News archive

PCAF Launches Public Consultation on New Methodologies for the Global GHG Accounting and Reporting Standard

The consultation will be open until 28 February 2025

Reflecting on PCAF’s Climate Week NYC 2024 Event

Advancing collaboration and streamlining interoperability in GHG accounting

PCAF Korea Working Group Explores the Future of Sustainable Finance in Korea

At the end of the summer, the PCAF Korea Working Group held its second event at the KB Financial Group's StarD Hall in Seoul, marking a critical discussion on the future of sustainable finance and the role of financial institutions in addressing climate risks. Organized by the Korea Sustainability Investment Forum (KoSIF) and supported by KB Financial Group, the event brought together 26 attendees, including 12 of which are PCAF signatories.

PCAF Announces Riverstone as Regional Partner to Support Southeast Asia’s Decarbonization Efforts

PCAF announces a new collaboration with Riverstone Environmental, one of Malaysia’s leading sustainability consultancies.

PCAF launches MENA region

Growing focus on sustainable finance in the Middle East and North Africa has driven the need for a dedicated focus on the region.

PCAF hosts first event in India as demand for GHG accounting grows in the market

PCAF is hosting its inaugural in-person event for financial institutions and industry leaders from across the Indian market.

PCAF Announces StepChange as First Regional Partner to Support the Indian Financial Market

PCAF today announces its collaboration with StepChange, one of India’s leading sustainability platforms.

PCAF welcomes 500th signatory as demand for GHG accounting drives initiative’s continued growth

The industry-led initiative hits major milestone five years after its global launch

The Partnership for Carbon Accounting Financials (PCAF) appoints prestigious new trio to Board of Directors

Justine Bolton, Prajña Khanna and Alison Vipond bring decades of experience to build on the industry-led initiative’s ambitious growth objectives and strengthen its impact on financial sector transparency

PCAF releases findings from building actual emissions measurement pilot studies

Two reports formulated in collaboration with Eliq and UCL explore innovative approaches and their potential for supporting financial institutions to access actual emissions data

PCAF Japan publishes inaugural report on the implementation of GHG accounting in Japan

PCAF Japan Coalition publishes its inaugural report detailing the group's advances in disclosing emissions associated with financial activities

Reporting on financed GHG emissions in the D/A/CH/Li region 2023

PCAF publishes its first regional report for the German-speaking region D/A/CH/Li presenting the work of the regional group and examples of reporting on financed emissions

The Partnership for Carbon Accounting Financials (PCAF) launches Brazil chapter

Co-chaired by two of Brazil’s largest financial institutions, the new PCAF chapter will promote the measurement and disclosure of emissions from Brazil’s financial sector

S&P Global Sustainable1 announced as Principal Founding Data Partner to PCAF

The Partnership for Carbon Accounting Financials (PCAF) today announces it's collaboration with S&P Global Sustainable1 as the first data provider to join it's industry-led initiative.

United Nations Federal Credit Union Joins the Partnership for Carbon Accounting Financials

As momentum behind greenhouse gas (GHG) accounting continues to build, the Partnership for Carbon Accounting Financials (PCAF) announces that the United Nations Federal Credit Union (UNFCU), a credit union founded by UN staff, has joined its industry-led initiative.

PCAF announces areas for standard development in 2024

The global Core Team of the Partnership for Carbon Accounting Financials (PCAF) selects new areas to develop and refine GHG accounting methodologies

The Partnership for Carbon Accounting Financials announces strategic partnership with China’s Green Finance Forum of 60

Green Finance Institute and PCAF collaborate to highlight the crucial role of the financial sector in the transition to net zero

Together, the organisations are hosting a series of webinars to discuss the importance of financed embodied carbon measurement and disclosure in the building sector. The first of these will be hosted by Madeline Schneider, Director of Operations at PCAF and Eduardo Brunet, Director of GFI Spain on 12 December.

PCAF launches a new Accounting and Reporting Standard for Capital Markets

The Standard enables financial institutions to measure and disclose the GHG emissions associated with off-balance emissions for the first time

Updates from implementing GHG accounting for the financial sector in the Netherlands 2023

PCAF Netherlands publishes its 7th annual report on the implementation of GHG accounting for the financial sector in the Netherlands

PCAF and Watershed Partner to Increase Transparency in Financial Sector’s Efforts to Decarbonize

The Partnership for Carbon Accounting Financials (PCAF) today announces its collaboration with Watershed, a leading enterprise climate platform.

PCAF Announces Persefoni as Partner to Support the Financial Sector’s Decarbonization

The Partnership for Carbon Accounting Financials (PCAF) today announces its collaboration with Persefoni, a leading climate software platform.

