New Delhi (CNN Business) One of Europe's biggest airlines is going carbon neutral.

EasyJet ESYJY announced Tuesday that it will begin offsetting emissions from its fleet of 331 planes immediately, becoming the first major airline in the world to operate net zero carbon flights. "From today onwards, easyJet will make all flights net zero carbon," it said in a statement.

The British budget airline said it expects to spend £25 million ($32.4 million) over the next year compensating "for every tonne of CO2 emitted from fuel used for its flights, by ensuring there is one tonne less in the atmosphere."

To do that it will invest in programs to remove CO2 from the air — for example by planting more trees — that have been certified to deliver carbon reductions that would not otherwise have happened, or that do not inadvertently lead to an increase in emissions elsewhere.

"We recognize that offsetting is only an interim measure, but we want to take action on our carbon emissions now," EasyJet CEO Johan Lundgren said in a statement. "Our priority is to continue to work on reducing our carbon footprint in the short term, coupled with long-term work to support the development of new technology, including electric planes, to reinvent aviation."

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