First Eagle Investments Joins United Airline’s Eco-Skies Alliance

Firm becomes first investment manager to commit to innovative program advancing the decarbonization of air travel.

NEW YORK, January 19, 2023—First Eagle Investments (“First Eagle”) today announced that it has joined United Airlines’ Eco-Skies Alliance program. Launched in April 2021, the Eco-Skies Alliance seeks to lower greenhouse gas (GHG) emissions from aviation while providing corporate participants an opportunity to promote sustainability within their operations. Each participant in the Eco-Skies Alliance program makes a financial commitment to support demand for sustainable aviation fuel (SAF), a lower-carbon alternative to conventional jet fuel that is derived from renewable sources or waste byproducts.

Corporations across industries have actively sought to reduce their carbon footprints in recent years, and aviation—one of the world’s most carbon-intensive industries—has been an area of particular focus. The financial commitment of First Eagle and other Eco-Skies Alliance participants is designed to facilitate broader adoption of SAF, which has been shown to reduce GHG emissions by 80%–90%, though currently is limited in supply and more expensive than conventional jet fuel. Demand through the Eco-Skies Alliance program is intended to drive increases in SAF supply, promote economies of scale for its producers and reduce the “green premium” paid for it, thus lowering emissions and accelerating affordable decarbonization. The program also promotes research into other related innovations.

“At First Eagle, we place great emphasis on being responsible corporate citizens,” said Melanie Dow, Chief Administrative Officer. “The Eco-Skies Alliance initiative, with its mission to promote greener air travel by reducing emissions, is consistent with First Eagle’s focus on corporate and social responsibility, and we are pleased to be part of it.”

Participation in the Eco-Skies Alliance program is part of First Eagle’s broader Corporate Social Responsibility efforts, a firmwide dedication to exerting a positive influence on the communities in which we live and work, the industry in which we operate and the world at large.

About First Eagle Investments

First Eagle Investments is an independent, privately owned investment management firm headquartered in New York with approximately $115.3 billion in assets under management as of September 30, 2022.* Dedicated to providing prudent stewardship of client assets, the firm focuses on active, fundamental and benchmark-agnostic investing, with a strong emphasis on downside mitigation. With a heritage dating back to 1864, First Eagle strives to help its clients avoid permanent impairment of capital and earn attractive returns through widely varied economic cycles. The firm’s investment capabilities include equity, fixed income, alternative credit and multi-asset strategies. For more information, please visit www.firsteagle.com.

*The total AUM represents the combined AUM of First Eagle Investment Management, LLC and its subsidiary investment advisers as of 30 September 2022. It includes $1.9 billion of committed and other non-fee-paying capital from First Eagle Alternative Credit, LLC and $1.2 billion of committed and other non-fee-paying capital from Napier Park Global Capital, inclusive of assets managed by Regatta Loan Management LLC.

Media Contacts:

First Eagle Investments
Pholida Barclay
212.698.3208
pholida.barclay@firsteagle.com

Mount and Nadler
Hedda Nadler
hedda@mountandnadler.com
212.759.4440

First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers. First Eagle Alternative Credit is the brand name for those subsidiary investment advisers engaged in the alternative credit business.