Category: 3. Business

When it comes to decarbonising the aviation industry, there’s no single solution that can magically cut emissions. Instead, it’s a layered task: multiple levers need to be put to work together, each one reducing and addressing emissions in its own way. Airbus is putting this idea into practice, combining four levers in a single flight. 

Between 17-21 November 2025, Dubai Airshow will open its doors to the public. With the tagline ‘The Future is Here’, this 19th edition of the show has a focus on technological advancements, innovative products and technologies. Where better for Airbus to bring together four key complementary levers in a single flight – latest generation aircraft, sustainable aviation fuel (SAF), Book and Claim (B&C) and carbon dioxide removals (CDR) – to showcase how each of these levers can play a part in reducing the emissions gap.

Today, around 30% of the world’s in-service aircraft fleet are of the latest generation, which deliver a 20-30% fuel saving compared to their predecessors. Replacing older aircraft with more modern ones – like the Airbus A350-1000, which first entered into service in 2018, and requires on average 25% less fuel than previous generation aircraft – is a key way for the aviation industry to make progress towards decarbonisation. 

In fact, it is an Airbus A350-1000, flying from Toulouse to Dubai, which will provide an opportunity to showcase the various decarbonisation levers in a single flight. While the use of all these levers in routine operations is still rare and challenging for airlines to implement, this showcase aims to emphasise the point that no single technology in isolation can help the aviation industry reach its decarbonisation targets. 

Multiple levers, working in parallel

Industry bodies like ATAG recognise the complexity of decarbonising aviation in their Waypoint 2050 report (2nd edition, 2021). In their three scenarios which depart from a continuation of current trends, SAF remains the lever with the capacity to make the greatest difference, accounting for between 53-71% of emissions reduction contributions in 2050. This depends on the level of ambition and commitment with which the industry embraces decarbonisation and the particular levers that gain the most focus and support. 

Alongside SAF, market-based measures such as carbon dioxide removals will be needed to close the emissions gap by 2050. This combination of SAF and carbon removals or other emission mitigation options presents the industry with a practical solution to many of the challenges that put pressure on the wider adoption of SAF. 

Inspired by these scenarios, Airbus is deploying the following levers to address each tranche of emissions created during the flight:

Deconstructing our SAF, B&C and CDR showcase flight

Sustainable aviation fuel (SAF)

The A350 is travelling from Airbus’ operational headquarters in Toulouse, France, to Dubai, United Arab Emirates, to participate in the Dubai Airshow flying display. For this flight the A350 will benefit from a 35% blend of physical SAF. The remaining 65% will be conventional aviation fuel (CAF).

Toulouse is well-served to supply SAF, as it benefits from not only the infrastructure at Toulouse-Blagnac Airport but also Airbus’ own dedicated fuelling facilities, but this is not the case for all cities. So what options are there when SAF is not readily available or where an airline or operator may wish to have a greater percentage of SAF than is physically available on site?

Book and Claim (B&C)

An airport or airline may be enthusiastic about using SAF, and willing to pay the additional cost to acquire it – SAF costs  between 2-7x conventional aviation fuel, depending on the feedstock – but there may be logistical challenges that make it complex to have SAF delivered where they operate, for example, being located in a part of the world without easy access to SAF producers or suppliers.

For this reason, there exists an accounting mechanism called ‘Book and Claim’ that enables airlines and airports to be able to take advantage of SAF without needing to physically take delivery of it. We can use this to virtually replace the CAF on the flight. By using Book and Claim, Airbus purchases SAF emissions reduction certificates from an independent registry, the Roundtable on Sustainable Biomaterials (RSB), an NGO that defines sustainability standards for SAF. 

In simple terms, the Book and Claim mechanism allows a buyer to “book” a certain amount of SAF and “claim” the corresponding emission reduction, even if the fuel is used elsewhere. Book and Claim could be a key lever in the scaling of SAF, connecting supply and demand and improving SAF accessibility for potential customers, particularly those located far from supply points or production facilities. In practice, this means the physical SAF is delivered to another operator, which then consumes the amount of SAF as indicated by the certificate.

