- Five-year contract will deliver emissions reductions of
100,000 metric tons of CO2— equivalent to flying 177,000
economy-class passengers round trip between Boston and London1
- 100,000 metric tons of CO2 would represent more
than half of BCG's air travel CO2 emissions in
2023
- This is BCG's largest SAF certificate purchase to
date
BOSTON,
May 7, 2024 /PRNewswire/
-- Boston Consulting Group (BCG) today announced it has signed
an agreement for the purchase of sustainable aviation fuel
certificates (SAFc) with World Energy, the sustainable aviation
fuel (SAF) producer and low-carbon solutions provider. A key part
of BCG's commitment to achieving net zero climate impact by 2030,
the agreement will run through 2028. It is expected to deliver an
emissions reduction of 100,000 metric tons of CO2 over
the next five years.
The sustainable aviation fuel will be made with
state-of-the-art technology, refining hydroprocessed esters and
fatty acids (HEFA) using waste fats, waste oils, and other residues
as feedstocks. The high-quality fuel will be certified against the
relevant industry standards to ensure its sustainability. The
SAFcs are expected to flow through the SAFc Registry, a globally
accessible platform that aims to bring consistency and transparency
to the SAF certificate market.
This is BCG's largest SAF certificate purchase to
date. It builds on BCG's long-term engagement with the SAFc market,
that began with its participation in the World Economic Forum-led
Clean Skies for Tomorrow coalition in 2019. BCG is also a founding
member of the Sustainable Aviation Buyers Alliance, and participant
in its first collective procurement effort. World Energy was the
world's first commercial-scale producer of SAF and currently offers
the only SAF that is both Roundtable on Sustainable Biomaterials
(RSB) and CORSIA certified, delivering very low carbon
intensity, achieving more than 80% emissions reductions over its
lifecycle versus conventional 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 the company to make a
greenhouse gas reduction claim on climate disclosures, while the
physical SAF flows to an aircraft operator. The integrity of the
transaction is digitally tracked and third-party verified through a
ledger system, chain of custody model known as Book & Claim.
This Book & Claim logic is similar to the one that has
supported investment in renewable energy for many years. This
purchase is part of a collection of SAF certificate deals
coordinated by the Sustainable Aviation Buyers Alliance, of which
BCG is a founding member.
About Boston Consulting Group
Boston
Consulting Group partners with leaders in business and society to
tackle their most important challenges and capture their greatest
opportunities. BCG was the pioneer in business strategy when it was
founded in 1963. Today, we work closely with clients to embrace a
transformational approach aimed at benefiting all
stakeholders—empowering organizations to grow, build sustainable
competitive advantage, and drive positive societal impact.
Our diverse, global teams bring deep industry and
functional expertise and a range of perspectives that question the
status quo and spark change. BCG delivers solutions through
leading-edge management consulting, technology and design, and
corporate and digital ventures. We work in a uniquely collaborative
model across the firm and throughout all levels of the client
organization, fueled by the goal of helping our clients thrive and
enabling them to make the world a better place.
About World Energy:
World Energy is a
low-carbon solution pioneer working with leading companies to help
meet their net zero commitments. With operations in sustainable
aviation fuel, clean hydrogen, advanced biofuels, and fully
transparent decarbonization services, World Energy is collaborating
to confront the biggest decarbonization challenges in the
hardest-to-abate sectors. For over 25 years, World Energy has been
at the forefront of commercializing renewable fuels and was the
world's first commercial-scale sustainable aviation fuel producer.
Today, World Energy is investing over $15
billion into major new projects in California, Texas, and Newfoundland to help leaders accelerate their
efforts to make net zero real. Learn more at
www.worldenergy.net.
1 https://applications.icao.int/icec
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SOURCE World Energy