ABN AMRO proud to see PCAF’s global reporting standard launch

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Today marks the release of a new tool that financial institutions can use to measure and report the greenhouse gas emissions (GHG) linked to loans and investments. The tool, known as the Global GHG Accounting and Reporting Standard, was created by the Partnership for Carbon Accounting Financials (PCAF), of which ABN AMRO is a co-founder. Having earned the “Built on Greenhouse Gas Protocol” mark, the PCAF Standard is now the global reference for GHG accounting for financials.

The methodology is being launched as the global financial industry is increasing its focus on mitigating negative climate change impacts. The PCAF Standard provides methods to measure financed emissions of six asset classes: listed equity and corporate bonds, business loans and private equity, project finance, commercial real estate, mortgages and motor vehicle loans.

Intensive cooperation

“The launch of the PCAF methodology as a standard for measuring and reporting carbon emissions is a major milestone, all thanks to intensive collaboration in the financial sector. It's amazing to see an initiative launched in the Netherlands in 2015 by a handful of Dutch financial institutions result in a full-blown worldwide standard embraced by over 80 institutions. ABN AMRO has been on board since day one and continues to be very actively involved as a member of the global PCAF steering committee and Chair of PCAF Netherlands. We will continue to contribute to future developments that enable financial institutions to measure, report and control their impact,” says Tjeerd Krumpelman, Global Head of Advisory, Reporting & Engagement within Group Sustainability at ABN AMRO.

84 institutions worldwide on board

As part of the PCAF initiative, 84 financial institutions, representing $16.9 trillion in total assets, have committed to reporting on the basis of the new standard. The PCAF Standard is a key resource for them – and the wider financial sector – in advancing their climate goals. The Global GHG Accounting and Reporting Standard can be found at https://carbonaccountingfinancials.com/standard. The press release can be found here.

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