The announcement follows a series of steps taken by the bank to measure and reduce its carbon footprint. In 2020, it implemented a standard for estimating its carbon footprint based on the Greenhouse Gas (GHG) protocols of the World Resources Institute and the World Business Council for Sustainable Development.
It has also prepared a roadmap for implementing the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD). Deschamps is the bank’s internal task force lead for that effort.
The bank’s latest announcement comes not long after it unveiled its new mission, core values and five-point strategic plan for long-term, sustainable growth on December 10, 2021. Integrating environmental, social and governance (ESG) best practices into all corporate decisions and internal processes is one of the essential components of planning.
“We are excited to learn from PCAF members while contributing to the further development of global standards,” Deschamps said.