DHL Express, Standard Chartered to co-invest in SAF

DHL Express announced that they have signed a strategic partnership with Standard Chartered to co-invest in sustainable aviation fuel (SAF) helping the bank to balance CO2 emissions from its upstream logistics with high quality Verified Emission Reductions (VER) carbon credits.

“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,” explains Yung C. Ooi, senior vice president for commercial, Asia Pacific, DHL Express.

Meanwhile, Khuresh Faizullabhoy, managing director & COO, trade, Standard Chartered said that: “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.”

Beginning on January 1, 2024, Standard Chartered is one of banks to use the DHL GoGreen Plus service globally.

Standard Chartered is eyeing to achieve net zero in its operations by 2025 and financed emissions by 2050. With this strategic partnership with DHL, the bank aims to supporting the logistics provider to scale the use of SAF.

Meanwhile, the move will help the bank expects to reduce emissions by up to 30% in year one (against a 2019 baseline) with an expected incremental reduction of 7% year on year from 2025.