Аrmeconombank has joined the Partnership for Carbon Accounting Financials (PCAF) with the goal of supporting the sustainable development of the green economy.

The bank reported that within the framework of this cooperation, it will be possible to assess the greenhouse gas (GHG) emissions resulting from the bank’s loans and investments, as well as to develop recommendations aimed at their reduction.

The cooperation between Armeconombank and PCAF is in line with the bank’s Environmental, Social and Governance (ESG) vision, which serves the objectives of sustainable development.

By committing to the PCAF standards, Armeconombank aims to:

•    achieve climate neutrality by 2035 through reducing GHG emissions resulting from its business processes,
•    measure and disclose carbon emissions,
•    align its loan portfolio with the PCAF standards.

Armeconombank is supervised by the Central Bank of Armenia.