Utrecht, 10 October 2023: The Partnership for Carbon Accounting Financials (PCAF) today announces its collaboration with Persefoni, a leading climate software platform.
In a collaboration aimed at accelerating the financial sector's transition to a more sustainable economy, this represents a significant step towards enhancing transparency and accountability in the finance sector's efforts to address the challenges of accurate carbon accounting.
Recognizing the need to support the software and data providers guiding financial institutions in these efforts, PCAF has developed an accredited partner program to provide firms with access to the PCAF Database for use with PCAF Signatories, as well as important technical assistance in the practical application of the PCAF Standard, among other benefits.
Through this strategic collaboration, PCAF and Persefoni are enhancing the way financial institutions measure, manage, and report their carbon emissions and climate impact. This collaboration will facilitate the financial sector's efforts to align with global sustainability goals.
Chris Snyder, North American regional lead for PCAF stated, “We are delighted to welcome Persefoni as an accredited partner. Through this partner program, we hope to provide service providers with the tools needed to navigate the complex landscape of carbon accounting and make informed decisions that drive positive environmental impact across the financial sector.”
Kristina Wyatt, Deputy General Counsel and Chief Sustainability Officer at Persefoni added, “This partnership sets a precedent for collaboration in the financial sector, reinforcing the commitment of both PCAF and Persefoni to champion sustainable finance practices. By combining PCAF's expertise in carbon accounting with our advanced software solutions, we hope to catalyze change and help financial institutions worldwide in their commitment to a more sustainable future.”
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.
Persefoni AI Inc. provides businesses, financial institutions, and governmental agencies the software fabric for managing their organization’s climate-related data, disclosures, and performance with the same level of rigor and confidence as their financial reporting systems. The company’s software enables users to simplify the calculation of their carbon footprint, identify decarbonization strategies and perform climate trajectory modeling aligned to temperature rise scenarios set forth by the Paris Agreement, and benchmark their impact by region, sector, and/or peer groups.