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PCAF launches public consultation on Global GHG Accounting and Reporting Standard for the Insurance Industry Progress Report

PCAF launches public consultation on Global GHG Accounting and Reporting Standard for the Insurance Industry Progress Report

The consultation will be open until 26 August 2022.

July 14, 2022 – Utrecht, Netherlands – The Partnership for Carbon Accounting Financials (PCAF) today launched a public consultation on the Global GHG Accounting and Reporting Standard for the Insurance Industry Progress Report.

                    Download the progress report and submit your feedback

Given the increasing demand by the insurance industry and other stakeholders for tools to measure and report greenhouse gas (GHG) emissions, there is a need to develop a set of global, standardized methodologies for measuring and disclosing the GHG emissions associated with insurance and reinsurance underwriting portfolios for accounting purposes.

Following the consultation on the Insurance-Associated Emissions Scoping Document in March, the PCAF Insurance-Associated Emissions Working Group has worked intensively to finalize the Progress Report on Reporting Insurance-Associated Emissions.

The Global GHG Accounting and Reporting Standard for the Insurance Industry Progress Report will cover topics including:

  • Attribution factor proposals for commercial lines insurance
  • Attribution factor proposals for personal motor lines
  • Insurance-associated emissions data and data quality
  • Reporting methodology, requirements, recommendations, and metrics

PCAF invites all interested stakeholders to provide feedback on the Global GHG Accounting and Reporting Standard for the Insurance Industry Progress Report in a public consultation starting 14 July 14 and running until 26 August. The Global GHG Accounting and Reporting Standard for the Insurance Industry Progress Report may be accessed here. Responses to the public consultation are collected via the online survey only.

                    Download the progress report and submit your feedback

About the Partnership for Carbon Accounting Financials (PCAF)

The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 290 financial institutions have subscribed to the PCAF initiative. PCAF participants work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions of their loans and investments. By doing so, PCAF participants take an important step to assess climate-related risks, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonize our society. For more information see https://carbonaccountingfinancials.com/