Unibank OJSC has taken another key step in aligning its operations with international ESG standards and creating long-term value by joining the Partnership for Carbon Accounting Financials (PCAF). Unibank is the first bank in Azerbaijan to become a signatory of this global initiative. This partnership will not only enhance transparency but also enable the Bank to measure its emissions linked to its financing activities and strengthen its efforts in addressing climate risks.
Chairman of the Management Board of Unibank OJSC, Mr. Farid Abushov, indicated that:
“Joining PCAF is another exemplary and bold step alongside of Our initiatives in sustainability field. It reflects our long-term sustainability vision and aligned with the Central Bank of Azerbaijan’s Sustainable Finance Roadmap. By joining PCAF, we are committing to measuring and disclosing the carbon footprint of our lending portfolio. Leveraging this global standard will improve transparency and accountability, help us to meet stakeholder expectations, and contribute to national and international sustainability goals. We are proud to be part of PCAF and to strengthen our capabilities in assessing financed emissions. This step reaffirms our dedication to responsible banking and sustainable development.”
PCAF is a global partnership of financial institutions working together to measure and disclose greenhouse gas emissions from loans and investments using a unified methodology. The initiative is expanding rapidly and currently brings together more than 500 institutions across six continents — including North and Latin America, Europe, Africa, and the Asia-Pacific region.
About Unibank
Unibank is one of the largest privately owned banks in Azerbaijan. Established in July 1992 as MBank, it merged with PROMTEXBANK — a major player in the local market — in October 2002 and was renamed “Unibank.” By focusing on digital banking and innovative financial services, Unibank has built a strong reputation and presence in the sector. The bank has been repeatedly recognized as the Best Bank in Azerbaijan by The Banker and Euromoney.
Unibank also owns 100% of the charter capital of Unicapital Investment Company, a key institution in Azerbaijan’s capital market. In 2021, the bank launched LeoBank — the country’s first mobile-only bank. In 2024, Unibank strengthened its market leadership by issuing Azerbaijan’s first green bonds, worth AZN 20 million.
For more information: https://unibank.az
About PCAF
The Partnership for Carbon Accounting Financials (PCAF) was launched globally in September 2019. More than 500 financial institutions have now joined the initiative. Together, PCAF members have developed the Global GHG Accounting and Reporting Standard for the Financial Industry — a framework to consistently measure and disclose greenhouse gas emissions tied to their lending and investment activities.
For more information: https://carbonaccountingfinancials.com
