Swire Pacific Limited
(Incorporated in Hong Kong with limited liability)

For Immediate Release

3 April 2024

As Cathay continues to take important strides towards establishing itself as a sustainability leader, it is pleased to announce the release of its 2023 Sustainability Report, which underscores its ongoing commitments and progress in achieving its sustainability goals together with its customers, business partners, regulators and people.

Chief Executive Officer Ronald Lam said: "Sustainability is inherent in Cathay's purpose - to move people forward in life. We understand that achieving this purpose in a sustainable and responsible manner for current and future generations requires collective efforts. By embracing the collaborative ethos of 'Greener Together', we aim to lead by example and reach new heights in building a more sustainable future.

"Climate change, and materials and waste are our priority areas on the environmental front. As a pioneer of sustainable aviation fuel (SAF), we continue to lead the charge in accelerating collaboration and deployment of SAF within Asia. We are also dedicated to transitioning towards circular solutions by setting a clear roadmap for single-use plastics (SUP) and waste reduction. Meanwhile, in line with our longstanding commitment to making positive contributions to Hong Kong society, we are proud to engage in a multitude of community initiatives with our primary focus on youth development."

Key highlights from the 2023 report include:

• Committing to near-term climate improvements: Building upon its commitment to achieving net-zero carbon emissions by 2050, Cathay set a new near-term target to improve its carbon intensity by 12% from the 2019 level by 2030. To achieve this goal, Cathay's focus remains on accelerating SAF use, modernising its fleet and driving operational improvements.


• Accelerating the use of SAF: SAF remains the most important lever for achieving Cathay's new carbon intensity target and net-zero operations in the long run. In addition to driving further development of the SAF supply chain in the region and conducting its first overseas SAF uplift on commercial flights, Cathay has also expanded its Corporate SAF Programme by establishing partnerships with new corporate clients and a non-governmental organisation.


• Moving towards more sustainable use of resources: Cathay Pacific set a new target to decrease passenger-facing SUP items from an average of 7.7 pieces per passenger in 2019 to 1.5 pieces by 2025. Additionally, Cathay Pacific aims to reduce cabin waste by 30% from the 2019 baseline by 2030. These will be achieved through incorporating circular economy principles into its product and service design by selecting more sustainable or recycled materials upstream, and channelling used items back for recycling or repurposing.


• Revitalising the Hong Kong community: Cathay successfully rejuvenated the Cathay Volunteer Team and engaged in a variety of youth-centric programmes aligned with the Hong Kong SAR Government's Strive and Rise Programme, including the popular Cathay Community Flight and Aviation Exploration Days.

Full details of Cathay's performance and commitments in sustainable development are available in its 2023 Sustainability Report, available here.

For more information about Cathay's sustainability initiatives, please visit here.

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