100+ Financial institutions - $ 43 + Trillion in total assets

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 the Strategic Framework for Paris Alignment to help financial institutions understand the process of Paris alignment and navigate through the cluster of climate initiatives to understand their purpose, focus, and role in each step of the journey. The Strategic Framework provides an overview of open, global and collaborative climate finance initiatives. 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 the Strategic Framework for Paris Alignment (PDF, 2.1 MB)

“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, former CEO, ABN AMRO

Overview of financial institutions

The following 144 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.

Financial institutionHeadquartersRegionCategoryTotal financial assets
in million $US (lending and investments)
StatusDateDownload
ABN AMRONetherlandsEuropeCommercial bank 644,938 Disclosed20210310Mar, 2021PDF symbol
ACTIAMNetherlandsEuropeAsset owner/managers 64,265 Disclosed20210304Mar, 2021PDF symbol
AIMCoCanadaNorth AmericaAsset owner/managers 89,000 Disclosed20201209Dec, 2020PDF symbol
APGNetherlandsEuropeAsset owner/managers 531,319 Disclosed20200701Jul, 2020PDF symbol
ASN Bank**NetherlandsEuropeCommercial bank 13,336 Disclosed20200201Feb, 2020PDF symbol
Access Bank PLCNigeriaAfricaCommercial bank 19,000 Committed20200601Jun, 2020
Achmea Bank NVNetherlandsEuropeCommercial bank 16,975 Disclosed20210311Mar, 2021PDF symbol
Achmea Investment ManagementNetherlandsEuropeAsset owner/managers 93,724 Disclosed20200701Jul, 2020PDF symbol
Alternative Bank Schweiz*SwitzerlandEuropeCommercial bank 2,407 Committed20190301Mar, 2019
Amalgamated Bank*United StatesNorth AmericaCommercial bank 16,507 Disclosed20210428Apr, 2021PDF symbol
Argenta Bank- en Verzekeringsgroep nvBelgiumEuropeCommercial bank 45,857 Committed20191001Oct, 2019
Aviva Investors Real AssetsUnited KingdomEuropeAsset owner/managers 66,200 Committed20210607Jun, 2021
BBVASpainEuropeCommercial bank 720,000 Committed20210517May, 2021
BKS Bank AGAustriaEuropeCommercial bank 14,218 Committed20210611Jun, 2021
BMO Financial GroupCanadaNorth AmericaCommercial bank 712,795 Committed20210111Jan, 2021
BNG BankNetherlandsEuropeCommercial bank 157,523 Committed20190501May, 2019
BRAC Bank*BangladeshAsia-PacificCommercial bank 4,283 Committed20190301Mar, 2019
BTG PactualBrazilLatin AmericaFinancial services group 47,100 Committed20210621Jun, 2021
Banca Etica*ItalyEuropeCommercial bank 2,946 Disclosed20200601Jun, 2020PDF symbol
Banco Bradesco S.A.BrazilLatin AmericaCommercial bank 598,000 Disclosed20210305Mar, 2021PDF symbol
Banco PichinchaEcuadorLatin AmericaCommercial bank 10,664 Committed20190801Aug, 2019
Banco Popular*HondurasLatin AmericaCommercial bank 110 Committed20200501May, 2020
Banco Promerica de Costa Rica, S.A.Costa RicaLatin AmericaCommercial bank 2,000 Committed20210203Feb, 2021
Banco de Galicia y Buenos Aires S.A.U.ArgentinaLatin AmericaCommercial bank 11 Committed20210616Jun, 2021
BancoSol*BoliviaLatin AmericaCommercial bank 1,993 Committed20190301Mar, 2019
Bank Muamalat*MalaysiaAsia-PacificCommercial bank 5,349 Committed20200301Mar, 2020
Bank für Kirche und Caritas eGGermanyEuropeCommercial bank 6,600 Committed20210611Jun, 2021
Bank of AmericaUnited StatesNorth AmericaCommercial bank 2,434,079 Committed20200701Jul, 2020
Banpro, Grupo PromericaNicaraguaLatin AmericaCommercial bank 2,099 Committed20210412Apr, 2021
BarclaysUnited KingdomEuropeFinancial services group 1,505,102 Committed20201101Nov, 2020
