Inflexion signs deal to reduce carbon footprint by 80% through Sustainable Aviation Fuel
Reed & Mackay, the leading global travel and event management company and part of the Navan Group, last month announced a partnership to offer Neste MY Sustainable Aviation Fuel™ to all Reed & Mackay clients. Today, Inflexion becomes the first UK corporate to take advantage of the partnership to significantly reduce the environmental impact of their business travel.
Neste MY Sustainable Aviation Fuel is made from sustainably sourced renewable waste and residue raw materials. In its neat form and over the life cycle, Neste MY Sustainable Aviation Fuel reduces greenhouse gas emissions by up to 80%* as compared to fossil jet fuel use. The fuel enables significant reductions in flying-related emissions, giving businesses an opportunity to contribute to reportable emission reductions with Science-Based Targets (SBTs). With this, companies can show progress towards their emission reduction goals and leadership in the ongoing fight against climate change.
“We’re proud to be the first UK corporate to support this landmark sustainability initiative,” says Simon Turner, Managing Partner at Inflexion. “ESG is increasingly important to everything we do as a firm and through this partnership, we can now reduce our flying-related emissions, thereby contributing to our overall journey towards net-zero.”
After purchase, the delivery process of the SAF provided by Neste is audited by a third party. This verifies that the agreed-upon volumes of SAF have been delivered, the airlines have confirmed acceptance and use of the fuel, and that the realized emission reduction from flying can only be claimed by the company that purchased the SAF.
“We’re thrilled to see the first Navan Group client use the innovative partnership to minimise their climate impact,” says Thorsten Lange, Executive Vice President of Renewable Aviation at Neste.
*Calculated with established life cycle assessment LCA methodologies, including EU RED and CORSIA.
Inflexion is a leading mid-market private equity firm which invests in high growth, entrepreneurial businesses with ambitious management teams and works in partnership with them to accelerate growth. Inflexion’s flexible approach allows it to back both majority and minority investments, typically investing £10m to £300m of equity in each deal.
With bespoke teams and dedicated capital, Inflexion’s funds invest across a variety of sectors from offices in London, Manchester and Amsterdam. Inflexion helps businesses achieve the next stage of growth through M&A, international expansion, digital enhancement, talent development, commercial strategy, and access to Inflexion’s global networks. It also benefits from a local presence in Bangalore, Boston, São Paulo and Shanghai dedicated to portfolio development, enabling investee companies to benefit from privileged access to these fast-growth markets.
Inflexion is one of Preqin’s most consistent Top Performing Buyout Funds, and is a regular recipient of industry accolades for its success in growing the businesses it backs.
Funds advised by Inflexion Private Equity Partners LLP have funds under management of c.£5.4bn.
Read more at www.inflexion.com
ABOUT REED & MACKAY
Reed & Mackay delivers corporate travel and event solutions, helping businesses to connect effortlessly across the globe. Established as a family business nearly 60 years ago, today, Reed & Mackay is recognised as the global leader for delivery of extraordinary service in the travel and events arena. Born from close working relationships within the financial, legal and insurance sectors, Reed & Mackay combines inspired service with state-of-the-art technology to create a level of travel and event management like no other and deliver value that you might not believe possible. In May 2021, Reed & Mackay became part of the Navan Group and continues to operate as a standalone brand. Read more: www.reedmackay.com
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2020, Neste’s revenue stood at EUR 11.8 billion, with 94% of the company’s comparable operating profit coming from renewable products. Read more: neste.com