HSBC Hong Kong, Cathay Pacific and EcoCeres launch SAF initiative

In Hong Kong, HSBC Hong Kong, Cathay Pacific and EcoCeres are launching a significant initiative to support the use of sustainable aviation fuel (SAF) in Hong Kong. By bringing together Hong Kong’s largest bank, its home airline, and a leading Hong Kong-based SAF producer, the collaboration aims to support a key innovation for the long-term decarbonisation of air travel and foster a local SAF ecosystem for Hong Kong.

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. The reduction in lifecycle carbon emissions is estimated to be 11,800 metric tons, compared with use of the same volume of conventional jet fuel. It is equivalent to the carbon emissions arising from around 10,000 roundtrip Economy class seats between Hong Kong and London on Cathay Pacific flights.