Readiness key takeaways Technology 2 –HEFA and other biofuels are the most advanced, with TRL of 8-10,103 and are already commercially available. –Battery-electric and hydrogen fuel cell technologies are in the early prototype stage, with a TRL of 4-5, and are projected to become commercially viable by 2030.104 Infrastructure 2 –100 MTPA of clean hydrogen, 700 MTPA of CCUS, and 400 MTPA of biofuel are required by 2050.105 –Efforts are needed to build capacity for SAF, as less than 1%106 of the 2050 SAF production capacity is currently available. Demand 2 –Less than 1%107 of current aviation energy consumption comes from low-emissions sources. –The green premium to produce SAF is estimated to be 2-5 times more expensive than conventional jet fuel.108 –Identifying more potential feedstocks and diversifying SAF production could be a solution to meet the demand. Capital 1 –Industry requires over $5 trillion109 in cumulative investments to achieve net zero by 2050 (i.e. $179 billion110 annual investment, compared to current CapEx of $68 billion111 annually) –Of the investment required by 2050, 52% is for fuel production and 36% is for upstream renewable electricity generation by the ecosystem.112 Policy 3 –Establishing clear blending mandates, reducing cost differentials, de-risking projects and increasing SAF usage in public-sector travel are crucial initiatives. –In 2024, Japan, Brazil, Malaysia and the UK all introduced mandates for SAF entering into force in the coming years. Sector priorities Company-led solutions Mid-term (by 2030) –Reduce fuel consumption through air traffic management (ATM) improvement and operational efficiencies. –Scale the use of SAF.Long-term (by 2050) –Invest in R&D for low-TRL technologies and efficiency measures to reduce energy demand. Ecosystem-enabled solutions Mid-term –Reduce the cost differential between SAF and fossil jet fuel (e.g. by direct or indirect subsidies).Long-term –Develop refuelling/recharging infrastructure for zero- emission aircraft at key airports. –Develop CCUS facilities to meet the 2050 demand. Net-Zero Industry Tracker: 2024 Edition 3

Net Zero Industry Tracker 2024 Aviation