SBAB has signed on to PCAF, a collaboration between financial institutions worldwide to enable harmonized assessments and disclosures of greenhouse gas emissions financed by loans and investments. PCAF will help facilitate financial institutions contributions to the targets in the Paris Climate Agreement.
The banking and financial industry plays an integral role in achieving the Sustainable Development Goals within the Paris Climate Agreement. Through investments and lending all over the world, banks and financial institutions influence a major part of the business community’s sustainable development. Sustainability is fully integrated in SBAB’s business and to achieve greater leverage operationally, SBAB has prioritized goal 8, 11, 12 and 13 of the UN’s 17 SDGs within the 2030 Agenda for Sustainable Development.
By becoming a signatory to PCAF, SBAB pledges to work together with the other participants to jointly develop standardized methods to measure and disclose greenhouse gas emissions of loans and investments.
- Becoming a signatory to PCAF means that it will be easier to measure our indirect climate impact and to compare our progress with other financial institutions. We aim to promote sustainable societies with energy efficient and climate smart housing and an integral part of that is having reliable measurement models which clearly show when we are making progress together with our customers. For the financial industry as a whole, PCAF implies greater transparency and clarity, which increases our chances of reaching the targets set by the Paris Climate Agreement, said Axel Wallin, Head of Sustainability, SBAB.
PCAF was launched globally in September 2019. Currently, more than 150 banks and investors have subscribed to the initiative. The participants work together to jointly develop a global reporting standard for the financial industry to measure and disclose the greenhouse gas emissions of their loans and investments. The purpose is to facilitate the assessment of climate-related risks and to set targets in line with the Paris Climate Agreement.
For further information, please contact:
Erik Bukowski, Head of Press, SBAB, phone: +46724 51 79 37, e-mail: firstname.lastname@example.org