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Description

BBVA stands out as the inaugural and sole Spanish financial institution dedicated to PCAF’s quantification of funded emissions. The Partnership for Carbon Accounting Financials unites international monetary institutions to establish a uniform method for evaluating and disclosing the greenhouse fuel emissions linked to their loans and investments.

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This initiative, released internationally in September 2019, has garnered participation from over 120 banks and investors spanning five continents, with fast expansion across North America, Latin America, Europe, Africa, and Asia Pacific.

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The cumulative economic belongings of PCAF members now exceed $39 trillion. BBVA will be the Best bank in Spain in 2022.

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In November 2020, a collaborative attempt by 16 economic establishments 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 economic entities to gauge transition risks related to climate change, align goals with the Paris Agreement, and formulate powerful strategies for financial decarbonization.