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ACCOUNTING & REPORTING  \nStandard PART A  \nSecond edition December 2022  \nThe first edition of this Financed Emissions Standard has been reviewed by the GHG Protocol and is in conformance with the requirements set forth in the Corporate Value Chain (Scope 3) Accounting and Reporting Standard, for Category 15 investment activities. The newly added sovereign debt methodology and guidance on emission removals in this second edition are pending GHG Protocol review and approval.  \nFinanced Emissions  \nThe  \nGLOBAL GHG ACCOUNTING & REPORTING  \nStandard PART A  \nPlease cite this document as:  \nPCAF (2022). The Global GHG Accounting and Reporting Standard Part A: Financed Emissions. Second Edition.  \nIntroduction  \nUnderstand what GHG accounting is  \nIdentify business goals  \nReview accounting and reporting principles and rules  \nReview and apply accounting methodologies for each asset class  \nReport emissions  \nCHAPTER 1  \nCHAPTER 2  \nCHAPTER 3  \nCHAPTER 4  \nCHAPTER 5  \nCHAPTER 6  \nTable of contents  \n Acknowledgements 4   \n Executive summary 7   \n 1. Introduction 10   \n 2. The importance of GHG accounting 17   \n 3. Using GHG accounting to set and achieve business goals 23   \n 4. Principles and requirements of GHG accounting for financials 34   \n 4.1 GHG accounting requirements derived from the GHG Protocol’s principles 35   \n 4.2 Additional requirements for accounting and reporting financed emissions 37   \n 5. Methodology to measure financed emissions 43   \n 5.1 Listed equity and corporate bonds 49   \n 5.2 Business loans and unlisted equity 66   \n 5.3 Project finance 79   \n 5.4 Commercial real estate 88   \n 5.5 Mortgages 94   \n 5.6 Motor vehicle loans 101   \n 5.7 Sovereign debt 109   \n 6. Reporting requirements and recommendations 122   \n 7. Glossary 130   \n 8. Acronyms 135   \n 9. References 138   \n 10. Annex 141   \nAcknowledgements  \nThe Partnership for Carbon Accounting Financials (PCAF) is an industry-led initiative. Created in 2015 by Dutch financial institutions (FIs), PCAF extended to North America in 2018 and scaled up globally in 2019. The globalization of PCAF enables FIs worldwide to consistently measure and disclose the greenhouse gas (GHG) emissions of their financial activities.  \nAs an industry-led partnership, PCAF is governed by a Steering Committee which consists of ABN AMRO, Amalgamated Bank, ASN Bank, the Global Alliance for Banking on Values, Morgan Stanley, NMB Bank, Triodos Bank, and a representative from the United Nations (UN)-convened NetZero Asset Owner Alliance. At the time of publishing this document, more than 300 banks and investors participate in PCAF.1  \nResponding to industry demand for a global, standardized GHG accounting and reporting approach, PCAF developed the Global GHG Accounting and Reporting Standard for the Financial Industry, focusing on measuring and reporting financed emissions. Published in November 2020, the standard provides detailed methodological guidance to measure and disclose GHG emissions associated with six asset classes: listed equity and corporate bonds, business loans and unlisted equity, project finance, commercial real estate, mortgages, and motor vehicle loans.  \nSince then, banks and investors have asked to expand the standard with more methods, also covering other activities of the financial industry. From 2021 onwards, PCAF started the work on three parts under the umbrella of the Global GHG Accounting and Reporting Standard for the Financial Industry:  \n• Part A: update of the first version standard on measuring and reporting financed emissions, by adding a method for sovereign debt and guidance to account for emission removals (“Financed Emissions Standard – second version”)  \n• Part B: development of a standard for measuring and reporting the GHG emissions associated to the capital market facilitation activities (“Facilitated Emissions Standard”)  \n• Part C: development of a standard for measuring and reporting the GHG emission","cbCaitwyQcwEPV5e","https://ap.wps.com/l/cbCaitwyQcwEPV5e","pdf",10707464,151,"English","# Introduction\n# The importance of GHG accounting\n# Using GHG accounting to set and achieve business goals\n# Principles and requirements of GHG accounting for financials\n## GHG accounting requirements derived from the GHG Protocol’s principles\n## Additional requirements for accounting and reporting financed emissions\n# Methodology to measure financed emissions\n## Listed equity and corporate bonds\n## Business loans and unlisted equity\n## Project finance\n## Commercial real estate\n## Mortgages\n## Motor vehicle loans\n## Sovereign debt\n# Reporting requirements and recommendations\n# Glossary\n# Acronyms\n# References\n# Annex","[{\"question\":\"What does PCAF Part A focus on?\",\"answer\":\"PCAF Global GHG Accounting and Reporting Standard Part A focuses on measuring and reporting emissions associated with financed activities, with methods and guidance for multiple asset classes.\"},{\"question\":\"What key updates are introduced in the second edition?\",\"answer\":\"The second edition adds a sovereign debt methodology and guidance for accounting emission removals, alongside minor editorial updates to the first version.\"},{\"question\":\"Which asset classes does the standard cover for financed emissions measurement?\",\"answer\":\"It covers listed equity and corporate bonds, business loans and unlisted equity, project finance, commercial real estate, mortgages, motor vehicle loans, and sovereign debt.\"}]","GLOBAL GHG ACCOUNTING & REPORTING Standard - PART A - second edition December 2022 | PDF",381]