News
Japan launches world’s first industry initiative to promote SAF production
September 5th 2024
Seven leading companies in Japan - Japan Airlines, ITOCHU Corporation, ENEOS Corporation, NIPPON EXPRESS HOLDINGS INC., Mizuho Bank, Mizuho Research & Technologies and Narita International Airport Corporation – are developing a scheme for trading to encourage use of Sustainable Aviation Fuel (SAF). Read More » The participating companies will conduct a demonstration test of Scope 3 environmental value trading to verify the concept driving the initiative. It is the world’s first attempt at bringing together fuel suppliers, an airline, a forwarder and an airport operator to jump start trading in Scope 3 environmental value. Brisk trading in environmental value via this project’s scheme will make it possible to share the costs associated with SAF across the air transport value chain, the partners said. After a trial phase of trading, a full-scale demonstration project, with a larger number of participating companies, will begin. Founding members said having a large number of air transport companies participating in the project will generate substantial opportunities to drive the widespread uptake of SAF in Japan.