Basler KantonalbankSwitzerlandEuropeCommercial bank 54,708 Committed20210226Feb, 2021
BayernLBGermanyEuropeCommercial bank 304,500 Committed20210621Jun, 2021
Beneficial State Bank*United StatesNorth AmericaCommercial bank 1,011 Committed20190301Mar, 2019
Berner Kantonalbank AG BEKBSwitzerlandEuropeCommercial bank 44,332 Committed20200901Sep, 2020
BlackRockUnited StatesNorth AmericaAsset owner/managers 9,007,411 Committed20210504May, 2021
Boston Common Asset ManagementUnited StatesNorth AmericaAsset owner/managers 2,700 Committed20190301Mar, 2019
CDC GroupUnited KingdomEuropeDevelopment bank 6,438 Committed20200801Aug, 2020
CIBCCanadaNorth AmericaCommercial bank 577,900 Committed20210224Feb, 2021
CTBC Financial HoldingTaiwan, ChinaAsia-PacificCommercial bank 213,496 Disclosed20210701Jul, 2021PDF symbol
Caisse d’économie solidaire Desjardins*CanadaNorth AmericaCommercial bank 780 Disclosed20210520May, 2021PDF symbol
Caixabank, S.A.SpainEuropeCommercial bank 551,486 Committed20210707Jul, 2021
CardanoUnited KingdomEuropeAsset owner/managers 200,000 Committed20201101Nov, 2020
Charity Bank*United KingdomEuropeCommercial bank 0.4 Committed20210622Jun, 2021
CitiUnited StatesNorth AmericaInvestment bank 1,951,158 Committed20200801Aug, 2020
Clearwater Credit Union*United StatesNorth AmericaCommercial bank 524 Committed20190301Mar, 2019
Coastal Enterprises, Inc. (CEI)United StatesNorth AmericaDevelopment bank 107 Committed20190901Sep, 2019
Comerica, IncUnited StatesNorth AmericaCommercial bank 114,700 Committed20200801Aug, 2020
Cooperativa Abaco*PeruLatin AmericaCommercial bank 393 Committed20190301Mar, 2019
Cooperative Bank of Karditsa Coop.L.L.*GreeceEuropeCommercial bank 115 Committed20190301Mar, 2019
Coopeservidores R.L.Costa RicaLatin AmericaCommercial bank 1,149 Committed20210619Jun, 2021
Crédit Coopératif*FranceEuropeCommercial bank 31,836 Committed20190301Mar, 2019
Cultura Sparebank*NorwayEuropeCommercial bank 123 Committed20190901Sep, 2019
Danske Bank A/SDenmarkEuropeCommercial bank 799,600 Disclosed20210625Jun, 2021PDF symbol
De VolksbankNetherlandsEuropeCommercial bank 69,819 Disclosed20200301Mar, 2020PDF symbol
Desjardins GroupCanadaNorth AmericaFinancial services group 331,000 Committed20201101Nov, 2020
Deutsche Bank AGGermanyEuropeCommercial bank 1,600,000 Committed20210301Mar, 2021
Deutsche Kreditbank AG**GermanyEuropeCommercial bank 132,610 Committed20210610Jun, 2021
EIG Global Energy PartnersUnited StatesNorth AmericaAsset owner/managers 21,900 Committed20201223Dec, 2020
ESAF Small Finance Bank*IndiaAsia-PacificCommercial bank 725 Committed20190301Mar, 2019
Ecology Building Society*United KingdomEuropeCommercial bank 226 Disclosed20210305Mar, 2021PDF symbol
EdekabankGermanyEuropeCommercial bank 3,654 Committed20210518May, 2021
Ekobanken*SwedenEuropeCommercial bank 108 Committed20190301Mar, 2019
Erste Group Bank AGAustriaEuropeCommercial bank 340,400 Committed20210629Jun, 2021
Evangelische Bank eGGermanyEuropeCommercial bank 9,589 Committed20201217Dec, 2020
Evenlode InvestmentUnited KingdomEuropeAsset owner/managers 6,600 Disclosed20210414Apr, 2021PDF symbol
Export Development CanadaCanadaNorth America Export credit agency 84,900 Committed20210709Jul, 2021
FMONetherlandsEuropeDevelopment bank 8,544 Disclosed20210319Mar, 2021PDF symbol
Fifth Third BankUnited StatesNorth AmericaCommercial bank 205,000 Committed20210323Mar, 2021
FinDev CanadaCanadaNorth AmericaDevelopment bank 181 Committed20210301Mar, 2021
