PCAF-Joint Impact Model partnership to improve financed emissions estimates
Utrecht/The Hague – November 3, 2021 – The Partnership for Carbon Accounting Financials (PCAF) and the Joint Impact Model (JIM) announced a collaboration to make the JIM available to PCAF participating banks in developing countries.
In the context of COP26, this is an exciting step towards more accountability and measurement of GHG emissions for financial institutions investments. Through the partnership, the current JIM methodology will be aligned with PCAF’s reporting standards so banks in developing countries and all current JIM users can report on financed emissions aligned with PCAF standards.
The JIM is a publicly accessible tool which enables the quantification of indirect jobs, value added and GHG emissions (scope 1, 2 and 3) related to corporate lending portfolios. Together, PCAF and JIM will align the current JIM methodology with the PCAF Global GHG Accounting and Reporting Standard for the Financial Industry so any banks in developing countries will be able to report on their financed emissions aligned with the PCAF Standard. This also means all current users of the JIM will be able to align their reporting with the PCAF Standard. The JIM sources their data from GTAP, which contains a wider dataset for developing countries, allowing these banks to improve their calculations of financed emissions in corporate lending portfolios. It will be tested by three banks in Q1 2022 before it is rolled out to other PCAF signatories in developing emerging markets.
For more background: https://carbonaccountingfinancials.com/newsitem/pcaf-collaborates-with-the-joint-impact-model-to-improve-financed-emissions-estimates-in-developing-countries#newsitemtext