Inside DHL and Standard Chartered's Net Zero Collaboration
Interest in and desire to utilise sustainable aviation fuel (SAF) is growing across numerous industries.
Unlike traditional fuels, SAF is produced from renewable resources such as agricultural residues or waste oils.
This ensures the associated carbon footprint is significantly lower than that of conventional jet fuels, making it a key enabler in the quest for more sustainable air transport.
Just recently, Kintetsu World Express and Volvo Group struck up a partnership for the use of SAF across the latter’s air freight operations, underlining their shared dedication to further decarbonising the sector.
Another such example is Standard Chartered signing an agreement with DHL Express to use its GoGreen Plus service, thus helping to scale its use of SAF.
DHL and Standard Chartered invest in SAF
By co-investing in SAF alongside DHL Express, Standard Chartered is set to make strides in its commitment to achieve net zero in its own operations by 2025 and in its financed emissions by 2050.
Their partnership has already been going strong for more than two decades, but will now support the financial giant's sustainability ambitions by balancing emissions linked to its upstream logistics with Verified Emissions Reductions (VER) carbon credits.
“Standard Chartered was the first bank to adopt our GoGreen service in 2011 and is now working with us to make international express shipping more sustainable," explains Yung C Ooi, SVP Commercial in the Asia-Pacific region at DHL Express.
"We hope this agreement will inspire other companies to transition to low-emission transportation services using SAF."
Cutting greenhouse gas emissions
According to the World Economic Forum, SAF has the potential to cut aviation's greenhouse gas emissions by up to 80% compared to traditional jet fuels.
Standard Chartered estimates that, by using SAF, 3,780 tonnes of carbon dioxide equivalent will be saved between 2024 and 2030.
The organisation will receive a monthly report on the carbon footprint of its shipments as part of GoGreen Plus and quarterly certification by an independent auditor of the emissions reduction achieved.
GoGreen Plus is part of DHL Group's goal to achieve net-zero emissions by 2050. The air freight network accounts for around 90% of the company's carbon footprint.
Khuresh Faizullabhoy, MD and COO for Trade at Standard Chartered, adds: "While the digitisation of trade documentation is progressing, through this agreement to scale the use of SAF with our logistics partner DHL Express, we will jointly drive down emissions that would otherwise be generated from this essential service.
“This is a win-win for our customers and in line with our own commitment to deliver net zero across Standard Chartered."
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