High on the list is that there is no set standard to calculate the climate impact of finance activities. Launched in 2015 by 14 Dutch financial firms, PCAF’s aim is to forge—and spread—a standard methodology to help financial institutions measure their so-called financed emissions. As it stands, 111 firms with $27.9 trillion in assets have committed to measuring and disclosing their financed emissions through PCAF’s methodology. “We need cuts starting yesterday.”‘Issues with banks’The concept of tracking financed emissions dates back more than a decade. But it’s also one that the PCAF standard begins to account for.