A strategic agreement was reached under DHL's GoGreen Plus service between UOB, a prominent bank in ASEAN, and DHL Express, the world's largest supplier of international express services, to jointly invest in sustainable aviation fuel (SAF) for UOB's international parcel deliveries. UOB estimates that this approach will reduce annual emissions by about 200 tons of carbon dioxide equivalent (CO2e[1]).

For its GoGreen Plus service, UOB and DHL Express have reached a strategic partnership whereby the two companies will jointly invest in the use of sustainable aviation fuel for the Bank's worldwide package deliveries.

At the signing ceremony held on July 22, 2024, at the DHL Asia Pacific Innovation Center, from left to right, are Marcus Lai, Head of Corporate Real Estate Services, UOB; Eric Lim, Chief Sustainability Officer, UOB; and Michiel Greeven, EVP, Global Commercial, DHL Express.

Since its February 2023 launch, DHL's GoGreen Plus service has assisted over 40,000 clients in the Asia Pacific region in reducing their carbon emissions through the use of SAF, which can cut normal aviation fuel's lifecycle emissions by almost 80% when compared to traditional jet fuel. This indicates that DHL's clients across a range of industries have a high desire for sustainable solutions. Since 2022, UOB and DHL have worked closely together to lessen UOB's carbon impact when shipping packages abroad. This year, in March, UOB joined the GoGreen Plus service in order to use SAF.

DHL has a well-defined sustainability plan, and we are aware of our obligation to contribute to the sustainability of aviation travel. Ken Lee, CEO of DHL Express Asia Pacific, stated, "We are honored that UOB has chosen us as their partner to assist in lessening their environmental effect on their international shipping activities. GoGreen Plus service adoption in the area is significant, as evidenced by shippers' desire and preparedness for environmentally friendly logistical options. We are happy to be leading the way because SAF is now the best choice for lowering carbon emissions in aviation.

As to Dentsu's 2023 research intended for the banking and finance sector, six3% of consumers in Asia Pacific acknowledged and experienced the potential consequences of climate change during the next five years. Customers therefore anticipate that governments and brands will move decisively to solve sustainability. As a matter of fact, Asian banks have also committed to achieving net-zero emissions. According to a World Wide Fund for Nature study, the percentage of examined banks with net-zero pledges increased from 15% to 39% between 2021 and 2022.

UOB declared in 2022 that it would drive socioeconomic progress in Southeast Asia, support sustainable practices among its clients and the real economy, and achieve net-zero emissions for its financed emissions by 2050. With SAF, UOB may efficiently lower their Scope 3 non-financed emissions thanks to DHL's GoGreen Plus service. A free Carbon Footprint report and a quarterly certification of the emissions reduction achieved by an independent auditor will also be provided to UOB, including monthly updates on the carbon savings of their parcel shipments.

We are dedicated to coordinating our procurement practices with our sustainability strategy and goals as our operations continue to grow on a regional scale. In an effort to lessen the impact of our supply chain, UOB is the first local bank in Singapore to proactively manage the emissions resulting from our overseas shipping and consignment activities through carbon insetting. Through our partnership with DHL in logistics, we can help the ramping up of SAF adoption as a more effective way to decarbonize supply chains. As a key component of UOB's culture of ethical business conduct, this is a significant step toward achieving sustainable procurement, according to Marcus Lai, Head of Corporate Real Estate Services, Group Finance & Corporate Services, UOB.

One of DHL's global efforts to reach net-zero carbon emissions by 2050 is the GoGreen Plus service. Strategic partnerships with bp and Neste to obtain up to 800 million liters of SAF and with World Energy to supply up to 668 million liters of SAF make it possible. As a front-runner in the logistics sector, DHL remains dedicated to reducing the carbon footprint of its operations and consistently creating cutting-edge environmentally friendly solutions.