After -bsp-bb-link state=”{“bbDocId”:”RQL501T1UM0X”,”_id”:”0000018c-24f7-df28-a5cc-26f7c4db0000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>months of stalled negotiations, banks are about to get their first ever industry standard for calculating the carbon footprint of their capital markets units.
The Partnership for Carbon Accounting Financials, a global alliance of banks and asset managers that develops climate accounting guidelines for financial services, has endorsed a -bsp-bb-link state=”{“bbDocId”:”RYNRLIDWRGG0″,”_id”:”0000018c-24f7-df28-a5cc-26f7c4dc0000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>proposal by its joint chairs, Barclays Plc and Morgan Stanley, according to a statement on Friday.
The agreement marks a milestone in climate finance. Assigning responsibility for so-called facilitated emissions — or those that are enabled through debt and equity underwriting — has long been a divisive subject, which …
Source: news.bloomberglaw.com