazardous waste by 80%
  • Define indicator for single-use plastic reduction
  • Merge leadership assessment, succession management, and development plans
  • Strengthen high-performance culture
  • Maintain profitability through revenue management and cost control
  • Implement lounge and fast lane services in Madrid and Barcelona

Environmental Challenges

  • Maintaining 2023 profitability levels through cost optimization
  • Managing deferred maintenance items
  • Minimizing delays
  • Growth of cargo capacity putting pressure on yields and occupancy factor
  • Aeronautical sector instability and regulatory changes
  • Cyber-attacks
  • Cost-efficient sustainable aviation fuel (SAF) production
  • Collaboration with stakeholders on accessibility
Mitigation Strategies
  • Continuous monitoring of financial results and projections
  • Implementation of LEAN culture and daily management system
  • Strengthening commercial cooperation agreements and strategic alliances
  • Updating policies, standards, and guidelines for cyber-risk mitigation
  • Participating in roundtables on Colombia’s energy transition
  • Establishing an external accessibility committee
  • Implementing technological innovations to improve accessibility

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement
  • Focus on process optimization, fair and equitable agreements, transparent communication, and rigorous contract fulfillment.

Climate-Related Risks & Opportunities

Physical Risks
  • Extreme weather events at airports and destinations
Transition Risks
  • Political and legal risks, market risks related to Scope 1 emissions
Opportunities
  • Sustainable aviation fuel (SAF) acquisition, green bond issuance

Reporting Standards

Frameworks Used: GRI Standards

Certifications: ISO 14001:2015, ISO 27001

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

  • Not disclosed

Not disclosed

Sustainable Products & Innovation

  • Amenity kits with recycled materials, reusable bowls, cloth bags for blankets, eco-friendly paper for printed materials

Awards & Recognition

  • World’s most punctual global airline (Cirium)
  • Best frequent flyer program (USA Today)
  • Airline Turnaround of the Year (CAPA)
  • Best cargo airline in the Americas (Air Cargo News Awards)