5th June 2024, Singapore:
Cathay and Singapore Airlines (SIA) have signed a Memorandum of Understanding (MoU) to collaborate on a broad range of sustainability initiatives. These collective efforts are aimed at advocating for the development and use of sustainable aviation fuel (SAF)in the Asia-Pacific region, a critical decarbonisation lever for the sector, and sharing best practices to boost sustainability performance.
The MoU was signed by Cathay Group Chief Executive Officer (CEO) Mr Ronald Lam and Singapore Airlines CEO Mr Goh Choon Phong in Dubai, the United Arab Emirates, on the sidelines of the 80th International Air Transport Association (IATA) Annual General Meeting and World Air Transport Summit.
The agreement, which focuses on two key areas, underscores both carriers’ commitment to achieving net zero carbon emissions by 2050, and affirms their aspiration to help drive sustainability changes in the airline industry.
Firstly, Cathay and SIA will jointly advocate for the greater use of SAF in the Asia-Pacific region. Initiatives in this area will include raising public awareness about SAF’s critical role in decarbonising aviation, advocating for supportive policies in the region, and promoting the creation of a standard global accounting and reporting framework to ensure the transparency and verifiability of emission reductions from the use of the fuel. The airlines will also explore potential opportunities for joint procurement of SAF at selected locations. These are aimed at boosting SAF production and supporting its wider adoption in the airline industry.
The second area of focus will be the exchange of best practices to reduce single-use plastics, minimise waste, and improve energy efficiency in ground and cargo operations. This will allow Cathay and SIA to improve their sustainability performance, and speed up the development and implementation of sustainable solutions in their operations.
Mr Ronald Lam, Chief Executive Officer, Cathay Group, said: “As part of our collaborative ethos of ‘Greener Together’, we actively seek like-minded industry leaders for strategic partnerships in transitioning to sustainable aviation. Our collaboration with Singapore Airlines aims to accelerate and support the development of the SAF supply chain in the region, fostering a reliable SAF ecosystem to enable the industry to achieve its long-term decarbonisation goals. Cathay was one of the first airlines in Asia to set a target of 10% SAF for its total fuel consumption by 2030, and we are undertaking a multi-pronged approach to contribute to the aviation industry’s transition towards a greener future.”
Mr Goh Choon Phong, Chief Executive Officer, Singapore Airlines, said: “Singapore Airlines is committed to embedding sustainability in all aspects of our operations. At the same time, we recognise that we cannot achieve our targets alone. Our partnership with Cathay signifies our mutual ambition to enhance collaboration in sustainability initiatives in the Asia-Pacific region. Together we are helping to set the foundation for a more sustainable aviation industry, and ensure that future generations continue to reap the benefits of air travel.”
