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 voluntary standard for emissions measurement 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. By establishing a common set of guidelines, the hope is that airlines and other stakeholders in the aviation industry will be able to better understand and manage their emissions, ultimately leading to a reduction in overall carbon footprint.
The guidelines cover a range of emissions sources, including aircraft operations, ground operations, and upstream activities such as fuel production and distribution. They also provide guidance on how to calculate emissions using internationally recognized methodologies, ensuring that data is accurate and comparable across different organizations.
One of the key features of the Pegasus Guidelines is their focus on transparency and accountability. Airlines that adopt the guidelines are required to publicly disclose their emissions data, allowing stakeholders such as investors, customers, and regulators to track progress towards emission reduction goals.
In addition to providing a framework for emissions measurement, the Pegasus Guidelines also offer guidance on setting emission 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.
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 related to the aviation sector. By aligning their lending practices with the Pegasus Guidelines, these banks are sending a clear signal to the industry that sustainability is a priority.
Overall, the Pegasus Guidelines represent a significant step forward in addressing greenhouse gas emissions from the aviation sector. By providing a common framework for measurement and reporting, as well as guidance on setting emission reduction targets, the guidelines have the potential to drive meaningful change in the industry. As more airlines and financial institutions adopt the guidelines, we can expect to see a shift towards a more sustainable and environmentally responsible aviation sector.
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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/