United Technologies has ranked #8 on Fortune’s second annual Change the World list, which highlights 50 companies that do well by doing good.
The Change the World list recognizes companies that have had a positive social impact through activities that are part of their core business strategy. Fortune prioritizes companies with annual revenues of $1 billion or more, and strives to present a global and well-rounded list. The process begins with a call for nominations from business, academic, and nonprofit groups. Fortune writers and editors then evaluate and rank the companies by three factors: Measureable Social Impact; Business Results; and Degree of Innovation.
UTC earned its spot for “rethinking jet engines to make commercial aviation less of a threat to the climate.”
By investing 20 years and $10 billion in technology development, Pratt & Whitney, a unit of United Technologies, has created a new jet engine that is truly a game-changing innovation in commercial air travel.
Richard Aboulafia, an aviation analyst, calls Pratt & Whitney’s Geared Turbofan engine “a significant breakthrough.” Aboulafia also stated that “in many ways, it is the future.”
The Geared Turbofan engine delivers a 50 percent overall reduction in regulated emissions, while reducing fuel consumption by 16 percent. With air travel growing rapidly and the engine's 75 percent reduction in overall noise footprint, a quieter engine means a quieter, more enjoyable experience for people on the ground and passengers in the sky.