Cathay to launch major corporate sustainable aviation fuel programme
Reuters
Published Apr 20, 2022 06:49AM ET
(Reuters) - Hong Kong's Cathay Pacific Airways (OTC:CPCAY) Ltd said on Wednesday it would work with corporate customers to launch a major corporate sustainable aviation fuel (SAF) programme in Asia, as firms look to shrink their carbon footprint.
The flagship carrier said it would work with eight clients including insurer AIA Group (OTC:AAGIY), Standard Chartered (OTC:SCBFF) and HSBC to promote the use of SAF on its flights used for business travel or air freight from Hong Kong International Airport.
The move comes as airlines rush to set and meet net-zero carbon emission targets and other companies also look to cut down on harmful impact to the environment from their operations.
The project is "a first step in sending an important demand signal to the SAF supply chain that there is firm interest in the region," Cathay Chief Executive Officer Augustus Tang said in a statement.
The SAF to be used in this programme is made from used cooking oil and animal fat waste, Cathay said, adding that PetroChina and Shell (LON:RDSa) will supply fuel for this.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.