BDO launches partnership with PCAF for standardised calculation of financed greenhouse gas emissions
BDO launches partnership with PCAF for standardised calculation of financed greenhouse gas emissions
Sustainability aspects have become a key competitive factor in the financial sector. There is growing demand for a global, standardised approach to measuring and reporting financed emissions. PCAF's primary goal is to improve the transparency, consistency and comparability of reporting on financed emissions across the financial sector. PCAF is now considered the global market standard for determining the carbon footprint of financial portfolios and is used by many of the world's leading financial institutions.
"Through our partnership with PCAF, we are creating tangible added value for our clients in the area of sustainable finance," says Dr Patrick Hüser, Head of Risk Management at BDO in Germany. "We are creating data-based and objective foundations for consulting and assurance services to support compliance with regulatory requirements and market-driven optimisation requirements for climate-related analyses and disclosures."
A partnership with many benefits for BDO’s clients
Through its partnership with PCAF, BDO can ensure consistency and traceability in the determination of financed emissions and offer even more differentiated consulting services. These are important prerequisites for the high-quality advice and expert auditing services that customers in insurance, finance and private equity expect today.
By applying PCAF methodologies, BDO is also able to provide even more targeted support to companies in complying with regulatory requirements, for example in the implementation and documentation obligations in the context of reporting in accordance with CSRD or SFDR, ESG risk management, and sustainability and decarbonisation strategies.
"With PCAF, we are able to translate global standards into pragmatic and company-specific solutions for our clients. In doing so, we strengthen resilience to climate-related risks, enable a sound reassessment of portfolios and business models, and provide support in revising governance and data architectures to strengthen credible emissions measurement and reporting," explains Dennis Farr, Senior Manager Sustainable Finance at BDO. "In addition, results from the PCAF methodology can be used as a supplementary control variable for climate-related risk analyses and consistently integrated into existing risk management and control processes in a future-proof manner."
Benefits for BDO itself
The PCAF partnership enables BDO to expand its own range of services, for example by calculating financed emissions for financial portfolios, validating Scope 3 emissions, conducting climate risk analyses or providing climate-related assurance services. It also further strengthens the internal methodology framework.
"Through our partnership with PCAF, we are creating tangible added value for our clients in the area of sustainable finance," says Dr Patrick Hüser, Head of Risk Management at BDO in Germany. "We are creating data-based and objective foundations for consulting and assurance services to support compliance with regulatory requirements and market-driven optimisation requirements for climate-related analyses and disclosures."
A partnership with many benefits for BDO’s clients
Through its partnership with PCAF, BDO can ensure consistency and traceability in the determination of financed emissions and offer even more differentiated consulting services. These are important prerequisites for the high-quality advice and expert auditing services that customers in insurance, finance and private equity expect today.
By applying PCAF methodologies, BDO is also able to provide even more targeted support to companies in complying with regulatory requirements, for example in the implementation and documentation obligations in the context of reporting in accordance with CSRD or SFDR, ESG risk management, and sustainability and decarbonisation strategies.
"With PCAF, we are able to translate global standards into pragmatic and company-specific solutions for our clients. In doing so, we strengthen resilience to climate-related risks, enable a sound reassessment of portfolios and business models, and provide support in revising governance and data architectures to strengthen credible emissions measurement and reporting," explains Dennis Farr, Senior Manager Sustainable Finance at BDO. "In addition, results from the PCAF methodology can be used as a supplementary control variable for climate-related risk analyses and consistently integrated into existing risk management and control processes in a future-proof manner."
Benefits for BDO itself
The PCAF partnership enables BDO to expand its own range of services, for example by calculating financed emissions for financial portfolios, validating Scope 3 emissions, conducting climate risk analyses or providing climate-related assurance services. It also further strengthens the internal methodology framework.