Financial institutions taking action

Since 2015, PCAF members (i.e. commercial banks, development banks, asset owners/managers, insurance companies, etc.) have been actively collaborating to develop and implement greenhouse gas (GHG) accounting in their organizations.

All financial institutions have experienced great value in assessing and disclosing their GHG emissions of their loans and investments, as this triggers a institution-wide discussion on climate change and the role of the financial institution to facilitate the transition towards a low-carbon society.

Shaping the climate action journey for financial institutions

Infographic showing Scenario analysis, target setting, Climate action and reporting revolving around Measuring financed emissionsMeasuring the financed emissions of a portfolio is the foundation enabling financial institutions to perform scenario analysis, set targets, inform actions and disclose progress. These areas jointly are crucial for portfolio alignment and decarbonization.

PCAF developed a guidance to help financial institutions navigate through the cluster of climate initiatives and understand their purpose, focus, coverage and target audience. The guidance comes with an overview of climate initiatives, describing the status and the requirements to join them. Understanding this landscape will help financial institutions at different levels of progress to identify the most efficient support available to scale their climate efforts.

Download Guidance Brochure (PDF, 680 KB)

“Our experience in the Netherlands is that measuring and tracking climate impact drives concrete action and change. [...] PCAF helped us understand that our nearly 800,000 residential mortgages are one of the areas that have the highest carbon impact. With that knowledge, we now promote mortgages that incentivize customers to take energy efficiency measures. Climate action like that is not only good for business - but is a duty to our clients, the planet, and to future generations.”

Kees van Dijkhuizen, CEO ABN AMRO

Overview of institutions

The following financial institutions have committed to measure and disclose the greenhouse gas emissions associated with their portfolio of loans and investments. Those with "Disclosed" status have reported their financed emissions in PDFs available in the "Download" column.

