PCAF Surpasses 600 Signatories, Expanding Global Reach
Overview
The Partnership for Carbon Accounting Financials (PCAF) now includes over 600 financial institutions worldwide. The group continues to drive transparency and consistency in financed emissions reporting.
Photo by PCAF
Major Milestone for PCAF
PCAF has reached a new milestone with over 600 financial institutions now signed on. These signatories collectively represent more than $93 trillion in total assets. The announcement reflects growing momentum behind consistent, standardized accounting of financed greenhouse gas emissions across the global financial sector.
The latest institutions to join come from regions around the world, including the United States, the Netherlands, the United Kingdom, and India. This expansion underscores a shared commitment to improving emissions transparency in lending and investment portfolios.
Global Alignment on Carbon Accounting
PCAF was launched in 2015 by Dutch financial institutions and has since grown into a global initiative. It enables financial institutions to measure and disclose emissions linked to their loans and investments using a consistent framework. This work is crucial as financial institutions come under increasing pressure to manage and report climate-related risks. PCAF provides the methodologies that help firms align their reporting with broader net-zero targets and regulatory expectations.
Two PCAF Programs at Work:
The Accredited Partner Program: Helps financial institutions implement carbon accounting in practice. These partners provide technical expertise, tools, and services aligned with PCAF’s standards.
The Cross-Regional Working Groups: Work to Bring together financial institutions and technical experts to address region-specific challenges and exchange knowledge. This helps ensure that the PCAF standard remains both globally consistent and locally relevant.
Turning Commitments Into Action
Financial institutions are not just joining PCAF, they’re using its standards to reshape internal practices.
Siemens Financial Services is one such example. As part of its net-zero strategy, Siemens adopted the PCAF methodology to track and manage emissions linked to its finance portfolio. Working with Sustaira, Siemens implemented a digital platform that supports financed emissions accounting, enabling more consistent data management and better alignment with the PCAF standard.
The platform allows SFS to analyze emissions data across different asset classes, improving visibility and accountability. This approach is helping the company integrate sustainability into core financial operations, moving beyond reporting to actionable insights.
Looking Ahead
With support continuing to grow, PCAF plans to further develop its methodologies across asset classes and regions. Its global standard is helping banks, asset managers, and investors align with the decarbonization goals set out in frameworks like the Paris Agreement.
As the financial sector faces rising demands for climate accountability, PCAF’s role in enabling credible and comparable emissions data is more relevant than ever.
Bottom Line
PCAF’s expanding network signals strong global interest in transparent carbon accounting. With over 600 signatories, the initiative is setting the pace for climate-aligned finance worldwide.