Law firm Watson Farley & Williams is advising RMI and banks on developing a finance framework to support decarbonisation in aviation.
The lenders include Bank of America, BNP Paribas, Citibank, Crédit Agricole CIB, Société Générale and Standard Chartered Bank, WFW said.
RMI describes itself as "an independent, non-partisan, nonprofit" made up of "experts across disciplines working to accelerate the clean energy transition and improve lives."
The framework "represents a commitment by participating financial institutions to annually assess and disclose, consistent with the UN-convened Net-Zero Banking Alliance, the degree to which the greenhouse gas emissions from the aircraft, airlines and lessors that they finance are in line with 1.5°C climate targets", according to the law firm, which claimed it would "help to create consistency and transparency for financiers when reporting and measuring progress against decarbonisation targets".
Financiers operating within the framework "will be able to assess the emissions of their aviation loan books and work with their clients to report their emissions, fund lower-carbon solutions and support investments in new technologies to ensure alignment with 1.5°C climate targets", WFW said.
The framework is to draw on the so-called Poseidon Principles launched in 2019 to help the maritime industry meet the International Maritime Organization goal of reducing annual greenhouse gas emissions from shipping by at least 50% by 2050. The Poseidon Principles, which WFW played a "key role" in drawing up, include 29 signatories covering more than 50% of global shipping financing.