Last month, PCAF India convened its inaugural summit to formally bring together participants from across the Indian financial sector and aligning with the start of Mumbai Climate Week. These events mark an important milestone for the chapter and an opportunity to engage more deeply with India’s sustainable finance ecosystem. The India Chapter plans on using the insights and momentum to guide their 2026 priorities and activities.
PCAF’s Inaugural Summit, “From Vision to Action,” took place on 12 February 2026 and was hosted by L&T Finance. This Summit brought together PCAF India signatories; key stakeholders including Reserve Bank of India, Association of Mutual Funds in India, National Bank for Financing Infrastructure and Development, National Bank for Agriculture and Rural Development, and the Finance Industry Development Council; and additional financial institutions to discuss India’s sustainable finance efforts.
Discussions focused on three key themes:
The Summit also served as a starting point for ongoing dialogue between financial institutions and ecosystem partners as India continues to advance its sustainable finance frameworks.
From 17-19 February 2026 Mumbai Climate Week took place as India’s first platform dedicated to accelerating action across key sectors. It brought together stakeholders to advance citizen driven, scalable solutions for India and the Global South, grounded in the region’s unique economic and development realities. PCAF’s team participated in various sessions at Mumbai Climate Week as delegates, bringing our perspective as the leading organization promoting transparent measurement of emissions associated with financial activities. Across these engagements, PCAF connected with different institutions, professionals and gained insights into how they are approaching data availability, governance, and capacity needs.
We are so inspired by the vast initiative, thoughtfulness, and dedication. Our PCAF India team is excited for what’s to come.
Across conversations with financial institutions, non-bank financial companies, and other stakeholders, there was clear interest in hands-on, India-specific guidance related to the PCAF Standard. Financial institutions are looking for support that goes beyond high-level principles and helps teams operationalize emissions associated with financial activities emissions accounting in day-to-day processes, including data collection, portfolio coverage, and internal use of results.
Many financial institutions in India are beginning to move from intent to early-stage implementation, undertaking emissions calculations, , and analyzing emissions-intensive sectors. These efforts are progressing alongside evolving regulatory frameworks, reflecting a proactive approach within the market.
PCAF India recently launched because of strong interest in the greenhouse gas accounting of emissions associated with financial activities. Engagements during the Summit and Mumbai Climate Week reinforced the relevance of PCAF’s globally recognized framework that can be adapted to India’s market context, particularly as reporting expectations continue to develop. Since the chapter’s launch, PCAF has seen increasing recognition across India’s financial ecosystem. This was reflected in discussions throughout the week, references to PCAF during Bank of Baroda and Union Bank of India Mumbai Climate Week sessions, and interest from institutions seeking to learn more about PCAF India, our activities for 2026, and how to join PCAF.
A central outcome of the PCAF India Inaugural Summit and Mumbai Climate Week was the opportunity to strengthen connections across India’s sustainable finance ecosystem.
These interactions underscored the importance of creating spaces where financial institutions can learn from one another, exchange practical experiences, and develop a shared understanding of emissions accounting. Many participants highlighted the value of peer learning, particularly in navigating data availability, internal governance, early implementation challenges, and expressed interest in continued engagement through the PCAF India Chapter.
Based on our conversations with financial institutions, we’ve tailored our approach and focus for the year. PCAF India is committed to four focus areas in 2026:
The PCAF India Inaugural Summit would not have been possible without many people and organizations. We would like to extend a thank you to those who made this event possible.
PCAF would like to extend its sincere thanks to Sequoia Climate Foundation, whose generous funding enabled the launch of the PCAF India Chapter. Their commitment to empowering financial institutions to lead on emissions disclosure has been instrumental in establishing this national platform.
We are also deeply grateful to L&T Finance for hosting the Summit. As a leading Indian Non-Banking Financial Company with a nationwide presence, L&T Finance’s support and leadership were critical in convening the ecosystem and advancing the conversation on carbon accounting in India. We look forward to continued collaboration in the years ahead.
Finally, thank you to PCAF India’s Chair and Vice Chairs, signatories, accredited partners, regulators, and industry associations for their continued support and engagement. The chapter’s progress depends on your collaboration, especially as we work together on data solutions, knowledge exchange, and the adoption of science-based accounting practices.
