More government pressure is needed for Hong Kong’s aviation sector to meet its climate goals, even as uptake of sustainable aviation fuel (SAF) has risen from a low base thanks to corporate support, according to Cathay Pacific.
“Regulators have a key role to play for a level playing field, so that every [player] is doing the right thing for society,” Grace Cheung, the flagship carrier’s general manager of sustainability, told the Asia Securities Industry and Financial Markets Association’s sustainable finance conference on Wednesday.
“If we leave it to the market, every company will wait for their competitors to make the first move.”
Aviation is difficult to decarbonise due to the industry’s long innovation cycles, the prioritisation of safe operations and the high costs of key technologies, consultancy McKinsey said last year. SAF is three to five times more expensive than conventional jet fuel, according to industry media outlet AvBuyer.
