CDB joins PCAF to measure financed emissions and support Sri Lanka's low carbon transition

Citizens Development Business Finance PLC (CDB) has signed on to the Partnership for Carbon Accounting Financials (PCAF), a global network of over 700 financial institutions. The move means CDB will start measuring and disclosing the greenhouse gas emissions tied to its lending and investment portfolios, not just its own operations. This is a concrete step toward aligning with standards like SLFRS S2 and setting credible climate targets. For Sri Lanka, this signals that local financial institutions are beginning to adopt the same carbon accounting frameworks used by major global banks. CDB's focus on financed emissions rather than just operational footprint is the right approach, since that is where the real climate impact sits. The article does not specify which sectors CDB will prioritize or what baseline year they will use, but joining PCAF is a necessary first step for any lender serious about decarbonizing its portfolio.