Count them in? Big US banks mull PCAF carbon standard

BofA, Citi and Wells Fargo looking to adopt emissions standard popular with EU lenders

It started, appropriately enough, on a train to Paris.

A group of Dutch regional bank executives were travelling to the French capital in 2015, when the conversation turned to how each lender accounts for the carbon emissions it finances.

“That’s where we had the idea to create an open-source carbon accounting standard,” says Freek Geurts, impact adviser at ASN Bank.

The splashy commitments banks make to combat climate change count for little without a credible methodology for measuring and