Cathay Welcomes the Launch of the Hong Kong Sustainable Aviation Gasoline Coalition as Co-Initiator

Cathay welcomes the launch of the Hong Kong Sustainable Aviation Gasoline Coalition as co-initiator.

Cathay additional demonstrated its steadfast dedication to contributing in the direction of the decarbonisation of the aviation business and establishing itself as a sustainability chief because it proudly welcomed the profitable launch of the Hong Kong Sustainable Aviation Gasoline Coalition (HKSAFC) as its co-initiator.

The coalition is convened and chaired by Enterprise Setting Council (BEC), together with 13 founding companions from the sustainable aviation gasoline (SAF) worth chain.

In October 2023, the Hong Kong SAR Authorities highlighted the significance of SAF in its 2023 Coverage Deal with, emphasising forward-looking planning to drive the usage of SAF in Hong Kong. Cathay helps the Authorities’s intention to advertise the provision of SAF.

The HKSAFC is a multi-stakeholder platform within the area that brings collectively the aviation business, SAF producers, gasoline suppliers, infrastructure builders, company customers and policymakers to collaborate on advancing the event, provide and use of SAF.

The HKSAFC goals to facilitate the adoption of SAF in Hong Kong by conducting whitepaper analysis on SAF growth, participating with completely different stakeholders and the Authorities, and elevating public consciousness of the advantages in addition to challenges of SAF. The coalition additionally seeks to develop Hong Kong as a regional SAF hub that may contribute to world local weather mitigation efforts and China’s carbon-neutrality goal.

Mr Liu Chun San, JP, Performing Secretary for Transport and Logistics, mentioned on the launch ceremony mentioned:

The Authorities totally endorses the route of utilizing SAF to decarbonise the aviation sector which helps sustaining the main place of Hong Kong Worldwide Airport (“HKIA”) in inexperienced and sustainable growth.

“Other than the environmental advantages, guaranteeing the adequate provide of SAF at HKIA would assist consolidate Hong Kong’s worldwide aviation hub standing. Most airways now have their very own sustainability targets or necessities imposed by their base-governments on the usage of SAF. The provision of SAF at airports will probably be, if not has been, one of many main issues of airways in flight planning and enlargement.”

Ronald Lam, Cathay Group Chief Government Officer mentioned:

Sustainability is a key focus for Cathay, and we’re dedicated to reaching our carbon net-zero objective by 2050.

“We firmly consider that SAF is a key enabler for the aviation business to realize its long-term environmental targets and to help the worldwide transition to a low-carbon financial system.”

“Hong Kong has to have the ability to domesticate the event and use of SAF as a way to retain and improve its main worldwide aviation hub standing. Nonetheless, we can’t do that alone – it requires collaboration amongst all events, and the HKSAFC is a crucial step on this route. I look ahead to working with all the Coalition Companions within the coming months and years, to hitch the worldwide efforts to deal with the local weather problem.”

Simon Ng, HKSAFC Chair and Chief Government Officer of BEC mentioned:

Aviation is extensively recognised as one of the vital difficult sectors to decarbonise.

“Within the foreseeable future, SAF is taken into account essentially the most viable means for decarbonising the sector. By way of the launch of HKSAFC, BEC will have interaction with a number of stakeholders to speed up the deployment of SAF at Hong Kong Worldwide Airport, guaranteeing its availability and affordability.”

Cathay is proud to be a part of the HKSAFC, and collaborate with the BEC and different coalition companions to drive developments in decarbonisation throughout the aviation business. These embody:

•          AFSC Operations Restricted

•          Airport Authority Hong Kong 

•          Board of Airline Representatives Hong Kong

•          Enterprise Setting Council

•          Cathay Pacific Airways Restricted

•          China Aviation Oil (Hong Kong) Firm Restricted

•          ECO Aviation Gasoline Companies Restricted

•          EcoCeres Restricted

•          PetroChina Worldwide (Hong Kong) Company Restricted

•          PricewaterhouseCoopers Restricted

•          Shell Aviation

•          Sinopec (Hong Kong) Aviation Co., Ltd

•          Customary Chartered Financial institution (HK) Ltd

•          Swire Pacific Restricted

Cathay hopes to work carefully with the Authorities and the HKSAFC to create a conducive market atmosphere for SAF, particularly with the airline’s dedication to utilizing SAF for 10% of its complete gasoline utilization by 2030. Cathay has additionally partnered with 9 company clients by means of its Company SAF Programme, launched in 2022, to speed up SAF adoption and convey a sign of agency demand for SAF from multi-sectoral gamers. For extra data, please go to: www.cathay.com.

What’s SAF?

SAF is a low-carbon various to traditional jet gasoline that may scale back greenhouse gasoline emissions from flight actions by over 80% on a lifecycle foundation. SAF may be produced from varied feedstocks, comparable to waste oils and greases, biomass, and municipal stable waste, and may be blended with typical jet gasoline with none modification to present plane.

What’s Cathay’s Company SAF Programme?

Cathay’s Company SAF Programme is the primary main programme of its variety in Asia. Established in 2022, it gives company clients with a possibility to cut back their carbon footprint from enterprise journey or airfreight by contributing to the usage of SAF. Cathay is set to proceed to scale-up the programme this 12 months, extending the service to extra company clients.

Cathay welcomes the launch of the Hong Kong Sustainable Aviation Gasoline Coalition as co-initiator, January 29, 2024