Climate change matters
We, at Cathay Pacific are committed to reducing our carbon emissions and mitigating the impact air travel has on climate change. The use of non-renewable fossil fuels is not only a major operating cost for us, but it also has a significant environmental impact.
There are increasing economic, environmental and social incentives for us to be a more sustainable airline. Our belief is that implementing sustainable solutions, such as fuel efficiency, new fleet and sustainable biofuels will help address our overall environmental impacts.
We agree with our stakeholders that climate change is one of the company’s highest environmental challenge and we should address it as a priority. Therefore, we will continue to manage the long-term impacts of our carbon footprint in an innovative manner.
What our stakeholders think
Not surprisingly, climate change, carbon emissions and energy efficiency remain as the primary environmental focus for stakeholders. In particular, the volatility of fuel prices and supply is perceived to have a high impact on our business, along with increasing regulations such as the emergence of different Emissions Trading Schemes, and the development of a global market-based measure, the Carbon Offset Reduction Scheme for International Aviation (CORSIA).
In particular, biofuels will play a major role in helping us achieve our emissions goal. Climate change has been a material issue for us for a long time and stakeholders recognise our dedication in prioritising innovative ways to improve our environmental impact. However, at the same time, stakeholders expect us to adopt targets that exceed those of the industry, which we have since 2012 in terms of our efficiency improvement target.
There is an expectation for us to further enhance our approach to mitigating climate change effects, especially with staff. We understand the need for us to engage more proactively and publicly on this issue.