Airbus has signed a deal with Masdar to grow the sustainable aviation fuel (SAF) market – with the aviation company stating that using the cleaner fuel can reduce greenhouse gas emissions by 95%.

The two companies will collaborate on SAF, green hydrogen and carbon capture technologies to reduce their carbon footprint.

The SAF market is projected to grow by more than $14 billion (£11bn) by 2032 – with both companies stating their desire to get ahead of the trend and help it blossom.

COP28 President-Designate Sultan Al Jaber is also the Chairman of Masdar and was present for the signing of the deal.

Mikail Houari President for Airbus in the Middle East, said: “SAF is one of the best solutions for reducing the aviation sector’s carbon footprint and this agreement will support in advancing its much-needed development and growth.

“At Airbus, we continue to lead the industry towards a more sustainable future. We are committed to contributing to driving innovation to support the ambition set by IATA, ATAG and ICAO to reach net zero carbon emissions by 2050.”