• Friday, December 08, 2023
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UBA joins PCAF to boost carbon accounting

UBA rewards winner of essay competition with N5m scholarship

United Bank for Africa (UBA) has been admitted as a member of the Partnership for Carbon Accounting Financials (PCAF). By this admission, the bank becomes the only financial institution from West Africa to be selected and listed among the 14-member global core team representing all regions.

The selection process, which attracted over 50 highly qualified candidates from the PCAF signatory community, highlighted UBA’s 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.

Ace Robinson, CEO at PCAF, commended UBA and the new core team members for their exemplary contributions. He pointed out that UBA is the only bank from West Africa on the global core team, emphasising the bank’s alignment with PCAF standards.

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“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, which is commendable and shows that UBA is indeed in the forefront when it comes to pushing the Carbon Accounting agenda,” said.

Meanwhile, Chidozie Ezike, UBA’s head of sustainability, 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, decarbonization, responsible business practices, and strong governance.

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He pointed out that sustainability is 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.