RMI & Five Global Banks Launch The Pegasus Guidelines — A Voluntary Emissions Measurement & Reporting Standard For The Aviation Sector
RMI, in cooperation with leading global banks—BNP Paribas, Citi, Crédit Agricole CIB, Societe Generale, and Standard Chartered—and in consultation with industry, experts, and additional financial institutions has developed a first-of-its-kind framework to enable banks to measure and disclose their aviation lending portfolios’ emissions in a consistent and comprehensive manner.
The Pegasus Guidelines were designed by RMI and shaped by a core working group of leading financial institutions and draw upon existing standards including those of the Science-Based Targets initiative and the International Civil Aviation Organization’s Carbon Offsetting and Reduction Scheme for International Aviation . Pro bono legal advice was provided by Watson Farley & Williams throughout development.
Similar to frameworks completed for steel , shipping , and aluminum , the financial institutions that leverage the Pegasus Guidelines will be equipped to: Tracey McDermott, Steering Group Chair of the Net-Zero Banking Alliance and Group Head, Conduct, Financial Crime and Compliance, Standard Chartered Bank said, “The Net Zero Banking Alliance welcomes the Aviation climate-alignment methodology developed by RMI in collaboration with leading financiers. Members of the Alliance have committed to setting portfolio decarbonisation targets in this important sector.
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