Argus launches SAF emissions reduction indexes and economics calculator

London, 3 August 2026

Global energy and commodity price reporting agency Argus has launched sustainable aviation fuel (SAF) emissions reduction indexes (ERIs), enabling aviation market participants to compare SAF economics with compliance and voluntary carbon market obligations.

The assessments and accompanying analytics provide an independent reference for airlines, fuel suppliers, corporate SAF buyers, investors and sustainability specialists evaluating regional SAF competitiveness, aviation decarbonisation costs and the allocation of Scope 3 emissions reductions.

Argus publishes ERIs for Europe, Asia and the US excluding Corsia¹, as well as for Europe excluding the EU emissions trading system (ETS). The ex Corsia assessments show the net cost of reducing aviation emissions through the hydrotreated esters and fatty acids synthetic paraffinic kerosene (HEFA SPK) pathway rather than purchasing Corsia eligible emissions units. The ex ETS assessment compares the cost of HEFA SPK with EU ETS compliance costs. Both reflect the net cost of using SAF after accounting for the value of the applicable carbon market pathway. All components of the calculations are derived from market-based assessments.

The ERIs normalise fuel prices on an energy equivalent basis using regional lifecycle emissions assumptions and are published in US dollars per tonne of carbon dioxide equivalent. The daily assessments are also published in US dollars per tonne of fuel to provide visibility of the underlying SAF premiums and support comparison with Argus physical SAF benchmark prices.

Argus has also launched an Excel based calculator that allows subscribers to create company specific views of procurement, compliance and decarbonisation strategies. The calculator uses the published ERIs as a reference point while allowing users to incorporate regional incentives, compliance mechanisms, emissions assumptions and operational costs. This enables subscribers to model company-specific procurement and decarbonisation scenarios, including Scope 3 negotiations and the allocation of SAF costs and environmental attributes between buyers and sellers.

Argus Media chairman and chief executive Adrian Binks said: “Our new ERI assessments help aviation industry market participants understand more clearly the relationships between  fuel pricing and steadily increasing mandated and voluntary carbon markets obligations. Together with the calculator, they offer a transparent and independent means of establishing the cost of emissions reduction and help participants decide how to allocate SAF costs and environmental attributes between buyers and sellers, including Scope 3 emissions reduction agreements.”

¹Corsia — tradeable credits under the global Carbon Offsetting and Reduction Scheme for International Aviation