Saudi Awwal Bank (SAB) announced its membership to the Partnership for Carbon Accounting Financials (PCAF), cementing its position as one of Saudi Arabia’s most progressive financial institutions in the transition to a sustainable, low-carbon economy.
The membership represents a significant milestone in SAB’s sustainability journey and reflects the Bank’s commitment to responsible banking aligned with Saudi Vision 2030 and the Saudi Green Initiative.
PCAF is a global collaboration of financial institutions enabling harmonised measurement, management, and disclosure of greenhouse gas (GHG) emissions associated with lending and investment portfolios. With over 700 member institutions spanning six continents across North America, Latin America, Europe, Africa and Asia-Pacific, PCAF membership places SAB within the leading tier of climate-conscious financial institutions worldwide.
This membership reflects SAB’s commitment towards combating climate change as part of its strategic focus on sustainability. Through this membership, SAB will have access to an internationally recognized methodology that can support the assessment of financed emissions across relevant portfolios and strengthen the Bank’s internal approach to climate-related analysis and decision-making.
For SAB, joining PCAF represents an additional step in the Bank’s broader sustainability agenda and supports the continued integration of climate considerations into banking activities in a manner aligned with evolving market practice and institutional priorities.
Faten Abalkhail, Chief Governance and Corporate Affairs Officer, at SAB, commented: “Joining PCAF reflects SAB’s commitment to strengthening the way climate considerations are embedded in banking decisions. By measuring financed emissions, we will be better positioned to assess portfolio-level climate exposure, support our clients in their transition plans, and contribute meaningfully to Saudi Arabia’s net-zero ambitions. This is an important step in building credible, data-driven climate action across the financial sector.”
SAB’s PCAF membership builds on the Bank’s broader climate and ESG agenda, including its work to integrate climate-related considerations into relevant banking processes, portfolio analysis, and client engagement. The Bank has been a key participant of sustainable capital markets in the Kingdom, issuing a Green Sukuk and a Green Bond in 2025.
Source: Riyadh Daily