News & media Cordiant steps up commitment to climate best practices; joins the Partnership for Carbon Accounting Financials (PCAF)
23 February 2023: Cordiant Capital, the specialist global infrastructure and real assets manager, is pleased to announce that it has joined the Partnership for Carbon Accounting Financials (‘PCAF’), a voluntary and industry-led collaboration between financial institutions worldwide that aims to develop a harmonised global standard to measure and disclose the greenhouse gas (GHG) emissions financed by loans and investments.
By joining PCAF, Cordiant is declaring its commitment to measure and disclose the GHG emissions associated with its portfolio investments and financial products within a three-year period, using the jointly developed GHG accounting methodologies in support of Cordiant’s goal to align its portfolio with the Paris Climate Agreement.
Lori Trotter, Cordiant’s Head of ESG & Impact Investing, said: “Cordiant has always sought to meet industry best practices and to integrate a strong ESG overlay into our investment process. By joining PCAF, we aim to strengthen our own performance and reporting capabilities to the benefit of both Cordiant and our investors but also to encourage others in the financial sector to adopt uniform GHG accounting standards and target setting on a larger and mainstream scale.”
PCAF’s membership includes over 350 financial institutions from a broad range of banks and investors from Europe, North America, Latin America, Africa and Asia Pacific. After launching globally in 2019, PCAF members’ total financial assets currently value over $87 trillion.
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About the Partnership for Carbon Accounting Financials (PCAF)
The Partnership for Carbon Accounting Financials (PCAF) was launched in Europe in 2015 and globally in September 2019. Currently, more than 350 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/
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