Carbon dioxide removals (CDR)

Even by effectively replacing all of the fuel with SAF (through a mixture of physical SAF and through SAF Book and Claim certificates), emissions remain. Airbus will use carbon dioxide removal (CDR) units to neutralise the residual emissions of this flight. CDR is a credible measure for addressing residual remaining emissions by physically removing carbon dioxide from the atmosphere and storing it. For this specific flight, Airbus has selected CDRs from reforestation projects in Mexico which are certified by the Climate Action Reserve (vintage 2022-2023).

What does this showcase reveal about aviation’s path to decarbonisation?

The whole industry needs to come together to tackle decarbonisation, from airlines to airports, and fuel producers to OEMs like Airbus, as well as regulatory bodies. We are playing our part: increasing the use of SAF in our own operations with fuel providers like TotalEnergies, participating in the SAFFA Fund alongside AirFrance-KLM Group and Qantas, amongst others, and investing directly in SAF producers like LanzaJet. 

When it comes to Book and Claim, Airbus has launched its own Demonstrator in collaboration with RSB. The demonstrator has the ambition to facilitate demand from some of its smaller-scale customers and connect it with supply, making it easier for these clients to access SAF. Airbus has also been working to raise the profile and credibility of Book and Claim as a mechanism. As yet, Book and Claim is not recognised by the regulated markets – neither by the EU Renewable Energy Directive nor by CORSIA – however Airbus believes this could be a powerful lever to make SAF more accessible and is advocating for the recognition of this lever. 

The aviation industry will not reach its long-term aspirational goal of net-zero carbon emissions overnight. To achieve this by 2050 will take hard work, investment, regulatory support, and the willingness of all industry participants to drive progress. The industry agrees that multiple levers are the way to go. This flight takes that idea, and puts it in the air. 

Beijing, China, 14 November 2025 – Air China Cargo Co., Ltd. (hereafter referred to as “Air China Cargo”) has signed a purchase agreement for six A350F becoming the first customer to order the all-new A350F in the Chinese mainland. 

“The introduction of the A350F to our existing mixed cargo fleet contributes to efficiency in operation and maintenance. The A350F will enhance Air China Cargo’s capability to withstand risks in its long-term stable operation”, said Wang Hongyan, Vice President of Air China Cargo.

“We are delighted to welcome Air China Cargo as the latest customer for the A350F. The A350F will bring new generation efficiency and performance as well as new levels of capacity and unprecedented loading flexibility. We look forward to ensuring a seamless integration into Air China Cargo’s operation”, said Benoît de Saint-Exupéry, Airbus EVP Sales of the Commercial Aircraft business.

Air China Cargo, headquartered in Beijing, is China’s only cargo airline that carries the national flag. Since June 2025, the airline has been operating all cargo aircraft in North China, East China, South China, and Southwest China. It has also opened 25 all-cargo routes to major regions and cities around the world, including Asia-Pacific, Europe, the Americas and the Middle East. The airline’s dedicated freighter and passenger belly network is further supplemented by more than 1,500 global ground trucking routes.

Engineered as the world’s most advanced freighter aircraft, the A350F is designed to meet the evolving needs of the global air cargo market (Express, general cargo, special cargo, etc.). It will carry up to 111 tonnes and cover a range of 8,700 km. Powered by Rolls-Royce Trent XWB-97 engines, it will offer up to 40% reduction in fuel consumption and CO₂ emissions compared to previous generation aircraft. 

Made of over 70% advanced materials, the A350F will be 46 tonnes lighter than competitors and will feature the industry’s largest main deck cargo door. It is the only freighter fully meeting ICAO’s 2027 CO₂ standards and by the time it enters service it will be 50% SAF capable, with a target for 100% by 2030. Currently, the assembly of test aircraft in Toulouse is underway. 

At the end of October 2025, the latest generation widebody A350 Family had won 1,445 orders from 63 customers worldwide, including 74 for the all-new A350F from 12 customers.

The planet has crossed a dangerous threshold. The World Meteorological Organization says that 2024 was likely the first calendar year to have exceeded 1.5°C above pre-industrial levels.

The global mean near-surface temperature reached 1.55°C above the 1850–1900 average – a signal the world is getting perilously close to breaching the Paris Agreement’s goal of keeping global heating well below 2°C and pursuing efforts to limit it to 1.5°C.

Carbon emissions from fossil fuels also hit a new high in 2024 – a record expected to be surpassed this year.

