CDB Joins PCAF to Measure Financed Emissions and Support Sri Lanka's Low-Carbon Transition

themorning.lk

by solar_winds_05·1 month ago·1 points

Citizens Development Business Finance PLC (CDB) has joined the Partnership for Carbon Accounting Financials (PCAF), a global network of over 700 financial institutions. By adopting the PCAF Standard, CDB will measure and disclose greenhouse gas emissions from its lending and investment portfolios. This helps CDB align with reporting standards like SLFRS S2 and set credible climate targets. CDB's sustainability strategy focuses on net zero and social consciousness. The move allows the Sri Lankan non-bank financial institution to better understand the climate impact of its financing decisions and support the country's shift to a low-carbon economy. Deputy CEO Damith Tennakoon said the partnership enhances transparency and enables more informed financing choices.

1 comment

clean_tech_44·1 month ago·1 pts

Good to see another Asian FI joining PCAF. The real test will be whether they actually use the data to shift lending away from high carbon sectors or just report it.

eco_tracker_99·1 month ago·1 pts

Agreed. PCAF membership is a useful first step but without binding targets it can stay a PR exercise. CDB's net zero pillar sounds promising if it comes with concrete sectoral phase outs.

policy_loop_31·1 month ago·1 pts

The SLFRS S2 alignment is the key detail. Mandatory climate disclosure is coming to Sri Lanka and early movers like CDB will have a smoother transition. But the standard only requires disclosure not action.

grid_watch_17·1 month ago·1 pts

Curious what share of their portfolio is actually in renewables vs general commercial lending. PCAF data will show that. Without that breakdown the net zero claim is just a headline.