Raw: [
Logistics giant DHL Express announced today a new strategic partnership with UK-based international bank Standard […]]
Standard Chartered, DHL to Co-invest in Sustainable Aviation Fuel – ESG Today
ESG Investing, sustainable finance & business sustainability news
ESG investing news, analysis, research and information
Top Stories ESG News
Companies
Government
Investors
Regulators
Sustainable Finance
ESG Solutions ESG Tools, Services
Companies Companies
Investors Investors
ESG Disclosure ESG Reporting
Analysis
Regulators
Reports, Studies
Newsfeed
Whitepapers
Events
About About us
Our Team
Advertise With Us
Companies/ Energy Transition
Standard Chartered, DHL to Co-invest in Sustainable Aviation Fuel
Susan Lahey
March 19, 2024
Logistics giant DHL Express announced today a new strategic partnership with UK-based international bank Standard Chartered to co-invest in Sustainable Aviation Fuel (SAF) through DHL’s GoGreen Plus service, enabling Standard Chartered to balance its upstream logistics emissions with carbon credits.
DHL’s GoGreen service provides shippers with the option of climate-neutral shipping through investments in internationally recognized climate protection projects to offset emissions generated during transport. GoGreen Plus aims to offer real emissions reductions through carbon “insetting,” enabling shippers to replace conventional fossil fuels with sustainable fuels or clean technologies, such as SAF.
According to Standard Chartered, the new partnership forms part of the bank’s initiatives to innovate with partners to make its supply chain more sustainable, by supporting DHL in scaling the use of SAF, which can reduce the lifecycle emissions of aviation fuel by as much as 80%. Standard Chartered expects to see its own related emissions reduced by up to 30% in year one of the partnership, with an expected incremental 7% reduction year-on-year from 2025, saving more than an estimated 3,750 tonnes of CO2 by 2030. Standard Chartered has committed to net zero in its own operations by 2025 and in its financed emissions by 2050.
Khuresh Faizullabhoy, Managing Director & Chief Operating Officer, Trade at Standard Chartered said:
“As a leading provider of trade finance, our customers entrust us to handle their crucial trade & shipping documents to safeguard their business interests and ensure seamless transactional delivery. Whilst the digitization 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 delivering net zero across Standard Chartered.”
Scaling the use of sustainable aviation fuels forms a significant part of DHL’s Sustainability Roadmap. Launched in 2021, the roadmap includes a series of decarbonization and environmental sustainability commitments encompassing the introduction of more ambitious climate targets and linking executive compensation to ESG goals. DHL’s targets include using at least 30% of SAF blending for all air transport by 2030.
Yung C. Ooi, Senior Vice President for Commercial, Asia Pacific, DHL Express said:
“The partnership between Standard Chartered and DHL has been going strong for more than two decades. They were the first bank to adopt our GoGreen service in 2011 and are now working with us to make international express shipping more sustainable. The fact that we are offering the GoGreen Plus service through the use of SAF in our international network lays the foundation for this. We hope this agreement will inspire other companies to transition to low-emission transportation services using sustainable aviation fuel.”
Susan Lahey
Susan Lahey started her career as a business reporter for The Kansas City Star and has worked as a freelancer covering business, investment, technology, sustainability and science for numerous publications. She has also worked as a writer and editor for publicly funded projects mandating environmental cleanup of a molybdenum mine in Northern New Mexico; and recovery and resiliency measures following Hurricane Maria in Puerto Rico. Recently she worked as Director of Communications for a European wave energy company.
Related Posts
Companies /
Google Signs 430 MW Carbon Free Energy Deal in Arizona
Energy Transition /
Renovare Raising $7.5 Million to Turn Landfill Waste into Renewable Biofuels
Companies /
TotalEnergies Acquires Carbon Capture Business from Talos Energy for $148 Million
‹ Renovare Raising $7.5 Million to Turn Landfill Waste into Renewable Biofuels
ESG Today Newsletter – Subscribe
Subscribe to the ESG Today NewsletterJoin our mailing list for the latest breaking ESG investment news!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsR & DProcurement & ContractingSupply Chain & DistributionSustainabilityStrategyTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Sustainable Finance
Constellation Energy Issues First Nuclear-Focused Green Bond in U.S.
Deutsche Bank Ties Senior Exec Compensation to Loan Book Decarbonization Goals
RBC Adds “Decarbonization Finance” Category for Hard-to-Abate Sectors to Sustainable Finance Framework
Canada Issues $4 Billion Green Bond
Government
Watered-down Supply Chain Sustainability Due Diligence Law Passes First Hurdle in EU Parliament
EU Council Approves Scaled-Back Environmental, Human Rights Sustainability Due Diligence Law
Google Commits to $35 Million of Carbon Removal Credits over Next 12 Months
U.S. Invests $750 Million in Projects to Accelerate Clean Hydrogen Production
Categories
Select Category
Business Wire
ESG News
Analysis
Climate
Companies
Energy Transition
Environment
ESG Reporting
ESG Tools, Services
Executive Moves
Governance
Government
Guest Posts
Investors
M&A
New funds & products
Platforms & Markets
Private Equity & Venture Capital
Professional bodies
Regulators
Reports, Studies
Social
Social & Governance
Sustainable Finance
Welcome
Back to Top
Home
About us
Disclosure, cookies & privacy policy
© ESG Today 2024
Don’t miss the top ESG stories!Join the ESG Today daily newsletter and get all the top ESG stories, like this one.
Subscribe now below!
LevelC-LevelSVP / EVPDirector / VPManager / SupervisorMid or Entry LevelFreelance / ContractStudent / InternRetiredOther
FunctionAccounting & FinanceBusiness Development & SalesCustomer SupportFacilitiesHR & TalentInvestingLegalMarketing & CommunicationsOperationsProcurement & ContractingR & DStrategySupply Chain & DistributionSustainabilityTechnologyOther
SUBSCRIBE!
You have Successfully Subscribed!
Never miss the latest breaking ESG investment news. Get ESG Today’s newsletter today!
Subscribe Now
c
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy