Based on PCAF measurement for financed emissions using an attribution approach based on Enterprise Value. Registered No. Financed emissions are often the most significant part of a financial institutions GHG emissions inventory. It provides sector-specific methodologies and guidance for setting science-based targets that show organisations how quickly they need to reduce their GHG emissions in order to reach net zero by 2050. Therefore, the total financial assets of the group of institutions in the table do not count the assets of PMT and PME, as these are already counted in the assets of MN.ASN Bank is part of de Volksbank. This commitment is in addition to the bank's 2021 targets in four other carbon-intensive sectors and the decision to stop financing coal companies. This does not exclude any duty or liability that Schroders has to its customers under any regulatory system. A Management Quality score using 19 indicators, ranging from acknowledgement of climate change, to alignment of lobbying activity to the goals of the Paris Agreement, each company is graded from unaware (0) to strategic assessment (4). USA, Verdantix Ltd It is not as prescriptive as the NZAOA in its target-setting requirements since it does not mandate a percentage reduction in portfolio emissions. Topic: greenhouse gas emissions accounting, Signatories/ supporting organisations: >250 signatories. Supporting clients as they define clear pathways towards meeting the goals of the Paris Agreement on Climate Change forms a core element of Deutsche Banks sustainability strategy. Measuring financed emissions is the starting point to manage risk and identify opportunities associated with greenhouse gas emissions. Achmea Investment Management is aware of the important role thatthe investment community plays in combatting climate change and achieving the ambitious objectives of the energy transition. The metrics in the Disclosure Framework are published by the focus companies themselves and aggregated by the Transition Pathway Initiative (TPI), whilst different elements of the Alignment Assessment are performed by the different data providers that support the initiative. The Global Core Team develops and writes the Standard. Case Postale 2075 CH-1211, Geneva 1 Banks or Fintechs Who will be shaping the future of the financial industry? PCAF developed the Strategic Framework for Paris Alignmentto help financial institutions understand the process of Paris alignment and navigate through the cluster of climate initiatives tounderstand their purpose, focus, and role ineach step of the journey. Moving Beyond Climate Disclosure and Looking into Nature Disclosure | Watch recording | 329 financial institutions are already taking action. Ask what the bank is doing to measure off- With that knowledge, we now promote mortgages that incentivize customers to take energy efficiency measures. Read about the Global GHG Accounting & Reporting Standard for the Financial Industry, best practices, and upcoming events. PCAFAvoided EmissionsCO 2 CO 2 Climate action like that is not only good for business - but is a duty to our clients, the planet, and to future generations., Kees van Dijkhuizen, former CEO, ABN AMRO. endobj <> Source: GABV (2019),Climate Change Commitment, 4 March. Sweep Delivers A Modular And Flexible Carbon Management Platform GHG Emissions t CO2e/$ million Illustrative example assumes allocating 5% of capital into a high emission business (e.g. Bain We accept our responsibility to engage with the companies that we invest in and are committed to support measures to enable clarity about the footprint of our investments. Purpose: to drive the development of industry best practice around net zero through its integration into its members investment mandates. The ability to calculate facilitated emissions will allow banks to calculate more accurate Scope 3 emission footprints and produce more transparent and detailed plans on how they aim to reach net-zero emissions by 2050. Maison de la Paix The industry-led Partnership for Carbon Accounting Financials (PCAF) has issued guidance for the financial sector that refers to best practice Carbon Accounting standards based on the well-established GHG Protocol in this regard. Within Deutsche Banks corporate loan portfolio, financed emissions are concentrated in a few sectors and a very limited number of companies. Kim leads the Verdantix ESG & Sustainability practice, addressing business challenges and priorities in ESG and sustainability through technology. 320+ Financial institutions - $ 81 + Trillion in total assets. Based on the 2022 Verdantix Green Quadrant benchmark of , This Tech Roadmap report clarifies the business value, pace of innovation and maturity of 14 digital GHG emissions management technologies. NewYork, NY10017 12E.49thStreet x][sr~W^RED sMu ,^====as>>/BBH-E]i*\v+}Ho(~+?GOWWgwsZmSK ~U.+Gvu^nWkS|;g"qJ.wjeI?m)*jK-U V?ND (E]J-bvqXEf~Y/^R /K%,b~wWOp/ Her thesis project looked at biodiversity-friendly pest management decisions in communal gardens, which involved a collaboration with the Royal Borough of Kensington and Chelsea. This release contains forward-looking statements. These technologies are evaluated based on their maturity in . Rogier Krens, CIO Achmea Investment Management. 