HSBC partners Cathay Pacific, EcoCeres to scale SAF adoption

HSBC will use SAF from EcoCeres for its Cathay Pacific flights departing from Hong Kong.

HSBC Hong Kong has entered into a one-time purchase agreement for around 3,400 metric tonnes of sustainable aviation fuel (SAF) produced by EcoCeres, to reduce its travel-related emissions.

The SAF will be used in Cathay Pacific flights departing from the Hong Kong International Airport (HKIA).

EcoCeres’ SAF is made from 100% waste-based biomass feedstock, delivering up to 90% reduction in greenhouse gas emissions compared to conventional jet fuel. 

The SAF purchased by HSBC is made from fully traceable feedstock of used cooking oil with approximately 1,800 metric tonnes reduction in lifecycle carbon emissions, equivalent to emissions from 10,000 roundtrip Economy seats between Hong Kong and London on Cathay Pacific flights.

“This is the largest SAF purchase that HSBC has undertaken to date. It reflects our support for new economy solutions and demonstrates how businesses can collaborate to support innovative decarbonisation technologies,” Luanne Lim, CEO of HSBC Hong Kong said.