In a major step toward greener air travel, HSBC Hong Kong, Cathay Pacific, and EcoCeres announced a partnership to promote the use of Sustainable Aviation Fuel (SAF) in Hong Kong, reports Biodiesel Magazine.
The initiative combines the city’s largest bank, its flagship airline, and a leading local SAF producer to reduce the carbon footprint of air travel while cultivating a sustainable fuel ecosystem for the city.
Within this partnership, HSBC has agreed to a one-time purchase of 3,400 metric tons of SAF from EcoCeres. This fuel will be entirely made of waste material including used cooking oil and will be used by Cathay Pacific flights leaving the Hong Kong International Airport. Estimates indicate the SAF will reduce greenhouse gas emissions by up to 90% compared to regular jet fuel, or the equivalent of avoiding about 11,800 metric tons of carbon emission. This reduction has been equal to the emissions put out by some 10,000 round trips in Economy Class from Hong Kong to London.
Speaking at the ceremony to celebrate the collaboration, Lam Sai-hung, Secretary for Transport and Logistics in Hong Kong, commended the initiative as an important step toward making aviation more sustainable. “This partnership supports the efforts of the government to air travel more environmentally friendly. In the recent Policy Address, we commit ourselves to setting targets for the use of SAF next year to reduce carbon emissions from the aviation industry by a very high amount,” he said.
The collaboration reflects Hong Kong’s broader goals to reduce emissions while maintaining its position as a leading global aviation hub. Clara Chan, CEO of the Hong Kong Investment Corporation Limited, highlighted the strategic importance of the initiative. “EcoCeres exemplifies how a local company can achieve global recognition in sustainable innovation. This partnership showcases Hong Kong’s strengths in finance, technology, and aviation working together to address global challenges,” she said.
Luanne Lim, CEO of HSBC Hong Kong, regards the SAF purchase as a milestone for the bank. “This is HSBC’s largest SAF purchase to date and serves as a pilot for broader implementation. It demonstrates how businesses can work together to support innovative ways to reduce emissions and foster a more sustainable future,” she said.
Cathay Pacific CEO Ronald Lam is upbeat about the partnership. “This partnership reiterates our shared commitment to sustainability and cements the interest of businesses in SAF. We look forward to seeing policies that will further support Hong Kong’s transition to cleaner energy and reinforce its position as a global aviation leader,” he said.
Cathay Pacific has committed to net-zero emissions by 2050 and sets a goal to ensure that SAF constitutes 10% of its total fuel intake by 2030. To stimulate broader adoption of SAF, the carrier launched its Corporate SAF Programme in 2022, under which companies can offset their emissions from business trips by flying with its group. To that end, the Hong Kong branch of HSBC is an early adopter of the programme.
Matti Lievonen, Executive Chairman of EcoCeres, said the partnership is a step toward a greener aviation industry. “This collaboration demonstrates how companies can work together to support renewable energy solutions. We hope this model will inspire similar initiatives globally,” he said.
EcoCeres, a leader in converting waste materials into sustainable fuels, has a significant share of the global SAF market. This partnership is expected to play a pivotal role in advancing Hong Kong’s sustainability goals and promoting innovation in aviation fuel.
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