Sustainable Aviation Fuel Deal between HSBC, Cathay Pacific, and EcoCeres Marks a New Era

Breaking Ground with Sustainable Aviation Fuel

In an unprecedented move, HSBC has signed Hong Kong's first agreement for the purchase of sustainable aviation fuel (SAF) aimed at reducing travel-related carbon emissions. This landmark pact involves a one-time deal to procure 3,400 tonnes of SAF from EcoCeres, a pioneering biofuel producer. The fuel will power Cathay Pacific flights departing from Hong Kong International Airport.

Impact on Carbon Emissions and Future Initiatives

• This substantial procurement will eliminate approximately 11,800 tonnes of carbon emissions, equal to the carbon footprint from 10,000 round-trip economy flights between Hong Kong and London.
• HSBC’s initiative represents a crucial pilot program, aimed at paving the way for wider adoption of SAF in the region.

EcoCeres is centered on using waste biomass, primarily used cooking oil, which can decrease greenhouse gas emissions by up to 90% compared to traditional jet fuel, as confirmed by the Germany-based International Sustainability and Carbon Certification.

Aligning with Governmental Objectives

Lam Sai-hung, the Secretary for Transport and Logistics in Hong Kong, emphasized that this partnership aligns with the government's vision to boost SAF adoption to maintain Hong Kong as a prime international aviation hub. With upcoming regulations, similar to Singapore's commitment to escalate SAF use, stakeholder collaboration will become increasingly important.

Embracing Transformation in Aviation

Cathay Pacific has already implemented an SAF corporate program since 2022, enabling various companies to contribute to carbon reduction efforts. The recent deal signifies a major step forward in the aviation sector's shift towards sustainability.