Singapore to launch tradeable sustainable aviation fuel credits

The Civil Aviation Authority of Singapore, Singapore Airlines and Temasek, a Singaporean state-owned holding company, have announced that they will launch the sale of Sustainable Aviation Fuel (SAF) credits. These credits, of which there are 1,000 available for sale, are aimed at stimulating the deployment of sustainable aviation fuels. According to the announcement: "The launch of the SAF credits provides customers, including corporate and individual travellers, and freight forwarders, an avenue to do their part for the environment, and reduce their carbon footprint. By purchasing these credits, they can also help to stimulate demand for SAF, support the development of the nascent SAF industry, and advance the adoption of SAF for aviation sustainability." The three organisations claim that each credit could help reduce emissions by 2.5 tonnes of CO2. They suggested that "freight forwarders can in turn also sell the credits to their downstream clients to reduce carbon emissions from their business operations".