ONE Bank joins Partnership for Carbon Accounting Financials

ONE Bank PLC (OBPLC) has joined the Partnership for Carbon Accounting Financials (PCAF) by signing a Commitment Letter recently to measure and disclose bank's financed emissions, says a statement.

Such partnership will assist the bank in measuring its financed emissions from loans and investments.

Consistent and comparable measurement of carbon emissions are critical to set strategies and track progress to achieve the Net Zero emission target by 2050 taken in line with Paris Agreement goals.

This partnership is also important to meet country's regulatory reporting requirements under IFRSS1 (Sustainability-related disclosures) and IFRS S2 (Climate Related disclosure).