ASUENE Inc. is pleased to announce that it has provided its carbon accounting platform, “ASUENE,” to PT Bank SMBC Indonesia Tbk (SMBC Indonesia), a major banking subsidiary of Sumitomo Mitsui Banking Corporation operating in Indonesia. By leveraging ASUENE, SMBC Indonesia can conduct calculations in line with the PCAF (Partnership for Carbon Accounting Financials) Standard, strengthening its sustainable finance initiatives and accelerating decarbonization efforts across its entire financial portfolio.
Indonesia’s Decarbonization Challenges and the Importance of PCAF Compliance
Indonesia has set an ambitious goal of achieving carbon neutrality by 2060. In support of this, the Indonesian government and the Financial Services Authority (OJK) are enhancing regulations around climate risk management and CO2 emissions reporting for domestic financial institutions. The PCAF Standard, along with the Climate Risk Stress Testing (CRST) guidelines, provides a clear framework for financial institutions to achieve decarbonization targets across their portfolios, highlighting the importance of adhering to these standards in anticipation of potential regulatory mandates.
Given this context, SMBC Indonesia, which has investments in thousands of companies across the region, recognized the need to enhance both the efficiency and reliability of its CO2 emissions visualization and disclosures, leading to the adoption of the “ASUENE” solution.
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