A wide range of organizations can get involved in book-and-claim to inset their scope 3 emissions, including corporate travellers. Businesses often have significant scope 3 emissions arising from employees’ travel (category 6). In addition, shippers or freight forwarders can play a big role in reducing the carbon footprint of products being shipped by air. The role of other players such as financiers, lessors or airports with scope 3 is also being explored. The benefit of book-and-claim is that it allows for revenue diversification by attracting players throughout the value chain. In addition, it spreads the SAF premium across a wider range of stakeholders. The World Economic Forum has published guidelines on the establishment of a SAF credit (SAFc) system. To prevent double counting, the SAFc system follows strict accounting rules: according to book-and-claim registry standards16 and best practice, the scope 1 claim must be retired prior to the scope 3 retirement, to ensure accurate accounting of carbon reduction claims. It is important to note that there are several open questions related to the recognition of SAF as an eligible scope 3 emissions reduction strategy under the Greenhouse Gas (GHG) Protocol and Science Based Targets initiative (SBTi), with unclear accounting implications for stakeholders across the value chain. This includes guidelines for airports, some of which are already reporting aircraft-related well-to-tank emissions as scope 3, but further guidance is needed to confirm the best way to report emissions. Both the GHG Protocol and SBTi guidance are expected to be updated in 2025, providing more clarity and certainty to book-and-claim transactions in the future. Even without updated guidance, however, many organizations are disclosing the emission savings related to SAF’s environmental attributes (SAFc) separately as part of their annual reports. It is expected that, once formally recognized, book-and-claim systems may become more popular with corporates, as they will be able to leverage SAF to achieve their formally recognized net-zero ambitions. A SAF registry is often needed to unlock the potential of book-and-claim systems and ensure consistency and transparency in the process, thus avoiding double-claiming and double-counting. A registry is a database that records the issuance, transfer and retirement of SAF certificates, thereby logging transactions. There has been a rise in the number of registries in recent years. Examples include: –RSB Registry, created by the Roundtable on Sustainable Biomaterials Association (RSB) –SAFc Registry, created by the Sustainable Aviation Buyer’s Alliance (SABA) –ISCC Credit Transfer System, created by the International Sustainability and Carbon Certification (ISCC) initiative –The International Air Transport Association (IATA) is also working on a SAF registry. It is critical that SAF producers transfer these SAF credits to a registry to ensure they meet robust sustainability standards. At the point of blending with fossil jet fuel to meet fuel standards, a SAF producer needs to decouple the environmental attributes from the physical fuel. Afterwards, the environmental attributes are entered into a SAFc registry as scope 1 and scope 3 claims associated with a specific batch of SAF. These claims are transferred to the buyer after the registry validates the required documentation for the claims. Documentation for entering SAFc onto the registry requires in- depth proof of sustainability information, including independent verification of compliance with a fuel certification scheme (e.g. the ICAO-recognized RSB CORSIA certification), as well as independent certification of carbon intensity, the feedstock supply chain and facility management systems. The benefit of book-and-claim is that it allows for revenue diversification, by attracting players throughout the value chain, and spreads the SAF premium across a wider range of stakeholders. 30 Financing Sustainable Aviation Fuels

Financing Sustainable Aviation Fuels 2025