PACE supports the Pegasus Guidelines with advanced sustainability analytics

Fexco’s PACE has welcomed the introduction of the Rocky Mountain Institute (RMI)’s Pegasus Guidelines, the first climate-aligned finance framework for the aviation sector. Launched today, this initiative is ‘designed to help banks independently measure and disclose their emissions intensity and climate alignment of their aviation lending portfolios compared to a 1.5 degrees C scenario to reach net-zero emissions by 2050,’ explains the RMI. Fexco’s independently verified sustainability platform PACE is working to support business opportunities on offer through improved ESG performance in sustainability-linked finance, enabling decisions across multiple data points including financier, airline operator, and individual aircraft type. Having been awarded the Pegasus Guidelines Qualifying Standard for data vendors, PACE’s data can enable stakeholders to calculate 100% emissions in aviation, with a new dedicated Pegasus Guidelines page providing detailed emissions breakdowns for owners, operators, lessors and portfolios. Chief product officer of PACE Robert Neale welcomed the platform’s recent endorsement, explaining: “PACE is dedicated to supporting the Pegasus Guidelines with precise analytics and reporting, aiding the sector in aligning with the global shift towards environmental responsibility”. PACE’s engagement with strategic partnerships with ‘key clients’ such as SMBC Aviation Capital and Aergo Capital, combined with the successful completion of the Pegasus Guidelines qualifying process, ‘ensure PACE remains the global benchmark when it comes to supporting customers in addressing aviation’s biggest challenge in mapping its pathway to Net Zero by 2050,’ concluded the company. Watson Farley & Williams (WFW) also stated it was ‘delighted’ to have acted as sole legal advisor to RMI and a working group of banks throughout the development of the Pegasus Principles, which was undertaken on a bro pono basis. “Our advice on the Pegasus Principles draws upon our extensive work on climate-aligned finance for other sectors,” highlighted London assets and structured finance partner Patrick Moore, who lead the WFW team. Moore was supported by corporate partner Christina Howard, associate Shaun Yong and regulatory, public law and competition partner Solange Leandro, as well as other WFW experts.