DHL Express is further building up its Sustainable Aviation Fuel (SAF) operations with the signing of a strategic partnership with international bank Standard Chartered for its GoGreen Plus service.
The two companies have agreed to co-invest in SAF, allowing Standard Chartered to balance CO₂ emissions linked to its upstream logistics with Verified Emission Reductions (VER) carbon credits.
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Standard Chartered is among the first banks to use the GoGreen Plus service globally, and has committed to net zero emissions in its own operations by 2025 and in its financed emissions by 2050, said DHL Group.
The bank expects to see its own emissions reduce by up to 30% in year one (against a 2019 baseline) with an expected incremental reduction of 7% year on year from 2025. It estimates that 3,780 tonnes CO2e will be saved between 2024 and 2030.
Standard Chartered 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.
“The partnership between Standard Chartered and DHL has been going strong for more than two decades. They were the first bank to adopt our GoGreen service in 2011 and are now working with us to make international express shipping more sustainable,” said Yung 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.”
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“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,” said Khuresh Faizullabhoy, managing director and chief operating officer, trade at Standard Chartered.
“Whilst the digitisation 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.”
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