Endnotes 1. International Air Transport Association (IATA). (2024, 10 December). Disappointingly Slow Growth in SAF Production [Press release]. https://www.iata.org/en/pressroom/2024-releases/2024-12-10-03/. 2. International Civil Aviation Organization (ICAO): –(2022). States adopt net-zero 2050 global aspirational goal for international flight operations. https://www.icao.int/ Newsroom/Pages/States-adopts-netzero-2050-aspirational-goal-for-international-flight-operations.aspx. –(2023). ICAO Conference delivers strong global framework to implement a clean energy transition for international aviation. https://www.icao.int/Newsroom/Pages/ICAO-Conference-delivers-strong-global-framework-to-implement- a-clean-energy-transition-for-international-aviation.aspx. –(2023). ICAO Global Framework for SAF, LCAF and other Aviation Cleaner Energies (Adopted by CAAF/3 on 24 November 2023). https://www.icao.int/Meetings/CAAF3/Documents/ICAO%20Global%20Framework%20on%20 Aviation%20Cleaner%20Energies_24Nov2023.pdf. –(2022). Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) — Frequently Asked Questions (FAQs) — (updated as of December 2022). https://www.icao.int/environmental-protection/CORSIA/Documents/ CORSIA_FAQs_Dec2022.pdf. 3. Reuters. (2024). COP29 climate talks: What new taxes could help raise money to fight climate change? https://www. reuters.com/sustainability/sustainable-finance-reporting/what-new-taxes-could-help-raise-money-fight-climate- change-2024-11-19/. 4. International Civil Aviation Organization (ICAO). (2025). SAF Offtake Agreements. https://www.icao.int/environmental- protection/GFAAF/Pages/Offtake-Agreements.aspx. 5. International Air Transport Association (IATA). (2024). Disappointingly Slow Growth in SAF Production. https://www.iata. org/en/pressroom/2024-releases/2024-12-10-03/. 6. Analysis from S&P Platts for upcoming Airports of Tomorrow publication. 7. International Air Transport Association (IATA). (2024). Airline Profitability Outlook Improves for 2024. https://www.iata.org/ en/pressroom/2024-releases/2024-06-03-01. 8. Deloitte. (2024) 2025 Oil and Gas Industry Outlook. https://www2.deloitte.com/us/en/insights/industry/oil-and-gas/oil- and-gas-industry-outlook.html. 9. Leake, J. (2024). Flagship green fuel factory scrapped in net zero blow. The Telegraph. https://www.telegraph.co.uk/ business/2024/08/15/flagship-green-fuel-factory-scrapped-in-net-zero-blow/. 10. Infinium. (2024). Brookfield to Invest Up to $1.1 Billion in Infinium to Scale Ultra-Low Carbon eFuels. https://www.infiniumco. com/news/infinium-brookfield-press-release. 11. Greenhouse Gas Protocol. (2025). Land Sector and Removals Guidance. https://ghgprotocol.org/land-sector-and- removals-guidance. 12. Cathay Pacific. (2024). HSBC, Cathay Pacific and EcoCeres partner for major SAF initiative in Hong Kong. https://news. cathaypacific.com/hsbc-cathay-pacific-and-ecoceres-partner-for-major-sustainable-aviation-fuel-initiative-in-hong-kong. 13. Hydrogen Council and McKinsey & Company. (2024). Hydrogen Insights 2024. https://hydrogencouncil.com/wp-content/ uploads/2024/09/Hydrogen-Insights-2024.pdf. 14. UK government. (2024). Clean Power 2030 Action Plan: A new era of clean electricity. https://assets.publishing.service. gov.uk/media/677bc80399c93b7286a396d6/clean-power-2030-action-plan-main-report.pdf. 15. International Energy Agency (IEA). (2024). Global Hydrogen Review 2024. https://www.iea.org/reports/global-hydrogen- review-2024/executive-summary. 16. Policy@Manchester. (2024). On Hydrogen: Foreword by Baroness Brown of Cambridge. https://policyatmanchester. shorthandstories.com/on-hydrogen/index.html#section-Foreword-DnHiJQzQ4R. 17. Bloomberg UK. (2024). America’s Promised Hydrogen-Fueled Industry Future Is Stalled Over Tax credits. https://www.bloomberg.com/news/articles/2024-08-15/us-hydrogen-industry-stalls-over-ira-tax-credit-uncertainty. 18. Utility Dive. (2025). Final 45V hydrogen tax credit guidance draws mixed response. https://www.utilitydive.com/news/ final-45v-hydrogen-tax-credit-guidance-mixed-response/736499/. 19. Martin, P . (2024). Repsol puts Spanish green hydrogen investments back on the table after government drops energy windfall tax. Hydrogen Insight. https://www.hydrogeninsight.com/policy/repsol-puts-spanish-green-hydrogen- investments-back-on-the-table-after-government-drops-energy-windfall-tax/2-1-1733380. 20. Bloomberg UK. (2024). Green Hydrogen Prices Will Remain Stubbornly High for Decades. https://www.bloomberg.com/ news/articles/2024-12-23/green-hydrogen-prices-will-remain-stubbornly-high-for-decades. 21. EasyJet. (2024). Ground-breaking airport hydrogen trial next critical step on journey to achieving zero emission aviation. https://mediacentre.easyjet.com/story/17333/ground-breaking-airport-hydrogen-trial-next-critical-step-on-journey-to- achieving-zero-emission-aviation. Global Aviation Sustainability Outlook 2025 39