Kathmandu. Kumari Bank has joined the ‘Partnership for Carbon Accounting Financial’. The bank has joined PCAF and committed to responsible banking, climate action and more transparency in understanding and managing greenhouse gas emissions from its financial activities.
By becoming a member of PCAF, Kumari Bank will use globally recognized standards and methodologies of PCAF to quantify and publicly publish greenhouse gas emissions from its loans and investments.
This initiative represents an important step forward in further strengthening the Bank’s practices on climate data, risk management, and sustainable finance. The financial sector has a critical role to play in supporting the transition to a low-carbon and climate-resilient economy. By joining PCAF, Kumari Bank aims to enhance its capacity to understand the climate impact of its investment activities and use the information gained from it in future financial decisions, risk management, and sustainability initiatives.
PCAF is a global collaboration of financial institutions that facilitates a uniform assessment and disclosure of greenhouse gas emissions through loans and investments. Its growing global network provides financial institutions with a common framework to measure emissions related to financial investments and improve climate transparency. For Kumari Bank, becoming a member of ABB is a significant advancement in its broader sustainability journey. It also reflects the Bank’s commitment to incorporate environmental aspects into its business and financial activities.
Arpan Poudel, Head, Sustainable Banking, Kumari Bank Limited said, “Joining PCAF is an important milestone in Kumari Bank’s sustainability journey. Understanding the emissions associated with our financial activities will help us make mature decisions based on facts and information to strengthen our climate strategy, increase transparency, and help move towards a resilient and sustainable economy.” ‘
