World Energy, BCG Strike Sustainable Aviation Deal
Boston Consulting Group (BCG) announced a major agreement to buy sustainable aviation fuel certificates (SAFc) from World Energy, a leader in sustainable aviation fuels and low-carbon solutions.
This deal supports BCG's goal of reaching net zero climate impact by 2030. The five-year agreement, running until 2028, is expected to cut emissions by a significant 1,00,000 metric tonnes of CO2.
The eco-friendly fuel will be produced using cutting-edge technology, turning waste fats, oils, and other leftovers into clean fuel. This high-quality fuel meets strict industry standards for sustainability. The certificates will likely be tracked through the SAFc Registry, a global platform promoting transparency and consistency in the SAF certificate market.
This purchase marks BCG's biggest investment in SAF certificates to date. It builds on their long-standing commitment to the SAF market, dating back to 2019 with their involvement in the World Economic Forum's Clean Skies for Tomorrow initiative. BCG is also a founding member of the Sustainable Aviation Buyers Alliance and participated in their initial collective procurement effort.
World Energy, the first company to produce SAF on a commercial scale, offers a unique fuel certified by both the Roundtable on Sustainable Biomaterials (RSB) and CORSIA. This fuel has very low carbon intensity, achieving over 80% lifecycle emissions reductions compared to traditional jet fuel.
“Today’s agreement is a key part of our commitment to using cutting-edge sustainable aviation fuel for air travel as we focus on cutting the emissions intensity of our operations in half by 2025 and achieving net zero climate impact by 2030,” said David Webb, BCG’s Chief Sustainability Officer. “We are proud of the role we are playing to support the sustainable aviation fuel market. Scaling new climate technologies will play a fundamental part in reaching global climate goals.”
World Energy CEO Gene Gebolys added, “Collaborations of this type and magnitude are key to making decarbonization a reality now in the hardest-to-abate sectors, like aviation. This is the fastest way to scale up production of SAF and expand its efficient distribution around the world. We are proud to collaborate with corporate leaders like BCG to help make their net zero goals real and help decarbonize the aviation industry.”
BCG's investment allows them to claim greenhouse gas reductions on climate reports, while the physical SAF is used by an airline. A digital ledger system and a third-party verification process, known as Book & Claim, ensure the transaction's integrity. This system is similar to the one used for investments in renewable energy for many years. This purchase is part of a larger group of SAF certificate deals coordinated by the Sustainable Aviation Buyers Alliance, where BCG is a founding member.
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Source: World Energy
