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Nordea joins the Partnership for Carbon Accounting Financials

Nordea joins the Partnership for Carbon Accounting Financials

Nordea takes an important step to further strengthen its work to track and measure its climate change risks and impacts by joining the industry-led Partnership for Carbon Accounting Financials (PCAF). This will support Nordea’s commitment to aligning its lending and investment portfolio to the climate goals of the Paris Agreement.

Finland, December 16, 2020 - Banks play a crucial role in combatting the impacts of climate change and enabling the transition to a low-carbon economy. Nordea announces today that it has become a member of PCAF, a global partnership of financial institutions that work together to develop and implement a harmonised approach to assessing and disclosing the greenhouse gas (GHG) emissions associated with their loans and investments.

"We are committed to working together with our customers to align with the climate goals of the Paris Agreement. PCAF will provide us with an important building block in delivering on this commitment, namely a consistent and standardised carbon accounting method to measure our financed emissions."

Ylva Hannestad, Deputy Head of Group Sustainable Finance, Nordea

More information on Nordea’s sustainability work can be found on nordea.com.

About PCAF

PCAF, launched globally in 2019, is a collaboration to standardise carbon accounting for the financial sector, enabling a harmonised approach to the assessment and disclosure of greenhouse gas emissions financed by loans and investments. It consists of 90 financial institutions worldwide representing almost USD 19 trillion in assets. PCAF participants take the first step required to assess climate-related risks, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonise our society. For more information see https://carbonaccountingfinancials.com/

For further information about Nordea:

Ylva Hannestad, Deputy Head of Group Sustainable Finance, +46 733577416

Group Communications, Group Communication, +358 104 168 023 or press@nordea.com