FIRST WEBINAR ON “METHODOLOGIES AND TOOLS FOR PARIS ALIGNMENT”
This week we conducted the first sessions of the webinars series focused on “Methodologies and tools for Paris Alignment”. On this occasion, Giel Linthorst, Executive Director of the Partnership for Carbon Accounting Financials (PCAF) walked us through the showcase of the Secretariat.
The organization of this series emerged from the development of a paper in collaboration with the Coalition of Finance Ministers for Climate Action, named “Paris Alignment for Private Financial Institutions: Commitments and Methodologies”. You can read the key findings here.
This research showed that sustainable finance initiatives have quintupled in the last decade, and climate change is still their main focus of attention. Groups of financial institutions have likewise collectively stepped up worldwide to advance on aligning their portfolios with the zero-carbon transition.
Yet, they have increasingly been working towards Paris alignment through commitments and pledges, mostly through internationally convened networks. Although commitments on Paris alignment are a fundamental step towards decarbonizing portfolios and balance sheets, the operationalization of commitments remains challenging.
In this session, we revised the Strategic Framework for Paris Alignment and focused on the PCAF methodology, to better understand the role it plays in this overarching process and the importance of the tool in the financial sector. PCAF incorporates 156 financial institutions that represent over 50 trillion USD in total assets.
Thank you to everyone who participated live. In this link, you can watch the recording. If you were unable to attend, we hope to see you at the next webinars.