Endnotes 1. Air Transport Action Group (ATAG). (2026). Waypoint 2050: Balancing growth in connectivity with a comprehensive global air transport response to the climate emergency. https://aviationbenefits.org/media/4eajfrrm/aw_waypoint2050- digital-29012026.pdf 2. Air Transport Action Group (ATAG). (2026). Waypoint 2050: Balancing growth in connectivity with a comprehensive global air transport response to the climate emergency. https://aviationbenefits.org/media/4eajfrrm/aw_waypoint2050- digital-29012026.pdf 3. HEFA, which stands for hydroprocessed esters and fatty acids, is the most mature, commercially dominant pathway for producing sustainable aviation fuel (SAF), accounting for 80-90% of current global SAF production. Source: Net Zero Insights. (2025). The Pathways to Scaling SAF. https://netzeroinsights.com/resources/pathways-scaling-saf/ 4. International Monetary Fund (IMF). (2026). World Economic Outlook Update – Global Economy: Steady amid Divergent Forces, January 2026. https://www.imf.org/en/publications/weo/issues/2026/01/19/world-economic-outlook-update- january-2026 5. International Air Transport Association (IATA). (2025, 9 December). SAF Production Growth Rate is Slowing Down, Essential to Correct Course Ahead of e-SAF Mandates [Press release]. https://www.iata.org/en/pressroom/2025- releases/2025-12-09-04/ 6. Ethanol Producer Magazine. (2025). LanzaJet Announces Freedom Pines Fuels Facility Has Fully Operated, Produced Fuels. https://ethanolproducer.com/articles/lanzajet-announces-freedom-pines-fuels-facility-has-fully-operated-produced- fuels 7. Argus Media. (2025). Infinium takes FID on 100 MW Texas e-fuels plant. https://www.argusmedia.com/en/news-and- insights/latest-market-news/2690011-infinium-takes-fid-on-100mw-texas-e-fuels-plant 8. Mitsubishi Corporation. (2025, 21 February). Mitsubishi and ENEOS to conduct Front End Engineering Design for Sustainable Aviation Fuel (SAF) Production at the Wakayama Refinery [Press release]. https://www.mitsubishicorp.com/ jp/en/news/release/2025/20250221002.html 9. Krueger, E. (2025). Phillips 66: Rodeo Facility Operates At Reduced Capacity In Q2. Biodiesel Magazine. https://biodieselmagazine.com/articles/phillips-66-rodeo-facility-operates-at-reduced-capacity-in-q2 10. Krueger, E. (2026). EIA Predicts Renewable Diesel, SAF Production Will Increase In 2027. Biodiesel Magazine. https://biodieselmagazine.com/articles/eia-predicts-renewable-diesel-saf-production-will-increase-in-2027 11. Krueger, E. (2025). EIA Reduces 2025 Production Forecasts For SAF And Renewable Diesel In June STEO. Biomass Magazine. https://biomassmagazine.com/articles/eia-reduces-2025-production-forecasts-for-saf-and-renewable-diesel- in-june-steo 12. Petronas. (2025, 12 September). Petronas Delivers Malaysia’s First Locally Blended SAF, Marking Breakthrough in Aviation Decarbonisation [Press release]. https://www.petronas.com/media/media-releases/petronas-delivers-malaysias- first-locally-blended-saf-marking-breakthrough 13. The Edge Malaysia. (2025). Malaysia on track to produce one mil tonnes of SAF by 2028 – minister. https://theedgemalaysia.com/node/785968 14. European Commission. (2025). Commission protects EU biodiesel industry from dumped Chinese imports. https://policy. trade.ec.europa.eu/news/commission-protects-eu-biodiesel-industry-dumped-chinese-imports-2025-02-11_en 15. Pandey, S. (2025). China’s biofuels industry swivels to SAF as EU-US trade row drags downstream sales to four-year low. S&P Global. https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/082925-chinas-biofuels- industry-swivels-to-saf-as-eu-us-trade-row-drags-downstream-sales-to-four-year-low 16. International Civil Aviation Organization (IATA). (2025). Assembly – 42nd Session: Executive Committee, Agenda Item 16: Environmental Protection-International Aviation and Climate Change Progress Of Sustainable Aviation Fuels (SAF) Pilot In China. https://www.icao.int/sites/default/files/Meetings/a42/Documents/WP/wp_573_en.pdf 17. Yap, T.S.I. & Aizhu, C. (October 2025). China allows more biofuel firms to export green aviation fuel, sources say. Reuters. https://www.reuters.com/sustainability/climate-energy/china-allows-more-biofuel-firms-export-green-aviation-fuel- sources-say-2025-10-17/ 18. Pandey, S. (2025). China designates Puyang as SAF export pilot zone, adds Henan as producer. S&P Global. https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/123025-china-designates-puyang-as-saf- export-pilot-zone-adds-henan-as-producer 19. Moeve. (2025). Moeve supplies more than 18,000 cubic meters of SAF in 2024. https://www.moeveglobal.com/en/press/ moeve-delivers-18000-cubic-meters-saf-fuel 20. Pandey, S. & Kondalamahanty, A. (2025). Eni advances biorefining with new Italian projects as margins surge. S&P Global. https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/102425-eni-advances-biorefining- with-new-italian-projects-as-margins-surge Global Aviation Sustainability Outlook 2026 62