World Energy and Boston Consulting Group join forces on SAF certificates, cutting emissions by 100,000 metric tonnes of CO2 over five years, advancing BCG's net zero goal by 2030. This boosts BCG's commitment to decarbonize air travel and expand SAF production.
By Shreya M
Today, World Energy, a manufacturer of sustainable aviation fuel (SAF) and a supplier of low-carbon solutions, and Boston Consulting Group (BCG) announced that they had entered into a purchase agreement for SAFc certificates. The agreement, which is valid through 2028, is a crucial component of BCG's pledge to achieve net zero carbon impact by 2030. Over the following five years, a decrease in emissions of 100,000 metric tonnes of CO2 is anticipated. This is BCG's largest purchase of SAF certificates.
Modern technology will be used to refine hydro processed esters and fatty acids (HEFA) from waste fats, waste oils, and other leftovers as feedstocks to create the sustainable aviation fuel. The premium fuel's sustainability will be confirmed by certification against the applicable industry requirements. It is anticipated that the SAFcs will pass via the SAFc Registry, an international platform that attempts to standardise and make the SAF certificate market more transparent.
This expands upon BCG's previous long-term involvement in the SAFc market, which started in 2019 when it joined the Clean Skies for Tomorrow consortium chaired by the World Economic Forum. Along with being a founding member, BCG also took part in the Sustainable Aviation Buyers Alliance's inaugural group buying initiative. With a lifecycle that achieves more than 80% fewer emissions than conventional jet fuel, World Energy is the only supplier of SAF that is certified by both CORSIA and the Roundtable on Sustainable Biomaterials (RSB). It was also the first company in the world to produce SAF on a commercial scale.
"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.
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.
While the physical SAF flows to an aircraft operator, BCG's investment enables the corporation to make a claim on climate disclosures for greenhouse gas reduction. A ledger system and chain of custody concept called Book & Claim are used to digitally track and independently verify the transaction's integrity. The reasoning behind investing in renewable energy for a long time is comparable to this Book & Claim rationale. BCG is a founding member of the Sustainable Aviation Buyers Alliance, which is in charge of arranging a number of SAF certificate transactions, including this one.
World energy-Leading businesses partner with World Energy, a pioneer in low-carbon solutions, to help them achieve their net-zero goals. World Energy is working through activities in clean hydrogen, advanced biofuels, sustainable aviation fuel, and completely transparent decarbonisation services. World Energy has been leading the way in the commercialization of renewable fuels for more than 25 years. World Energy is now investing over $15 billion into significant new projects in Texas, Newfoundland, and California.
Boston consulting group- Boston Consulting Group collaborates with influential figures in industry and society to address their most significant problems and seize their most promising prospects. When BCG was established in 1963, it was a pioneer in the field of business strategy. These days, we collaborate closely with customers to adopt a transformative strategy that benefits all parties involved and enables businesses to expand, create a long-term competitive edge, and have a positive social effect. Our multicultural, multi-ethnic teams offer a variety of viewpoints that challenge the existing quo and spur change, along with extensive functional and industry knowledge. BCG provides solutions through cutting-edge corporate and digital initiatives, technology and design, and management consulting. Driven by the desire to assist our clients, we operate in a particularly collaborative manner both inside the business and at all organisational levels of our clients.
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