Cathay is heading for a more sustainable future
Cathay Pacific planes are set to take-off from the city powered by cooking oil.
The initiative is part of the airline’s bid to achieve net-zero carbon emissions by 2050. It also aims to have sustainable aviation fuel make up ten percent of its total fuel consumption by 2030.
The innovative fuel solution is produced by EcoCeres, a Hong Kong-based sustainable aviation fuel producer. EcoCeres’ fuel is derived from 100% waste-based biomass feedstock; in this case fully traceable feedstock of used cooking oil which can deliver around a 90% reduction in greenhouse gas emissions compared to conventional jet fuel.
Backed by HSBC Hong Kong, Cathay has agreed to buy around 3,400 metric tonnes of the sustainable fuel, which is estimated to save carbon emissions equivalent to 10,000 return economy class seats between Hong Kong and London.
According to HSBC, this is the largest sustainable aviation fuel purchase it has ever undertaken.
“The Hong Kong initiative will serve as a pilot programme, which could help pave the way for broader implementation,” said Luanne Lim, chief executive officer at HSBC Hong Kong. “It reflects our support for ‘new economy’ solutions and demonstrates how businesses can collaborate to support innovative decarbonisation technologies.”
Lam Sai-hung, government secretary for Transport and Logistics, said the partnership had arrived at a “crucial time”, following the Hong Kong government’s recent policy address reaffirming the city’s commitment to sustainable aviation fuel development.
“The collaborative efforts of Cathay Pacific, HSBC and EcoCeres in advancing sustainability resonate with the government’s initiatives and vision,” said Lam. “Our goal is to establish a usage target for sustainable aviation fuel within next year, aiming to significantly reduce carbon emissions in the aviation sector.”
Cathay Group boss Ronald Lam said he looked forward to the development of a comprehensive sustainable aviation fuel policy in Hong Kong “as soon as possible”, adding that a transition to low-carbon energy was essential to future proofing Hong Kong’s competitiveness as an aviation hub.
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