PCAF institutions work together to jointly develop the Global GHG Accounting and Reporting Standard for the financial industry to measure and disclose the greenhouse emissions of their loans and investments. that have been actively involved in developing and implementing greenhouse gas (GHG) accounting in their organization. When you visit these sites, you are agreeing to all of their terms of use, including their privacy and security policies. GielLinthorst Executive Director, PCAFSecretariatinfo@carbonaccountingfinancials.com, AnglicaAfanador ProgramManager, PCAFSecretariatinfo@carbonaccountingfinancials.com. The Partnership for Carbon Accounting Financials (PCAF) Thereafter, your institution will appear as Committed on the. Madeline is a Managing Consultant in the Sustainable Finance Team at Guidehouse. The Partnership for Carbon Accounting Financials (PCAF) launches first global standard to measure and report financed emissions Global standard gives banks, asset owners and asset managers a tool for measuring and reporting greenhouse gas (GHG) emissions associated with loans and investments. US banking heavyweights Morgan Stanley, Bank of America and CitiGroup have all signed up to PCAF in the . The bank is also dedicating significant financial capital to support the advancement of developing low carbon technologies, such as sustainable agriculture and biofuels, water infrastructure, clean hydrogen, waste-to-energy, and carbon capture sequestration technologies. PCAF Methodology for Project Finance - Open Risk Manual This standard, the. Type . When your company submits a commitment letter to info@carbonaccountingfinancials.com, it means that you have joined PCAFs methodology for assessing and disclosing the GHG emissions of your financial portfolio in accordance with the PCAF Standard. Now it is our task to implement it in order to achieve greater transparency and accountability of the financial sectorGiel Linthorst, Executive Director of PCAF Secretariat and Director at Guidehouse, Media inquiries please contact:Giel Linthorst, Executive Director PCAF SecretariatE: info@carbonaccountingfinancials.com, In 2015, under the leadership of ASN Bank, fourteen Dutch financial institutions created the Partnership for Carbon Accounting Financials (PCAF). the partnership for carbon accounting financials (pcaf) announced today the launch of the global ghg accounting and reporting standard for the financial industry, designed to provide a standardized, robust and clear way for banks, asset managers and asset owners to measure and report the ghg emissions impact of their loans and investment Partnership Accounting Quick and Easy Solution Guidehouse serves as the Secretariat of PCAF, providing technical support to PCAF signatories in the development and implementation of the Global GHG Accounting and Reporting Standard for the Financial The Partnership for Carbon Accounting Financials (PCAF) is an international collaboration of various companies and firms in the financial sector. CTBC Financial Holding Co () has disclosed its financed emissions after completing an inventory using the industry-leading Partnership for Carbon Accounting Financials (PCAF) methodology, becoming the first company in Asia to do so. Joining PCAF is one component of Bank of Americas efforts to reach net-zero greenhouse gas (GHG) emissions in its financial activities, operations and supply chain before 2050. UTRECHT, NETHERLANDS 26September 2022- The Partnership for Carbon Accounting Financials (PCAF) is pleased to launch the final public consultation on the capital markets facilitated emissions methodology. Learn more at:https://carbonaccountingfinancials.com, Program Manager & Latin America Team Lead, PCAF, Global GHG Accounting and Reporting Standard, Public consultation on Capital Markets Facilitated Emissions methodology, Public Consultation on Insurance-Associated Emissions Progress Report, Public Consultation on Technical Guidance for Real Estate Operations, Insurance-Associated Emissions Scoping Document. Thursday, . Contact PCAF | PCAF The targets represent a core element of Deutsche Bank's sustainability strategy and reflect the bank's commitments as a founding member of . Seeking Participation in the Beta Test of a New GHGP Cross-Sector Corporate Calculation Tool The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. UnifyTwin, Inc. | VentureRadar PCAF to Measure Emissions from Sovereigns, Green Bonds Deep Esg Vancity discloses GHG emissions of its loans and investments PCAF is an industry-led initiative that seeks to help financial institutions accurately and consistently measure and disclose the greenhouse gas (GHG) emissions associated with their financial activities. While this approach is useful to help . Touch device users, explore by touch or with swipe gestures. The PCAF Standard is a key resource