The Partnership for Carbon Accounting Financials (PCAF) has launched the Global GHG Accounting and Reporting Standard for the Financial Industry.
The PCAF says the standard gives banks, asset owners and asset managers a tool for measuring and reporting greenhouse gas emissions associated with loans and investments. With the “Built on Greenhouse Gas Protocol” mark, the PCAF Standard becomes the global reference for GHG accounting for financials. Over the past 12 months, 16 financial institutions have teamed up to create the PCAF Standard:
ABN AMRO, Access Bank, Amalgamated Bank, Banco Pichincha, Bank of America, Boston Common Asset Managemen, Crédit Coopératif and its subsidiary Ecofi, FirstRand Ltd, FMO, KCB, Landsbankinn, Morgan Stanley, Produbanco, Robeco, Triodos Bank and Visión Banco
The PCAF Standard provides methods to measure financed emissions of six asset classes: listed equity and corporate bonds, business loans and unlisted equity, project finance, commercial real estate, mortgages and motor vehicle loans. As part of the PCAF initiative, 86 financial institutions, representing $17.5 trillion in total assets, have committed to measuring and reporting the greenhouse gas emissions associated with loans and investments.
The Global GHG Accounting and Reporting Standard is available at: