Unibank OJSC has taken another key step in aligning its operations with international ESG standards and creating long-term value by joining the Partnership for Carbon Accounting Financials (PCAF). Unibank is the first bank in Azerbaijan to become a signatory of this global initiative. This partnership will not only enhance transparency but also enable the Bank to measure its emissions linked to its financing activities and strengthen its efforts in addressing climate risks.
Chairman of the Management Board of Unibank OJSC, Mr.
Farid Abushov, indicated that:
“Joining PCAF is another exemplary and bold step alongside of Our
initiatives in sustainability field. It reflects our long-term
sustainability vision and aligned with the Central Bank of
Azerbaijan’s Sustainable Finance Roadmap. By joining PCAF,
we are committing to measuring and disclosing the carbon footprint
of our lending portfolio. Leveraging this global standard will
improve transparency and accountability, help us to meet
stakeholder expectations, and contribute to national and
international sustainability goals. We are proud to be part of PCAF
and to strengthen our capabilities in assessing financed emissions.
This step reaffirms our dedication to responsible banking and
sustainable development.”
PCAF is a global partnership of financial institutions working together to measure and disclose greenhouse gas emissions from loans and investments using a unified methodology. The initiative is expanding rapidly and currently brings together more than 500 institutions across six continents — including North and Latin America, Europe, Africa, and the Asia-Pacific region.
About Unibank
Unibank is one of the largest privately owned banks in Azerbaijan.
Established in July 1992 as MBank, it merged with PROMTEXBANK — a
major player in the local market — in October 2002 and was renamed
“Unibank.” By focusing on digital banking and innovative financial
services, Unibank has built a strong reputation and presence in the
sector. The bank has been repeatedly recognized as the Best Bank in
Azerbaijan by The Banker and Euromoney.
Unibank also owns 100% of the charter capital of Unicapital
Investment Company, a key institution in Azerbaijan’s capital
market. In 2021, the bank launched LeoBank — the country’s first
mobile-only bank. In 2024, Unibank strengthened its market
leadership by issuing Azerbaijan’s first green bonds, worth AZN 20
million.
For more information: https://unibank.az
About PCAF
The Partnership for Carbon Accounting Financials (PCAF) was
launched globally in September 2019. More than 500 financial
institutions have now joined the initiative. Together, PCAF members
have developed the Global GHG Accounting and Reporting Standard
for the Financial Industry — a framework to consistently
measure and disclose greenhouse gas emissions tied to their lending
and investment activities.
For more information: https://carbonaccountingfinancials.com