By Ayomide Otitoju
In a major stride towards sustainable finance and carbon reduction, FirstBank has joined the Partnership for Carbon Accounting Financials (PCAF). This global alliance brings together financial institutions committed to standardized assessments and transparent disclosures of greenhouse gas (GHG) emissions from loans and investments. Through this move, FirstBank reaffirms its dedication to sustainable finance, climate action, and Nigeria’s journey toward a low-carbon economy.
With over 530 members across North America, Latin America, Europe, Africa, and Asia-Pacific, PCAF empowers financial institutions to align with internationally recognized standards for carbon accounting and climate risk management. FirstBank’s decision to join PCAF supports its broader climate strategy, bolstering transparency in carbon reporting, integrating climate risk into decision-making, and driving Nigeria’s shift towards sustainable development.
Dylan Hauser, Regional Lead for PCAF Africa, welcomed FirstBank’s involvement, stating, “We congratulate FirstBank on becoming a signatory of PCAF. We are delighted to have FirstBank onboard, sharing our commitment to positive change and reducing carbon footprints through transparent and accountable practices in the region.”
Patrick Akhidenor, Chief Risk Officer at FirstBank, highlighted the milestone, adding, “Joining PCAF is a testament to our commitment to combating climate change. This step ensures we are accountable for the carbon emissions our activities finance, and we are excited to collaborate globally to drive meaningful climate action.”
By adopting PCAF’s frameworks, FirstBank aims to enhance its ability to measure and manage climate risks, positioning itself as a leader in climate-conscious finance. This partnership strengthens FirstBank’s ongoing environmental, social, and governance (ESG) efforts, furthering responsible banking practices in Nigeria and beyond.
