Julius Bär Gruppe : Baer signs partnership agreement with SWISS to promote sustainable air travel -September 25, 2023 at 02:07 am EDT


Zurich, 25 September 2023 – Julius Baer is the primary monetary establishment in Switzerland to companion with Swiss Worldwide Air Strains (SWISS) and Lufthansa Group (mother or father firm of SWISS) to advertise extra sustainable air journey. The partnership marks an vital milestone within the Financial institution’s local weather technique which was launched in 2022.

Two-thirds of Julius Baer’s operational greenhouse gasoline emissions consequence from air journey. Within the context of its local weather technique, the Financial institution dedicated to a 30% discount in enterprise journey emissions by 2025 in comparison with 2019. It additionally launched an inside carbon value on air journey of CHF 100 per metric tonne of carbon dioxide equal. These funds are used to buy SAF and fund nature-based carbon elimination tasks to enrich this measure sooner or later.

SAF is an alternative choice to kerosene produced from biogenic waste resembling used cooking oil and animal fats waste. It would play a central function in decarbonising air journey, because it emits at the least 80% much less CO2 emissions than kerosene. Whereas different options, resembling planes with electrical or hydrogen engines, are nonetheless in early levels of improvement, SAF can at this time already be produced at industrial scale and utilized in present plane and infrastructure.

Yvonne Suter, Head Sustainability at Julius Baer, commented: “As a world wealth supervisor, we recognise that air journey is a major a part of our enterprise. Nonetheless, we are able to take steps in the direction of minimising its impression. We’re proud to tackle a number one function in our business in contributing in the direction of the event of extra sustainable air journey.”

SWISS CEO, Dieter Vranckx, added: “We’re delighted to embark on this new partnership with Julius Baer. Like SWISS, Julius Baer is energetic everywhere in the world. And like SWISS, it provides individualised providers to discerning prospects who search and anticipate high product high quality. In electing to turn out to be the primary Swiss monetary establishment to crew up with SWISS to amass sustainable aviation gasoline for its enterprise journey, Julius Baer is adopting a pioneering function in making mobility extra sustainable.”

Disclaimer

Julius Bär Gruppe AG revealed this content material on 25 September 2023 and is solely answerable for the knowledge contained therein. Distributed by Public, unedited and unaltered, on 25 September 2023 06:06:41 UTC.



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