Partnership for Carbon Accounting Financials (PCAF)

We are thrilled to introduce the three newest members of PCAF’s Board of Directors. ? Justine Bolton, Carbon and Biodiversity Specialist at FirstRand, Prajna Khanna, Global Head of Sustainability at Prosus Group and Naspers Limited and Alison Vipond, Climate Specialist at Lloyds Banking Group bring decades of experience in the rapidly evolving space of climate finance to build on our industry-led initiative’s ambitious growth objectives. ? Through these appointments - which were made following a rigorous process to which all PCAF signatories were invited to apply last year - we aim to further strengthen the leadership capabilities of the Board of Directors, reflect the diversity of our signatories, and ensure that PCAF's activities remain closely aligned with the needs of the international financial sector. ? Read the full announcement and hear from Justine, Praj?a, and Alison about their new roles here: https://lnkd.in/ezzNtCzP

In September, PCAF was delighted to host its second annual event at Climate Week NYC 2024 titled "Advancing Collaboration and Streamlining Interoperability in GHG Accounting". Over 200 leaders from the global financial industry gathered to attend the keynote speeches, panel discussions and breakout sessions focused on how the financial sector can facilitate the decarbonization of the global economy. Interoperability within the climate finance space ensures that diverse systems, data, and frameworks can seamlessly work together, accelerating collaboration and impactful solutions at a global scale. It is essential for aligning standards, enhancing transparency, and driving collective accountability to meet climate goals efficiently. With particular thanks to our hosts at Deutsche Bank and our keynote speaker, Bella Tonkonogy, Senior Advisor at the U.S. Department of the Treasury's Climate Hub, who spoke about the importance of financial sector leadership in addressing climate risk. For those who were unable to attend the event, you can read the detailed write-up of each of the sessions on our website: https://lnkd.in/efYAKccQ #GHGaccounting #climatefinance And with special thanks to our video producer Zeshan Khalid.

PCAF congratulates DenizBank on the success of its recent event, “PCAF Methodology for Calculating Financed Loan Emissions”, hosted in its capacity as the first Turkish financial institution to join PCAF as a signatory. The event fostered insightful discussions among experts from Akbank, Turk Eximbank, KPMG, and Erguvan, exploring the implementation of the PCAF Standard and addressing challenges specific to Turkey’s financial sector. We extend our appreciation to DenizBank and all participants, including the PCAF regional lead for Europe, Marco Tormen, for their commitment to advancing carbon accounting practices and driving meaningful progress in sustainable finance. #GHGaccounting #climatefinance

As part of #COP29, tomorrow, PCAF's Executive Director, Angélica Afanador-Ardila, will be participating in a panel regarding the standardization of intervention-based GHG accounting. ? The session is organized by the Ministry of Economy, Trade and Industry (METI) and the WBCSD – World Business Council for Sustainable Development (WBCSD). It will showcase efforts to deepen commitment and application across the financial sector and highlight the progress and perspectives from key standard setters such as ISO and the GHG Protocol. ? PCAF is delighted to be driving the conversation forward at COP29 on the critical importance of 'Avoided Emissions' in climate action. ? To join the panel discussion virtually, register via this link: https://lnkd.in/e4CT23s5 ? #COP29 #AvoidedEmissions #Decarbonization #ClimateAction #Sustainability?

PCAF is delighted to announce that Jordan Kuwait Bank has committed to upholding the #PCAFStandard as part of the bank's efforts to support the Middle East's transition to a lower carbon economy. Jordan Kuwait Bank joins more than 530 signatories that have demonstrated commitment to address climate change and measure and disclose their financial activities GHG emissions. To find out more about the process of becoming a signatory, visit the PCAF website: https://lnkd.in/g_7qza5 #GHGaccounting #ClimateFinance #ClimateDisclosure

