Cathay Pacific, EcoCeres, and HSBC Hong Kong have joined forces to advance Sustainable Aviation Fuel (SAF) adoption in Hong Kong, marking a significant milestone in the city’s decarbonization efforts. This tripartite collaboration combines the expertise of Hong Kong’s largest bank, its flagship airline, and a leading SAF producer to establish a robust local SAF ecosystem.
The initiative includes HSBC Hong Kong’s one-time purchase of 3,400 metric tonnes of SAF from EcoCeres, which will power Cathay Pacific flights departing from Hong Kong International Airport. Derived entirely from waste-based biomass feedstock, primarily used cooking oil, EcoCeres’ SAF can reduce greenhouse gas emissions by up to 90% compared to conventional jet fuel. This translates to a reduction of 11,800 metric tonnes of carbon emissions, equivalent to the output of approximately 10,000 roundtrip Economy-class seats between Hong Kong and London on Cathay flights.
The partnership aligns with Hong Kong’s ambition to become a regional hub for SAF development, as highlighted in the Hong Kong SAR Government’s recent Policy Address. At the announcement ceremony, Lam Sai-hung, Secretary for Transport and Logistics, emphasized the importance of such initiatives, noting, “The collaborative efforts of Cathay Pacific, HSBC, and EcoCeres resonate with the government’s vision to reduce aviation emissions and establish SAF usage targets by next year.”
Cathay Pacific CEO Ronald Lam reaffirmed the airline’s goal of achieving net-zero emissions by 2050 and incorporating SAF for 10% of its total fuel consumption by 2030. Lam added, “This landmark partnership underscores the growing participation of corporates in SAF initiatives and the need for a comprehensive SAF policy in Hong Kong to bolster its competitiveness as a global aviation hub.”
EcoCeres, which holds a 20% share of the global SAF market, hailed the partnership as a model for advancing sustainable solutions. Executive Chairman Matti Lievonen said, “This collaboration exemplifies how stakeholders can work together to decarbonize aviation and promote renewable energy solutions.”
HSBC’s Chief Executive Officer in Hong Kong, Luanne Lim, highlighted the initiative as the bank’s largest SAF purchase to date, demonstrating its commitment to innovative decarbonization technologies.
With this groundbreaking effort, Hong Kong reinforces its position as a leader in sustainable aviation, paving the way for future collaborations to accelerate SAF adoption and combat climate change.