Utrecht, 2 May 2024: VfU and PCAF present the first regional report of the PCAF initiative for the German-speaking region D/A/CH/Li. 16 PCAF signatories in our region have contributed to the development of the first report.
The report presents the work of the regional group and examples of reporting on financed emissions. The financial service providers involved share their findings on the implementation of accounting methods with other interested parties and want to encourage them to take a positive step towards a low-carbon economy by accounting for financed emissions.
About the report
We are pleased to announce that the Association for Environmental Management and Sustainability in Financial Institutions (VfU) and the Partnership for Carbon Accounting Financials (PCAF) are jointly publishing the first report on financed emissions 2023 according to the PCAF standard for the D/A/CH/Li region. This report provides a comprehensive overview of the first examples of reporting on financed emissions from the financial sector in our region. It marks a significant step towards transparency and responsibility of the financial sector in dealing with climate risks.
The report includes detailed case studies and provides information on how 16 financial service providers in Germany, Austria, Switzerland and Liechtenstein measure and report on their financed emissions. As a methodological basis, the PCAF Standard establishes a clear and standardized framework for assessing and communicating the carbon intensity of financial portfolios.
The 2023 regional report highlights the work carried out in recent years and includes examples of reporting on various asset classes: from bonds and equities to corporate and real estate financing and vehicle loans. Thereby encouraging other financial service providers to see the recording and reporting of financed greenhouse gas emissions as a positive step towards a net-zero economy in the region and worldwide.
"Today, decision-makers have two choices: either they measure the financed emissions of their portfolios, or they will be the last generation of leaders to delay this step. Their successors will embark on this journey. We are happy to stand by your side."
Henrik Ohlsen (Managing Director of VfU) and Oliver Schmid-Schönbein (Managing Partner of E2 Management Consulting), co-leads of the D/A/CH/Li regional group.
Angélica Afanador, Executive Director of PCAF added,“Collaboration is the key to driving forward decarbonization at scale, so we are delighted to partner with VfU in the publication of this inaugural report. Raising both the quality and transparency of emissions disclosures is the crucial first step in the financial sector’s journey to net zero.”
