Cathay Pacific, HSBC Hong Kong and sustainable aviation fuel supplier EcoCeres are partnering to support Hong Kong's decarbonization efforts and to "foster a local SAF ecosystem for Hong Kong," the carrier announced Tuesday.
HSBC Hong Kong has agreed to a one-time purchase of 3,400 metric tons of SAF produced by EcoCeres, which will be used in Cathay Pacific flights departing from Hong Kong International Airport, according to the carrier, which did not include a date for when the SAF would be provided.
"This is the largest SAF purchase that HSBC has undertaken to date," Luanne Lim, HSBC's Hong Kong CEO, said in a statement. "The Hong Kong initiative will serve as a pilot program, which could help pave the way for broader implementation." The bank has set a goal to be net zero by 2050.
HSBC Hong Kong was a launch member in 2022 of the Cathay Corporate SAF Program, which Cathay created to accelerate the transition to SAF, according to the carrier. The program has a total commitment of more than 6,050 metric tons of SAF in 2024, which is more than the 2,650 metric tons committed for use in 2024 that the carrier announced earlier this month.