22 June 2023

Sustainable Transformation - AKA joins Partnership for Carbon Accounting Financials

AKA is happy to announce, that it has officially joined the initiative ‘Partnership for Carbon Accounting Financials’ (PCAF). Within the scope of its PCAF membership, AKA will undertake to achieve transparency in its financed emissions and pursue the reduction of those emissions in accordance with the international goals for greenhouse gas reduction.

„For our shareholders, customers, and investors it is important, that they can count on us as a reliable long-term partner. By joining an internationally accepted initiative as PCAF to practice and support the disclosure of our financed CO2 emissions, we are laying the groundwork for a science based and transparent regular reporting.“
 
Marck Wengrzik (CEO)

PCAF is an international alliance of nearly 400 financial institutions with the common goal to develop uniform standards for collecting, measuring and reporting of greenhouse gas emissions that are associated with financing activities. The collective usage of methods and standards enables financial institutions to report and compare financed CO2 emissions in a comparable way. On this basis they can take effective measures for emissions reduction. Furthermore, emissions balance sheets are disclosed which is a great contribution to transparency and responsibility in the financial sector.

Therefore, AKA has joined a strong network for the promotion of environmentally friendly practices within the financial sector. The cooperation within the members of the network is viewed as an integral part to reach common sustainability goals.

„We are pleased, that our stakeholders can enjoy more transparency regarding financed greenhouse gas emissions in our loan book in the future."
 
Jens-Christian Meier (Head of Treasury)

In AKA’s risk management, the evaluation of environmental, social, and governance (ESG) factors and the resulting risks already play a key role besides the economic risk assessment. Thus, the accession to PCAF is a consequent step for AKA to integrate sustainability deeper in the processes of credit approvals and risk analysis.

With AKA’s commitment to join PCAF, AKA has pledged to disclose a report about their financed emissions within a period of three years using jointly developed GHG accounting methodologies of PCAF.

For further information regarding AKA’s participation in the PCAF initiative, please contact:

Dr. Michael Stopfkuchen

Consultant

ESG Innovation & Management

+49 (0) 69-29891 - 00