PRESS RELEASE: Raise Green joins the Partnership for Carbon Accounting Financials
Raise Green commits to measure and report financed emissions as part of climate accountability commitment.
Somerville, MA - 9 August, 2021 - Today, Raise Green is announcing it has officially joined the Partnership for Carbon Accounting Financials (PCAF).
The Partnership for Carbon Accounting Financials (PCAF) is a collaboration between financial institutions worldwide to enable harmonized assessments and disclosures of greenhouse gas (GHG) emissions financed by loans and investments. With more than 140 banks and investors from five continents, the group is rapidly expanding in North America, Latin America, Europe, Africa and Asia-Pacific.
By joining PCAF, Raise Green stands behind the critical movement to standardize the way that GHG emissions associated with loans and investments are measured.
“Raise Green has been leading the way on inclusive impact investing for local climate solution projects in the US by enabling everyone to invest in or create climate projects -- by joining PCAF, their pioneering work in the retail private securities markets can more easily be translated into the same metrics that larger institutional investors can understand and incorporate into their ESG strategies” said Nicole Labutong, PCAF North America Lead.
As more and more companies begin to compute Environment Social Governance (ESG) Scores, comparing impact metrics has become difficult because there is a lack of harmonization across the board. There is a growing need for reporting transparency and a common measurement methodology for GHG emissions. As such, industry partnerships are imperative for progress.
PCAF ‘s standardized methodology will enable Raise Green to measure and report the GHG emissions of loans and investments across its marketplace. Additionally, it will help Raise Green provide further clarity to external stakeholders, investors and originators by requiring full disclosure of absolute scope 1 and 2, and where relevant, scope 3 GHG emissions across six asset classes.
“Raise Green has established a new asset class of green private securities so that anyone can invest in climate solutions for as little as $100, and so local communities can benefit from access to capital on their own terms. With the climate crisis accelerating, and more investors stepping up to back climate solutions, it’s more crucial than ever that we have measurable and comparable metrics to demonstrate and verify true impact investment, and differentiate it from greenwashing and posturing.” said Franz Hochstrasser, CEO & Co-Founder of Raise Green.
“As we mobilize more and more retail and accredited investors to back real climate solutions that benefit communities, it’s important that the metrics we are using to convey those benefits are translatable across the range of private and public markets, and across retail, accredited, philanthropic, and institutional investors looking to satisfy growing demand for real climate and ESG investments and hungry for the data to back it up.”
This partnership provides Raise Green with the opportunity to reaffirm their support for a fully transparent agenda of climate action.
To learn more about Raise Green and to utilize their platform to invest in or start clean energy projects, visit: raisegreen.com.
About Raise Green Raise Green is the first marketplace in the U.S. for local and inclusive impact investment with verifiable and demonstrable environmental benefits. Through the platform, anyone can be an originator of their own community solar project. On Raise Green’s investor marketplace, anyone (individuals and institutions) can invest in community-focused climate resilience projects across a varied range of project scales and minimum investments. Early investors in Raise Green are veterans of the renewable energy industry and project financing. Investors can derive value while at the same time creating quantifiable impacts in local communities, as well as receiving financial returns if the project is successful.
About the Partnership for Carbon Accounting Financials (PCAF) The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 140 banks and investors 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. By doing so, PCAF participants take an important step to assess climate-related risks, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonize our society. For more information see https://carbonaccountingfinancials.com/