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Fund Managers Estimating the GHG Emissions of Loans & Investments (PCAF)
In August 2021, the Securities and Futures Commission of Hong Kong (SFC) updated the climate-related risks requirements under the Fund Manager Code of Conduct (FMCC), requiring Large Fund Managers to refer to the standards of Partnership for Carbon Accounting Financials (PCAF) – “Global GHG Accounting & Reporting Standard”, when estimating the GHG emissions of the loans and investments they manage.
The following interpretation will summarize the PCAF “Global GHG Accounting & Reporting Standard” to help fund managers understand how to correctly estimate the carbon footprint of their investment portfolio.
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