The PCAF Europe team is formed by all financial institutions with headquarters in Europe that participate in PCAF, except those from the Netherlands, which have its own PCAF team (i.e. PCAF Netherlands).
PCAF Europe is led by a regional chair, Mr. Tjeerd Krumpelman, Global head of Business Advisory, Reporting & Engagement at ABN AMRO, and member of the PCAF Steering Committee. Mr. Krumpelman is a prominent leader in the climate finance realm in Europe and has extensive experience in emissions accounting and reporting of financial portfolios.
The team enables peer-to-peer collaboration to share experiences and lessons learned among its members regarding the implementation of greenhouse gas (GHG) accounting methods in their portfolios. Team members will adopt the Global GHG Accounting and Reporting Standard and eventually develop bespoke local guides to facilitate application in different national contexts.
By measuring emissions financed by their loans and investments, members of PCAF Europe take the first step required to assess climate-related risks, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonize our society.
As the group grows and gains experience, national teams are also encouraged to be formed.
If your financial institution is interested in joining the PCAF Europe team, please contact the PCAF Secretariat.
In 2015, fourteen financial institutions from the Netherlands started collaborating to develop and implement greenhouse gas (GHG) accounting methodologies for various asset classes in a harmonized manner. Since then, the group has been growing and produced three GHG accounting reports, one in 2017, in 2018 and in 2019. The 2019 PCAF NL report was also translated into Chinese. (Chinese version of the 2019 report available here)
During the digital Round Table of Parliament on the Climate Commitment of the Financial Sector (Rondetafelgesprek Tweede Kamer Klimaatcommitment van de Financiële Sector), the PCAF Netherlands participants presented their fourth report. In this report, the twenty Dutch financial institutions provide an update on the progress made in implementing the PCAF Standard, showing examples on how they have been measuring their financed emissions.
By making their financed GHG emissions transparent, the PCAF Netherlands participants give concrete form to the commitment that virtually the entire Dutch financial industry has made to the Dutch climate agreement. Among other things, the industry promised to measure the climate impact of its loans and investments, to report on them and to develop concrete reduction targets.
PCAF Netherlands currently consists of 23 financial institutions with more than $3.3 trillion (€2.8 trillion) in total financial assets.
Dutch founders of PCAF:
PCAF UK was formed in October 2020 and aims to embrace and strengthen the global PCAF effort by bringing together UK financial institutions to collaboratively meet the challenges in measuring and reporting financed emissions both in the context of UK net zero commitments and international development efforts. Its 12-month workplan focuses on the residential property, agriculture and forestry sectors.
PCAF UK is chaired by the International Business of Federated Hermes. As of June 2021, members of PCAF UK include Aviva Investors Real Assets, Barclays, Cardano, CDC Group, Charity Bank, Ecology Building Society, Evenlode Investment, HSBC Holdings plc, International Business of Federated Hermes, Investec plc, Lloyds Banking Group, Nationwide Building Society, NatWest Group, Phoenix Group, PIDG - The Private Infrastructure Development Group Ltd, TSB Bank plc and Virgin Money UK plc. Together, the group represents a total of over $8.3 trillion (£6.0 trillion) in financial assets through lending and investments. The group will be supported by Mark Carney in his capacity as COP26 advisor. The UK Department of Business, Energy, and Industrial Strategy, the Bank of England, and the Green Finance Institute will be observers.
Observed by: The Bank of England, the Green Finance Institute, the UN Climate Change COP Unit and the UK Department for Business, Energy and Industrial Strategy