APD: Airline Passenger Duty. A key source of tax revenues raised by governments from the aviation sector.
ASTM: American Society for Testing and Materials. An organization setting standards for a wide variety of industrial products, including jet fuel (standard ASTM-1655).
BU: Business Unit. A discrete area of operation within a company, usually defined as having its own P&L.
CI: Carbon Intensity. A metric of a product’s impact on the environment, measured in terms of total emissions produced in units such as CO2eq/MJ.
CO2: Carbon dioxide - a greenhouse gas.
CO2eq: Carbon Dioxide Equivalent. A unit that converts non-CO2 greenhouse gases into the same emissions volume for simplicity of accounting.
CA-LCFS: California Low Carbon Fuel Standard. Legislation to reduce GHG emissions in the transportation sector in California.
CFPC: Clean Fuel Production Credit. An incentive scheme for SAF using a statutory formula that rewards SAF with lifecycle emissions below 50kg of CO2eq with a credit of USD 1.75 per gallon until 2027.
CORSIA: Carbon Offsetting and Reduction Scheme for International Aviation. An initiative that harmonizes a patchwork of country-level carbon accounting schemes aimed at minimizing market distortion and arbitrage between different frameworks.
DAC: Direct Air Capture. An emerging technology for removing CO2 directly from the atmosphere.
DoE: The USA’s Department of Energy.
dwt: Dry Weight Tonnage. A measure of cargo ship capacity.
ESG: Environmental and Social Goals. A general term describing an organization’s policies on green and societal issues.
ETS: Emissions Trading System. Describes the various carbon-trading schemes worldwide, such as the EU ETS.
FT: Fischer-Tropsch. The FT process is a chemical process converting carbon monoxide and hydrogen (known as syngas) into liquid hydrocarbons which can further be converted into SAF such as FT-SPK.
GHG: Greenhouse Gases. A collective term for all environmentally damaging emissions, including carbon dioxide, methane, nitrous oxide, and fluorinated compounds.
GREET: Greenhouse Gases, Regulated Emissions, and Energy Use in Technologies. A carbon lifecycle analysis model from Argonne National Laboratory used for the RFS2 scheme.
HEFA: Hydroprocessed Esters and Fatty Acids. One of the currently approved SAF production pathways detailed in ASTM D7566 (Annex A2).
IATA: International Air Transport Association. A global industry body for the world’s airlines, responsible for setting many policies and practices.
ICCT: International Council on Clean Transportation. A lobbying and research organization supporting the goal of global Net Zero carbon emissions by 2050.
IRA: Inflation Reduction Act. A 2022 law signed by the USA’s President Biden providing about USD 400bn of incentives to help decarbonize the American industry, including transportation and to create domestic jobs.
ITF: International Transport Forum. An intergovernmental organization bringing together politicians from 64 countries.
LCA: Life Cycle Assessment is defined as the systematic analysis of the potential environmental impacts of products or services during their entire lifecycle.
LCAF: Low Carbon Aviation Fuels. Petroleum-based aviation fuels but with lower lifecycle GHG emissions than conventional kerosene-based JET A/A-1 (minimum 10% GHG saving) and approved by CORSIA as eligible fuels.
LCFS: Low Carbon Fuel Standard. Policies designed to set a limit for lifecycle carbon emissions of fuel, usually decreasing over time, with incentive schemes and trading frameworks to account for totals. States such as California and Oregon have implemented such low carbon fuel frameworks.
NGO: Non-Governmental Organization. Descriptor for a range of groups nominally separate from government but deeply involved in the policymaking process and wishing to influence it.
PESTLE: Political, Economic, Social, Technological, Legal, Environmental. A common business analysis model for looking at industry sectors with a "big picture" perspective.
P&L: Profit and Loss account, a key financial statement of companies worldwide.
ppm: Parts Per Million. Used to quantify levels of atmospheric carbon dioxide.
PtX: The Power-to-X (PtX) concept is based on the conversion of renewable energy and water using electrolysis to produce fuels or chemicals such as hydrogen, methanol, ammonia or SAF.
PtL: The Power-to-Liquid (PtL) concept is based on the conversion of renewable energy into liquid fuels and chemicals such as methanol or Fischer-Tropsch products such as FT-SPK (SAF).
RED II: Renewable Energy Directive II. A set of EU criteria for sustainability and GHG emissions criteria for bioliquids used in the transport sector.
RES: Renewable Energy Sources, such as wind and solar.
RFNBO: Renewable Fuels of Non-Biological Origin. Renewable liquid and gaseous transport fuels of non-biological origin, meaning liquid or gaseous fuels which are used in the transport sector other than biofuels or biogas, the energy content of which is derived from renewable sources other than biomass. Examples of RFNBO are green hydrogen, green methanol, or eJet fuel.
RPK: Revenue Passenger Kilometers. A standard measure of air transport volumes, representing one kilometer traveled by one passenger in the air.
RTK: Revenue Tonne Kilometer. An equivalent of RPK but for freight tonnage, used by cargo airlines and operators.
SAF: Sustainable Aviation Fuel. A class of jet fuels that offer drop-in compatibility with JET A/A-1 and other fossil-based fuels, but with far lower GHG emissions. The currently approved SAF pathways are detailed in ASTM D7566.
SPK: Synthetic Paraffinic Kerosene. SAF according to D7566.
TWh: Terawatt-hours. A measure of energy consumption (trillions of watts per hour) providing a useful alternative to liters / barrels / gallons since some emerging technologies (such as electric) are not liquid.
WEF: World Economic Forum. A collaboration between industry and government exploring policy solutions across a range of issues.