Utrecht, 31 October 2024: The Partnership for Carbon Accounting Financials (PCAF) today announces a new collaboration with Riverstone Environmental, one of Malaysia’s leading sustainability consultancies.
Riverstone is PCAF’s first regional accredited partner in Malaysia and Southeast Asia, as PCAF’s presence in the wider region continues to strengthen with 11 Malaysian financial institutions having committed to upholding the PCAF Standard. Malaysia is actively positioning itself as a leader in sustainable finance within Southeast Asia, supported by a robust regulatory framework via the Malaysian Sustainable Finance Initiative (MSFI), which is designed to bolster the financial sector’s adoption of sustainable practices.
Becoming an accredited partner of PCAF forms an important part of Riverstone’s wider sustainability efforts, reflected in its role as a signatory to the UN Global Compact since February 2022 and its dedication to helping its clients to address their climate challenges and goals, which has seen it complete more than 40 Carbon Footprint Assessments for Scopes 1, 2 and 3, as well as the development of decarbonisation strategies and roadmaps across the different sectors it supports.
Through this strategic collaboration, PCAF and Riverstone are aiming to enhance the capabilities of financial institutions in Malaysia and Southeast Asia to accurately measure and report their carbon emissions and impact on the environment.
"We welcome Riverstone Environmental as our most recent accredited regional partner. This collaboration serves to underscore our commitment to equipping consultants with the necessary training and resources to effectively support the financial sector in GHG accounting. As Malaysia continues to emerge as a key player in the region’s sustainability efforts, we are delighted to contribute to the nation’s progress towards a more sustainable economy."
Bart van Lunteren, Accredited Partner Lead
"We are proud to join this ecosystem that supports Malaysia’s transition towards low-carbon economy. We see ourselves as climate advocators who help the local industries build their capabilities in carbon footprinting and carbon reduction initiatives. Companies that integrate climate strategy into their business will find new opportunities, while creating social good on a global scale. Climate actions and business objectives can move in tandem.”
Chiew Teck Wee, Managing Director at Riverstone Environmental
Supporting the consultancies, software and data providers that are guiding financial institutions in their efforts towards decarbonization 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.
If you’re interested in finding out more about the program, please reach out to our team via info@carbonaccountingfinancials.com.
ENDS
About PCAF
The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 530 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.
About Riverstone Environmental Sdn Bhd
Riverstone Environmental is Malaysia’s leading environmental consulting firm, specializing in carbon footprint assessment, climate risk and strategy advisory, environmental impact and due diligence assessments. Founded in 2011, we started our journey serving the oil and gas clients in Malaysia who operate in offshore upstream, supporting them in accounting and reporting of GHG emissions, including Malaysia’s national oil custodian Petroliam Nasional Berhad (PETRONAS). Today, our team has grown and comprised of multi-disciplinary technical experts who are passionate about our environment, sustainability and climate change. Other than serving the oil and gas sector, we have expanded our services to other sectors requires our expertise knowledge in recent years, such as financial institutions, construction, property, manufacturing and others. We hope to continuously provide strategic guidance to help financial institutions and business transition to a low-carbon economy, comply with rapidly-heightened stakeholder expectations, and achieve their sustainability goals.
For more information, visit https://riverstone-enviro.com