Turning the tide requires faster progress in breaking the link between economic growth and carbon emissions. Fossil fuels have powered prosperity for two centuries – lighting cities, fuelling transport and driving trade. That link is weakening, but not fast enough.

The GDP-emissions link is weakening – but too slowly

Data shows that some major economies have made encouraging progress.

Between 1990 and 2023, for example, the European Union’s net greenhouse gas emissions fell by about one third while GDP grew by around two thirds, according to the European Environment Agency. Over the same period, the United States’ emissions fell below 1990 levels even as its economy expanded, according to data from the US Environment Protection Agency.

But globally, the link remains too tight. Since 1990, global GDP has risen 191% while CO2 emissions have increased 66%.

Emissions and trade remain highly concentrated. Just 35 economies generate 91 % of emissions and account for nearly three quarters of global exports. Meanwhile, the poorest nations – responsible for under 4% – face disproportionate consequences.

Over the past decade, least developed countries suffered 2.5 times more disaster-related deaths than the global average and 3.5 times more economic loss as a share of GDP.

The data underlines the need not only to cut emissions but also to ensure a just transition – one that enables vulnerable countries to seize new opportunities rather than shoulder the costs.

Trade can be a powerful tool for climate action

The latest Global Trade Update from UN Trade and Development (UNCTAD), released ahead of the 30th UN Climate Change Conference (COP30), shows how sustainable trade can help turn climate ambition into measurable progress when climate and trade policies align.

By lowering the cost of clean technologies and opening markets for low-carbon goods, trade can be a powerful tool for climate action. The average global cost of electricity from new solar projects has fallen 41% since 2010, while onshore wind power is now 53% cheaper than fossil-fuel generation.

But high trade costs and other barriers still slow momentum. Average tariffs on solar and wind components range from 1.9% in developed economies to 7.1% in Africa, rising to 7.6% when non-tariff measures are included. 

National climate plans still fall short

The UNCTAD report highlights that trade policy, such as reducing tariffs on low-carbon goods, can help countries meet climate goals while supporting economic growth.

Under the Paris Agreement, countries must submit updated national climate plans, or Nationally Determined Contributions (NDCs), every five years.

Between 1 January 2024 and 30 September 2025, 64 Parties submitted updated NDCs ahead of COP30 in Belém, Brazil – together covering only about 30% of global emissions. Even with expected updates from China, the EU and India, the new round of plans will fall short of what is needed.

According to a new UN Environment report, the world is heading for global heating of 2.3-2.5°C even if the NDCs are implemented.

Since the Paris Agreement was adopted ten years ago, projected global heating has fallen from 3–3.5°C. The technologies needed for major emission cuts already exist, and booming wind and solar sectors continue to drive costs down.

This means the world can accelerate climate action if it chooses to.

So far, however, only 11 of the world’s 35 largest emitters have submitted updated, more ambitious NDCs.

Align trade and markets with the Paris Agreement

UNCTAD’s report highlights the need to align trade and markets with the Paris Agreement to accelerate the low-carbon transition and help finance climate action.

It calls for regional and South–South cooperation to reduce tariffs, and global cooperation to harmonize sustainability standards and facilitate affordable access to climate-relevant technologies.

Aligning trade, industrial and climate policies can unlock new value chains in renewable energy, creating jobs and revenues to support climate action. Integrating trade policy instruments into climate strategies is essential for a just and inclusive transition.

We have just launched electric cargo bikes in Antwerp, operating from our existing delivery station in Blue Gate. The launch adds to our existing zero-tailpipe emission e-cargo bike delivery network in Brussels’ Pentagon area. The new fleet of e-cargo bikes will directly replace part of the traditional van trips in Antwerp’s city centre and reduce traffic congestion. The bikes will be complemented by electric vehicle deliveries to handle bigger or heavier parcels when necessary.

“As we continue to decarbonise our operations, our close collaboration with local partners in Antwerp strengthens our cargo bike delivery capabilities in the city center,” said Eva Faict, Country Manager for Amazon in Belgium & The Netherlands. “This aligns with our goal for more sustainable deliveries in Belgium, resulting in fewer emissions, less noise, and reduced traffic congestion, while providing fast and convenient deliveries for our customers.”

