(Reuters) - Hong Kong's Cathay Pacific Airways (OTC:CPCAY) Ltd said on Wednesday it would work with corporate customers to launch a major corporate sustainable aviation fuel (SAF) programme in Asia, as firms look to shrink their carbon footprint.
The flagship carrier said it would work with eight clients including insurer AIA Group (OTC:AAGIY), Standard Chartered (OTC:SCBFF) and HSBC to promote the use of SAF on its flights used for business travel or air freight from Hong Kong International Airport.
The move comes as airlines rush to set and meet net-zero carbon emission targets and other companies also look to cut down on harmful impact to the environment from their operations.
The project is "a first step in sending an important demand signal to the SAF supply chain that there is firm interest in the region," Cathay Chief Executive Officer Augustus Tang said in a statement.
The SAF to be used in this programme is made from used cooking oil and animal fat waste, Cathay said, adding that PetroChina and Shell (LON:RDSa) will supply fuel for this.