What's Happening?
Korea Credit Information Services (KCIS), the central financial information infrastructure body of Korea, has announced its participation in the Partnership for Carbon Accounting Financials (PCAF) Engagement Group for Central Banks and Other Financial Regulators.
This makes KCIS the first institution from the Asia-Pacific region to join this forum. The move positions KCIS to represent Korea in global discussions concerning the measurement of emissions linked to financial activities, aiming to foster greater consistency and alignment between international approaches and their implementation within the Korean financial sector. The Korea Sustainability Investing Forum (KoSIF), PCAF's partner in Korea, supports Korean financial institutions in adopting and implementing the PCAF standard. KCIS's involvement comes at a time when emissions measurement and disclosure are gaining significant importance in Korea, following the release of final sustainability disclosure standards by the Korea Sustainability Standards Board (KSSB) in February 2026 and the Financial Services Commission's (FSC) plan for mandatory sustainability disclosure in July.
Why It's Important?
KCIS's entry into the PCAF Engagement Group is crucial for enhancing Korea's role in global climate finance discussions and for standardizing emissions measurement within its financial sector. By participating, KCIS will help Korean financial institutions to more accurately calculate and report the greenhouse gas emissions associated with their financial activities. This standardization is vital for assessing climate-related risks, setting effective climate targets, and developing strategies to decarbonize financial portfolios. The initiative will also provide Korean financial institutions with access to PCAF's emission factor database, training programs, and technical assistance, fostering a global community for knowledge sharing. This alignment with international standards is expected to improve the reliability and comparability of data underpinning emissions measurement and disclosure across the financial sector, ultimately supporting green and transition finance initiatives.
What's Next?
Through its participation in the Engagement Group, KCIS intends to stay current with revisions to the PCAF Standard and integrate these updates into its platform. This will enable Korean financial institutions to consistently calculate emissions from their financial activities. KCIS President Yu Suyeong stated that joining the group will bring Korea's approach to emissions measurement into the global dialogue and strengthen the ability of Korean financial institutions to measure and manage emissions. KCIS plans to continue collaborating closely with PCAF to enhance its infrastructure for emissions measurement, helping financial institutions more reliably assess emissions, manage climate risks, and scale up green and transition finance. This ongoing effort is expected to solidify Korea's commitment to sustainable finance and climate action.
