Scaling the use of sustainable aviation fuel: DHL Express and Standard Chartered announce strategic partnership
- Standard Chartered is among first banks to use DHL’s GoGreen Plus service to help scale the use of sustainable aviation fuel
- Partnership supports the bank’s sustainability ambitions by balancing emissions linked to its upstream logistics with high quality Verified Emissions Reductions carbon credits
Bonn/Singapore, March 19, 2024 – DHL Express, the global market leader in international express shipping, has signed a strategic partnership with leading cross-border bank, Standard Chartered, for DHL Express’s GoGreen Plus service. Through the agreement, the two organizations have agreed to coinvest in Sustainable Aviation Fuel (“SAF”), allowing Standard Chartered to balance CO₂ emissions linked to its upstream logistics with high quality Verified Emission Reductions (VER) carbon credits. Starting January 1, 2024, Standard Chartered is among the first banks to use the DHL GoGreen Plus service globally.
The bank has committed to net zero in its own operations by 2025 and in its financed emissions by 2050. It is also innovating with partners to make its supply chain more sustainable. The DHL partnership is one example of this. Through cooperation with DHL, Standard Chartered is supporting the logistics provider to scale the use of SAF, which – compared with traditional jet fuel – can help to reduce lifecycle emissions of typical aviation fuel by up to 80 percent. In turn, it expects to see its own related emissions reduced by up to 30 percent in year one (against a 2019 baseline) with an expected incremental reduction of seven percent year on year from 2025. The bank estimates that 3,780 tonnes CO2e will be saved between 2024 and 2030. It will receive a monthly report on the carbon footprint of its shipments as part of GoGreen Plus and quarterly certification of the emission reduction achieved by an independent auditor.
Strong partnership for sustainable transport
“The partnership between Standard Chartered and DHL has been going strong for more than two decades. They were the first bank to adopt our GoGreen1 service in 2011 and are now working with us to make international express shipping more sustainable,” explains Yung C. Ooi, Senior Vice President for Commercial, Asia Pacific, DHL Express. “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.”
“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”, says Khuresh Faizullabhoy, Managing Director & Chief Operating Officer, Trade at Standard Chartered. “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.”
Net-zero emissions by 2050 is the goal
In 2023, DHL Express launched the GoGreen Plus service, allowing customers to reduce the CO2e emissions associated with their air freight with the help of SAF. GoGreen Plus is made possible by three of the most significant SAF contracts with BP, Neste, and World Energy. SAF is made from alternative raw materials with a sustainable energy profile, including used cooking oil, waste and hydrogen. Conventional carbon-intensive aviation fuels or kerosene are derived from mineral oil. GoGreen Plus is part of DHL Group’s goal to achieve net-zero emissions by 2050. The air freight network accounts for around 90 percent of the company’s carbon footprint, so sustainable air transportation solutions are crucial for greener logistics.
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DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivaled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 395,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”. DHL is part of DHL Group. The Group generated revenues of more than 81.8 billion euros in 2023. With sustainable business practices and a commitment to society and the environment, the Group positively contributes to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.
