https://www.esgtoday.com/bank-of-america-to-address-travel-emissions-through-shell-amex-saf-purchase-program/
Bank of America has joined a sustainable aviation fuel (SAF) purchase program facilitated by American Express Global Business Travel (Amex GBT) and Shell Aviation.
The program aims to enable companies to address their travel emissions by using SAF and support the growth of the SAF market.
The program utilizes a book-and-claim model on the blockchain-powered Avelia platform, allowing business travelers to pay for SAF and claim the environmental benefits, even if SAF is not available at their departure airport.
Bank of America is the first financial institution to join the program, setting SAF-focused commitments, including supporting the production and use of one billion gallons of SAF and mobilizing $2 billion in sustainable finance for SAF production by 2030.
The bank aims to utilize SAF for at least 20% of its total annual corporate and commercial jet fuel usage by 2030.
The collaboration between Bank of America, Amex GBT, and Shell Aviation highlights the role of the corporate travel program in achieving sustainability goals and scaling SAF usage in the aviation sector.
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