SINGAPORE, July 25, 2024 – DHL Express, the world’s leading international express service provider, and UOB, a major bank in ASEAN, have announced a strategic agreement to co-invest in sustainable aviation fuel (SAF) under DHL’s GoGreen Plus service. This collaboration aims to significantly reduce the carbon footprint of UOB’s international parcel deliveries, with an estimated annual reduction of approximately 200 tons of CO2-equivalent emissions.
Launched in February 2023, DHL’s GoGreen Plus service has enabled over 40,000 customers in Asia Pacific to cut their carbon emissions using SAF. This fuel can reduce lifecycle emissions by around 80% compared with traditional jet fuel, demonstrating strong demand for sustainable solutions across various industries. UOB has been working closely with DHL since 2022 to minimize its international shipping carbon footprint and has been using the GoGreen Plus service since March 2023.
“DHL has a clear sustainability roadmap, and we understand our role and responsibility to make air transportation more sustainable. We are proud that UOB has selected us to be their partner to help reduce their environmental impact on their international shipping activities,” said Ken Lee, CEO of DHL Express Asia Pacific. “We are seeing a strong uptake of GoGreen Plus service in the region, citing shippers’ readiness and appetite for sustainable logistics solutions. SAF is currently the best option for reducing carbon emissions in aviation, and we are glad to be taking the lead.”
Environmental Sustainability in the Banking and Finance Sector
According to Dentsu’s 2023 report, 63% of Asia Pacific consumers recognize the impact of climate change and expect brands and governments to take firm action on sustainability. Asian banks are responding, with net-zero commitments rising significantly. UOB announced in 2022 its goal of achieving net-zero by 2050 for its financed emissions, supporting sustainable practices among clients and driving socio-economic growth in Southeast Asia.
DHL’s GoGreen Plus service enables UOB to effectively reduce their Scope 3 non-financed emissions with SAF. Additionally, UOB will receive monthly updates detailing the carbon reductions of their parcel shipments through a complimentary Carbon Footprint report and quarterly certification of the emissions reduction by an independent auditor.
“As our operations continue to expand regionally, we are committed to aligning our procurement activities with our sustainability strategy and objectives. UOB is the first local bank in Singapore to proactively address the emissions from our consignments and international shipping activities through carbon insetting. This collaboration with DHL supports the scaling of SAF usage as a better alternative to decarbonize supply chains. This is a meaningful step towards sustainable procurement, integral to UOB’s ethos of responsible business practices,” said Marcus Lai, Head of Corporate Real Estate Services, Group Finance & Corporate Services, UOB.
The GoGreen Plus service is part of DHL’s global initiative to achieve net-zero carbon emissions by 2050. This is made possible through strategic collaborations with bp and Neste for up to 800 million liters of SAF and with World Energy for up to 668 million liters of SAF. As a leading logistics company, DHL remains committed to decarbonizing its operations and developing innovative green solutions for the logistics industry.