PCAF announces new program to train 2,500 professionals in GHG accounting

The Partnership for Carbon Accounting Financials marks the start of Climate Week NYC with the launch of new activity to support the growth of consistent carbon emissions disclosures across the global financial system

Financing towards net-zero buildings: PCAF launches updated European building emission factor database

Today’s launch of the updated version of the PCAF European building emission factor database provides further tools to the European financial sector in their journey towards net zero building portfolios.

PCAF Academy pre-launch

We are excited to provide an update on the PCAF Academy!

Norges Bank Investment Management joins the Partnership for Carbon Accounting Financials

We are delighted to announce that Norges Bank Investment Management (NBIM) has joined the Partnership for Carbon Accounting Financials (PCAF)!

PCAF and CDP align data quality systems to support standardization

Through their continued collaboration, PCAF and CDP have co-authored a paper examining the importance of data quality as part of a wider initiative to align their data quality scores.

Expansion of the PCAF Board of Directors: Start of application process

PCAF is looking to expand the current Board of Directors by an additional two Board members. This is a unique opportunity to set, oversee, and steer the overall direction of PCAF, the leading global initiative in carbon accounting for the financial industry.

PCAF, CRREM, and GRESB release the first version of technical guidance for "Accounting and Reporting of GHG Emissions form Real Estate Operations"

The jointly developed technical guidance by PCAF, CRREM and GRESB for the accounting and reporting of real estate-related operational emissions is released today.

The Partnership for Carbon Accounting Financials (PCAF) launches the Nordic chapter

Co-chaired by Handelsbanken from Sweden and DNB from Norway, the PCAF Nordic chapter will promote the expansion of measurement and disclosure of emissions associated with financial activities by Nordic financial institutions.

PCAF launches the 2nd version of the Global GHG Accounting and Reporting Standard for the Financial Industry

The 2nd version of the Standard includes an update on measuring and reporting financed emissions, a method for sovereign debt, and guidance to account for emission removals.

PCAF Netherlands publishes 6th annual report on implementation of GHG accounting for the financial sector in the Netherlands

This sixth report serves as an update to Dutch implementation activities such as key activities, benefits of measuring and disclosing emissions associated with financial activities, challenges faced, and next steps.

The Partnership for Carbon Accounting Financials (PCAF) launches Korea coalition

Chaired by KB Financial Group, the PCAF Korea coalition will promote the expansion of measurement and disclosure of emissions associated with financial activities by Korean financial institutions.

PCAF launches the Global GHG Accounting and Reporting Standard for Insurance-Associated Emissions

The Standard will allow insurance and reinsurance companies to measure and disclose GHG emissions associated with their underwriting portfolios.

PCAF launches public consultation on Capital Markets Facilitated Emissions methodology

The public consultation will be open until October 21 2022.

PCAF launches Guidance on financing the European building transition to net zero

The report provides guidance on how to contribute to the net-zero journey and decarbonize building portfolios using a stepwise approach.

Special PCAF News Update: Fall 2022

Fall update on PCAF guidance documents and methodologies.

PCAF launches public consultation on Global GHG Accounting and Reporting Standard for the Insurance Industry Progress Report

The consultation will be open until 26 August 2022.

Public Consultation on Technical Guidance for the Accounting and Reporting of Financed Emissions from Real Estate Operations is now open!

This document is the first version of a jointly developed Technical Guidance by PCAF, CRREM and GRESB for the accounting and reporting of real estate-related operational emissions.

PCAF welcomes 250th signatory, growing global participation fourfold in three years

PCAF has achieved its goal of growing to over 250 signatories. Sights set on continuing to build global network and supporting committed financial institutions to achieve high-quality disclosures of financed emissions.

PCAF Blog: U.S. Securities and Exchange Commission (SEC) Issues Proposed Rule on Climate-Related Financial Disclosures

Chris Snyder, North America Regional Lead of the PCAF Secretariat, highlights how PCAF can help financial institutions address the SEC's proposed disclosure mandate.

Towards net-zero buildings: the Partnership for Carbon Accounting Financials (PCAF) launches European building emission factor database

The publicly available database will enable the financial industry to measure and track the financed emissions of their European building portfolios towards net zero.

The Partnership for Carbon Accounting Financials (PCAF) welcomes 200th financial institution: Japan Post Bank Co., Ltd.

PCAF, which is dedicated to standardizing measurements of financed emissions, has doubled global participation as signatory assets have tripled to $60 trillion since February 2021.

PCAF and CDP Enable Financial Institutions to Measure and Disclose Financed Emissions

PCAF and CDP push to increase the profile of the Global Greenhouse Gas Accounting and Reporting Standard for Financial Industry.

The Partnership for Carbon Accounting Financials (PCAF) launches Japan coalition

Chaired by Mizuho Financial Group, the PCAF Japan coalition will promote the expansion of measurement and disclosure of financed emissions by Japanese financial institutions.

PCAF launches a public consultation on three new draft methods and a discussion paper on capital market instruments

The consultation is open until 17 December, 2021.

