The Global GHG Accounting and Reporting Standard Part A: Financed Emissions, published by the Partnership for Carbon Accounting Financials (PCAF), provides financial institutions with standardised methodologies to measure and disclose the greenhouse gas (GHG) emissions associated with their loans and investments (scope 3 category 15). This third edition builds upon previous versions and expands coverage to ten asset classes.

• Listed equity and corporate bonds
• Business loans and unlisted equity
• Project finance
• Commercial real estate
• Mortgages
• Motor vehicle loans
• Use of proceeds structures (new)
• Securitizations and structured products (new)
• Sovereign debt
• Sub-sovereign debt (new)

Key updates in this edition include four new methodologies (use of proceeds structures, securitizations and structured products, sub-sovereign debt, and optional IFRS S2 reporting of undrawn loans), as well as two new reporting recommendations — a fluctuation analysis and an inflation adjustment — developed in response to feedback on PCAF’s 2024 Inventory Fluctuation discussion paper.

The standard is grounded in the GHG Protocol’s five core principles (completeness, consistency, relevance, accuracy, and transparency) and introduces additional PCAF-specific requirements covering recognition, measurement, attribution, data quality, and disclosure. It is intended for use by commercial banks, investment banks, development banks, asset owners and managers, and insurance companies seeking to improve transparency, manage emissions-related financial risks, and align with leading disclosure frameworks such as IFRS S2.