Expanding more sustainable transportation in Belgium

Antwerp joins a growing network of European cities, including Berlin, Lyon, and Manchester, where we have successfully introduced e-cargo bike deliveries. As the second Belgian city where Amazon packages are delivered with e-cargo bikes, Antwerp’s new service will leverage a fleet of electric cargo bikes for agile, zero-tailpipe emission deliveries in dense urban areas, with electric delivery vans for high-volume routes.

This integrated approach ensures efficient and environmentally responsible service for our customers throughout the city.

Alleviating traffic congestion and developing safe bicycle logistics

Departing directly from our existing delivery station in Antwerp—ranked as the 4th most bike-friendly city globally according to the Copenhagenize Index of Bicycle-Friendly cities—packages will be loaded onto e-cargo bikes for the final leg of their journey into the city center. This mode of transportation not only ensures more efficient deliveries in dense urban environments but also helps reduce traffic congestion and parking challenges. By leveraging Antwerp’s unique network of cycling paths, we’re working to alleviate urban congestion through innovative delivery methods while remaining equally committed to ensuring the safety of our delivery associates.

Safety stands at the forefront of our delivery operations. Working closely with our delivery partners across our operations network, we ensure all delivery associates receive comprehensive training and proper safety equipment, including helmets, while maintaining strict safety standards for all e-cargo bikes. We require our partners to follow rigorous safety protocols, demonstrating our dual commitment to more sustainable delivery solutions while protecting those who make these deliveries possible.

Decarbonising Amazon’s operations

The introduction of e-cargo bikes deliveries in Antwerp is part of our broader strategy to decarbonise our operations.

We continues to innovate in last-mile delivery, with more than 60 micromobility hubs now operational in over 45 European cities, enabling millions of zero-exhaust emission deliveries. The introduction of e-cargo bikes in Antwerp strengthens this expanding network, demonstrating our dedication to making deliveries more sustainable and efficient for communities everywhere.

While transforming urban deliveries is an important part of our sustainability strategy in Belgium, our dedication to environmental protection extends beyond city centers to the preservation of natural habitats. As part of our broader commitment to The Climate Pledge, in March 2024, we have announced our investment of €1.1 million in the newly created National Park Brabantse Wouden through the Right Now Climate Fund, with the goal of helping to preserve its UNESCO-listed ancient woodlands and allowing more people to enjoy the benefits of being in nature. The new National Park is intended to strengthen the resilience of Belgian woods against climate change, and to benefit the local community.

Since then, together with the National Park, we have collaborated on initiatives supporting the local community and environment, including a Smart Solutions innovation competition, citizen science monitoring and more sustainable farming practices.

Tata Steel Nederland (TSN) will acquire the Vattenfall power plants in the IJmond region. A definitive agreement has been signed today by both parties. As part of the transaction, all employees of the Vattenfall power plants in the IJmond region will become employees of TSN. Ownership of the plants will transfer to TSN on January 1, 2026. Financial details are not disclosed. 

Hans van den Berg, CEO of Tata Steel Nederland: “Power plants of Vattenfall and its predecessors have been a logical combination with our steel production process for almost a century. The plants are unique because, unlike any other power plant in the Netherlands, they are fuelled by our residual gases, in this case from our steel production process. With the current contract expiring at the end of 2025, this is the moment to change ownership: By owning the power plants, Tata Steel Nederland will be able to manage the complex, step-wise transition from its existing steelmaking process to a low carbon, green steel operation. Therefore, this transfer of ownership is a significant and tangible step in Tata Steel Nederland’s transition to green steel.” 
 
Alexander van Ofwegen, Senior Vice President and Head of Business Area’s Customers & Solutions and Heat of Vattenfall: “Vattenfall supports Tata Steel’s ambition to transition to more sustainable steel production. In this transition, these gas power plants in Velsen are still needed. This agreement is therefore a win-win situation. For the employees of the plants as the work will continue under similar employment conditions and a win for Tata Steel in gaining more control over the entire chain in the transition to low carbon steel making.”

