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Quantifying financed emissions is a tangible first step toward building trust that financial institutions are integrating climate change into their core business of providing and allocating capital. Additionally, financed emissions could be used as a proxy for transition risk from climate change.
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Jan 5, 2024 · Financed emissions are emissions generated as a result of financial services, investments, and lending by investors and companies that provide financial services. They fall under scope 3, category 15 from the Greenhouse Gas Protocol (GHGP).
Financial services companies are well represented in the journey to net-zero carbon emissions. According to the United Nations,1 more than 160 firms with $70 trillion in assets are now committed to achieving net zero by 2050.
Dec 14, 2022 · PCAF signatories work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions of their loans, investments, insurance liabilities and other financial products and services.
Financial institutions' impact on climate change goes far beyond their own operations. While their direct emissions are relatively small, a new report shows they're indirectly responsible for 700 times more greenhouse gases through the investments they make.
Feb 29, 2024 · Many UN agencies, programs, and missions receive crucial funding from the United States. The Trump administration sharply reduced funding to some UN agencies, but President Biden has largely ...
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Why do financed emissions matter?
Dec 20, 2022 · The measurement of financed and facilitated emissions is a complex and fast-moving area. These emissions represent key metrics for commercial banks, insurance companies and asset managers (together, ‘financial institutions’).
