UTRECHT,
Netherlands and NEW
YORK, Feb. 28, 2024 /PRNewswire/ -- The
Partnership for Carbon Accounting Financials (PCAF) and S&P
Global Sustainable1 announced today that S&P Global
Sustainable1 has been named Principal Founding Data Partner to
PCAF's industry-led initiative standardizing greenhouse gas (GHG)
accounting.
As financial institutions increasingly look to report the
emissions associated with their financial activity, one of the
greatest challenges is the scarcity of high-quality data and lack
of standardization across the existing reporting processes. In
recognition of this critical data gap in climate reporting, PCAF
and S&P Global Sustainable1 have partnered to help increase
transparency and comparability of emissions data disclosure across
the international financial system.
The PCAF Standard, now widely adopted by financial institutions
worldwide, is a cornerstone of the sector's decarbonization
process; PCAF continues to develop robust methodologies for GHG
accounting across different sectors and asset classes to support
financial institutions in this effort. Going forward, S&P
Global Sustainable1 will support PCAF through its diverse set of
sustainability data, research, and analytics.
S&P Global's businesses bring their expertise in empowering
firms with more transparent and comprehensive data to support
firms' comprehensive disclosures – crucial for organizations aiming
to meet evolving reporting requirements and manage their
climate-related risks.
Angélica Afanador, Executive Director of PCAF
stated, "Our collaboration with S&P Global represents
a significant step forward in our efforts to standardize emissions
measurement and reporting across the financial sector. By sharing
our resources and expertise with this industry-leading
organization, we aim to elevate transparency and comparability
across the international financial sector."
Chris Heusler, President of
S&P Global Sustaianble1 added, "As the financial
sector sets ambitious emissions reporting targets, access to
reliable high-quality data is crucial in helping them achieve their
climate goals. We are deeply committed to accelerating progress and
believe meaningful collaboration is key to success. PCAF continues
to work towards establishing greater accountability in the GHG
accounting space and we look forward to supporting the initiative
in these efforts."
About PCAF
The Partnership for Carbon Accounting Financials (PCAF) was
launched globally in September 2019.
Currently, more than 460 financial institutions have subscribed to
the PCAF initiative. PCAF participants work to develop the Global
GHG Accounting and Reporting Standard for the Financial Industry to
measure and disclose the greenhouse gas emissions associated with
their financial activities. By doing so, PCAF participants take an
important step to assess climate-related risks and develop
effective strategies to decarbonize our society. For more
information see https://carbonaccountingfinancials.com/
About S&P Global Sustainable1
S&P Global Sustainable1 is the central source for
sustainability intelligence from S&P Global. Sustainable1
matches customers with sustainability products, insights and
solutions from across S&P Global's divisions to help meet their
unique needs. Our comprehensive coverage across global markets
combined with in-depth sustainability intelligence provides
financial institutions, corporations and governments with expansive
insight on business risk, opportunity, and impact as we work
towards a sustainable future. Our data and well-informed point of
view on critical topics like energy transition, climate resilience,
positive impact and sustainable finance allow us to go deep on the
details that define the big picture so customers can make decisions
with conviction.
About S&P Global
S&P Global (NYSE: SPGI) is the world's foremost
provider of credit ratings, benchmarks and analytics in the global
capital and commodity markets, offering ESG solutions, deep data
and insights on critical economic, market and business factors.
We've been providing essential intelligence that unlocks
opportunity, fosters growth and accelerates progress for more than
160 years. Our divisions include S&P Global Ratings, S&P
Global Market Intelligence, S&P Dow Jones Indices and S&P
Global Platts.
Media Contact
Raymond McConville
raymond.mcconville@spglobal.com
(917) 865-2692
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SOURCE S&P Global Sustainable1