PCAF Report 2024 on Financed Carbon Emissions

This report serves as a detailed account of Aareal Bank's financed carbon emissions within its commercial real estate financing portfolio for the financial year 2024. It outlines the Bank's commitment to transparency regarding its environmental impact, following its signing of the Partnership for Carbon Accounting Financials (PCAF) Commitment Letter in 2021. The report indicates a reduction in carbon emissions by 32,484 tonnes, resulting in a total of 607,197 tonnes of emissions, with a decrease in carbon intensity per € million loan. The methodology section describes the principles and data foundations used to prepare the report, emphasizing the collaboration with external specialists to develop a robust carbon footprint calculation model. The report also details the data quality assessment process, which employs a five-point scale to evaluate the quality of the carbon emissions data collected. The findings contribute to the Bank's long-term decarbonization strategy, aligning with global climate goals.