A radiation curable aqueous composition with reduced photo-yellowing, said composition comprising - water, and - at least one saturated carboxylic acid hydrazide-containing compound and at least one ethylenically unsaturated compound and/or - at least one ethylenically unsaturated carboxylic acid hydrazide-containing compound, - optionally, at least one external emulsifier and optionally at least one co-solvent, wherein the carboxylic acid hydrazide-containing compound is prepared from: (i) one or more compound containing free isocyanate groups, and (iv) one or more carboxylic acid hydrazide compound, wherein the ethylenically unsaturated compound is prepared from: (i) at least one compound containing free isocyanate groups, (ii) at least one ethylenically unsaturated compound containing at least one group capable of reacting with an isocyanate and further at least one ethylenically unsaturated group, (iii) optionally, at least one compound containing at least one group capable of reacting with isocyanate groups and further at least one hydrophilic group either: a. capable of rendering the compound dispersible or soluble in water, or b. acting as co-dispersant of the compound in water if the radiation curable aqueous composition further comprises at least one external emulsifier and optionally at least one co-solvent, either directly or after the reaction with a neutralizing agent to provide a salt, (iv) at least one carboxylic acid hydrazide, and (v) optionally, at least one compound containing at least one group capable of reacting with isocyanate groups but no ethylenically unsaturated groups, wherein the molar ratio of NH 2 groups provided by compounds ( iv) over the residual NCO groups obtained after reaction of compounds ( i) to ( iii) and optionally ( v) is more than 1, thereby forming a compound containing at least one -C(=O)NH-NH-C(=O)-NH- linkage. - water, and - at least one saturated carboxylic acid hydrazide-containing compound and at least one ethylenically unsaturated compound - at least one ethylenically unsaturated carboxylic acid hydrazide-containing compound, - optionally, at least one external emulsifier and optionally at least one co-solvent, (i) one or more compound containing free isocyanate groups, and (iv) one or more carboxylic acid hydrazide compound, wherein the ethylenically unsaturated compound is prepared from: (i) at least one compound containing free isocyanate groups, (ii) at least one ethylenically unsaturated compound containing at least one group capable of reacting with an isocyanate and further at least one ethylenically unsaturated group, (iii) optionally, at least one compound containing at least one group capable of reacting with isocyanate groups and further at least one hydrophilic group either: a. capable of rendering the compound dispersible or soluble in water, or b. acting as co-dispersant of the compound in water if the radiation curable aqueous composition further comprises at least one external emulsifier and optionally at least one co-solvent, either directly or after the reaction with a neutralizing agent to provide a salt, (iv) at least one carboxylic acid hydrazide, and (v) optionally, at least one compound containing at least one group capable of reacting with isocyanate groups but no ethylenically unsaturated groups, (i) at least one compound containing free isocyanate groups, (ii) at least one ethylenically unsaturated compound containing at least one group capable of reacting with an isocyanate and further at least one ethylenically unsaturated group, (iii) optionally, at least one compound containing at least one group capable of reacting with isocyanate groups and further at least one hydrophilic group either: a. capable of rendering the compound dispersible or soluble in water, or b. acting as co-dispersant of the compound in water if the radiation curable aqueous composition further comprises at least one external emulsifier and optionally at least one co-solvent, either directly or after the reaction with a neutralizing agent to provide a salt, a. capable of rendering the compound dispersible or soluble in water, or b. acting as co-dispersant of the compound in water if the radiation curable aqueous composition further comprises at least one external emulsifier and optionally at least one co-solvent, (iv) at least one carboxylic acid hydrazide, and (v) optionally, at least one compound containing at least one group capable of reacting with isocyanate groups but no ethylenically unsaturated groups, wherein the molar ratio of NH 2 groups provided by compounds ( iv) over the residual NCO groups obtained after reaction of compounds ( i) to ( iii) and optionally ( v) is more than 1, thereby forming a compound containing at least one -C(=O)NH-NH-C(=O)-NH- linkage.