/viestories/media/post_attachments/wp-content/uploads/2023/04/caspian-debt-and-pcaf-partnership.jpg)
Caspian Debt, a debt provider that serves professionally managed small and mid-market companies such as social enterprises, startups, and inclusive finance institutions, has joined the Partnership for Carbon Accounting Financials (PCAF) to create and execute greenhouse gas (GHG) accounting. This makes Caspian Debt the first non-bank financial institution in India to sign on with the PCAF.
The PCAF is a global initiative involving financial institutions that aims to promote standardized evaluations and disclosures of greenhouse gas emissions supported by investments and loans. The group includes over 350 financial institutions across six continents and is growing quickly in North America, Latin America, Europe, Africa, and Asia-Pacific, as per reported by BW Disrupt.
Read also - [Funding alert] Polka Pop Secures Pre-Seed Funding
By becoming a member of the PCAF, Caspian Debt has made a tangible effort to combat climate change and encourage environmentally conscious investments in its portfolio. Through the PCAF, the company is working towards developing a unified framework for measuring carbon emissions in its portfolio.
The Reserve Bank of India and the Securities and Exchange Board of India, two financial sector regulators in India, have recently shown a policy emphasis on reducing risks associated with climate change.
Caspian Debt intends to create a thorough and open approach to evaluate and reveal emissions financed through its operations with the assistance of PCAF. Through this initiative, Caspian Debt hopes to become a pioneer in adhering to forthcoming regulatory obligations while also contributing to the management of climate-related risks. By joining PCAF and developing the portfolio carbon accounting system, the company aims to establish itself as a leader in this area.
