DHL Express and Standard Chartered to Cut Carbon Emissions

DHL Express and British bank Standard Chartered announced a new partnership as the shipping giant boosts its efforts with Sustainable Aviation Fuel (SAF) initiatives.

The agreement includes a joint investment in SAF, a cleaner alternative to conventional aviation fuel derived from sustainable feedstocks like used cooking oil and waste. It is expected to reduce carbon emissions by up to 80%. Standard Chartered is among the first banks to use DHL's GoGreen Plus service globally and has pledged to achieve net zero emissions in its operations by 2025 and in its financed projects by 2050.

As part of the initiative, the bank expects to reduce its emissions by up to 30 percent in the first year (compared to a base year of 2019) and an expected additional annual reduction of 7% starting in 2025. Between 2024 and 2030, the initiative is expected to result in a saving of 3,780 tonnes of CO2.

“We hope that this agreement will inspire other companies to switch to low-emission transport services using sustainable aviation fuel.” said Yung C. Ooi, Senior Vice President for Commercial, Asia Pacific, DHL Express. 

To monitor its sustainability performance, the bank will receive reports on its carbon footprint and overall emission reductions, verified by an independent auditor. 

DHL Express launched the GoGreen Plus service in 2013, allowing customers to reduce their carbon footprint with the help of SAF. The company’s air freight network is responsible for approximately 90% of its CO2 emissions. GoGreen Plus is part of the company's broader objective to achieve net-zero emissions by 2050.

“This is a win-win for our customers and is in line with our own commitment to achieving net zero emissions at Standard Chartered,” added Khuresh Faizullabhoy, Managing Director & Chief Operating Officer, Trade at Standard Chartered

GoGreen Plus is supported by SAF contracts with BP, Neste, and World Energy.