The number of scope 3 buyers stepping into corporate offtakes is increasing, both where the policy direction is unclear and where policy is becoming supportive of SAF or mandates are kicking in, even if they may not yet recognize book- and-claim mechanisms as a way to meet targets. Nevertheless, there is a risk in more established markets that some buyers may drop targets or reduce their involvement with SAF purchases in 2025, in light of the recent push-back against climate policies and commitments seen in other sectors (e.g. exit of members from the Net-Zero Banking Alliance). This may be counterbalanced by the potentially positive changes to carbon accounting guidance that many Airports of Tomorrow stakeholders expect from the Greenhouse Gas (GHG) Protocol’s upcoming Land Sector and Removals Guidance in the first quarter of 2025, although a few stakeholders interviewed for this report expect this be delayed.11 Uncertainty around the issue has left many corporate players in a wait-and-see position, holding off SAF investments. 2025 represents a convergence of technical, economic and regulatory possibilities. SAF represents a source of competitive advantage for countries and companies alike, with corporate travel playing a key role in helping encourage investment. We aggregate corporate demand for SAF from our clients and combine it with the purchasing power of airlines via Avelia in partnership with Shell Aviation. Both corporates and airlines invest in SAF and share the emissions reductions associated, spreading the green premium. We invite all companies to join us and share the costs and benefits of SAF across the travel and aviation sectors. Paul Abbott, Chief Executive Officer, American Express Global Business Travel Port infrastructure plays a crucial role in the aviation sector's energy transition. It is the hub for SAF. The quality control of the blending components, the right blending and the certification is essential. You cannot just blend SAF anywhere – the right, dedicated infrastructure is required and you need to be certified as a terminal operator. Vopak's global network with 32 ISCC-certified terminals is well positioned to accelerate the energy transition and support the aviation sector in their journey. Dick Richelle, Chief Executive Officer, Royal VopakAsia Pacific is among the key markets where SAF offtakes are expected to rise in 2025, with an increasing number of Southeast Asia carriers and corporates looking at SAF procurement, as demonstrated by the collaboration between HSBC, Cathay Pacific and EcoCeres launched in Hong Kong SAR at the end of 2024.12 One market to follow closely will be mainland China: during 2024, local carriers began using SAF as part of a limited government trial; this may gradually encourage more airlines to commit to sustainable fuels in future. As more SAF gets blended, more airports, fuel suppliers and fuel producers are examining the kinds of infrastructure investments they need to plan for the years ahead, as well as how to comply with mandates when there are specific traceability or chain of custody requirements. In Europe, the RefuelEU initiative sets minimum blending requirements, such as for airports handling at least 800,000 passengers annually or over 100,000 tonnes of freight. There are additional sub-targets specifically aimed at increasing the use of power- to-liquid (PtL) fuels. European fuel suppliers and airports, where fuel is managed directly rather than via consortia, are expected to be increasingly grappling with logistics assessments to understand the most efficient ways of delivering, storing and supplying fuels at the airport and to the wing. Availability and cost of clean hydrogen and electricity Clean hydrogen Clean hydrogen is an important enabler of aviation decarbonization, given its use as a process input or feedstock during SAF production, as well as its potential to power hydrogen-based aircraft and airport infrastructure.Last year saw notable clean hydrogen developments, although the extent to which these advances may be leveraged by the aviation sector remains unclear. The availability of clean hydrogen is increasing globally, with over 1,500 large-scale projects announced and significant investments being made, particularly in Europe, North America and China.13 During the first half of 2024, the pipeline had a net growth of 154 projects across different regions, with North America leading clean hydrogen capacity expansion, while Europe and Latin America focused specifically on renewable hydrogen. The United Kingdom, Germany Global Aviation Sustainability Outlook 2025 15