260+ Financial institutions - $ 73 + Trillion in total assets

PCAF report launched at COP24

PCAF report launched at COP24

The latest PCAF report ‘Harmonising and implementing a carbon accounting approach for the financial sector’ was formally launched today, December 10th 2018, at the Climate Summit in Katowice for an audience of international stakeholders.

Director Strategy at FMO, Jorim Schraven, presented on behalf of the PCAF Group the latest PCAF report to Climate Envoy for the Kingdom of Netherlands, Marcel Beukeboom. The event took place after a panel discussion in the Benelux/EIB Pavilion COP24 in Katowice on aligning finance flows with the Paris goal.

FMO: ‘Common measurement standards like PCAF and globally accepted reporting rules and definitions are essential in the fight against climate change. They allow us to work together to bring the world to a solution on this topic.’
Marcel Beukeboom: ‘One year ago, in the margins of the One Planet Summit in Paris, I had the privilege to receive the result of two years of hard work: the report ‘Paving the way towards a harmonized Carbon Accounting Approach for the Financial Sector’. This report got a lot of (international) attention because it filled an existing gap. It provided the tools that could help those institutions that wanted to make their finance flows consistent with a pathway as meant in article 2.1c of the Paris Agreement.

However, with the publication of the report we could also witness the birth of the next excuse from those that cannot or do not want to change. They said the presented methodology is fine, but we now need an international standard. My answer to them, at the launch of this new PCAF Report, is that the PCAF methodology can be used irrespective of a global standard. Because it is a tool that is fit for its task.

A Dutch hammer can hit a nail on its head, just as an Australian or a Chinese one. Let PCAF be an inspiration for others to use this methodology, or to develop something similar. As long as we keep on hitting the nail on its head and hammer Paris home!’