The Partnership for Carbon Accounting Financials (PCAF) Japan coalition published its third inaugural report, highlighting significant advancements in emissions disclosure and the coalition's reinforced activities since its inception.
PCAF Japan was launched in November 2021 and today, Japan’s signatories represent the largest PCAF market in Asia. PCAF Japan brings together a diverse range of financial institutions, from banks, securities companies, insurance companies to asset managers.
The report features the case studies from Japanese signatories that have disclosed their emissions using the PCAF Standard. The findings demonstrate that despite differences in business type, sizes and stage of progress, the Japan coalition is collectively making steady progress in measuring and disclosing Scope 3 and Category 15 emissions.
The report also reflects on the coalition’s enhanced activities in FY2024. Key highlights include:
・Subcommittees on facilitated emissions and avoided emissions
・Promoting knowledge sharing and capacity building through revision of the Reference guidance for participating institutions’ practices based on the member surveys and presentations
・First face-to-face quarterly meeting: held in December 2024, this milestone event united over 40 offline participants, alongside virtual attendees from all 26 signatories. The event reinforced collaboration across the coalition, as signatories reflected on progress made in 2024 and celebrated the successes of PCAF Japan in bringing together financial institutions to address climate risks, hold accountability for the GHG emissions associated with their activity.
In tandem with the report, PCAF Japan also released workplan for FY2025, with a strong focus on knowledge sharing, capacity building, stakeholder collaboration, and fostering the continued growth of the coalition.
“As we face the escalating impact of climate change, the PCAF Japan coalition's progress in sustainability disclosure and GHG emissions measurement is a testament to our collective commitment to a decarbonized society. Our rigorous efforts in advancing financed emissions measurement and fostering collaboration among participating institutions highlight our role in supporting the real economy's transition. I sincerely thank all PCAF Japan participating institutions, the PCAF Global Secretariat, and the PCAF Japan Secretariat for their unwavering dedication and contributions to this critical mission.”
Keiko Tanabe, Chair of PCAF Japan coalition and Operating Officer and General Manager of Sustainability Planning Department, Mizuho Financial Group, Inc.
