More and more companies now have to adjust their businesses with the legitimate environmental concerns and the latest company to do so is the aircraft engine manufacturing behemoth Rolls-Royce Holding (OTCMKTS:RLLCF).
Last week the company announced that it is going to create products that are going to help the company become a zero net emissions entity by the end of the current decade. Over the course of the past month, the Rolls Royce stock has also gathered strong momentum and ended up clocking gains of as much as 200%. In this situation, it could be a good idea for investors to take a bit more interest in the company’s efforts to be environmentally responsible.
In its statement last week, the jet engine manufacturer stated that it has accelerated the plan to become a net-zero emissions company and went on to reveal that it has other goals as well which will have a major impact on the worldwide economy becoming zero net carbon by around 2050.
However, as far as its own products are concerned, the company is looking to come up with civil aeroplane engines which are going to be propelled entirely by sustainable fuels.
On the other hand, the company is also going to spend heavily on this front. Roll Royce has targeted to spend as much as 75% of its research and development budget towards zero net carbon technologies by 2025. Warren East, the Chief Executive Officer of Rolls Royce, stated that although the world is slowly emerging from the devastation of the COVID 19 pandemic, global economic growth can be achieved even though companies may wish to move towards a greener future.
It is a major move from the company considering the fact that it is one of the biggest names in the jet engine manufacturing industry. It remains to be seen if this announcement leads to similar announcements from its competitors.
