Saudi Awwal Bank (SAB) has announced its membership in the Partnership for Carbon Accounting Financials (PCAF), marking a key milestone in its sustainability journey. This step reinforces SAB's position as a progressive financial institution in Saudi Arabia's transition to a low-carbon economy, aligned with Saudi Vision 2030 and the Saudi Green Initiative.
What is PCAF?
PCAF is a global collaboration of financial institutions that enables harmonized measurement, management, and disclosure of greenhouse gas emissions associated with lending and investment portfolios. With over 700 members across six continents, PCAF membership places SAB among leading climate-conscious financial institutions worldwide.
SAB's Commitment to Climate Action
Through this membership, SAB gains access to an internationally recognized methodology to assess financed emissions across relevant portfolios. This strengthens the bank's internal approach to climate-related analysis and decision-making, integrating climate considerations into banking activities.
Faten Abalkhail, Chief Governance and Corporate Affairs Officer at SAB, stated: "Joining PCAF reflects SAB's commitment to embedding climate considerations in banking decisions. Measuring financed emissions will help us assess portfolio-level climate exposure, support clients in their transition plans, and contribute to Saudi Arabia's net-zero ambitions. This is a crucial step toward credible, data-driven climate action in the financial sector."
Broader Sustainability Agenda
SAB's PCAF membership builds on its broader climate and ESG agenda, including integrating climate-related considerations into banking processes, portfolio analysis, and client engagement. The bank has been a key participant in sustainable capital markets in the Kingdom, issuing a green sukuk and a green bond in 2025.
