1、Financing Sustainable Aviation Fuels:Case Studies and Implications for InvestmentW H I T E P A P E RF E B R U A R Y 2 0 2 5In collaboration withKearneyImages:Getty ImagesDisclaimer This document is published by the World Economic Forum as a contribution to a project,insight area or interaction.The f

2、indings,interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum,nor the entirety of its Members,Partners orotherstakeholders.2025

3、 World Economic Forum.All rights reserved.No part ofthis publication may be reproduced or transmitted in any form or by any means,including photocopying and recording,or by any information storage and retrieval system.ContentsForeword 3Executive summary 41 Capital requirements tomeet 2030 demand 61.

4、1 Capacity requirements to meet 2030 demand forSAF 61.2 Cost requirements by pathway 101.3 Investment needs to meet 2030 demand 132 The project lifecycle and funding needs of aSAF refinery 142.1 Overview of the SAF project lifecycle 142.2 Fundraising challenges across the projectlifecycle 163 Levers

5、 for attracting more funding into a SAF production facility 19Lever 1 Apply for research/innovation grants to develop 20 first-of-a-kind facilitiesLever 2 Leverage local expertise of multilateral development 21 banks to navigate developing marketsLever 3 Secure guarantees or insurance instruments 23

6、 to enhance credit profileLever 4 Attract strategic industry investors to build 25 anecosystem for future scaleLever 5 Secure long-term offtake agreements to pass FID 26Lever 6 Engage in book-and-claim to facilitate investments 29Lever 7 Attract private equity capital to achieve rapidexpansion 32Lev