Converse Bank has officially joined the Partnership for Carbon Accounting Financials (PCAF), a global initiative that brings together financial institutions committed to developing and implementing a harmonized approach to measure and disclose greenhouse gas (GHG) emissions associated with loans and investments.

“Joining PCAF reflects Converse Bank’s strategic commitment to sustainable finance, transparency, and responsible banking practices. This milestone is part of the Bank’s broader Environmental and Social Management System (ESMS) and ESG agenda, through which it seeks to integrate sustainability considerations into all aspects of its operations.

By adopting PCAF’s globally recognized methodology, Converse Bank aims to enhance its capacity to measure, manage, and disclose emissions associated with financial activities, thereby contributing to Armenia’s green transition and supporting global efforts to address climate change,” the news release reads.

Originally launched in 2015, PCAF now includes more than 680 financial institutions across six continents, representing a growing global movement to align the financial sector with international climate goals. The initiative supports members in integrating transparent GHG accounting practices into their decision-making processes and reporting frameworks.
The GHG emissions of financial activities (Scope 3 category 15) are the largest portion of financial institutions’ overall emissions. Measuring these emissions is the first step to start managing them.  

Established to promote a harmonized approach to accounting and disclosure, PCAF provides standardized methodologies that help financial institutions assess the GHG emissions associated with their portfolio of loans, investments, (re)insurance underwriting, and other financial products and services. 
 
About Converse Bank

Converse Bank is a leading financial institution in Armenia, committed to delivering innovative and responsible financial solutions. The Bank integrates sustainability, transparency, and strong governance across its operations, aligning with international environmental and social standards to support Armenia’s sustainable economic development. Conversebank.am

About the Partnership for Carbon Accounting Financials (PCAF)

The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 680 financial institutions have subscribed to the PCAF initiative. PCAF participants work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions of their loans and investments.
 
For more information see https://carbonaccountingfinancials.com/

Converse Bank is supervised by the Central Bank of the Republic of Armenia.