6 May 2020 – Statistics Netherlands (CBS) measured the CO2 emissions associated with all mortgages at the request of six Dutch banks and one insurer. This is the first time a reliable and validated overview is provided of CO2 emissions from all households covered by the mortgage portfolios of these seven banks; ABN AMRO, De Volksbank, ASR Nederland, ING Bank, Rabobank, Triodos Bank and Van Lanschot.
These seven institutions are associated with the Partnership for Carbon Accounting Financials (PCAF). This is a global cooperation of financial institutions working on harmonised methods for measuring and disclosing the GHG emissions associated with their lending and investment activities. Gaining such insights is essential to better contribute to a more sustainable society.
The collaboration with CBS is unique. This is the first time that such accurate insight is generated in the CO2 emissions related to Dutch mortgages at this scale. An important point is that no privacy sensitive information has been exchanged; only data that was already available to CBS were used. Results are published at aggregated level, meaning they cannot be traced back to individual houses or households.
This collaboration also shows that when financial institutions decide to collaborate with government agencies on climate-related issues, they enable disclosure of more accurate data, yielding better insights. Data of higher quality ultimately allows better steering on the road to the Paris climate targets.
About the Partnership for Carbon Accounting Financials
In September 2019, the Partnership for Carbon Accounting Financials (PCAF) was launched globally. Currently, nearly 60 banks and investors have subscribed to the PCAF initiative. PCAF institutions work together to jointly develop the Global Carbon Accounting Standard for the financial industry to measure and disclose the greenhouse emissions of their loans and investments. By doing so, PCAF institutions take the first step required to assess climate-related risks, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonize our society. PCAF is organized by a Steering Committee comprised of representatives of ABN AMRO, Amalgamated Bank, ASN Bank, Global Alliance for Banking on Values (GABV) and Triodos Bank.