UBA Takes the Lead in Carbon Accounting as It Joins PCAF Global Core Team

United Bank for Africa (UBA) Plc, widely regarded as Africa’s Global Bank, has achieved a significant milestone by securing membership in the esteemed Partnership for Carbon Accounting Financials (PCAF). This recognition marks UBA as the exclusive financial institution from West Africa to join the ranks of the 14 global core team members representing various regions.

The selection process for this prestigious membership was highly competitive, attracting applications from over 50 distinguished candidates within the PCAF signatory community. UBA’s exceptional commitment and leadership in sustainable finance made it stand out, and as a core team member, the bank will actively contribute to the development of international accounting standards for the financial industry.

Ace Robinson, the Chief Executive Officer of PCAF, extended his commendations to UBA and the new core team members for their exemplary contributions. Notably, he highlighted UBA’s unique position as the sole bank from West Africa on the global core team, underscoring the bank’s alignment with PCAF standards.

Robinson stated, “UBA stood out exceptionally after a rigorous application process, which attracted over 50 highly qualified candidates from across the PCAF signatory community. The bank is the only financial institution from West Africa to be listed on the prestigious global core team, which is commendable and shows that UBA is indeed at the forefront of advancing the Carbon Accounting agenda.”

Chidozie Ezike, UBA’s Head of Sustainability, expressed gratitude for the opportunity to represent the bank as a PCAF member. He emphasized UBA’s dedication to inclusivity, social responsibility, decarbonization, responsible business practices, and robust governance.

Ezike pointed out that sustainability is a strategic focal point for UBA as it seeks to drive economic, social, and environmental value throughout the bank and its entire value chain. He added, “We remain a purpose-driven organization, dedicated to Africa’s long-term well-being and to generating social, economic, and environmental value, which we consider just as important as our financial results.”

UBA’s inclusion in the PCAF global core team positions the bank to deepen its engagement with PCAF standards and contribute to greater international consistency and comparability of financed emission accounting.

The newly inducted members of PCAF’s Global Core Team include Chidozie Ezike from UBA (Nigeria), Emily Rodgers from EIG (United States), Frida Panayi from Metrics Credit Partners (Australia), Giel Linthorst from ING (Netherlands), Hetal Patel from Phoenix Group (United Kingdom), Jamie Mattison from Morgan Stanley (United States), Maren Bodenschatz from Swiss Re (Switzerland), Melanie Janse van Vuuren from Investec (South Africa and United Kingdom), and Rafael Martins de Oliveira from Itau Unibanco (Brazil).

The team also comprises Ryan Greenwald from PIMCO (United States), Sharad Tuladhar from NMB Bank (Nepal), Sharna Bourke from the Commonwealth Bank of Australia (Australia), Stefan Henningsson from Nordea (Finland), and Yu Takita from Mizuho Financial Group (Japan). The group is chaired by Hetal Patel, Head of Climate Investment Risk at Phoenix Group.

UBA is a prominent pan-African financial institution with a strong presence, offering banking services to over 37 million customers through 1,000 business offices and customer touch points in 20 African countries. With its global footprint extending to New York, London, Paris, Cayman Island, and the United Arab Emirates, UBA plays a pivotal role in connecting people and businesses across Africa. The bank’s services span retail, commercial, and corporate banking, innovative cross-border payments and remittances, trade finance, and ancillary banking services, contributing to economic growth and development in the continent.