World Energy Announces Sustainable Aviation Fuel Agreement with Boston Consulting Group to Step Up Decarbonization Investment

• 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.

>> In Other News: Air Products Announces Successful Performance Test of AP-DMR™ LNG Process Technology for Coral South FLNG Facility

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

SOURCE World Energy