Comerica Bank joined the Partnership for Carbon Accounting Financials (PCAF) to better understand the carbon footprint of its portfolios.
“There’s a growing recognition that the operational impact of a bank [on the environment] is relatively low,” said Scott Beckerman, Director of Corporate Sustainability at Comerica Bank. “We recognize that our impacts go beyond our own footprints in the banking industry.”
PCAF is a global partnership program among 70 different financial institutions across the world. PCAF is developing a method to assess financed greenhouse gas emissions (GHG) in loans and investments made by financial institutions.
The partnership gives Comerica an opportunity to work with industry peers. In addition, it allows Comerica to come up with an accounting system tha…