The aviation industry is a major contributor to greenhouse gas emissions, accounting for approximately 2-3% of global emissions. In an effort to address this issue, the Rocky Mountain Institute (RMI) has partnered with five global banks to introduce the Pegasus Guidelines, a new standard for emissions measurement and reporting in the aviation sector.
The Pegasus Guidelines aim to provide a consistent and transparent framework for measuring and reporting greenhouse gas emissions from aviation activities. This will enable airlines and other stakeholders in the industry to accurately track their emissions, set reduction targets, and ultimately work towards a more sustainable future.
The guidelines cover a range of emissions sources, including aircraft operations, ground handling, and airport infrastructure. They also take into account the full lifecycle of emissions, from fuel production to end use, in order to provide a comprehensive picture of an organization’s carbon footprint.
One of the key features of the Pegasus Guidelines is their alignment with existing international standards, such as the Greenhouse Gas Protocol and the International Civil Aviation Organization’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). This ensures that organizations using the guidelines will be able to easily integrate their emissions data with other reporting frameworks and initiatives.
The five global banks involved in the development of the Pegasus Guidelines – BNP Paribas, Citi, Itaú Unibanco, Société Générale, and Standard Chartered – have committed to using the guidelines in their own lending and investment decisions. This sends a strong signal to the aviation industry that sustainability is a priority for financial institutions, and that organizations will be expected to meet higher standards when it comes to emissions reporting.
In addition to providing a framework for emissions measurement and reporting, the Pegasus Guidelines also offer guidance on setting emissions reduction targets and implementing strategies to achieve them. This includes recommendations for investing in more fuel-efficient aircraft, improving operational efficiency, and exploring alternative fuels and technologies.
Overall, the introduction of the Pegasus Guidelines represents a significant step forward in the aviation industry’s efforts to address climate change. By providing a standardized approach to measuring and reporting emissions, the guidelines will help organizations in the sector to better understand their environmental impact and take meaningful action to reduce it. With the support of leading financial institutions, the Pegasus Guidelines have the potential to drive real change and accelerate the transition to a more sustainable aviation industry.
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- Source: https://zephyrnet.com/rmi-5-global-banks-launch-the-pegasus-guidelines-a-voluntary-emissions-measurement-reporting-standard-for-the-aviation-sector-cleantechnica/