Cambridge & Counties Bank has become a member of the Partnership for Carbon Accounting Financials (PCAF), joining a global network of financial institutions aiming to standardise the measurement and disclosure of greenhouse gas (GHG) emissions financed by their loans and investments. This initiative aligns with the goals of the Paris Agreement from COP21 and seeks to make GHG accounting a norm in the financial industry.
PCAF, established in 2015, has grown to include approximately 450 financial institutions across six continents, demonstrating its expanding influence in the UK, Europe, and globally.
Through PCAF, Cambridge & Counties Bank will collaborate with other members to refine and adopt uniform methods for evaluating and reporting GHG emissions associated with their financial activities.
This move is part of Cambridge & Counties Bank’s broader commitment to environmental, social, and governance (ESG) principles, following on from achieving B Corp Certification last year, which acknowledges the bank’s high standards of performance, accountability, and transparency.
Donald Kerr, the CEO of Cambridge & Counties Bank, remarked on the significance of joining PCAF, “PCAF membership is an important next step for us as we look to play a significant role in the drive towards greater sustainability in the UK banking sector.”
