1. RMI has developed the Pegasus Guidelines with leading global banks to measure and disclose emissions from aviation lending portfolios.
2. The aviation industry contributes 2.5% of global CO2 emissions and needs to transition to low-carbon solutions.
3. The Pegasus Guidelines will help financial institutions assess and disclose their aviation portfolio emissions intensity and alignment with a 1.5°C scenario.
RMI, in collaboration with major global banks, has developed the Pegasus Guidelines, a framework for banks to measure and disclose the emissions of their aviation lending portfolios. This initiative aims to help banks assess their climate impact and align their lending with a 1.5°C scenario, considering the aviation industry’s significant contribution to global CO2 emissions. The success of the aviation sector in transitioning to a low-carbon economy relies on sustainable aviation fuels, hydrogen, and other technologies, with financial institutions playing a crucial role in supporting these solutions.
The Pegasus Guidelines emphasize the importance of collaboration among financial institutions, airlines, policymakers, and other stakeholders to drive progress in decarbonizing the aviation sector. Drawing upon existing standards, the framework enables banks to calculate their portfolio emissions intensity and alignment, disclose these results annually, and work towards a net-zero future. Several financial institutions, including Caixa Bank and CIC, have already committed to implementing this methodology, with others testing its application.
Through the Pegasus Guidelines, RMI aims to standardize the assessment of climate impact in aviation portfolios, fostering transparency and collaboration towards a sustainable future in the industry. The launch event for the Guidelines is scheduled for April 4, 2024, offering a comprehensive approach for financial institutions to navigate the pathway towards decarbonization in aviation lending.