Marubeni – Commencement of a Feasibility Study for a Biomass to Sustainable Aviation Fuel Project in Malaysia.
Marubeni Corporation (hereinafter, “Marubeni”) signed a memorandum of understanding (hereinafter, “MOU”) regarding a feasibility study（hereinafter, the “PoC”） on the production and sales of sustainable aviation fuel*1 (hereinafter, “SAF”) utilizing biomass resources in collaboration with InvestSarawak, a Malaysian state government agency under the purview of the Ministry of International Trade, Industry and Investment, in Sarawak, Malaysia, on May 15, 2024.
The Environment Surrounding the Aviation Industry
The aviation industry is currently facing an urgent need to reduce CO2 emissions throughout the world, and the International Civil Aviation Organization (ICAO) has accordingly introduced a CO2 emission reduction system.*2 SAF has great potential as a new generation low carbon fuel to replace conventional jet fuel, and the demand for SAF is expected to grow.
Future Outlook
Marubeni formulated its long-term climate change vision in March 2021 and has positioned its green strategy as one of the basic policies for enhancing corporate value in its mid-term management strategy GC2024. Marubeni, together with InvestSarawak, will contribute to create new businesses, thereby contributing to the development of various industries and the economy in the state of Sarawak.
1 Jet fuel that is not derived from fossil fuels and whose total life cycle CO2 emission volume is lower than fossil fuels. There are several pathways in which municipal solid waste, vegetable oil, used cooling oil, and other materials, in addition to biomass, are utilized as source materials for such fuel.
2 In 2016, the ICAO adopted the Carbon Offsetting and Reduction Scheme for International Aviation (hereinafter, “CORSIA”). Under CORSIA, airlines are obligated to procure CO2 emission credit and offset carbon emissions if their CO2 emission volumes exceed the given limits, so that their CO2 emission amounts in their entirety do not increase from the ones recorded in 2021.
InvestSarawak Overview
| Official name: | InvestSarawak (State government agency) |
| Head Office: | Sarawak, Malaysia |
| Establishment: | 2023 |
| Representative: | CEO Timothy Ong Wye Ern |
| Main Business: | Invest promotion, industry development and international trade agency |
| Website: | https://investsarawak.gov.my/ |
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Marubeni – Commencement of a Feasibility Study for a Biomass to Sustainable Aviation Fuel Project in Malaysia. source
