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Nordea Joins PCAF, Committing to Measuring and Reporting GHG Impact of Loans and Investments

Mark Segal December 16, 2020

Northern Europe-based financial services company Nordea announced that it has joined the Partnership for Carbon Accounting Financials (PCAF), a global partnership of financial institutions with a mission to develop and implement a harmonized approach to assess and disclose the greenhouse gas (GHG) emissions associated with their loans and investments.

The PCAF is a global collaboration of 90 financial institutions, representing nearly $19 trillion in total assets. In joining the initiative, members have committed to measuring and reporting the greenhouse gas emissions associated with loans and investments.

Ylva Hannestad, Nordea’s Deputy Head of Group Sustainable Finance, said:

“We are committed to working together with our customers to align with the climate goals of the Paris Agreement. PCAF will provide us with an important building block in delivering on this commitment, namely a consistent and standardised carbon accounting method to measure our financed emissions.”

Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.