Julius Baer partners Cathay Pacific to promote SAF for sustainable air travel

This initiative is part of the bank’s decarbonisation efforts and climate targets.

Julius Baer has partnered with Cathay Pacific to promote the use of sustainable aviation fuel (SAF) as part of the airline’s Corporate SAF Programme

The partnership is part of Julius Baer’s decarbonisation efforts and climate targets, including its goal to reach net-zero emissions by 2030 and cut air travel by 30% by 2025 from 2019 levels as air travel makes up a significant portion of its operational emissions.

In 2022, the bank introduced an internal carbon price on air travel, with the proceeds going towards purchasing SAF from global airline partners, including Cathay Pacific, SWISS, and the Lufthansa Group.

The funds were used to support the restoration of mangroves in Indonesia and tropical forests in Panama.

“By supporting the use of SAF, we are taking an important step as a responsible wealth manager in reducing our carbon footprint and contributing to the aviation industry’s transition towards net-zero,” Yvonne Suter, Head of Sustainability at Julius Baer said.