Partnership for Carbon Accounting Financials
Definition
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
The Global GHG Accounting and Reporting Standard was developed by the PCAF Global Core Team, a heterogeneous group of banks and investors of varied sizes and from different regions. The purpose of the Standard is to provide financial institutions with transparent, harmonized methodologies to measure and report the emissions they finance through loans and investments.
PCAF Asset Classes
The Standard currently covers the following asset classes:
- Listed Equity and Corporate Bonds
- Business Loans and Unlisted Equity
- Commercial Real Estate
- Mortgages
- Project Finance
- Motor Vehicle Loans
GHG Protocol References
The Global GHG Accounting and Reporting Standard for the Financial Industry builds on the GHG Protocol standards for corporate reporting such as
- the GHG Protocol Corporate Accounting and Reporting Standard
- the Corporate Value Chain (Scope 3) Accounting and Reporting Standard, and
- the supplemental Technical Guidance for Calculating Scope 3 Emissions.
More specifically, this Standard supplements the GHG Protocol Corporate Value Chain (Scope 3) Accounting and Reporting Standard8 by providing additional detailed guidance per asset class.