VICTOR X NESTE: “Guilt Free” Flying
With the help of Victor, an on-demand private jet service, and Neste, the world’s top manufacturer of Sustainable Aviation Fuel (SAF), corporations may now make a significant, quantifiable impact on the environment through their Scope 3 emission reduction strategy. With the new Victor x Neste relationship, companies can voluntarily purchase Neste MY Sustainable Aviation Fuel TM to decrease their jet charter travel’s carbon footprints by up to 80%1. This provides for a clear and measurable reduction on every booking.
Why is the partnership important to Corporates?
Scope 3 emissions, which include things like executive air travel and transportation in the supply chain, can account for more than 70% of a company’s total carbon emissions, as reported by the UN Global Compact Network2. Credible, in-sector techniques for carbon emission reduction and reporting are sought by corporations who are committed to cutting back on their Scope 3 emissions, and more especially, those resulting from jet charter trips. Victor x Neste is the first company to provide Neste MY SAF TM as an option for corporate clients reserving private jet travel for their executives, allowing these clients to actively manage their climate impact.
Victor and Neste urge other Corporates to consider voluntary SAF contributions as part of their Scope 3 strategies, in a month when Burberry announced the approval of their Net Zero emissions strategy by the Science Based Targets Initiative (SBTi) - the gold standard for companies setting goals to reduce their carbon emissions.
More businesses must fund Jet Zero. At the Farnborough Airshow in July, the government unveiled its new “guilt free” Jet Zero policy for the aviation industry. The UK domestic aviation industry has been committed to achieving Net Zero emissions by 2050, and the government has announced its sustainability strategy for aviation on the hottest day ever. The requirement to use 10% SAF by 2030 is an important aspect of the road map.
The Climate Change Committee (CCC) has warned that the United Kingdom is only on track to remove 40% of the emissions needed to attain Net Zero, despite this latest policy. The CCC stated that while the UK is one of the world leaders in reducing CO2, urgent action is needed to match the pledges made by the government. Thus, immediate voluntary contributions are required from important Corporates and HNW individuals who have the means and resources to account for their aviation choices, over and above the regulations. In response, the demand for SAF will rise as pressure is applied to their contemporaries, allowing production to grow and making the 2030 goal a reality.
Toby Edwards, Co-CEO at Victor, commented: “At Victor we believe in a better way to fly and given our international customer base of corporates and influential HNWs, it’s important we play our part by offering a credible and immediate in-sector solution for reducing carbon emissions. By signing up to Science Based Targets and choosing to replace fossil fuel with SAF, Corporates and HNWs can charter aircraft with a clear conscience. Whilst we are delighted that the UK government have put firmer mandates in place with Jet Zero, the global challenge to scale up SAF is enormous – it is the aviation industry’s Everest. Our partnership with Neste has already proven that many customers are willing to pay thousands more for SAF today - we have a working blueprint to decarbonise aviation - it just needs to scale.”
With its own goal of 10% SAF on all Victor bookings by 2030, Victor is in a good position to aid the government in reaching its aims.
Jonathan Wood, Vice President Europe, Renewable Aviation, at Neste said: “We have created an industry-leading blueprint that we hope other companies will follow as the aviation sector strives for Net Zero carbon emissions by 2050. SAF is essential to reaching this goal, immediately reducing life-cycle greenhouse gas (GHG) emissions. Neste is committed to support aviation’s emission reduction goals and believes that requires a joint effort where everyone’s choice matters.”
What is Neste MY Sustainable Aviation Fuel?
All of the raw materials used to make Neste MY SAFTM are renewable byproducts and wastes, such as vegetable oil and rendered animal fat. Neste MY SAF is currently being manufactured and can be used right away, while SAF credits are still in the planning stages or have yet to be generated. Using a SAF solution that conforms to the aviation sector guidance by SBTi, Victor’s corporate and individual passengers can assume responsibility for their CO2 emissions. With Neste MY SAFTM, they may cut their reservation’s GHG emissions by up to 80% 3 compared to those caused by flights powered by fossil jet fuel.
How the Victor x Neste offering works?
Customers who book with Victor, whether they are individuals or businesses, can lessen their carbon dioxide emissions (CO2e) by tracing the origin of their goods. Real in-sector climate advantages are provided by Neste as they guarantee the delivery of certain amounts of SAF ordered by Victor members to partner aircraft operators.
Victor members will not charter using the Neste MY SAF™ they have purchased for their own flight, however their SAF contribution will ensure another in-sector partner flight benefits from a carbon emission reduction by the amount purchased, ensuring this partnership is aligned with Science Based Targets.
At checkout during the booking process, all Victor members can now easily choose how much fossil fuel they want to replace with Neste MY SAF™, from as little as 5% up to 100%.
The Victor member’s charter booking receipt will itemise exactly how much Neste MY SAF™ the Victor member has purchased.
To avoid any confusion in case of changes (for instance to the exact aircraft booked, the flight itinerary, or a cancellation), Neste will only deliver the SAF purchased by the Victor member to their partner airline after the Victor member’s private flight has fully flown.
Neste will then send a Delivery Confirmation Document with confirmation of the carbon dioxide emission reduction, which can be used for science-based reporting by the Victor member.
Discover more: flyvictor.com