The fund is also supported by oneworld alliance member airlines International Airlines Group (IAG), Cathay Pacific, and Japan Airlines. Recognizing the power of collective action, oneworld and Breakthrough Energy Ventures made an early decision to welcome non-alliance investors, including Singapore Airlines, which shares the alliance’s commitment to accelerating industry-wide progress in SAF.
“Sustainable Aviation Fuel is the most viable pathway for the aviation industry to progress to reach net zero. With our oneworld partners we have actively supported collective efforts on sustainability and today’s announcement further highlights the potential of collaboration, demonstrating how leading airlines can come together with the goal to accelerate action. To unlock SAF’s full potential, we are calling for supportive policy frameworks that help attract investment and enable the infrastructure needed to kickstart production.”
– Luis Gallego, chief executive officer, IAG
“As an airline with significant long-haul operations, scaling innovation to make SAF more accessible and cost-competitive is critical to Cathay Pacific’s future. This investment reflects our belief that only through collective action – across geographies and industries – can we build a resilient and scalable SAF ecosystem that delivers meaningful environmental progress and supports the future of our industry. And with Asia continuing to play a pivotal role in the global SAF ecosystem, we’re proud to help lead this momentum from the region.”
– Ronald Lam, chief executive officer, Cathay Group
“Relationships and connections with countries and regions around the world through air transportation are necessary for an island nation like Japan, thus we believe we have a mission to tackle the environmental impact of air transportation. Working towards this common mission for oneworld, we look forward to promoting technology and the use of SAF together with the member airlines, anticipating expansion into the Asian region in the future.”
– TOTTORI Mitsuko, president and representative director, Group CEO
“Our investment in this fund demonstrates Singapore Airlines’ strong support for developing and commercialising next generation Sustainable Aviation Fuels. Reducing the carbon emissions of jet fuel demands collective action across the entire aviation ecosystem, and such initiatives will drive innovation towards meaningful progress in this crucial energy transformation.”
– Ms Lee Wen Fen, chief sustainability officer, Singapore Airlines
The global aviation industry, which generates some $4.1 trillion in economic activity and supports 86.5 million jobs, currently accounts for approximately 2-3% of global carbon dioxide emissions, in addition to other environmental impacts. Airlines and manufacturers continue to invest in modern aircraft, engines and operational efficiencies. Demand for air travel is expected to rise in the coming decades, and SAF, which today can reduce lifecycle emissions of jet fuel by up to 80% compared to conventional jet fuel, is a crucial tool for mitigating the industry’s environmental impact. While SAF can significantly decrease the carbon dioxide emissions from aircraft engines, the first-generation SAF in production today has come with challenges. The SAF industry has not yet attracted the investment required to scale production at competitive prices in line with market needs, and lifecycle environmental impact is a concern. oneworld and its partners are focused on supporting new technologies that can scale the availability of cost-competitive SAF, while minimizing other environmental impacts.