InstitutionHeadquartersRegionCategoryTotal financial assets
in million $US (lending and investments) in 2018
StatusDateDownload
A.S.R.NetherlandsEuropeInsurance67,587DisclosedJul, 2020PDF symbol
ABN AMRONetherlandsEuropeCommercial bank644,938DisclosedMar, 2020PDF symbol
AIMCoCanadaNorth AmericaAsset owner/managers89,000CommittedOct, 2020
APGNetherlandsEuropeAsset owner/managers531,319DisclosedJul, 2020PDF symbol
ASN Bank**NetherlandsEuropeCommercial bank13,336DisclosedFeb, 2020PDF symbol
Access Bank PLCNigeriaAfricaCommercial bank19,000CommittedJun, 2020
Achmea Investment ManagementNetherlandsEuropeAsset owner/managers93,724DisclosedJul, 2020PDF symbol
ActiamNetherlandsEuropeAsset owner/managers64,265DisclosedMar, 2020PDF symbol
Alternative Bank Schweiz*SwitzerlandEuropeCommercial bank2,407CommittedMar, 2019
Amalgamated Bank*United StatesNorth AmericaCommercial bank16,507CommittedMar, 2019
Argenta Bank- en Verzekeringsgroep nvBelgiumEuropeCommercial bank45,857CommittedOct, 2019
BNG BankNetherlandsEuropeCommercial bank157,523CommittedMay, 2019
BRAC Bank*BangladeshAsiaCommercial bank4,283CommittedMar, 2019
Banca Etica*ItalyEuropeCommercial bank2,946DisclosedJun, 2020PDF symbol
Banco Bradesco S.A.BrazilLatin AmericaCommercial bank598,000CommittedJun, 2020
Banco PichinchaEcuadorLatin AmericaCommercial bank10,664CommittedAug, 2019
Banco Popular*HondurasLatin AmericaCommercial bank110CommittedMay, 2020
BancoSol*BoliviaLatin AmericaCommercial bank1,993CommittedMar, 2019
Bank Muamalat*MalaysiaAsiaCommercial bank5,349CommittedMar, 2020
Bank of AmericaUnited StatesNorth AmericaCommercial bank2,434,079CommittedJul, 2020
BarclaysUnited KingdomEuropeFinancial services group1,505,102CommittedNov, 2020
Beneficial State Bank*United StatesNorth AmericaCommercial bank1,011CommittedMar, 2019
Berner Kantonalbank AG BEKBSwitzerlandEuropeCommercial bank44,332CommittedSep, 2020
Boston Common Asset ManagementUnited StatesNorth AmericaAsset owner/managers2,700DisclosedMar, 2019PDF symbol
CDC GroupUnited KingdomEuropeDevelopment bank6,438CommittedAug, 2020
CTBC Financial HoldingTaiwan, ChinaAsiaCommercial bank213,496CommittedOct, 2020
Caisse d’économie solidaire Desjardins*CanadaNorth AmericaCommercial bank780DisclosedSep, 2020PDF symbol
CardanoUnited KingdomEuropeAsset owner/managers200,000CommittedNov, 2020
CitiUnited StatesNorth AmericaInvestment bank1,951,158CommittedAug, 2020
Clearwater Credit Union*United StatesNorth AmericaCommercial bank524CommittedMar, 2019
Coastal Enterprises, Inc. (CEI)United StatesNorth AmericaDevelopment bank107CommittedSep, 2019
Comerica, IncUnited StatesNorth AmericaCommercial bank114,700CommittedAug, 2020
Cooperativa Abaco*PeruLatin AmericaCommercial bank393CommittedMar, 2019
Cooperative Bank of Karditsa Coop.L.L.*GreeceEuropeCommercial bank115CommittedMar, 2019
Crédit Coopératif*FranceEuropeCommercial bank31,836CommittedMar, 2019
Cultura Sparebank*NorwayEuropeCommercial bank123CommittedSep, 2019
Danske Bank A/SDenmarkEuropeCommercial bank799,600CommittedMay, 2020
De VolksbankNetherlandsEuropeCommercial bank69,819DisclosedMar, 2020PDF symbol
Desjardins GroupCanadaNorth AmericaFinancial services group331,000CommittedNov, 2020
ESAF Small Finance Bank*IndiaAsiaCommercial bank725CommittedMar, 2019
Ecology Building Society*United KingdomEuropeCommercial bank226CommittedMar, 2019
Ekobanken*SwedenEuropeCommercial bank108CommittedMar, 2019
FMONetherlandsEuropeDevelopment bank8,544CommittedNov, 2015
FirstRand Group Ltd.South AfricaAfricaFinancial services group111,000CommittedJul, 2019
GLS Bank*GermanyEuropeCommercial bank7,778CommittedMar, 2019
Grupo BancolombiaColombiaLatin AmericaCommercial bank67,000CommittedJun, 2020
Hannon ArmstrongUnited StatesNorth AmericaCommercial bank6,200CommittedSep, 2020
International Business of Federated HermesUnited KingdomEuropeAsset owner/managers605,800CommittedSep, 2020
Invest - NLNetherlandsEuropeInvestment bank1,700CommittedAug, 2020
InvestecSouth AfricaAfricaInvestment bank63,100CommittedMay, 2020
Investec plcUnited KingdomEuropeInvestment bank63,100CommittedAug, 2020
KBC GroupBelgiumEuropeIntegrated bank-insurance group325,116CommittedSep, 2019
KCB Bank Kenya LimitedKenyaAfricaCommercial bank7,013CommittedAug, 2019
