Utrecht, 28th January 2025: The Partnership for Carbon Accounting Financials (PCAF) today announces a new collaboration with Olive Gaea, a sustainability and climate-tech company leveraging AI to drive ESG management and decarbonization.
Olive Gaea will be PCAF’s first regional accredited partner in the Middle East and North Africa (MENA) region since launching the PCAF MENA chapter in October 2024. By leveraging its AI-driven Zero platform, Olive Gaea plays an important role in the region, empowering financial institutions with the tools, methodologies, and education needed to manage their emissions effectively while driving meaningful progress towards MENA’s sustainability goals.
PCAF MENA is co-chaired by leading financial institutions Emirates NBD and First Abu Dhabi Bank who, together with the PCAF Secretariat, promote collaboration among the thirteen other Middle Eastern financial institutions that have already committed to PCAF, in order to foster a platform for regional cooperation and knowledge sharing.
As an accredited partner, Olive Gaea will work together with PCAF to enhance the capabilities of financial institutions in the Middle East and North Africa to accurately measure and report their carbon emissions associated with financial activity.
“We are pleased to welcome Olive Gaea as our first accredited regional partner in MENA. Our launch into the region is an important milestone and our collaboration with Olive Gaea will be crucial as we continue to adapt PCAF’s methodologies to the unique economic and environmental context of MENA."
Bart van Lunteren, Head of Partnerships for PCAF
“As the first accredited PCAF partner in the MENA region, we are proud to support the banking and financial services sector in tackling the complexities of financed emissions and aligning with global best practices. This partnership will further bridge global standards with regional realities, enabling financial institutions to lead in transition financing and climate action, positioning the MENA region as a critical player in the global journey toward a net-zero emissions economy.”
Vivek Tripathi, co-founder & CEO, Olive Gaea
Supporting the organisations that are guiding financial institutions in their efforts for consistent, comparable, and high-quality disclosures is key to accelerating the transition towards a more sustainable and equitable global economy. As such, PCAF has developed an accredited partner program to provide these organizations with access to the PCAF Database, as well as important technical assistance in the practical application of the PCAF Standard, among other benefits.
ENDS
About PCAF
The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 570 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 subsequently assess climate-related risks, set climate targets and develop effective strategies to decarbonize their portfolios.
Olive Gaea
Olive Gaea is a climate tech leader helping organizations achieve sustainability goals with its AI-driven platform, Zero. Zero, transforms sustainability from a compliance challenge into a strategic advantage, tackling complex decarbonization and ESG challenges.
The Saas platform enables fast, accurate, compliant, and efficient sustainability management, offering an all-in-one solution from data collection to ESG reporting in compliance with global frameworks like PCAF, GRI, and TCFD.
The platform includes tools for peer benchmarking, real-time analytics, and mitigation strategies. Its Financed Emissions Module enables financial institutions to accurately measure emissions, align portfolios with sustainability standards, and support low-carbon investments. Scalable and impactful, Zero empowers businesses to lead in the low-carbon transition.
