Tuesday, July 23, 2024
HomeAll NewsSustainable Aviation Fuel (SAF)Boston Consulting Group announces SAF agreement with World Energy

Boston Consulting Group announces SAF agreement with World Energy

Boston Consulting Group (BCG) has announced its agreement to purchase sustainable aviation fuel certificates (SAFc) from World Energy, a sustainable aviation fuel (SAF) producer and low-carbon solutions provider. This move is a significant part of BCG’s commitment to achieving net-zero climate impact by 2030, with the agreement extending through 2028. The anticipated result is a reduction of 100,000 tons of CO2 emissions over the next five years.

The sustainable aviation fuel will be produced using cutting-edge technology, refining hydroprocessed esters and fatty acids (HEFA) with waste fats, oils, and other residues as feedstocks. The fuel’s quality will meet industry standards to ensure sustainability. These SAF certificates are expected to be processed through the SAFc Registry, a globally accessible platform aimed at bringing consistency and transparency to the SAF certificate market.

This marks BCG’s largest SAF certificate purchase to date, building upon its ongoing involvement in the SAFc market. BCG’s engagement began with its participation in the World Economic Forum-led Clean Skies for Tomorrow coalition in 2019. Furthermore, BCG is a founding member of the Sustainable Aviation Buyers Alliance and has participated in its initial collective procurement effort. World Energy, as the world’s first commercial-scale SAF producer, offers the only SAF certified by both the Roundtable on Sustainable Biomaterials (RSB) and CORSIA, providing very low carbon intensity and achieving over 80% emissions reductions compared to conventional jet fuel over its lifecycle.

David Webb, BCG’s Chief Sustainability Officer, commented, “Today’s agreement is a crucial step in our commitment to utilizing advanced SAF for air travel as we strive to halve the emissions intensity of our operations by 2025 and achieve net-zero climate impact by 2030.” He emphasized BCG’s role in supporting the SAF market and scaling new climate technologies to meet global climate goals.

Gene Gebolys, CEO of World Energy, added, “Collaborations of this scale are essential for immediate decarbonization, particularly in challenging sectors like aviation. This partnership accelerates SAF production and facilitates its efficient global distribution, advancing the decarbonization of the aviation industry.”

BCG’s investment enables the company to claim greenhouse gas reductions in climate disclosures, while the physical SAF is directed to an aircraft operator. The integrity of the transaction is ensured through digital tracking and third-party verification using a ledger system known as Book & Claim, similar to models supporting investments in renewable energy. This purchase is part of a series of SAF certificate deals facilitated by the Sustainable Aviation Buyers Alliance, of which BCG is a founding member.



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular