Avfuel Selects CBL Markets as Carbon Credit Provider

Avfuel Selects CBL Markets as Carbon Credit Provider

13-Oct-2021 Source: Avfuel

After launching its Carbon Offset Program last year, Avfuel Corporation—a leading global supplier of aviation fuel and services—announces its partnership with CBL Markets, a new carbon credit provider for the program. 

CBL Markets will help the fuel supplier with back-end efficiencies for the program, including sourcing green projects, carbon credit accreditation and certificate retiring.   

“After careful consideration and numerous discussions with CBL Markets, Avfuel is excited to finally launch this new partnership,” said Muneeb Ahmed, Avfuel’s director of trading and logistics. “While the customer-facing component of Avfuel’s Carbon Offset Program will remain the same, our new partnership with CBL Markets will allow for greater efficiencies for a more robust offering.” 

Avfuel’s first transaction with CBL Markets was to offset its own 2020 emissions. The fuel supplier announced at NBAA its pledge to offset its own scope 1 and 2 activities, among other emissions—including those from more than 700 customer-leased refueler trucks—on an annual basis to reduce its carbon footprint. To do so for 2020, Avfuel purchased more than 8,000 carbon credits from CBL Markets. 

Avfuel’s Carbon Offset Program is a voluntary sustainability solution; for a small additional per gallon fee, the program helps operators reach net zero by purchasing carbon credits that invest in green projects. All projects Avfuel sources through CBL Markets have strict monitoring, verification and certification requirements to ensure full levels of due diligence and compliance, meeting either the Gold Standard, American Carbon Registry, Climate Action Reserve or Verified Carbon Standard. This means all investments from Avfuel’s Carbon Offset Program are certified to be genuine and ultimately feed directly into environmental projects.

Every carbon credit offsets approximately 100 gallons of jet fuel. Credits are calculated using an industry-standardized formula—measured in accordance with the Greenhouse Gas Protocol and the ISO 14064 Standard—and utilizing carbon dioxide emission coefficients as assigned by the U.S. Energy Information Administration.

Customers interested in carbon offsetting are encouraged to visit Avfuel.com/offset. They can purchase carbon credits either by designating a certain amount of gallons to offset when they purchase fuel from Avfuel or on all fuel-gallons purchased through Avfuel on a continuous basis. Each quarter, Avfuel will send customers a summary of the carbon credit certificates retired from their purchases. 

Avfuel’s Carbon Offset Program is one of a number of sustainability solutions the fuel supplier offers or is working toward, in addition to sustainable aviation fuel (SAF), a book and claim program for SAF, unleaded avgas, and a pledge to offset its own emissions. These initiatives are in response to Avfuel’s commitment to identify, develop, provide and advocate for sustainable solutions, making it Avfuel’s duty to promote environmentally responsible operations at its properties and throughout the Avfuel Network, in addition to facilitating initiatives to help customers reach their sustainability goals.

Those interested in learning more about all of Avfuel’s sustainability initiatives can visit Avfuel.com/Sustainability. 

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