PCAF UK publishes its year-one progress report

Over the last 12 months, PCAF UK participants have been collaborating to better understand the challenges of measuring and reporting emissions associated with their residential property portfolios.

PCAF collaborates with the Joint Impact Model to improve financed emissions estimates in developing countries

The Joint Impact Model can be used to fill the gap in GHG emissions data for corporate lending portfolios in developing countries when real data is lacking or incomplete.

PCAF Netherlands publishes 5th annual report on implementation of GHG accounting in Dutch Financial Industry

Woori Financial Group joins the Partnership for Carbon Accounting Financials

Woori Financial Group will strengthen eco-friendly finance and implement environmental risk responsibilities.

Partnership for Carbon Accounting Financials collaborates with UN-convened Net-Zero Insurance Alliance to develop standard to measure insured emissions

Urgent, ground-breaking work on insured emissions, allowing insurers to set net-zero targets for their respective underwriting portfolios

PCAF Presents at Carbon Accounting Workshop in Shenzhen to engage with Chinese Financial Institutions

Advancing carbon measurement and disclosure in mainland China through the presentation of PCAF methodology and best practices.

PNC Financial Services Group, Inc. joins the Partnership for Carbon Accounting Financials (PCAF)

Advancing its efforts to be a conscientious steward of the environment, PNC commits to measuring and disclosing its financed emissions.

Mizuho Financial Group becomes the first Japanese financial institution to join PCAF

Mizuho is the first Japanese financial institution and one of the largest globally to date to join the Partnership for Carbon Accounting Financials.

PCAF and PAII kick off collaboration to further develop the PCAF Standard

The PAII already points to PCAF as the leading GHG accounting approach to underpin the Net Zero Investment Framework.

BBVA joins the Partnership for Carbon Accounting Financials

BBVA reinforces its commitment to reducing the risks of climate change and joins PCAF as the first Spanish financial institution to commit to measuring & disclosing its financed emissions.

PCAF publishes Strategic Framework for Paris Alignment

Financial institutions gain a defined process to achieve net zero emissions and a toolbox they can use along the way.

GRESB, CRREM and PCAF Join Forces

GRESB, PCAF, and CRREM are partnering up in 2021 to provide investors and banks with the guidance they need to measure and report on their financed emissions from real estate. This partnership is meant to help financial institutions formulate, set, and implement forward-looking targets in relation to their financed emissions.

KB Financial Group Inc. joins the Partnership for Carbon Accounting Financials

KB Financial Group reinforces its pledge to reduce the impact of its operations on Earth’s climate, continuing its environmental leadership role in the financial services industry.

HSBC joins the Partnership for Carbon Accounting Financials

PCAF's largest financial institution by total financial assets to date commits to measure and disclose its financed emissions using the PCAF methodology.

Report shows the benefits of using the PCAF Standard in concert with the EU Taxonomy Regulation

When combined, the PCAF Standard and the EU Taxonomy Regulation give financial institutions a holistic view of portfolio climate impact, equipping them to take strategic action to align with the Paris Agreement.

New Standard Developed to Help Financial Industry Measure and Report Emissions

The PCAF Standard is built on and backed by the Greenhouse Gas Protocol, earning the "Built on GHG Protocol" mark.

Deutsche Bank joins the Partnership for Carbon Accounting Financials

Consistent, harmonised reporting supports Deutsche Bank's sustainability strategy and provides stakeholders with more transparency.

The Partnership for Carbon Accounting Financials (PCAF) publishes Briefing for Asset Managers

Additional guidance for asset managers to be presented in upcoming webinar.

The Partnership for Carbon Accounting Financials (PCAF) welcomes 100th financial institution: Royal Bank of Canada

PCAF doubled its global participation in less than 18 months, as total participant assets grew more than six-fold to over $21 trillion. New goal of 250 financial institutions set for year-end 2022.

BMO Financial Group joins the Partnership for Carbon Accounting Financials

Ranked most sustainable bank in North America by the Wall Street Journal, the Dow Jones Sustainability Index and Corporate Knights, BMO is committed to measuring and disclosing the GHG emissions of its portfolio.

PCAF and KoSIF join forces on strengthening financed emissions measurement of Korean Financial Institutions

This partnership aims to support financial institutions in South Korea to measure and disclose the financed emissions of their portfolios.

Nordea joins the Partnership for Carbon Accounting Financials

Nordea takes an important step to further strengthen its work to track and measure its climate change risks and impacts by joining the industry-led Partnership for Carbon Accounting Financials (PCAF). This will support Nordea’s commitment to aligning its lending and investment portfolio to the climate goals of the Paris Agreement.

PCAF Netherlands releases report updating progress of implementation of GHG accounting in Dutch financial industry

Dutch banks are increasingly measuring the GHG impact of their loans and investments with PCAF.

