Guidehouse supported the Partnership for Carbon Accounting Financials in developing and releasing the Global GHG Accounting and Reporting Standard for the Financial Industry
The Partnership for Carbon Accounting Financials (PCAF) has launched a global standard designed to provide banks, asset owners, and asset managers a free and standardized tool for measuring and reporting greenhouse gas (GHG) emissions associated with loans and investments.
Over the past year, Guidehouse, which serves as PCAF’s secretariat, has worked closely with 16 financial institutions to develop the first-of-its-kind Global GHG Accounting and Reporting Standard for the Financial Industry.
“The launch of this first ever global standard is a key milestone,” says Giel Linthorst, director at Guidehouse and executive director of the PCAF secretariat. “The PCAF standard is a foundational piece for many other climate initiatives. We are very grateful to the 16 financial institutions that worked intensively together, supported by the PCAF secretariat, to create this standard. Now it is our task to implement it in order to achieve greater transparency and accountability of the financial sector.”
According to PCAF, 87 financial institutions, representing $17.8 trillion in total assets, have committed to measuring and reporting the greenhouse gas emissions associated with loans and investments. The PCAF Standard is expected to be a key resource for them – and the wider financial sector – in advancing their climate goals. Learn more in this press release and download the standard.
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