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Riyad Bank Becomes First Saudi Bank to Join the Partnership for Carbon Accounting Financials (PCAF)
Riyad Bank proudly announces its membership in the Partnership for Carbon Accounting Financials (PCAF), becoming the first bank in Saudi Arabia to join this prestigious global initiative. This milestone underscores the bank’s commitment to environmental sustainability and aligns with Saudi Vision 2030 and the Saudi Green Initiative.
PCAF is a leading international collaboration that enables financial institutions to measure, disclose, and reduce greenhouse gas (GHG) emissions associated with their lending and investment portfolios. By joining this initiative, Riyad Bank takes a significant step toward enhancing climate transparency, integrating sustainable finance practices, and supporting the transition to a low-carbon economy.
The Partnership for Carbon Accounting Financials (PCAF) is a collaboration between financial institutions worldwide to enable harmonized assessments and disclosures of greenhouse gas emissions financed by loans and investments. With more than 500 financial institutions from six continents, the group is rapidly expanding in North America, Latin America, Europe, Africa and Asia-Pacific.
This achievement reflects Riyad Bank’s broader sustainability strategy, reinforcing its role as a key financial institution driving responsible banking and sustainable growth in Saudi Arabia and beyond.
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