AVIATION INDUSTRY

BBVA joins Iberia initiative to reduce the carbon footprint of corporate flights

This alliance, which also includes Telefónica, Repsol and Amadeus, facilitates greenhouse gas emission reduction through the use of sustainable fuel on certain Iberia corporate and cargo flights.

According to the International Air Transport Association (IATA), sustainable aviation fuel accounted for 0.3 percent of global airplane fuel production in 2024. By 2050, the IATA estimates that nearly 500 billion liters will need to be produced to reach the net-zero emission target. Through collaborative efforts, Iberia’s Círculo SAF aims to support the energy transition by promoting the development of SAF. Círculo companies purchase an amount equivalent to a set percentage of the carbon footprint generated by certain corporate and cargo flights operated by Iberia. This contributes to global emission reductions for the aviation industry, while allowing member companies to reduce part of their Scope 3 emissions.

As a member of this initiative, BBVA will be able to reduce emissions from its corporate flights on Iberia by 30 percent, within Scope 3, Category 6, which refers to emissions associated with employees’ business travel¹.

“Becoming a member of Iberia’s Círculo SAF means taking another step further in managing our carbon footprint, while supporting the aviation sector’s decarbonization efforts. A sector we included in our decarbonization targets in 2023, and one that requires both the development of cleantech and the participation of companies and governments to promote the use of sustainable aviation fuel,” said Leonardo Pereyra, Head of Direct Impact in the Sustainability Area at BBVA. He also stressed the importance of alliances of this kind “to propel the energy transition.”

Participating companies receive certification for the SAF used on Iberia flights. The SAF is certified according to the sustainability criteria established by the European Renewable Energy Directive (RED II).

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