Vattenfall power plants in IJmond region 

The Vattenfall power plants in the IJmond region consist of three units. The power plants 24 and 25 in Velsen-Noord generate electricity predominantly from the residual gases from the steel production process. This electricity is used by TSN in its operational processes. The third unit is IJmond 01, a combined heat and power plant on the Tata Steel site in IJmuiden. This unit is fuelled by the residual gases from the steel production process and it produces electricity and steam. This electricity and steam are also used in the steel plant’s operational processes. The three units employ approximately 116 employees.

Advice of works councils, approval regulatory authorities

The works councils of both Vattenfall and TSN have issued their advice to the transaction. Regulatory authorities, among which the Netherlands Authority for Consumers and Markets (ACM), have approved the change of ownership of the power plants. Ownership of the plants will transfer to TSN on January 1, 2026. 

About 30 schools in Australia have been fully or partially closed after a warning over asbestos risks in children’s sand.

A recall notice for the coloured products, which were found to contain traces of tremolite asbestos, was issued by the Australian Competition & Consumer Commission (ACCC) on Wednesday.

The regulator said there was a “low” risk that the asbestos could become airborne or fine enough for inhalation, but it “may still pose a risk”.

On Friday, at least 15 schools and seven preschools in the Australian Capital Territory (ACT) – where Canberra is situated – were fully closed, with six others partially closed as a precaution. There are also reports of a school closure in Queensland.

The ACCC said tremolite asbestos, a naturally occurring asbestos, had been detected in some samples after laboratory testing.

But it added that respiratory asbestos had not been detected in any of the samples and the release of respiratory asbestos fibres from the sand was “unlikely” unless it was “processed by mechanical means” such as crushing or pulverising.

Asbestos, a prohibited substance in Australia, becomes dangerous when fibres are breathed in. They can damage the lungs and cause diseases including cancer.

The sand products, which are imported from China and sold throughout Australia between 2020 and 2025, are sold by several stationery supply chains, including one of the country’s most popular retailers, Officeworks.

The products set out in the recall notice are labelled as Kadink Sand (1.3kg), Educational Colours – Rainbow Sand (1.3kg) and Creatistics – Coloured Sand (1kg).

New Zealand’s Ministry of Business, Innovation and Employment also issued a voluntary recall for EC Rainbow Sand (1.3kg) and Creatistics – Coloured Sand (1kg products) as a “precautionary action” following the testing in Australia.

In addition, Officeworks has recalled Kadink six-piece decorative sand, KD Plain Sand (1.3kg) and KD Magic Sand (2kg) in natural and purple.

Yvette Berry, the ACT’s education minister, said on social media that the products were “used at some of our public schools for sensory play, and arts and crafts”.

“I understand that this news might be upsetting for families,” she added. “Closing schools will allow testing and remediation to occur as soon as possible”.

A spokesperson for the state of Victoria confirmed no state schools will close there over the warning, saying they’d been advised “the health risk from the use of these products is low”.

“As such, there is no indication of a need to close schools or early childhood services at this time,” they added.

The spokesperson said officials were working “swiftly” to identify schools and early childhood services that may be using the recalled products, and will then support them to follow the remediation advice from relevant authorities.

In New South Wales, where there have also been no school closures, a safety alert was sent to all public schools to “immediately and safely remove these sand products if they have them”.

“The health, safety, and wellbeing of students, staff, and the school community is the department’s highest priority,” they added.

Linklaters has advised the managers on the successful issuance by the Lao People’s Democratic Republic (Lao PDR) of US$300m 11.25% senior unsecured notes due 2030. The notes were issued under Rule 144A and Regulation S and are listed on the Singapore Exchange Securities Trading Limited (SGX-ST).

This transaction marks Lao PDR’s return to the international capital markets and engagement with global investors since its last issuance in 2019. The proceeds from the offering will be used to refinance existing government indebtedness and for general governmental purposes.

The Linklaters team was led by partner and Head of Southeast Asia Capital Markets Amit Singh, with support from counsel Xunming Lim and managing associate Alwyn Loy.

Linklaters’ Head of Southeast Asia Capital Markets Amit Singh commented:

“We are delighted to have supported this significant transaction for Lao PDR. Furthermore, this deal underlines Linklaters’ strengths in advising on complex cross-border sovereign issuances across Southeast Asia.”

With one of the largest teams focussed on Southeast Asia, Linklaters has worked on numerous high-profile and landmark transactions and has an established reputation in the global and Asian capital markets.