UBA Joins PCAF Global Core Team on Carbon Accounting

The United Bank for Africa (UBA) Plc, yesterday announced that it has been admitted as a member of the prestigious Partnership for Carbon Accounting Financials (PCAF).

According to a statement, by this admission, UBA has emerged the only financial institution from West Africa to be selected and listed among the 14 members of the global core team representing all regions.

It noted that the selection process, which attracted over 50 highly qualified candidates from the PCAF signatory community, highlighted UBA’s exceptional commitment and leadership in sustainable finance, and as a core team member, the bank will contribute to the development of international accounting standards for the financial industry.

The Chief Executive Officer, PCAF, Ace Robinson, commended UBA and the new core team members for their exemplary contributions.

“He specifically pointed out that UBA is the only bank from West Africa on the global core team, emphasising the bank’s alignment with PCAF standards,” the statement added.

He was further quoted to have said: “UBA stood out exceptionally after a rigorous application process, which attracted over 50 highly qualified candidates from across the PCAF signatory community.

“The bank is the only financial institution from west Africa to be listed on the prestigious global core team, that is commendable and shows that UBA is indeed in the forefront when it comes to pushing the Carbon Accounting agenda.

UBA’s Head of Sustainability, Chidozie Ezike, expressed gratitude at the opportunity for the bank to serve as a PCAF member, just as he emphasised UBA’s dedication to inclusivity, social responsibility, decarbonisation, responsible business practices, and strong governance.

He pointed out that sustainability was a strategic focus for UBA in driving economic, social, and environmental value across the bank and its entire value chain, adding that “We remain a purpose driven organisation, dedicated to Africa’s long-term wellbeing and to generating social economic and environmental value, which is an outcome we regard just as important as our financial results.

“With UBA’s inclusion in the PCAF global core team, the bank is poised to deepen its engagement with the PCAF standards and contribute to greater international consistency and comparability of financed emission accounting.

“The new members of PCAF’s Global Core Team are: UBA’s  Chidozie Ezike (Nigeria), Emily Rodgers of EIG (US), Frida Panayi of Metrics Credit Partners (Australia), Giel Linthorst of ING (Netherlands), Hetal Patel of Phoenix Group (UK), Jamie Mattison of Morgan Stanley (US), Maren Bodenschatz of Swiss Re (Switzerland), Melanie Janse van Vuuren of Investec (South Africa and UK), Rafael Martins de Oliveira of Itau Unibanco (Brazil).

“Others are Ryan Greenwald of PIMCO (US), Sharad Tuladhar of NMB Bank (Nepal), Sharna Bourke of the Commonwealth Bank of Australia (Australia), Stefan Henningsson of Nordea (Finland) and Yu Takita of Mizuho Financial Group (Japan). The group is chaired by Hetal Patel, Head of Climate Investment Risk at Phoenix Group,” the statement added.