A new blockchain platform has been launched that aims to offer airlines a way to sell Sustainable Aviation Fuel (SAF) credits to business customers, with the revenue channelled into supporting the development of the nascent lower carbon fuel sector.
Oil and gas major Shell, professional services giant Accenture, and corporate travel agency American Express Global Business Travel (Amex GMT) this morning launched Avelia, a platform which will enable airlines to sell credits for SAF that has already been delivered into the global aviation fuel network to corporate travellers in a transparent and traceable manner.
The hope is that both airlines and business travellers looking to reduce their climate impact and meet net zero goals will jump at the opportunity to use the platform to help boost the adoption of cleaner aviation fuels, which are seen as the most promising way to decarbonise aviation in the near term, given that zero emission hydrogen-powered and electric aircraft remain in their infancy.
The companies behind the scheme said that emissions reductions generated through the scheme should be able to be counted towards corporate climate goals, noting that its use of blockchain technology would help avoid issues such as double counting of emissions savings.
The ability to sell SAF credits would also provide airlines with a new financial incentive to switch to SAFs, which currently cost considerably more than conventional fuels.
“Our vision for the Avelia platform is to bring together airlines, corporates, cargo players, and SAF suppliers in a trusted ecosystem that no individual company could build or access on its own,” explained Rachel Barton, Europe strategy lead at Accenture. “Blockchain technology will be piloted to help ensure trust via data integrity, validate proof of ownership, and enable transparent tracking of the environmental benefits of SAF for customers.”
The platform aims to leverage blockchain technology and a “book-and-claim” model to ensure…