The PCAF Europe team is formed by all financial institutions with headquarters in Europe that participate in PCAF, except those from the Netherlands, which have its own PCAF team (i.e. the PCAF Dutch team)
PCAF Europe is led by a regional chair, Mr. Tjeerd Krumpelman, Global head of Business Advisory, Reporting & Engagement at ABN AMRO, and member of the PCAF Steering Committee. Mr. Krumpelman is a prominent leader in the climate finance realm in Europe and has extensive experience in emissions accounting and reporting of financial portfolios.
The team enables peer-to-peer collaboration to share experiences and lessons learned among its members regarding the implementation of greenhouse gas (GHG) accounting methods in their portfolios. Team members will adopt the Global GHG Accounting and Reporting Standard and eventually develop bespoke local guides to facilitate application in different national contexts.
By measuring emissions financed by their loans and investments, members of PCAF Europe 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.
As the group grows and gains experience, national teams are also encouraged to be formed.
If your financial institution is interested in joining the PCAF Europe team, please contact the PCAF Secretariat.
In 2015, fourteen financial institutions from the Netherlands started collaborating to develop and implement greenhouse gas (GHG) accounting methodologies for eight asset classes in a harmonized manner. Since then, the group has been growing and produced two GHG accounting reports, one in 2017 and in 2018.
At the COP25 in Madrid, the PCAF Dutch group unveiled their third GHG accounting report. With updates and new methods, the group makes a significant contribution towards harmonizing the way financial institutions measure emissions financed by loans and investments.
New asset classes have been added to the methodology and new tools are available for the growing number of financial companies who want to use the PCAF methodology. Participating institutions in the Netherlands represent €2 trillion of assets under management, many of whom already publicly disclose the associated carbon footprint.
A Chinese version of the report (pdf, 10MB) is also available.
These are the Dutch financial institutions that collaborated within PCAF and produced the latest report:
PCAF UK was formed in October 2020 and aims to embrace and strengthen the global PCAF effort by bringing together UK financial institutions to collaboratively meet the challenges in measuring and reporting financed emissions both in the context of UK net zero commitments and international development efforts. Its 12-month workplan focuses on the residential property, agriculture and forestry sectors.
PCAF UK is chaired by the International Business of Federated Hermes. As of November 2020, members of PCAF UK include NatWest Group, Federated Hermes, Lloyds Banking Group, Nationwide, Investec, Triodos Bank, CDC Group, Ecology Building Society, Barclays and Virgin Money. Together, the group represents a total of over $4.5 trillion in financial assets through lending and investments. The group will be supported by Mark Carney in his capacity as COP26 advisor. The UK Department of Business, Energy, and Industrial Strategy, the Bank of England, and the Green Finance Institute will be observers.
Members of the PCAK UK Coalition: