TCW Joins Partnership for Carbon Accounting Financials (PCAF)

Published on: 22 November 2022
by KnowESG
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The Partnership for Carbon Accounting Financials (PCAF) has welcomed TCW as a new member, a global independent asset management company. PCAF is a global consortium of financial institutions working to develop a standardised framework for better reporting of financed emissions.

As part of the partnership, the company will use its knowledge of the market to help create a standard way to measure and report greenhouse gas emissions from financing activities.

“As the interest in and importance of ESG investing continues to evolve, TCW has continued to deepen our efforts to credibly integrate, analyse, and report on ESG factors in a manner that is consistent and appropriate with our diversified investment strategies,” said Jamie Franco, TCW’s Head of Fixed Income ESG. "This new partnership will help us continue to improve our ability to track and report GHG emissions around the world."

PCAF is the only-industry led initiative that enables institutions to assess and disclose their carbon emissions. As a member, TCW has promised to share the financed emissions for some of its investment portfolios within the next three years, according to PCAF's standards. TCW is proud to support other environmental partnerships, like the Task Force on Climate-related Financial Disclosures (TCFD) and the Principles for Responsible Investing (PRI), which are backed by the United Nations.

“We hope that by joining PCAF, we’re able to better measure our own carbon footprint while working with other asset managers to do the same, particularly for asset classes, such as securitised credit, not currently covered by the PCAF standard,” said Harun Dogo, TCW Head of ESG Research. “It’s important that we continue to work with our peers to develop explicit methodologies for measuring financed emissions.”

PCAF is an international group of more than 300 financial institutions from five continents that work together to create and use a uniform way to measure and report greenhouse gas emissions financed by loans and investments. The partnership was launched in Europe in 2015 and globally in 2019.

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Source: TCW