Nordic banking group Nordea recently announced it has joined Partnership for Carbon Accounting Financials (PCAF) in order to strengthen its work to track and measure its climate change risks and impacts.
“Banks play a crucial role in combatting the impacts of climate change and enabling the transition to a low-carbon economy. Nordea announces today that it has become a member of PCAF, a global partnership of financial institutions that work together to develop and implement a harmonised approach to assessing and disclosing the greenhouse gas (GHG) emissions associated with their loans and investments.”
Ylva Hannestad, Deputy Head of Group Sustainable Finance, further stated that he and his team are committed to working together with Nordea customers to align with the climate goals of the Paris Agreement. Hannestad added:
“PCAF will provide us with an important building block in delivering on this commitment, namely a consistent and standardised carbon accounting method to measure our financed emissions.”
Nordea claims to be the largest financial services group in the Nordic region and one of the biggest banks in Europe. The banking group wants to make a real difference – for its customers and for the communities in which it operates – by sharing its expertise based on 200 years in the banking business.