First Bank has joined the Partnership for Carbon Accounting Financials (PCAF) as part of its ongoing commitment to sustainable finance, supporting climate action, and fostering socio-economic progress for a just transition. The bank announced this partnership as a key step in reducing its carbon footprint and advancing sustainable finance practices.
PCAF is an international coalition of financial institutions working to standardize the assessment and disclosure of greenhouse gas (GHG) emissions tied to loans and investments. With over 530 member institutions across six continents, PCAF is actively expanding across North America, Latin America, Europe, Africa, and the Asia-Pacific region.
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Dylan Hauser, PCAF’s regional lead for Africa, welcomed First Bank’s commitment, stating, “We congratulate First Bank on becoming a PCAF signatory. We’re delighted to have them join us in promoting positive change and reducing carbon footprints across the region through transparent and accountable practices.”
Patrick Akhidenor, First Bank’s Chief Risk Officer, expressed the bank’s dedication to sustainability, noting, “Joining PCAF marks a significant milestone in our sustainability journey. It reflects our commitment to combatting climate change and our accountability for the carbon emissions associated with our financing activities. We’re excited to collaborate with global institutions to drive impactful climate action.”
The bank’s statement highlighted that this partnership aligns with First Bank’s broader climate agenda, reinforcing its efforts to meet global climate goals. By adopting PCAF’s internationally recognized standards, First Bank aims to promote transparency in carbon accounting, integrate climate risk into lending and investment decisions, and support Nigeria’s shift toward a low-carbon economy.
