The Partnership for Carbon Accounting Financials (PCAF) and environmental reporting non-profit CDP have announced a partnership to promote PCAF’s financed emissions reporting standard.
According to research published by CDP earlier this year, financed emissions could be 700 times greater than operational emissions. Despite this, only a quarter of financial institutions who disclose their emissions to CDP report portfolio emissions.
The pair said that they would work together to provide “workshops, reports and case studies” for financial institutions in their networks, aimed at promoting reporting against the PCAF standard. The case studies, they said, will be used to demonstrate how PCAF reporting has improved institutions’ understanding of climate risks.
CDP said that it would also add data quality scores to its database of reported and modelled emissions from 7,200 companies, bringing it in line with PCAF’s system.
The partnership com…