Trusting the Data (part 2) – A Case Study on Jackson Square Aviation and Mitsubishi HC Capital Inc.
Jackson Square Aviation (JSA), owned by Mitsubishi HC Capital Inc. is a global aircraft lessor providing competitive financing and fleet solutions to airlines worldwide. In 2024, Mitsubishi HC Capital Inc. initiated the formulation of its Transition Plan toward the Realization of a Carbon-neutral Society to further enhance the effectiveness of addressing the Materiality (Priority Key Challenges) of Promote a Decarbonized Society. One of the important initiatives in the formulation of this Transition Plan was to obtain limited assurance on Scope 3 emissions, specifically, financed emissions associated with leased aircraft.
JSA, a PACE customer, faced a challenge: unlike traditional spreadsheet-based calculations, PACE uses a system-based approach to generate emissions data. This created a potential gap in traceability for the assurance provider, who needed to understand the logic behind the calculations.
PACE responded by providing:
- Granular emissions data tailored to JSA’s portfolio
- Documentation of emission factors, activity data, and calculation methodology
- Reproducible outputs that allowed Mitsubishi HC Capital Inc. to explain the logic to their assurance provider with confidence
This level of transparency enabled Mitsubishi HC Capital Inc. to submit a comprehensive assurance package and JSA became one of the first lessors to achieve limited assurance on its financed emissions. Mitsubishi HC Capital Inc. acknowledged the clarity and responsiveness of the data provided:
“We would like to inform you that a third-party assurance report has been issued by an independent assurance organization. regarding our Scope 1–3 transactions, including aircraft lease arrangements. We sincerely appreciate your invaluable support throughout the assurance process. Thank you once again, and we look forward to working with you.”
This milestone not only strengthens JSA’s sustainability credentials but also signals a shift in expectations across the aviation finance sector. The collaboration between JSA, Mitsubishi HC Capital Inc. and PACE highlights the power of data-driven partnerships in advancing climate goals, and the importance of robust data, whether assurance is pursued or not.
