Masterclass: Delving into PCAF
Climate Measurement and Reporting for Financial Institutions
The LSFI organised in April an in-person masterclass to explore the Partnership for Carbon Accounting Financials (PCAF) standard. The masterclass provided a comprehensive introduction to PCAF combined with guidance on its implementation. It also featured insights from financial professionals who shared real case studies regarding how they use the PCAF standard.
The LSFI organised this masterclass following the work of the LSFI Working Group on Climate Measurement and Reporting that identified and assessed climate-related tools that the Luxembourg financial sector could use to support its journey to net zero.
In particular, the working group looked at the key steps financial institutions need to follow to reach net zero and assessed a set of tools and methodologies that can help in this regard. In particular the tools analysed were: ACT, PACTA, PCAF, SBTi, TPI. Following this analysis, the working group recommended the Luxembourg financial sector to use PCAF as a first priority and SBTi as a second priority.
About PCAF
PCAF is an industry-led initiative developed in 2015, aimed at creating a standard for measuring carbon emissions associated with financial activities. It facilitates the alignment of the financial industry with the Paris Agreement Goals by enabling comprehensive GHG accounting.
As per the LSFI working group analysis, PCAF is the only tool from those assessed that supports institutions on the first necessary step of the decarbonisation journey, measuring emissions, while also helping institutions to take actions and disclose.
More information about PCAF
If you would like to learn more about PCAF, access below the presentation used during the Masterclass „Delving into PCAF“, which provides further insights into Partnership for Carbon Accounting Financials (PCAF) standard.
You can download the presentation here.
