ONE Bank PLC has joined Partnership for Carbon Accounting Financials by signing a commitment letter on December 10, 2024 to measure and disclose the bank鈥檚 financed emissions, said a press release.
Such partnership will assist the bank to measure its financed emissions from loans and investments.
Consistent and comparable measurement of carbon emissions are critical to set strategies and track progress to achieve the net zero emission target by 2050 taken in line with Paris Agreement goals.
This partnership is also important to meet country鈥檚 regulatory reporting requirements under IFRSS1 (Sustainability-related disclosures) and IFRS S2 (Climate Related disclosure), the release said.