FirstRand Group Ltd.South AfricaAfricaFinancial services group 111,000 Committed20190701Jul, 2019
Freie Gemeinschaftsbank Genossenschaft*SwitzerlandEuropeCommercial bank 375 Committed20210219Feb, 2021
GLS Bank*GermanyEuropeCommercial bank 7,778 Committed20190301Mar, 2019
Grupo BancolombiaColombiaLatin AmericaCommercial bank 67,000 Committed20200601Jun, 2020
HSBC Holdings PLCUnited KingdomEuropeCommercial bank 2,984,164 Committed20210302Mar, 2021
Hamburg Commercial Bank AGGermanyEuropeCommercial bank 41,341 Committed20210618Jun, 2021
Hannon ArmstrongUnited StatesNorth AmericaCommercial bank 6,200 Committed20200901Sep, 2020
Hanwha Asset ManagementRepublic of KoreaAsia-PacificAsset owner/managers 84,500 Committed20210621Jun, 2021
Industrial Bank of KoreaRepublic of KoreaAsia-PacificCommercial bank 350,912 Committed20210329Mar, 2021
International Business of Federated HermesUnited KingdomEuropeAsset owner/managers 605,800 Committed20200901Sep, 2020
Invest - NLNetherlandsEuropeInvestment bank 1,700 Committed20200801Aug, 2020
InvestecSouth AfricaAfricaInvestment bank 63,100 Committed20200501May, 2020
Investec plcUnited KingdomEuropeInvestment bank 63,100 Committed20200801Aug, 2020
Invoice Cash IFN SARomaniaEuropeAsset owner/managers 20 Committed20210106Jan, 2021
Islandsbanki hf.IcelandEuropeCommercial bank 9,400 Committed20201001Oct, 2020
Itaú UnibancoBrazilLatin AmericaCommercial bank 388,500 Disclosed20210412Apr, 2021PDF symbol
KB Financial GroupRepublic of KoreaAsia-PacificFinancial services group 561,331 Disclosed20210607Jun, 2021PDF symbol
KBC GroupBelgiumEuropeFinancial services group 325,116 Disclosed20210318Mar, 2021PDF symbol
KCB Bank Kenya LimitedKenyaAfricaCommercial bank 7,013 Committed20190801Aug, 2019
LAPO Microfinance Bank Limited*NigeriaAfricaCommercial bank 189 Committed20190301Mar, 2019
LGT Private BankingLiechtensteinEuropeCommercial bank 179,000 Committed20210527May, 2021
LandsbankinnIcelandEuropeCommercial bank 14,689 Disclosed20210611Jun, 2021PDF symbol
Lloyds Banking GroupUnited KingdomEuropeFinancial services group 1,079,625 Disclosed20210407Apr, 2021PDF symbol
Luminor Bank ASEstoniaEuropeCommercial bank 16 Committed20210709Jul, 2021
MNNetherlandsEuropeAsset owner/managers 148,921 Disclosed20200501May, 2020PDF symbol
MagNet Hungarian Community Bank*HungaryEuropeCommercial bank 419 Committed20190301Mar, 2019
Merkur Cooperative Bank*DenmarkEuropeCommercial bank 555 Committed20190301Mar, 2019
Mizuho Financial Group, Inc.JapanAsia-PacificFinancial services group 2,037,447 Disclosed20210617Jun, 2021PDF symbol
Morgan StanleyUnited StatesNorth AmericaInvestment bank 947,795 Committed20200701Jul, 2020
Münchener Verein VersicherungGermanyEuropeInsurance 9,000 Committed20210630Jun, 2021
NATIONAL-BANK AGGermanyEuropeCommercial bank 10,700 Committed20210624Jun, 2021
NIBC Holding N.V.NetherlandsEuropeCommercial bank 21,500 Disclosed20200701Jul, 2020PDF symbol
NMB Bank*NepalAsia-PacificCommercial bank 945 Committed20190301Mar, 2019
NN GroupNetherlandsEuropeInsurance 230,000 Disclosed20210311Mar, 2021PDF symbol
NWBNetherlandsEuropePromotional bank 95,900 Disclosed20210323Mar, 2021PDF symbol
Nabil BankNepalAsia-PacificCommercial bank 1,552 Committed20210125Jan, 2021
NatWest GroupUnited KingdomEuropeCommercial bank 998,900 Disclosed20210219Feb, 2021PDF symbol
National Bank of CanadaCanadaNorth AmericaCommercial bank 315,000 Committed20210420Apr, 2021
Nationwide Building SocietyUnited KingdomEuropeCommercial bank 323,540 Disclosed20210520May, 2021PDF symbol
Natural Capital Investment Fund, Inc.United StatesNorth AmericaDevelopment bank 60 Committed20210614Jun, 2021
