UBA joins PCAF to boost carbon accounting

The Partnership for Carbon Accounting Financials (PCAF) has accepted United Bank for Africa (UBA) as a member. With this admission, the bank becomes the only financial organization from West Africa to be chosen and included in the global core team, which consists of 14 members from all over the world.

As a core team member, UBA will contribute to the development of international accounting standards for the financial industry. The selection process, which drew in over 50 highly qualified candidates from the PCAF signatory community, highlighted UBA's dedication and leadership in sustainable finance.

The CEO of PCAF, Ace Robinson, praised the outstanding efforts made by UBA and the new members of the core team. The only bank from West Africa represented on the global core team is UBA, he noted, underscoring the bank's compliance with PCAF requirements.

“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.

In the meantime, UBA's head of sustainability, Chidozie Ezike, emphasized UBA's commitment to decarbonization, inclusiveness, social responsibility, good governance, and responsible business practices while also expressing thanks for the bank's chance to participate in PCAF.

He said, "We remain a purpose-driven organization, 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." Sustainability is a strategic focus for UBA in driving economic, social, and environmental value across the bank and its entire value chain.

As a member of the PCAF global core team, UBA is well-positioned to further its involvement with the PCAF standards and advance the uniformity and comparability of financed emission accounting across borders.