Dark
Light

Bank al Etihad teams up with Partnership for Carbon Accounting Financials

1 min read
47 views


TLDR:

Bank al Etihad has joined the Partnership for Carbon Accounting Financials (PCAF) to measure and disclose its financed emissions, contributing to mitigating climate change in Jordan. This move aligns with global and local sustainability goals, enabling the bank to identify emission hotspots and take targeted actions to reduce climate-related risks.

Key Elements:

  • Bank al Etihad joins PCAF to measure and disclose financed emissions for sustainability and transparency.
  • This aligns with global goals like the Paris Agreement and Jordan’s NDCs for a low-carbon pathway.

Bank al Etihad, a prominent banking institution in Jordan, has recently become the first bank in the country to partner with the Partnership for Carbon Accounting Financials (PCAF) to enhance sustainability and transparency in the banking sector. Through this collaboration, the bank aims to accurately measure and disclose its financed emissions to better understand its impact on the environment and contribute to mitigating climate change.

Joining PCAF is part of Bank al Etihad’s climate transition plan, which includes aligning its practices with global sustainability goals like the Paris Agreement and local objectives outlined in Jordan’s NDCs and the Central Bank of Jordan’s Green Finance Strategy. By adopting PCAF’s methodology, the bank can assess and disclose the greenhouse gas emissions associated with its lending and investment portfolios in a standardized manner, enabling comparisons with other financial institutions.

Through this initiative, Bank al Etihad can identify emission hotspots within its portfolios, strengthen risk management strategies, and implement targeted actions to reduce climate-related transition risks. This underscores the bank’s commitment to environmental responsibility and supports its efforts towards a more sustainable future.


Previous Story

Your Daily Accounting Briefing – 2024-06-15

Next Story

Stitch Fix CFO Sarah Barkema Sells Majority of Stock Holdings

Latest from News

Docyt reveals AI bookkeeper, GARY

TLDR: Docyt has unveiled an AI bookkeeper named GARY, which automates manual processes and helps professionals complete month-end close in about 45 minutes. GARY