At the end of the summer, #PCAFKorea hosted its second in-person event at the KB Financial Group’s StarD Hall in Seoul. The event was organized by the Korea Sustainability Investment Forum ??????????(KoSIF) and supported by KB Financial Group. We were delighted to host the event and facilitate important discussions around sustainable finance, the role of financial institutions in addressing climate risks and working towards the ultimate reduction of greenhouse gas emissions in the Korean market. The event was attended by 12 PCAF signatories and representatives from 13 other financial institutions and opened with remarks by Karl Yang, Executive Director of KoSIF, who highlighted the role that PCAF Korea plays in supporting Korea’s transition to a low-carbon economy. You can read full highlights of the event via the PCAF website: https://lnkd.in/exVqWwRi #ClimateFinance #GHGaccounting

Bank of Baroda is taking a critical step toward a sustainable future by committing to measure and disclose the #GHGemissions associated with its portfolio of loans, investments, and other financial services. By joining #PCAF, Bank of Baroda is part of the drive to set a new standard for transparency within India’s banking sector. This commitment aligns Bank of Baroda's operations with the National Goals and underscores its dedication to transitioning towards a lower-carbon economy. By contributing to global #GHGaccounting practices, Bank of Baroda aims to foster sustainable growth across the financial sector. For any other financial institutions based in India considering how to measure and disclose the emissions associated with their financial activity, please find out more about being part of #PCAFGlobal could support you via: https://lnkd.in/g--ShqGe #ClimateFinance #GHGaccounting

We are delighted to announce Riverstone Environmental Sdn Bhd as PCAF's first regional accredited partner in Malaysia and Southeast Asia. The announcement comes as our presence in the wider region continues to grow with 11 Malaysian financial institutions having so far committed to upholding the PCAF Standard. Malaysia is actively positioning itself as a leader in sustainable finance within Southeast Asia, supported by a robust regulatory framework via the Malaysian Sustainable Finance Initiative (MSFI), which is designed to bolster the financial sector’s adoption of sustainable practices in Malaysia. This strategic collaboration will enhance capabilities and decarbonisation strategies in Malaysia and the broader South East Asia region, and we look forward to supporting more financial instititutions in Malaysia transition towards a low carn future in the months ahead alongside Riverstone Environmental. You can read more about the collaboration via our website: https://lnkd.in/eFsaSuHQ #GHGaccounting #financedemissions

AFFIN Group Bank Berhad joins #PCAFGlobal.?As one of the key players in Malaysia's financial sector, Affin Bank Berhad is taking vital steps in assessing and disclosing carbon emissions related to its financial activities in the region. This commitment highlights the important progress being made towards a lower carbon economy in Malaysia and the wider region. Thanks to AFFIN's sustainability team Irwin Mohd Eusoff, Jozaimah Johan Ali, Nur Anis Nor Azlan, Adib A., Atiqah Tajul, Hidayah Hamdan, Faiq Irfan and Aina Farhana #GHGaccounting #climatefinance

In response to growing momentum around sustainable finance in the Middle East and North Africa (MENA), PCAF yesterday announced its launch of the MENA region. Coming ahead of #COP29 in Baku next month, the announcement marks an important milestone to enhancing the measurement and disclosure of financial institutions’ GHG emissions within one of the world's most dynamic economic regions. As the world shifts towards more sustainable alternatives to oil and gas, the region's financial institutions are in a particularly important position to support the transition. PCAF MENA will be co-chaired by Emirates NBD and First Abu Dhabi Bank (FAB), two of the leading financial institutions in the region. Together with the PCAF Secretariat, the co-chairs will foster collaboration among the nine other Middle Eastern financial institutions that have already committed to the #PCAFStandard, creating a harmonized and unified platform for regional cooperation and knowledge sharing. The launch of the region will focus on adapting PCAF’s methodologies to the unique economic and environmental context of MENA, improving data quality and availability and ensuring alignment with emerging national and regional sustainable finance guidelines. If you are a financial institution based in MENA and are thinking about the journey to a lower-carbon future, you can get in touch to find out more about becoming a PCAF signatory: https://lnkd.in/gjd33wUm #MENA #climatefinance #PCAF #GHGaccounting