Utrecht, 11 October 2023: The Partnership for Carbon Accounting Financials (PCAF) today announces its collaboration with Watershed, a leading enterprise climate platform.
As the global financial industry makes much needed progress in the measurement and disclosure of emissions associated with its activities, PCAF has continued to develop robust standards for carbon accounting to support financial institutions in this effort. The PCAF Standard, now widely adopted by financial institutions worldwide, is a cornerstone of the decarbonization process across the industry.
In recognition of the need to assist the service providers supporting the financial sector in its transition towards a more sustainable economy, PCAF has developed an accredited partner program for businesses and consultancies operating in the climate data and analytics space.
The program will grant partner organizations access to the PCAF Database for use with PCAF Signatories, as well as invaluable technical assistance in the application of the PCAF Standard, among other benefits.
Watershed shares PCAF’s commitment to elevating the quality and accuracy of GHG accounting. Through its work, Watershed enables companies to measure, report, and take action on their emissions, allowing them to develop audit-ready carbon footprints that drive tangible emissions reductions. Watershed also distinguishes itself by providing embedded climate intelligence from the world's foremost climate and policy experts, empowering companies to meet regulatory requirements, explore new business opportunities, and manage climate-related risks effectively.
Chris Snyder, North American regional lead for PCAF stated, "We are delighted to join forces with Watershed. This collaboration signifies a major stride ahead in our mission to catalyze climate action within the financial sector. By providing our accredited partners with access to PCAF’s expertise and tools, we aim to raise the bar for emissions measurement and disclosure standards across the industry."
Taylor Francis, co-founder of Watershed added, “We are delighted to formalize our partnership with PCAF. The work PCAF has done has rapidly accelerated the financial sector’s efforts to track and reduce carbon emissions. Watershed was built based on these standards. This partnership allows us to build on that foundation, supporting our customers and helping amplify PCAF’s expertise.”
The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 430 banks and investors have subscribed to the PCAF initiative. PCAF participants work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions of their loans and investments. By doing so, PCAF participants take an important step to assess climate-related risks, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonize our society.
Watershed is the enterprise climate platform. Companies like Airbnb, Carlyle Group, Everlane, YETI, and BBVA use Watershed to measure, report and act on their emissions, so they can produce audit-ready carbon footprints that drive real reductions. With embedded climate intelligence from the world’s leading climate and policy experts, Watershed is the platform of choice for companies seeking to satisfy regulatory requirements, unlock new business opportunities, and address climate-related risks. Watershed customers also have exclusive access to a marketplace of pre-vetted, high-quality carbon projects and groundbreaking virtual power purchase agreements.