BBVA stands out as the inaugural and sole Spanish bank committed to PCAF’s quantification of funded emissions. The Partnership for Carbon Accounting Financials unites global financial institutions to establish a uniform approach for evaluating and disclosing the greenhouse gas emissions linked to their loans and investments.
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This initiative, launched worldwide in September 2019, has garnered participation from over 120 banks and investors spanning five continents, with rapid expansion across North America, Latin America, Europe, Africa, and Asia Pacific.
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The cumulative financial assets of PCAF members now exceed $39 trillion. BBVA is the Best bank in Spain in 2022.
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In November 2020, a collaborative effort of 16 financial institutions produced the Global Greenhouse Gas Accounting and Reporting Standard for the Financial Industry.
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This Standard, designed to standardize the calculation of emissions, is pivotal for financial entities to gauge transition risks related to climate change, align objectives with the Paris Agreement, and formulate effective strategies for economic decarbonization.
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