UTRECHT, NETHERLANDS - 22 September 2022 – The Partnership for Carbon Accounting Financials (PCAF) is pleased to launch the Guidance on financing the European building transition to net zero. The Guidance report is intended for any financial institution, particularly for banks and investors with known use of proceeds in mortgages and commercial real estate portfolios.
This guidance has been developed within the scope of the PCAF project Financing towards net-zero buildings, funded by the Laudes Foundation. Throughout its development, PCAF intensively engaged with the Core Project Team of the PCAF project, which consists of a diversified set of representatives from the financial industry; and the Expert Advisory Group, which is comprised of key stakeholders from the building and financial sectors at both European and global levels that provided key expertise and guidance.
"Immediate action is required to stay in line with the Paris climate goals. The new PCAF Guidance is an important tool to make the net-zero building transition actionable. It offers specific guidance for financial institutions how to decarbonize their mortgage and commercial real estate portfolios step-by-step."
Giel Linthorst, Executive Director, PCAF Secretariat & Director, Guidehouse
Accompanying the launch of the Guidance, The PCAF Secretariat is hosting a 30-minute virtual launch of the PCAF Guidance on financing the European building transition to net zero on Thursday, 22ndof September at 2pm CET | 8am ET.
The virtual launch event will feature Madeline Schneider, Project Manager of PCAF’s Financing towards net-zero buildings, Peter Sandahl, Head of Sustainability of Nordea Life & Pension, and Gabriel Marosi, Group Sustainability Officer of Erste Group. The virtual launch event will help participants understand the added value of the PCAF Guidance for financial institutions, including the introduction of a harmonized net-zero building definition as well as a stepwise approach towards net zero with the required effort level and speed to decarbonize building portfolios.
About the Partnership for Carbon Accounting Financials (PCAF)
The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 300 financial institutions have subscribed to the PCAF initiative. PCAF signatories 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, investments, insurance liabilities and other financial products and services. By doing so, PCAF signatories 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.
Learn more at: https://carbonaccountingfinancials.com
***For more information, please contact:
Executive Director, PCAF
Project Manager, Financing towards net-zero buildings