Cathay Pacific’s New Carbon Intensity Target Supports 2050 Net-Zero Goal

Tuesday, March 26, 2024

On Monday, March 25, 2024, Cathay reaffirmed its steadfast commitment to reducing carbon emissions in the aviation sector by announcing a new target. By 2030, the company aims to decrease its carbon intensity by 12% compared to 2019 levels, marking a significant step towards its overarching ambition of achieving net-zero carbon emissions by 2050.

This immediate goal centers on enhancing carbon intensity by lowering carbon emissions per revenue tonne kilometre (RTK) from 761 gCO2/RTK to 670 gCO2/RTK. To attain these enhancements, Cathay plans to integrate over 70 new passenger and freighter aircraft into its fleet in the coming years, boasting up to 25% greater fuel efficiency compared to prior models.

The widespread adoption of Sustainable Aviation Fuel (SAF) remains pivotal in reaching the new target and ultimately achieving net-zero emissions. Cathay will further bolster its utilization of SAF by offsetting 10% of carbon emissions from employee duty travel on Cathay Pacific flights starting in 2024. Since 2007, the company has offset all emissions from employee duty travel through its Fly Greener program using carbon credits. This latest initiative underscores Cathay’s leadership in driving the development and deployment of SAF in the region while actively contributing towards its goal of reaching 10% SAF usage by 2030.

Chief Executive Officer Ronald Lam said: “Despite being a major airline with one of the best carbon intensity performances in the world*, we are determined to improve our climate performance even further via accelerating the use of sustainable aviation fuel (SAF), modernising our fleet and driving operational improvements. This new carbon intensity target will provide necessary drive for actions in the immediate future towards achieving our long-term goals.”

Being among the pioneering airlines in Asia to commit to reaching 10% Sustainable Aviation Fuel (SAF) for its overall fuel consumption by 2030, Cathay acknowledges the complexities inherent in transitioning towards more sustainable energy sources in aviation. In response, Cathay embraces a collaborative spirit, encapsulated in its ethos “Greener Together,” calling upon all stakeholders to join forces in this vital endeavor. To advance this cause, Cathay has adopted a multifaceted approach, forging strategic partnerships with like-minded organizations and stakeholders across the SAF value chain. This encompasses the establishment of Asia’s inaugural major Corporate SAF Programme, enabling corporate customers to leverage SAF in mitigating their aviation-related indirect emissions. Additionally, Cathay has played a pivotal role in co-founding the Hong Kong Sustainable Aviation Fuel Coalition earlier this year.

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