LAPO Microfinance Bank Limited*NigeriaAfricaCommercial bank189CommittedMar, 2019
LandsbankinnIcelandEuropeCommercial bank14,689CommittedSep, 2019
Lloyds Banking GroupUnited KingdomEuropeFinancial services group1,079,625CommittedSep, 2020
MNNetherlandsEuropeAsset owner/managers148,921DisclosedMay, 2020PDF symbol
MagNet Hungarian Community Bank*HungaryEuropeCommercial bank419CommittedMar, 2019
Merkur Cooperative Bank*DenmarkEuropeCommercial bank555CommittedMar, 2019
Morgan StanleyUnited StatesNorth AmericaInvestment bank947,795CommittedJul, 2020
NIBC Holding N.V.NetherlandsEuropeCommercial bank21,500CommittedOct, 2019
NMB Bank*NepalAsiaCommercial bank945CommittedMar, 2019
NN GroupNetherlandsEuropeInsurance230,000DisclosedJul, 2020PDF symbol
NWBNetherlandsEuropePromotional bank95,900CommittedJan, 2019
NatWest GroupUnited KingdomEuropeCommercial bank998,900CommittedJul, 2020
Nationwide Building SocietyUnited KingdomEuropeCommercial bank323,540CommittedSep, 2020
Opportunity Bank Serbia*SerbiaEuropeCommercial bank146CommittedMar, 2019
ProdubancoEcuadorLatin AmericaCommercial bank4,769CommittedSep, 2019
RabobankNetherlandsEuropeCommercial bank676,374CommittedNov, 2015
RobecoNetherlandsEuropeAsset owner/managers191,306CommittedNov, 2015
SAC Apoyo Integral, S.A.*El SalvadorLatin AmericaCommercial bank143CommittedMar, 2019
Self-Help Credit Union and Ventures FundUnited StatesNorth AmericaCommercial bank2,700CommittedSep, 2019
Shinhan Financial GroupRepublic of KoreaAsiaFinancial services group494,800CommittedNov, 2020
Stichting Pensioenfonds Metaal en Techniek (PMT)**NetherlandsEuropeAsset owner/managers90,719DisclosedMay, 2020PDF symbol
Stichting Pensioenfonds van de Metalektro (PME)**NetherlandsEuropeAsset owner/managers55,857DisclosedMay, 2020PDF symbol
Sunrise Banks*United StatesNorth AmericaCommercial bank1,132CommittedMar, 2019
TD Bank GroupCanadaNorth AmericaCommercial bank1,265,962CommittedNov, 2020
Triodos Bank*NetherlandsEuropeCommercial bank17,793DisclosedMar, 2020PDF symbol
UmweltBank*GermanyEuropeCommercial bank4,235DisclosedApr, 2020PDF symbol
VSECU*United StatesNorth AmericaCommercial bank1,118CommittedMar, 2019
Van Lanschot KempenNetherlandsEuropeAsset owner/managers92,789DisclosedApr, 2020PDF symbol
Vancity*CanadaNorth AmericaCommercial bank27,249CommittedMar, 2019
Verity Credit Union*United StatesNorth AmericaCommercial bank587CommittedMar, 2019
Vermont Community Loan FundUnited StatesNorth AmericaDevelopment bank43CommittedNov, 2019
Virgin Money UK PLCUnited KingdomEuropeCommercial bank109,118CommittedNov, 2020
Visión Banco*ParaguayLatin AmericaCommercial bank1,156CommittedMar, 2019
XacBank*MongoliaAsiaCommercial bank1,174CommittedMar, 2019
Íslandsbanki hf.IcelandEuropeCommercial bank9,400CommittedOct, 2020
Total 88 institutionsTotal financial assets: $ 18.0 Trillion

*) These banks are members of the Global Alliance for Banking Values (GABV) and have committed under their 3C Initiative to measure and disclose the carbon footprint of their loans and investments. Source: GABV (2019),  Climate Change Commitment, 4 March.

**) PMT and PME are managed by MN. Therefore, the total financial assets of the group of institutions in the table do not count the assets of PMT and PME, as these are already counted in the assets of MN.
ASN bank is part of de Volksbank. Assets of ASN bank are not counted in the total.

Achmea Investment Management is aware of the important role that the investment community plays in combatting climate change and achieving the ambitious objectives of the energy transition. We accept our responsibility to engage with the companies that we invest in and are committed to support measures to enable clarity about the footprint of our investments. Our participation in PCAF has been a valuable opportunity to learn and at the same time be at the forefront of carbon footprinting for financial institutions.
 

Rogier Krens, CIO Achmea Investment Management

Best practice examples

Financial institutions have applied the PCAF methods in various asset classes.

Please click in any asset class below to find out more about how financial institutions have measured the greenhouse gas emissions associated with the specific asset class.