ACB and DHL Express form strategic partnership on green fuel

September 25, 2023 | 10:20
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Asia Commercial Bank (ACB) inked an agreement with DHL Express on September 19 to fully offset carbon emissions for its international express shipments by harnessing DHL's GoGreen Plus service.
ACB and DHL Express form strategic partnership on green fuel

The collaboration leverages sustainable aviation fuel (SAF), an advanced alternative to conventional jet fuel. By investing in the GoGreen Plus service, ACB is poised to reduce its carbon emissions by an estimated 14 tonnes in the coming year.

Ngo Tan Long, deputy CEO of ACB, underlined the bank's steadfast commitment to offering high-quality international payment services.

"By partnering with DHL on the GoGreen Plus initiative, we not only aim to enhance value for our clients but also bolster our commitment to sustainable development, amplified through the concerted efforts of DHL and our dedicated customer base," he said.

ACB has been a frontrunner in intertwining its business strategy with sustainable development, adhering to Environmental, Social, and Corporate Governance (ESG) guidelines.

Its operations strike a balance between short-term outcomes and long-term sustainable growth, with a focus on creating value for all stakeholders.

In 2022, ACB achieved a commendable milestone wherein 93 per cent of its workforce actively engaged in ESG initiatives, saving and recycling 215 tonnes of paper through digitalisation, and replacing 32 tonnes of plastic with environmentally friendly materials. The bank also offset 181 tonnes of CO2 by employing recycled carpet materials.

One of the salient features of the GoGreen Plus service is its annual verification by an independent third-party agency, Société Générale de Surveillance. Additionally, a supplementary Carbon Footprint report detailing the total emissions of ACB in partnership with DHL Express will be updated monthly.

Bernardo Bautista, managing director and country manager of DHL Express Vietnam, said that corporate social responsibility and business success invariably go hand in hand.

"Globally, sustainability and environmental protection are paramount to everyone, including our clients. DHL Express is proud to champion the use of SAF as an effective lever to mitigate carbon emissions. This collaboration provides ACB's customers with a direct avenue to contribute to environmental conservation," Bautista said.

The GoGreen Plus service utilises the "carbon insetting" method and SAF, enabling customers to reduce Scope 33 emissions. SAF is produced from a range of sustainable feedstocks, such as used cooking oil, maize, waste, hydrogen, or synthetic CO2, and is currently the sole viable option for long-haul flights.

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