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Seraya Partners joins Partnership for Carbon Accounting Financials
We are the 1st financial institution in Singapore and 1st asset manager in SE Asia to join PCAF
February 23, 2022 at 9:00:00 AM
Seraya Partners has officially signed on to the Partnership for Carbon Accounting Financials (“PCAF”), becoming Singapore’s first financial institution to join the industry-led initiative.
As the leading asset manager investing into Asia’s Next Generation Infrastructure, sustainability is core to Seraya’s strategy. Its focus on digital infrastructure and on energy transition has a significant and direct impact on greenhouse gas emissions. There is a need for a robust mechanism to quantify and benchmark such impact by the fund and its portfolio companies.
“We firmly believe in building our business around achieving Net Zero Carbon Neutrality.” James Chern, Chairman and Managing Partner of Seraya Partners, said. “PCAF gives us the tools to ‘walk the talk’ and report to our stakeholders in a consistent and transparent manner.”
Seraya Partners’ participation in the PCAF is the latest in a series of moves to codify sustainability into its investment process, guided by the spirit of the UN Paris Agreement. Earlier in February this year, Seraya Partners signed on to the Task Force on Climate-related Financial Disclosures; it is also a signatory to the United Nations Principles for Responsible Investment.
In addition to participating in these global ESG frameworks, Seraya Partners is actively making investments into green assets. It is heeding the call by the Singapore government under the Green Plan 2030 to position sustainability as a new engine for jobs and growth. In October 2021, Seraya Partners invested into Empyrion DC Pte. Ltd. (“Empyrion”), the first green hyperscale data centre developer and operator in Asia. In December 2021, Empyrion, together with its co-investors, announced the acquisition of Dodid Pte. Ltd. (“Dodid”), a Tier-III state-of-art data centre facility with BCA-IMDA Green Mark platinum certification.
Ultimately, Seraya Partners is confident that in aligning to standards such as the PCAF and in pursuing investments into green assets, it moves closer towards achieving its sustainability goals and improving the long-term risk-adjusted returns for its investors.
About the Partnership for Carbon Accounting Financials (PCAF)
The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. Currently, more than 220 banks and investors 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/