Friday 01 December 2023
IMB Bank has taken another step in strengthening its commitment to measuring and disclosing its financed emissions by joining the Partnership for Carbon Accounting Financials (PCAF).
The Partnership for Carbon Accounting Financials (PCAF) is a collaboration between financial institutions worldwide to enable harmonised assessments and disclosures of greenhouse gas emissions financed by loans and investments. With more than 440 financial institutions from six continents, the group is rapidly expanding in North America, Latin America, Europe, Africa and Asia-Pacific.
IMB Bank recently developed a greenhouse gas inventory and formulated an emissions reduction plan with a view to achieving Climate Active Carbon Neutral certification.
Following from this work, IMB Bank has just completed a baseline Green House Gas Assessment of its financed emissions in alignment with the Partnership for Carbon Accounting Financials (PCAF) framework.
Banks and financial institutions worldwide play a crucial role in facilitating the transition to a decarbonised world. “By joining PCAF we gain an industry-standard methodology to measure the emissions of our financing activities and facilitate a greater understanding of emissions profiles and pathways to reduce them. It will also help us to prepare for public disclosure of our greenhouse gas emissions,” says Robert Ryan, IMB Bank Chief Executive.
“Clear accounting and disclosure on greenhouse gas emissions, and reliable comparisons with our peers, are a key enabler of our climate strategy. Joining PCAF has helped us deliver this,” says Mr Ryan.
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