CCB Financial Leasing closes inaugural sustainability-linked loan structured around the Pegasus Guidelines for the Aviation Sector
CCB Financial Leasing Corporation Limited, a wholly-owned subsidiary of China Construction Bank Corporation, closed the sustainability-linked financing of three A321 NEO aircraft, operated by Pegasus Hava Taşımacılığı A.Ş. Airlines.
CCB Financial Leasing Corporation Limited, a wholly-owned subsidiary of China Construction Bank Corporation, closed the sustainability-linked financing of three A321 NEO aircraft, operated by Pegasus Hava Taşımacılığı A.Ş. Airlines.
Building on its longstanding support throughout the years to CCB Financial Leasing in the transportation sector, including both its aviation and shipping segments, Crédit Agricole CIB acted as Sustainability Coordinator, as well as Mandated Lead Arranger, Agent, Security Agent and Account Bank in this transaction.
This sustainability-linked financing was structured around the methodologies and roadmap outlined in the Pegasus Guidelines for the Aviation Sector, publicly released in March 2024 by the Rocky Mountain Institute (RMI), following nearly two years of consultative work with a group of aviation banks including Crédit Agricole CIB.
About the Pegasus Guidelines
The Pegasus Guidelines is an open-source methodology, welcomed at the time of its publication both by the Science Based Target Initiative (SBTI) and the Net Zero Banking Alliance (NZBA), which:
- enables users to calculate the carbon emission intensity of either an individual aircraft or portfolio of aircraft, a lessor or an airline;
- is linked to a 1.5°C-aligned decarbonisation roadmap, the Mission Possible Partnership (MPP) Prudent Roadmap, otherwise known as MPP Pru, which sets out yearly carbon emission intensity figures for the aviation sector all the way up to 2050 on the path to net zero.
In addition to helping banks measure and disclose the emissions intensity of their aviation portfolios in a harmonised manner, the Pegasus Guidelines are also well-suited to serve as a methodological reference to structure a sustainability-linked financing.
Read the entire methodology underlying the Pegasus Guidelines
“Crédit Agricole CIB was one of the driving force behind the creation of the Pegasus Guidelines. This new landmark financing shows that beyond its initial intent of enabling banks to satisfy their NZBA reporting requirements, the Pegasus Guidelines are also an efficient manner for banks to structure a sustainability-linked loan in the aviation sector. We thank CCB FL for the trust they showed in selecting us to structure such an innovative framework for this strategic project.”

Arnaud Cadilhon
Executive Director, Aviation Group Asia-Pacific
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