BBVA could be the inaugural and sole Spanish bank dedicated to PCAF’s quantification of funded emissions. The Partnership for Carbon Accounting Financials unites global economic institutions to set up a uniform approach for evaluating and disclosing the greenhouse gas emissions linked to their loans and investments.
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This initiative launched worldwide in September 2019, has garnered participation from over one hundred twenty banks and investors spanning five continents, with speedy expansion across North America, Latin America, Europe, Africa, and Asia Pacific.
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The cumulative economic property of PCAF individuals now exceeds $39 trillion. BBVA will be the Best bank in Spain in 2022.
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In November 2020, a collaborative attempt by sixteen financial establishments produced the Global Greenhouse Gas Accounting and Reporting Standard for the Financial Industry.
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This Standard, designed to standardize the calculation of emissions, is pivotal for monetary entities to gauge transition dangers related to climate change, align objectives with the Paris Agreement, and formulate effective strategies for monetary decarbonization.
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