for them - and the wider financial sector - in advancing their climate goals. Nothing herein is intended to constitute legal, tax, accounting, investment or other professional advice. Beneficial State was a key contributor in the creation of a PCAF for American and Canadian financial Institutions. GHG accounting provides crucial information to assess the resilience of portfolios to climate-related risks and identifies opportunities to finance the decarbonization thats so urgently needed for the transformation to a net zero emissions society.Peter Blom, CEO of Triodos Bank and Chair of the Global Alliance for Banking on Values, PCAFs methodology will be a key tool to measuring carbon emissions, enabling climate risk management, and helping drive low carbon product development.Audrey Choi, Chief Sustainability Officer at Morgan Stanley. Partnership for Carbon Accounting Financials (PCAF) is a financial industry-led partnership to facilitate transparency and accountability of the financial sector to the Paris Agreement. PCAF launches a public consultation on three new draft methods and a 1Financed emissions aligned with the Partnership for Carbon Accounting (PCAF) standards. We have illustrated how this process may be engineered and supported with an indexed approach. PCAF GHG accounting. The general PCAF approach contains three main steps: emission scopes covered, attribution of emissions, and equation and data required for calculating financed emissions. The organisation first published its Global GHG Accounting and Reporting Standard for the Financial Industry in November 2020. 2"Recommendations and Guidance: Financial Institution Net-zero Transition Plans.". PACTA versus PCAF. PCAF aims to use the feedback to develop a GHG accounting methodology for capital market instruments. On March 4th, 2019, leaders from 28 banks in the Global Alliance for Banking on Values (GABV) agreed to use the PCAF approach to assess and disclose the GHG emissions of their loans and investments. Currently,more than 300 financial institutions have subscribedto the PCAF initiative. Over the past 12 months, 16 financial institutions have teamed up to create the PCAF Standard: ABN AMRO (Netherlands),Access Bank (Nigeria),Amalgamated Bank (United States),Banco Pichincha (Ecuador),Bank of America (United States),Boston Common Asset Management (United States),Crdit Coopratif and its subsidiary Ecofi (France),FirstRand Ltd. (South Africa),FMO (Netherlands),KCB (Kenya),Landsbankinn (Iceland),Morgan Stanley (United States),Produbanco (Ecuador),Robeco (Netherlands),Triodos Bank (Netherlands),and Visin Banco (Paraguay). The Partnership for Carbon Accounting Financials (PCAF) is an industry-led initiative to enable financial institutions to consistently measure and disclose the GHG emissions financed by their loans and investments. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Not only was the collaboration among financial institutions effective, but also the engagement with all stakeholders throughout the year, including the public consultation. PCAF is a global partnership of financial institutions that work together to develop and implement a harmonized approach to assess and disclose the greenhouse gas (GHG) emissions associated with their loans and investments. Partnership for Carbon Accounting Financials methodology used to measure financed emissions. Carbon Accounting | Mizuho Financial Group Job Application for Carbon Emissions Analyst at CarbonChain UTRECHT, NETHERLANDS - 26 September 2022 - The Partnership for Carbon Accounting Financials (PCAF) is pleased to launch the final public consultation on the capital markets facilitated emissions methodology. What Is Carbon Accounting? - Persefoni Bank of America Coronavirus Resource Center, How we help people, companies and institutions realize their financial goals. Currently, more than 170 banks and investors have subscribed to the PCAF initiative. Emission Scopes Covered The Standard requires all financial institutions to report borrowers' and investees' absolute scope 1 and scope 2 GHG emissions across all sectors. As mentioned earlier, PCAF operates in Africa, Asia-Pacific, Europe, Latin America, and North America. The initiative was spearheaded by Dutch and North American banks, Bank of America joined PCAF in 2020, and has now been taken up as a global initiative. PCAF will help your company get started with GHG accounting for loans and investments at no cost (e.g., asset class scoping, data collection, methodology application, validation). Guidehouse. Learn more at:https://carbonaccountingfinancials.com, Global GHG Accounting and Reporting Standard, Public consultation on Capital Markets Facilitated Emissions methodology, Public Consultation on Insurance-Associated Emissions Progress Report, Public Consultation on Technical Guidance for Real Estate