Bank of America, Boom Supersonic, Boston Consulting Group, JPMorgan Chase & Co., Meta and clean energy non-profit RMI are teaming up under the Sustainable Aviation Buyers Alliance (SABA) to purchase sustainable aviation fuel (SAF) certificates at scale.
SAF is more expensive than kerosene but produces far lower emissions. The corporations involved in the certificate purchase initiative pay the premium for the SAF.
"Our support and purchase of SAF through SABA is one way in which we are working to meet our goal of utilising SAF for at least 20% of the company's annual employee aviation fuel usage by 2030, while spurring broader demand to make SAF more accessible and affordable," said Alex Liftman, global environmental executive at Bank of America
The collaboration is a "leap forward from previous individual SAF certificate purchases", according to RMI, which said the certificates are linked to 850,000 gallons of "high integrity SAF" which JetBlue will use to fuel some of its 2023 flying.
"SAF is the most meaningful way we have to decarbonise the aviation industry, but it will take many stakeholders working together to bring the supply and cost of SAF where we need to meet our net zero goals," said Sara Bogdan, JetBlue's director of sustainability.
"World Energy is honoured to be the fuel producer for SABA's first aggregated SAF purchase," said Adam Klauber, the company's sustainability chief.