Union Bank of India Becomes First major Indian Bank to Join the Partnership for Carbon Accounting Financials (PCAF)

Daily Current Affairs / Union Bank of India Becomes First major Indian Bank to Join the Partnership for Carbon Accounting Financials (PCAF)

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Category : Business and economics Published on: September 12 2024

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Union Bank of India became the first major Indian bank to join the Partnership for Carbon Accounting Financials (PCAF) on September 9, 2024, reflecting its commitment to manage and reduce its indirect emissions.
PCAF is a global initiative that aims to provide standardised assessment and disclosure of greenhouse gas emissions related to financial activities, including loans and investments and is in line with the Reserve Bank of India's draft guidelines on climate risk disclosure.