Punjab National Bank Joins Partnership for Carbon Accounting Financials (PCAF)
| Key Points | Details |
|---|---|
| Why in News | PNB joined the Partnership for Carbon Accounting Financials (PCAF) to enhance GHG emissions accounting practices. |
| First PCAF Disclosure | FY 2023-24 in the Business Responsibility and Sustainability Report (BRSR) using the PCAF Standard. |
| Alignment with RBI | RBI mandates banks to report climate risks in governance, strategy, and risk management by FY 2025-26, and metrics and targets by FY 2027-28. |
| Global Network | PNB is now part of an international network of financial institutions committed to robust GHG accounting practices. |
| Benefits of PCAF | Access to technical support, country-specific emission data, training, and peer knowledge sharing through global working groups, workshops, and webinars. |
| PNB Overview | Founded in 1894, PNB is India's second-largest public sector bank. |
| India-Specific Insights | PCAF offers tailored data and methodologies for India's emissions context, supporting localized climate action strategies. |