The Cathay Group is a co-initiator of the Hong Kong Sustainable Aviation Fuel Coalition (“HKSAFC”), launched in January as a multi-stakeholder platform, bringing together the aviation industry, Sustainable Aviation Fuel (“SAF”) producers, fuel suppliers, infrastructure developers, corporate users, and policymakers to advance the development, supply, and use of SAF. The coalition was formed in response to the Hong Kong SAR Government's 2023 Policy Address, which highlighted the importance of driving the use of SAF in Hong Kong.
Produced from a range of feedstocks, including waste oil and grease, biomass, and municipal solid waste, SAF is a low-carbon alternative to conventional jet fuel that can reduce greenhouse gas emissions from flight activities by over 80% on a lifecycle basis. It will be the most important tool for decarbonising aviation over the next few decades, before alternatively powered aircraft can be widely deployed in commercial operations.
Cathay was among the first airlines in the world to announce a target of 10% SAF for its total fuel use by 2030. In 2022, the Group launched its Corporate SAF Programme, which enables corporate customers to reduce their carbon footprint from business travel or airfreight by contributing to the use of SAF; the programme currently has eight participating customers, as well as an NGO partner. Last year, Cathay and State Power Investment Corporation signed a Memorandum of Understanding to drive further development of the SAF supply chain in China.
