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) and five global banks have come together to develop the Pegasus Guidelines, a new emissions measurement standard for the aviation sector.
The Pegasus Guidelines aim to provide a standardized and transparent way for airlines to measure and report their greenhouse gas emissions. This will allow for more accurate tracking of emissions, which is crucial for developing effective strategies to reduce carbon footprints in the aviation industry.
The guidelines were developed in collaboration with industry stakeholders, including airlines, aircraft manufacturers, and regulatory bodies. They take into account the unique challenges and complexities of measuring emissions in the aviation sector, such as the varying fuel efficiency of different aircraft types and the impact of flight routes on emissions.
One of the key features of the Pegasus Guidelines is the use of a carbon intensity metric, which measures emissions per unit of passenger or cargo transported. This metric provides a more accurate reflection of an airline’s environmental impact than total emissions alone, as it takes into account the efficiency of the airline’s operations.
The guidelines also include recommendations for best practices in emissions reporting, such as using verified data sources and conducting regular audits to ensure accuracy. By following these guidelines, airlines can improve their transparency and accountability in managing their carbon footprints.
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 financing decisions for the aviation sector. This will incentivize airlines to adopt more sustainable practices and reduce their emissions in order to secure financing from these institutions.
Overall, the Pegasus Guidelines represent a significant step forward in addressing greenhouse gas emissions in the aviation industry. By providing a standardized and transparent framework for measuring emissions, they will help airlines to better understand and manage their environmental impact, ultimately leading to a more sustainable future for air travel.
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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/