Operations, Insurance-Associated Emissions Scoping Document, Global GHG Accounting and Reporting Standard for the Financial Industry. after sending an email to info@carbonaccountingfinancials.com confirming your commitment. In this context the Dutch Platform Carbon Accounting Financials (PCAF), a collaboration between Dutch financial institutions, has launched an initiative in 2015 to develop a methodology for the different types of asset classes within financial institutions. Carbon Accounting, A Tool for Low-Carbon Transition: [Part.2 Assess the financed emissions of your financial institution. GHG Protocol and PCAF launched the Global GHG Accounting and Reporting Standard for the Financial Industry in January 2021 as a response to industry demand for a global, standardized approach to measure and report financed emissions. Learn more about its goals and how you can join this noble initiative. Learn about the PCAFs goals, scope, and implementation strategies, and how your institution can participate and reap the benefits of this collaboration. The potential to track every dollars emissions, you can opt out of online behavioral advertising. Hired to provide sustainability solutions for Investors & Large Corporations in Guidehouse's Energy, Sustainability & Infrastructure segment. Content contained herein may have been produced by an outside party that is not affiliated with Bank of America or any of its affiliates (Bank of America). These institutions from Europe, North America, Asia-Pacific, and Latin America, have combined total financial asset value of $71.6 trillion USD. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as MLPF&S or Merrill) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (BofA Corp.). Your company will adapt the GHG Accounting and Reporting Standard of your region. LoginAsk is here to help you access Partnership Accounting quickly and handle each specific case you encounter. Another benefit of joining a regional team is that your company will gain exposure at climate and finance events around the world. We provide: Automated & accurate measurement of emissions, in real-time; Sub-sector specific carbon reduction strategies; and Audit-ready reporting, compliant with the GHG protocol . In the paper, PCAF presents the next steps for developing and publishing a GHG accounting methodology for capital markets activities in 2022. PCAF: The Standard to Measure & Disclose Greenhouse Gas Emissions Businesses large and small are making great strides in accounting for their impact when it comes to sustainability. Deutsche Bank publishes targets for carbon footprint reduction 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. WHAT IS PCAF? PCAF participants work together to jointly develop theGlobal GHG Accounting and Reporting Standard for the Financial Industryto measure and disclose the greenhouse gas emissions of their loans and investments. Comerica Strengthens Environmental Commitment by Joining Partnership These materials are for informational purposes only. Upon receipt of feedback from external stakeholders, the PCAF Capital Markets Working Group resumed work on the development of the methodology in the beginning of 2022. After doing so, your institution will be marked as Disclosed on PCAFs, enables transparent disclosures of your stakeholders, of your portfolios. PCAF's methodology, The PCAF Global Standard, helps financial Climate and net zero frameworks: know your CDPs from your TCFDs Westpac Group Financed Emissions Methodology In 2021, Westpac undertook analysis with EY to estimate scope 3 emissions attributable to key lending portfolios. PCAF seeks feedback from all stakeholders, including financial institutions, regulators, policy makers, supervisors, data providers, consultants, and NGOs. The Partnership for Carbon Accounting Financials ( PCAF) was organized to help financial institutions assess and then disclose the Greenhouse Gas emissions (GhGs) of their loans and investments to help the institutions identify and manage the risks and opportunities related to GhGs in their business activities. Partnership for Carbon Accounting Financials (PCAF) - esg.tech Weblink: Climate Action 100+ 6. The Partnership for Carbon Accounting Financials (PCAF) became a global initiative in 2019. In the meantime it has become a global initiative1. PCAF GHG accounting measures and disclosures were adapted to the North American context by 12 financial institutions led by Amalgamated Bank. Because the financial services sector is critical to new development across all industries, its loans and investments have the potential to contribute to carbon emissions through client activities, such as a real estate development project, capital loan to fund a small businesss payroll, or the construction of a commercial property. 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