Khaberni - Capital Bank has announced its joining the Partnership for Carbon Accounting Financials (PCAF), a global initiative that supports financial institutions in measuring and disclosing greenhouse gas emissions associated with their financing and investment activities, contributing to enhanced transparency and the development of sustainable business practices in the financial sector.
This membership reflects Capital Bank's commitment to sustainability within its strategy and its role in supporting the transition to a more sustainable economy, while also enhancing the bank's ability to measure financed emissions linked to its financial portfolio, as financed emission measurement is a key element in enhancing understanding of the climate impact of the bank's financial portfolio, and supporting effective risk and opportunity management associated with climate change, enabling the bank to build a clearer and more reliable vision of its portfolio's carbon footprint, and supporting its efforts to enhance transparency and disclosure in this area.
By adopting methodologies recognized internationally by PCAF, Capital Bank will work on developing its capabilities in collecting and analyzing climate-related data and improving its quality, ensuring a more consistent and accurate assessment of emissions related to its financing and investment activities. These data will support more enlightened financial decision-making, and guide financing towards projects and activities that align with the bank's environmental goals and long-term sustainability priorities.
Capital Bank also expresses its pride in joining this global initiative that embodies its steadfast commitment to supporting sustainability efforts and reducing the carbon footprint associated with its financing activities, noting that adopting PCAF methodologies will enhance its ability to collect and analyze climate data more accurately, contributing to building a clearer and more reliable picture of the carbon footprint of its financial portfolio.
The bank added that this will support the decision-making process and enable it to direct its financings towards projects and activities that align with its environmental goals and long-term sustainability priorities.
