Sustainable aviation fuel (SAF) market to pass $41 billion by 2032
The sustainable aviation fuel (SAF) market size was valued at USD 1.3 billion in 2023 and is anticipated to reach USD 41.6 billion by 2032 at a compound annual growth rate (CAGR) of 46.9%. The focus on sustainable fuel sources for air transport is a critical response to the environmental challenges of aviation emissions. As the aviation industry grows, so does its carbon footprint, highlighting the urgent need for eco-friendly...
European Union petition for international levy on Jet A1 fuel
The European Union (EU) lobbying for an international tax on Jet A1 fuel in a move to finance climate action via levies on polluting industries. According to Wopke Hoekstra, EU’s climate commissioner, China, Zambia, Brazil and the Gulf nations are among those that have expressed interest in such a tax in talks leading up to the UN’s COP28 climate summit in Dubai. Unlike other fuels, Jet A1 (kerosene) is exempt from tax throughout the...
