Union Bank of India announced its decision to become a signatory to the Partnership for Carbon Accounting Financials (PCAF).

This step aligns with the growing global emphasis on climate risk management and the recent draft guidelines issued by the Reserve Bank of India (RBI) on climate risk disclosures.

PCAF is a global partnership of financial institutions working to develop and implement a harmonised approach to assess and disclose greenhouse gas emissions associated with loans and investments, Union Bank said in a statement.