Bank of America, Boom Supersonic, Boston Consulting Group, JPMorgan Chase & Co., Meta and clean energy nonprofit RMI are joining together through the Sustainable Aviation Buyers Alliance to purchase SAF certificates at scale, according to a news release.
“This leap forward from previous individual SAF certificate purchases by corporations dramatically strengthens the demand signal aviation customers are sending to the SAF market,” the release states.
The SAF involved in the SABA transaction is produced by World Energy and reduces lifecycle carbon emissions by 84% compared to conventional jet fuel. SABA members are purchasing SAF certificates linked to 850,000 gallons of this high-integrity SAF, which is being used to fuel JetBlue flights this year.
The competitive procurement process that led to the purchase, open to major US and international air carriers, required proposals demonstrate that fuel met key sustainability criteria. ENGIE Impact provided expert support in managing the process and the final selection of the winning bid.
Corporations purchasing SAF certificates pay some or all of the premium associated with SAF, pursuing decarbonization efforts that directly reduce emissions in the aviation sector.
Following the successful completion of this first joint procurement, SABA is launching its second procurement process where it seeks to procure SAF certificates across a five-year timeframe.
“This second process will be open to all airlines and fuel providers,” the release states. “SABA expects to increase its annual collective demand by more than 10 times compared to this first process.”
SABA was formed by the Environmental Defense Fund (EDF) and RMI.
