Developed by financial services and fintech company Fexco, Pace is a data platform that provides an independent tool for measuring aviation carbon emissions for stakeholders, says chief product officer Rob Neale.
The platform has adopted an internationally recognised voluntary framework on carbon emissions for the aviation sector, known as the Pegasus Guidelines, Neale explains. This means Pace can develop a standard method for measuring emissions for stakeholders that use the software.
The platform is aimed at businesses that finance the aviation sector, as well as companies that might have a lot of corporate overseas travel.
Pace blends their software with data from a few different aviation sources to develop “an accurate emissions footprint, from a whole airline fleet down to an individual aircraft seat – such as economy or business or first – or everything in between”, says Neale.
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According to the Paris Agreement, signed in 2016, airlines must outline how they will reduce their carbon emissions by 55 per cent by 2030 and to net zero by 2050, and report annually on how they are reducing their emissions.
Pace has launched Pace BlueSkies and Pace Airport to target two different markets. Pace Blue Skies is geared towards corporate customers, such as investment companies, looking for ways to lower their carbon output in aviation.
Pace Airports focuses on flight movements and allows airports to look at their growth and carbon emissions data separately, avoiding the risk of inaccurate data results.
