Mirae Asset Global Investments Joins Financial Institutions Climate Change Initiative PCAF

[Asia Economy Reporter Hwang Yoon-joo] Mirae Asset Global Investments announced on the 23rd that it has joined PCAF (Partnership for Carbon Accounting Financials), a global financial institution carbon emissions measurement initiative.

In accordance with PCAF principles, Mirae Asset Global Investments will measure and disclose the carbon emissions of its investment financial assets within three years, and PCAF provides the data and methodology necessary for emissions measurement.

PCAF is the only global initiative specialized in measuring emissions from financial assets. It offers and supports carbon emissions calculation methods for various asset classes including stocks, bonds, loans, mortgages, and real estate. Member financial institutions can systematically measure the carbon emissions of their financial assets through PCAF activities, which serves as a foundation for establishing Net-Zero plans or meeting the disclosure standards of climate-related initiatives.

Mirae Asset Global Investments’ efforts to address climate change are linked to the recent expansion of ESG (Environmental, Social, and Governance) investment strategies. Starting with the establishment of the ‘Responsible Investment Strategy Center’ and its subordinate ‘ESG Strategy Headquarters’ at the end of last year, Mirae Asset Global Investments is developing its own ESG investment strategies. In this process, the measurement of financial asset carbon emissions through PCAF membership will be used as fundamental data to evaluate ESG levels by portfolio and to construct investment strategies, going beyond declarative climate change responses.

Meanwhile, classified under the PCAF Asia Pacific region, Mirae Asset Global Investments plans to collaborate with Asian financial firms such as those in Japan and Singapore through forum activities to research carbon emissions measurement methodologies.

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