Union Bank of India Joins PCAF: A Step Towards Climate Risk Management
| Aspect | Details |
|---|---|
| Event | Union Bank of India joins PCAF. |
| PCAF Overview | Global initiative for standardizing greenhouse gas emissions measurement in financial activities. |
| Significance | First major Indian bank to join PCAF. |
| Objective | Measure and manage financed emissions (Scope 3). |
| RBI's Draft Guidelines | Issued on February 28, 2024. |
| Guideline Focus | Disclosure Framework on Climate-Related Financial Risks, 2024. |
| Key Areas of Disclosure | Governance, strategy, risk management, metrics, and targets. |