HSBC, Cathay Pacific and EcoCeres partner for major SAF initiative in Hong Kong

In Hong Kong, HSBC Hong Kong, Cathay Pacific and EcoCeres are launching an initiative to support the use of sustainable aviation fuel.

By bringing together Hong Kong’s largest bank, its home airline, and a local SAF producer, the collaboration aims to support a key innovation for the long-term decarbonization of air travel and foster a local SAF ecosystem for Hong Kong.

As part of the agreement, HSBC Hong Kong is entering into a one-time purchase agreement for around 3,400 metric tons of SAF produced by EcoCeres, which will be used in Cathay Pacific flights departing from the Hong Kong International Airport.

EcoCeres’ SAF is derived from 100% waste-based biomass feedstock, which can deliver an estimated reduction of up to 90% in greenhouse gas emissions compared to conventional jet fuel, certified by International Sustainability and Carbon Certification (ISCC). This batch of SAF is made from fully traceable feedstock of used cooking oil. 

Luanne Lim, Chief Executive Officer Hong Kong,HSBC, said, “This is the largest SAF purchase that HSBC has undertaken to date. The Hong Kong initiative will serve as a pilot program, which could help pave the way for broader implementation. It reflects our support for new economy solutions and demonstrates how businesses can collaborate to support innovative decarbonization technologies.”

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