News - ARMSWISSBANK CJSC  joins the Partnership for Carbon Accounting Financials

Sustainable financing is a strategic direction for ARMSWISSBANK. The Bank is committed to promote sustainable and environmentally friendly investments. It is of high importance to be a part of like-minded institutions and present trustworthy, consistent reports to stakeholders. Therefore we now join the Partnership for Carbon Accounting Financials (PCAF). PCAF is a collaboration between financial institutions worldwide to enable harmonized assessments and disclosures of greenhouse gas emissions / avoidance generated from  financed loans and investments. With more than 440 financial institutions from six continents, the group rapidly expands in North America, Latin America, Europe, Africa and Asia-Pacific. PCAF provides an opportunity to work with other financial institutions and develop a globally recognized approach to assess and disclose the greenhouse gas (GHG) emissions / avoidance associated with loans and investments. Having a goal to become one of the leading sustainable banks in Armenia, this is a good opportunity for ARMSWISSBANK to set up a solid system for accounting and reporting of portfolio emissions. “We are the first Bank in Armenia to join PCAF. We’re assessing the greenhouse gas emissions linked to investments and our loan portfolio. Now, by becoming a member of PCAF, we would level up the reporting system. Our stakeholders can rely on consistent data to monitor our progress.” says Ara Makaryan, Deputy CEO, Director of Business Development Department. Media Inquiries please contact: Narine Simonyan, ARMSWISSBANK CJSC, Email: [email protected] or Angélica Afanador, Executive Director, PCAF Secretariat, Email: [email protected] About ARMSWISSBANK CJSC “ARMSWISSBANK” CJSC was founded in the Republic of Armenia on October 7, 2004 by the influential businessman in Switzerland, Vartan Sirmakes, who is the founder of Swiss watch company “Frank Muller Watchland” and is still the ultimate beneficiary owner of the Bank with 100% ordinary shares. Apart from traditional banking services, the Bank also offers alternative financing services, trade finance instruments (factoring, purchase order financing, export financing, import financing, letters of credits, guarantees, etc.), investment services, opening escrow and gold accounts, transactions with derivatives and other services. The Bank does not provide retail banking services. ARMSWISSBANK offers a wide range of tailor-made and innovative banking services to the market. The Bank is committed to creating economic value responsibly and supporting the sustainable development of the country.  The name “ARMSWISSBANK” stands for innovative, customer-centric and tailor-made corporate banking services in Armenia for almost 20 years. About the Partnership for Carbon Accounting Financials (PCAF) The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 450 financial institutions have subscribed to the PCAF initiative. PCAF participants work together to jointly develop the Global GHG Accounting and Reporting Standard for the Financial Industry to measure and disclose the greenhouse gas emissions of their loans and investments. By doing so, PCAF participants take an important step to assess climate-related risks, set targets in line with the Paris Climate Agreement and develop effective strategies to decarbonize our society. For more information see https://carbonaccountingfinancials.com/