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Bank targets should account for all facilitated capital markets emissions, says ShareAction

BNP Paribas building
BNP Paribas, one of the 391 members of the PCAF, which helps financial institutions align with the Paris Climate Agreement. (Photo by MIGUEL MEDINA/AFP via Getty Images)

Disagreement among banks over the weighting of facilitated emissions threatens to lead to a watering-down of the Partnership for Carbon Accounting Financials’ framework, according to one campaign group.

Non-profit environmental, social and governance campaigner ShareAction has expressed concern that banks are lobbying to dilute elements of a proposed new accounting standard on emissions, warning “a significant number of banks could be underreporting their climate impact for years to come, as a result”.

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