4 -most.co.uk info@4 most.co.uk The real challenge is collecting the data to accurately calculate the portfolio emissions baseline. The burgeoning number of such frameworks can be off-putting, especially when coupled with excess use of acronyms. OneTrust Acquires Planetly And Gains Traction Providing Carbon Management Software To A Variety of Industries Deutsche Bank re-affirms its commitment to publishing 2050 net zero targets for key carbon intensive portfolios, together with intermediate targets for 2030, by the end of 2022. PCAFPCAF GHG (financed emissions) For more information on what cookies we use and how they affect you, please visit our Cookie policy. Weblink: Paris Aligned Investment Initiative IIGCC, Signatories/ supporting organisations: 700 institutional investors. Weblink: Home - Transition Pathway Initiative. Summary: established in 2020 following the launch of the NZAOA (see above), NZAMI provides a consistent approach for investment managers to establish a net zero commitment. It is also important to consider that offsets are not permitted as part of the target setting methodology. For all other users, this content is issued by Schroder Investment Management Limited, 1 London Wall Place, London EC2Y 5AU. utility) that has ~500 tonnesof CO2e/$ million. 10 G Street NE, Suite 800 Summary: Established in 2015 following the Paris Agreement, the framework aims to provide a consistent approach for companies to integrate the consideration of climate-related risks and opportunities into their business models. Summary: Established by a collaboration of investor networks, the CA100+ provides investors with insight into how the worlds largest carbon emitters are tackling climate change. Due to its history, the CDP now has one of the most comprehensive environmental datasets globally. Our participation in PCAF has been a valuable opportunityto learn and at the same time be at the forefront of carbon footprinting for financial institutions. Tower49 We are on track in embedding carbon intensity in Deutsche Banks reporting, governance and risk management processes.. In the quest to solve it, firms try to drive change guided by a plethora of frameworks and initiatives. It is also a phenomenally complex problem. By using the International Energy Agency (IEA)s Net Zero scenario (NZE) as its benchmark, Deutsche Bank is developing net zero pathways for its overall loan portfolio, while concentrating on four particularly energy-intensive sectors driven by the following specific metrics: Additionally, the bank will expand its disclosures beyond its loan book into other on- and off-balance sheet activities such as capital markets financing and total committed facilities. Using the standards established by the Partnership for Carbon Accounting Financials, an industry-wide initiative (PCAF Standards), Scope 1 and 2 financed emissions of the global corporate industry loan book were calculated at 30.8 This commitment is in addition to the bank's 2021 targets in four other carbon-intensive sectors and the decision to stop financing coal companies. Important Information: This communication is marketing material. We deliver on this mission by conducting in-depth research on the full range of services and technologies required to succeed with net zero strategies. (p.65) "Banks should disclose the appropriate financed-emissions metric, based on the Partnership for Carbon Accounting Financials (PCAFs) methodology and weighted Research coverage includes software application benchmarks, service provider assessments, market size and forecast models, a global survey of 400 heads of EHS and best practices studies. Currently, the standard covers the calculation of financed emissions across: Listed equity and corporate bonds; Business loans and unlisted equity; Project finance; Commercial real estate; Mortgages, and; Motor vehicle loans; Given the complexities, PCAF are still consulting the industry regarding the treatment of emissions from sovereign bonds. PCAF is a global cooperation between financial institutions to harmonise the measurement of and reporting on financed emissions. Insight: as the framework does not provide a target-setting/decarbonisation calculation methodology, the robustness of investor commitments is dependent on companies establishing targets using one of the three aforementioned protocols. How cloud technology is silently revolutionising our economy. Explore Footprint allows you to gain deep insights into your carbon footprint through a series of analysis that provides a granular view of your carbon footprint helping you make informed decarbonization decisions.See how your carbon footprint trends over time by different breakdowns like emissions intensity, scope, assets, people activities, financed emissions, There is a risk of confusion around what each framework seeks to achieve, as well as duplication. PepsiCo also measures scope 3 emissions, and is striving to reduce its absolute indirect value chain (scope 3) by 40% by 2030 (against a 2015 baseline).Part of their climate mitigation strategy includes developing efficient and alternative solutions in transportation and distribution, as well as shifting to renewable electricity and fuels in manufacturing and fleet. AI in banking and business what can it do and who stands to gain? The first edition of the CorporateStandard, published in 2001, has been updated with additional guidance that clarifies how companies can measure emissions from electricity and other energy purchases, and account for emissions from throughout their value chains. +44 (0)203 371 6784. PCAF 3 GHGFinanced Emissions 3 PCAF: Partnership for Carbon Accounting Financials. Summary: starting in the Netherlands in 2015, the standard became global in 2019 and provides a consistent methodology for the calculation of financed emissions by financial institutions, from banks to pension funds. PepsiCo also measures scope 3 emissions, and is striving to reduce its absolute indirect value chain (scope 3) by 40% by 2030 (against a 2015 baseline).Part of their climate mitigation strategy includes developing efficient and alternative solutions in transportation and distribution, as well as shifting to renewable electricity and fuels in manufacturing and fleet.
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