Companies used for chart are those in the MSCI ACWI Index as of December 2023 not for the airline industry as a whole. Source: MSCI ESG Research, Company Disclosure. Data as of December 2023. Estimates for the Scope 1 emissions with and without SAF use is found by increasing 2019 Scope 1 emissions by 3% per annum as predicted by ICAO and assuming SAF will reduce emissions from fuel use by 80%. The “2019 Scope 1 emissions” line is meant to be a proxy for the CORSIA emissions benchmark. The actual CORSIA emissions benchmark (85% of 2019 emissions) will be different from what is shown above.