KCIS becomes first in Asia to join international financed-emissions partnership

[Financial News] Korea Credit Information Services (KCIS) has become the first institution in the Asia-Pacific region to join the Partnership for Carbon Accounting Financials (PCAF) Engagement Group.
According to KCIS on the 12th, it plans to use this opportunity to take part in discussions on international standards for calculating financed emissions and work to strengthen domestic financial companies’ capacity to manage climate risks.
PCAF is an international partnership launched in 2015 to measure and disclose greenhouse gas emissions associated with financial institutions’ lending and investments using a common standard. Its Engagement Group was established to expand cooperation between PCAF and central banks, financial supervisory authorities, and other organizations around the world.
KCIS plans to take part in discussions on revising PCAF’s methodology for calculating financed emissions. It intends to incorporate the latest international standards and related information into its own financed-emissions platform to help domestic financial companies calculate emissions more accurately and consistently. This is also expected to make it easier for the domestic financial sector to respond to changes in international standards.
KCIS President Yu Su-yeong said, “We will continue to work with PCAF to further enhance our financed-emissions platform and actively support financial institutions in reliably calculating financed emissions, managing climate risks, and expanding green and transition finance.”

[email protected] Ye Byung-jung Reporter