PCAF and VfU partner to build capacities on measuring financed emissions of financial institutions in Germany, Austria and Switzerland (DACH region)

The collaboration aims to support financial institutions in Germany, Austria and Switzerland to measure and disclose the financed emissions of their portfolios.

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. With the “Built on Greenhouse Gas Protocol” mark, the PCAF Standard becomes the global reference for GHG accounting for financials.

CTBC Financial Holding joins the Partnership for Carbon Accounting Financials

It is the 80th financial institution globally to join PCAF, and the first from Taiwan to do so.

Improved data model to disclose climate impact of loans and investments

More accurate data will lead to better disclosures and better decisions

Partnership for Carbon Accounting Financials (PCAF) launches UK coalition

Initial members are the International business of Federated Hermes, Triodos Bank UK, NatWest Group, Lloyds Banking Group, CDC Group, Investec plc, Ecology Building Society and Nationwide Building Society.

PCAF reinforces and diversifies its Steering Committee

Collaborating with the Net-Zero Asset Owner Alliance (AOA) , PCAF adds a representative of AOA to its Steering Committee and welcomes NMB Bank from Nepal to its leadership

Comerica joins the Partnership for Carbon Accounting Financials

A step to strengthening its environmental commitment by working with its customers to limit the impacts of climate change

Investec passes new climate resolution and joins PCAF

Investec becomes the second bank in South Africa to commit to measuring and disclosing its financed emissions.

First global standard drives financial institutions to measure and track the climate impact of their lending and investment portfolios

16 financial institutions led development as part of the Partnership for Carbon Accounting Financials

Bank of America Largest U.S. Financial Institution to Join The Partnership for Carbon Accounting Financials And Its Core Team

Partnership Building Methodology for Financed Emissions

NatWest Group becomes first major UK bank to join the Partnership for Carbon Accounting Financials

NatWest Group has become the first major UK bank to sign up to the Partnership for Carbon Accounting Financials (PCAF)

Morgan Stanley Joins Leadership of Global Carbon Accounting Partnership (PCAF)

Morgan Stanley becomes the first U.S.-based global bank to join PCAF and its Steering Committee as part of the Firm’s commitment to measuring and disclosing its approach to climate change risk and opportunity

New partnership to support financial institutions in their alignment with the Paris Agreement

PCAF and RMI's Center for Climate-Aligned Finance partner to develop standardized frameworks, methods and data for carbon accounting and climate alignment in the financial sector.

CBS publishes CO2 emissions of Dutch banks' mortgage portfolios

Insight into CO2 emissions from private mortgage portfolios - the result of a unique collaboration between The Dutch Central Bureau of Statistics (CBS) and PCAF

Triodos Bank, front runner in impact reporting, discloses financed emissions of entire portfolio

Useful step to set baseline to improve and monitor progress in working with the bank's customers to reduce emissions

ABN AMRO, one of the pioneers of PCAF is marking the third year of financed emission reporting

This is enabling ABN AMRO to develop innovative products that contribute to reduce GHG emissions and support the achievement of the Paris Agreement’s goals.

PCAF and CIBAFI sign memorandum of understanding to roll out carbon accounting in the Islamic banking sector

Enabling Islamic banks to measure and disclose the greenhouse emissions financed by loans and investments

PCAF publishes a guidance to navigate through the cluster of climate initiatives

Understanding the cluster of climate initiatives will help financial institutions at different levels of progress to identify the most efficient support available to scale their climate efforts.

The PCAF Dutch group unveils a new carbon accounting report at COP25

With updates and new methods, the group makes a significant contribution towards harmonizing the way financial institutions measure emissions financed by loans and investments

The PCAF North America group launches its first report on carbon accounting methodologies

The group developed methodologies to calculate the GHG emissions of loans and investments in six asset classes.

Global Launch of Partnership for Carbon Accounting Financials (PCAF)

50+ Global financial institutions representing 2.9 trillion in assets commit to measure and disclose the carbon emissions of their loans and investments.

Global banking leaders commit to align carbon footprint with Paris Agreement

Following the Global Alliance for Banking on Values Summit in Vancouver, financial leaders have committed to a global effort to track and monitor the carbon impact of their portfolio of loans and investments within three years.

PCAF report launched at COP24

The latest PCAF report ‘Harmonising and implementing a carbon accounting approach for the financial sector’ was formally launched today, December 10th 2018, at the Climate Summit in Katowice for an audience of international stakeholders.

New PCAF report presented in Brussels

Bas Eickhout, member of the European Parliament and rapporteur Taxonomy sustainable investments, received the new PCAF report today in Brussels.

Amalgamated Bank launches initiative to measure and reduce climate impact of loan portfolio

Amalgamated becomes first US bank to commit to measuring, reporting, and reducing financed emissions.