Hong Kong partners aim to boost sustainable aviation through new fuel initiative

At a ceremony marking this collaboration, Mr Lam Sai-hung, Secretary for Transport and Logistics of the Hong Kong SAR Government stated: “The announcement of this tripartite partnership arrives at a crucial time. The collaborative efforts of Cathay Pacific, HSBC and EcoCeres in advancing sustainability resonate with the Government’s initiatives and vision.”

Ms Clara Chan, Chief Executive Officer of the Hong Kong Investment Corporation Limited commented: “EcoCeres is a classic example of a home-grown company...We are pleased to see its commitment and concrete actions to support Hong Kong.” She highlighted the synergy among stakeholders involved in this initiative.

Ms Luanne Lim, Chief Executive Officer Hong Kong of HSBC said: “This is the largest SAF purchase that HSBC has undertaken to date...It reflects our support for new economy solutions.”

Cathay Group CEO Ronald Lam expressed gratitude for this partnership's role in promoting sustainability leadership: “We are very encouraged by the participation by more corporates in SAF related initiatives.”

Mr Matti Lievonen, Executive Chairman of EcoCeres noted: “We are thrilled to contribute to the groundbreaking collaboration...This initiative will support HSBC in improving traceability...and exemplifies an initiative towards a greener future.”

Cathay Pacific aims for net-zero carbon emissions by 2050 with plans for SAF constituting 10% of total fuel consumption by 2030. In pursuit of these goals, they launched their Corporate SAF Programme in 2022.

EcoCeres stands as one of few companies globally converting waste into various sustainable fuels while holding significant market share within global SAF production according IATA data.