GenZero, the decarbonization investment platform founded by Temasek, has partnered with the World Economic Forum ( WEF ) to launch Green Fuel Forward, a targeted initiative aimed at accelerating demand for sustainable aviation fuels ( SAF ) in the Asia-Pacific region.

The initiative, announced at the GenZero Climate Summit 2025 in Singapore, brings together airlines, logistics players and corporates across Asia-Pacific in a concerted effort to create a viable market for SAF, an essential, if still nascent, tool in aviation’s decarbonization toolkit.

Early participants in Green Fuel Forward include industry and finance leaders like Air New Zealand, Boeing, Singapore Airlines, Qantas Group, Neste, DBS Bank, DHL, Mizuho, Temasek, UOB and the International Energy Agency.

The initiative seeks to lay the groundwork for long-term investment and scaled production in the region by consolidating demand and guiding corporate buyers through the complexities of SAF procurement,

“Green Fuel Forward,” notes Laia Barbarà, the WEF’s head of climate strategy, “will build the capacity needed to shift Asia-Pacific from potential to action.”

The initiative aligns with the International Civil Aviation Organization’s ambition to reduce the carbon intensity of jet fuel by 5% by 2030. It also complements existing WEF-led platforms like Airports of Tomorrow and the First Movers Coalition, while honing in on the specific policy and market dynamics in the Asia-Pacific region.

Participants will engage in practical workshops and simulation exercises, including test purchases of SAF and SAF certificates, all conducted in compliance with competition law. These sessions will also address key operational and reporting considerations, such as environmental integrity and book-and-claim systems.

“This is how we transition SAF from niche to norm,” points out Frederick Teo, GenZero’s CEO, calling the programme a “catalytic platform” for scaling demand and commercializing SAF technologies.

Market still in infancy

With its fast-growing aviation market, favourable policies in countries like Singapore, Japan and Australia, and strong feedstock potential, Asia-Pacific is well-positioned to lead in SAF deployment. Singapore’s Sustainable Air Hub Blueprint is one example of emerging policy momentum.

“Strong supply chain collaboration is essential to meet climate targets,” states Fiona Messent, Quantas’ chief sustainability officer. “Green Fuel Forward helps grow demand and supports our ongoing SAF investments.”

Banks, including DBS, Mizuho and UOB, are backing the programme with sustainable finance advisory and instruments, helping bridge capital gaps that often slow the development of green fuel infrastructure.

“Accelerating SAF adoption,” adds Helge Muenkel, DBS’ chief sustainability officer, “demands coordination across the entire value chain, from feedstock sourcing to financing demand signals.”

Meanwhile, digital innovators like Chooose and Climate Impact X are helping to build transparency and liquidity into the SAF market through software tools and verification mechanisms – critical elements for driving corporate confidence.

For all the momentum behind SAF, its actual market share remains negligible, making up just 0.2% of global commercial aviation fuel in 2023. The substantial gap between ambition and availability underscores the scale of the challenge.

Despite strong environmental rationale and growing interest, SAF remains significantly more expensive than conventional jet fuel. Without substantial government incentives or policy mandates, many airlines may still hesitate to make the leap until SAF achieves cost parity with its fossil-based counterpart.