Nissay Asset Management CorporationJapanAsia-PacificAsset owner/managers 280,000 Committed20210629Jun, 2021
Nordea Bank AbpFinlandEuropeCommercial bank 670,000 Committed20201216Dec, 2020
Opportunity Bank Serbia*SerbiaEuropeCommercial bank 146 Committed20190301Mar, 2019
PIDG - The Private Infrastructure Development Group LtdUnited KingdomEuropeDevelopment bank 1,437 Committed20210223Feb, 2021
PNC Financial ServicesUnited StatesNorth AmericaCommercial bank 791,000 Committed20210407Apr, 2021
Phoenix GroupUnited KingdomEuropeInsurance 430,000 Committed20210521May, 2021
PostFinance AGSwitzerlandEuropeCommercial bank 86,800 Committed20210428Apr, 2021
ProdubancoEcuadorLatin AmericaCommercial bank 4,769 Committed20190901Sep, 2019
RabobankNetherlandsEuropeCommercial bank 676,374 Disclosed20200901Sep, 2020PDF symbol
Raiffeisen Switzerland CooperativeSwitzerlandEuropeCommercial bank 256,600 Committed20201218Dec, 2020
Raise Green, Inc.United StatesNorth AmericaAsset owner/managers 3 Committed20210622Jun, 2021
RobecoNetherlandsEuropeAsset owner/managers 191,306 Disclosed20210428Apr, 2021PDF symbol
Royal Bank of CanadaCanadaNorth AmericaCommercial bank 1,200,000 Committed20210225Feb, 2021
SAC Apoyo Integral, S.A.*El SalvadorLatin AmericaCommercial bank 143 Committed20190301Mar, 2019
Scotiabank (The Bank of Nova Scotia)CanadaNorth AmericaCommercial bank 853,000 Committed20210324Mar, 2021
Self-Help Credit Union and Ventures FundUnited StatesNorth AmericaCommercial bank 2,700 Committed20190901Sep, 2019
Shinhan Financial GroupRepublic of KoreaAsia-PacificFinancial services group 494,800 Committed20201101Nov, 2020
SpareBank 1 ØstlandetNorwayEuropeCommercial bank 15,000 Disclosed20210303Mar, 2021PDF symbol
Stichting Pensioenfonds Metaal en Techniek (PMT)**NetherlandsEuropeAsset owner/managers 90,719 Disclosed20200501May, 2020PDF symbol
Stichting Pensioenfonds van de Metalektro (PME)**NetherlandsEuropeAsset owner/managers 55,857 Disclosed20200501May, 2020PDF symbol
Sunrise Banks*United StatesNorth AmericaCommercial bank 1,132 Committed20190301Mar, 2019
TD Bank GroupCanadaNorth AmericaCommercial bank 1,265,962 Committed20201101Nov, 2020
TSB Bank PlcUnited KingdomEuropeCommercial bank 56 Committed20210617Jun, 2021
Triodos Bank*NetherlandsEuropeCommercial bank 17,793 Disclosed20210318Mar, 2021PDF symbol
UmweltBank*GermanyEuropeCommercial bank 4,235 Disclosed20200401Apr, 2020PDF symbol
VSECU*United StatesNorth AmericaCommercial bank 1,118 Committed20190301Mar, 2019
Van Lanschot KempenNetherlandsEuropeAsset owner/managers 92,789 Disclosed20210225Feb, 2021PDF symbol
Vancity*CanadaNorth AmericaCommercial bank 27,249 Disclosed20210506May, 2021PDF symbol
Verity Credit Union*United StatesNorth AmericaCommercial bank 587 Committed20190301Mar, 2019
Vermont Community Loan FundUnited StatesNorth AmericaDevelopment bank 43 Disclosed20201201Dec, 2020PDF symbol
Virgin Money UK PLCUnited KingdomEuropeCommercial bank 109,118 Committed20201101Nov, 2020
Visión Banco*ParaguayLatin AmericaCommercial bank 1,156 Committed20190301Mar, 2019
XacBank*MongoliaAsia-PacificCommercial bank 1,174 Committed20190301Mar, 2019
a.s.r.NetherlandsEuropeInsurance 67,587 Disclosed20210315Mar, 2021PDF symbol
bunqNetherlandsEuropeCommercial bank 1,000 Disclosed20210504May, 2021PDF symbol
Total 144 institutions Total financial assets: $ 43.9 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.
Deutsche Kreditbank AG is part of BayernLB. Assets of DKB 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.