The Partnership for Carbon Accounting Financials (PCAF) today announces its latest Partner undergoing accreditation, MITCON Consultancy & Engineering Services Limited, a mission-driven sustainability consultancy. This partnership is a milestone in MITCON’s drive to support financial institutions in aligning their operations with global standards through accurate carbon accounting and disclosures.
Once they complete the PCAF accreditation, MITCON will boost its offering to banks, asset managers and other financial organizations seeking to measure their emissions associated with financial activities in line with unified global standards. Specifically, the partnership will enable MITCON to further assist clients in assessing Scope 3, Category 15, a key requirement for comprehensive Climate Risk assessments.
The timing of the partnership is key. The Reserve Bank of India (RBI) has recently issued guidance urging banks to disclose their climate-related financial risks. As global frameworks including TCFD, ISSB and other disclosure mandates shape the regulatory landscape, financial institutions in India are under increasing pressure to quantify and report their impact, especially those related to emissions associated with financial activities.
Consequently, MITCON has launched a dedicated vertical focused on sustainability and climate-related services for the financial sector. This new business line underscores the company’s long-term commitment to enabling climate action in the financial system through tools such as portfolio-level emissions baselining, target setting and scenario analysis.
“We are pleased to welcome MITCON as our latest Partner undergoing Accreditation in the PCAF network. Their commitment to supporting financial institutions in India with high-quality, science-based carbon accounting aligns strongly with PCAF’s mission to standardize the measurement and disclosure of emissions associated with financial activities. We’re looking forward to our continued collaboration.”
Bart van Lunteren, PCAF Accredited Partner Lead
“At MITCON Consultancy & Engineering Services Limited, we are proud to join the PCAF initiative to support greater transparency and accountability in financed emissions. This partnership aligns with our commitment in delivering solutions for a sustainable tomorrow and empowers us to help financial institutions in India and beyond, make informed, climate-aligned decisions.”
Harshad Joshi, Chief Operating Officer at MITCON
By becoming part of the PCAF network, MITCON joins a global movement of organizations committed to standardized, transparent carbon accounting.
About PCAF
The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 600 banks and investors have subscribed to the PCAF initiative. PCAF signatories work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions associated with their financial activities. By doing so, PCAF signatories take an important step to subsequently assess climate-related risks, set climate targets and develop effective strategies to decarbonize their portfolios.
About MITCON
MITCON is a consulting firm dedicated to delivering integrated solutions in engineering, environment, energy, and sustainability. With a strong foundation in technical expertise and innovation, MITCON supports industries, Governments, and financial institutions in navigating the transition toward low-carbon, climate-resilient development. Guided by its motto, “Solutions for a Sustainable Tomorrow”, MITCON offers specialized services in carbon accounting, ESG advisory, climate risk assessment, and sustainable infrastructure. Through its partnership with PCAF, MITCON aims to enhance transparency and standardization in financed emissions reporting, contributing to global net-zero ambitions.
