First Capital Holdings PLC Joins Global Initiative to Measure and Disclose Greenhouse Gas Emissions

First Capital Holdings PLC, a subsidiary of JXG (Janashakthi Group), has announced its membership in the Partnership for Carbon Accounting Financials (PCAF), becoming the first capital markets institution in Sri Lanka to join this global initiative. This significant step reinforces First Capital's commitment to Environmental, Social and Governance (ESG) principles and aligns its operations with global climate goals. As a PCAF signatory, First Capital will adopt the PCAF framework for measuring financed emissions, a critical step in quantifying and managing its climate impact.

Key Takeaways:

• First Capital Holdings PLC is the first capital markets institution in Sri Lanka to join the Partnership for Carbon Accounting Financials (PCAF), a global initiative with over 600 financial institutions worldwide.
• By joining PCAF, First Capital adopts the PCAF framework for measuring financed emissions, a critical step in quantifying and managing its climate impact.
• The firm reported a total of 309.9 tCO2e under Scope 1, 2, and 3 emissions for the financial year 2024/25, excluding financed emissions.
• First Capital's membership in PCAF is a significant step towards aligning its portfolio with science-based climate targets and responding to growing stakeholder demand for robust, decision-useful climate disclosures.
• The firm is committed to embedding climate risk and carbon accountability into its decision-making processes and is expected to report its financed emissions under the PCAF Standard.
• First Capital's Head of Sustainability and Corporate Reporting, Diluni Danushika, stated that joining PCAF allows the firm to move beyond operational emissions and look at the broader picture on how the capital it allocates influences climate outcomes.
• The firm's membership in PCAF underscores its strategic foresight and leadership within the region, serving as a catalyst for broader adoption of sustainable finance practices in Sri Lanka's capital markets.

Statistics:

• The Partnership for Carbon Accounting Financials (PCAF) has over 600 financial institutions worldwide as its members.
• First Capital Holdings PLC reported 309.9 tCO2e under Scope 1, 2, and 3 emissions for the financial year 2024/25, excluding financed emissions.
• PCAF is the global leader in financed emissions measurement, founded in 2015.
• First Capital's membership in PCAF is a key step towards aligning its portfolio with science-based climate targets and responding to growing stakeholder demand for robust, decision-useful climate disclosures.

Sources:

• First Capital Holdings PLC, Press Release: First Capital joins global climate initiative (2022)
• Wijeya Newspapers Limited, Copyright 2022 (2022)