New Delhi, Apr 13 (IANS): Taking a step forward in contributing towards the global effort of cutting carbon footprint, Caspian Debt now joins the Partnership for Carbon Accounting Financials (PCAF), the first Indian Non bank finance institution to do so.

Caspian Debt, a debt provider to professionally managed small and mid-market companies that include social enterprises, startups and inclusive finance institutions has become a signatory to the Partnership for Carbon Accounting Financials (PCAF) to develop and implement greenhouse gas (GHG) accounting. Caspian Debt is the first Indian Non-Bank Finance Institution to become a signatory to the PCAF.

The Partnership for Carbon Accounting Financials (PCAF) is a collaboration between financial institutions worldwide to enable harmonized assessments and disclosures of greenhouse gas emissions financed by loans and investments. With more than 350 financial institutions from six continents, the group is rapidly expanding in North America, Latin America, Europe, Africa and Asia-Pacific.

"Caspian Debt has always focused on supporting businesses with a positive environmental and social outcome. The partnership with PCAF will provide us with a common language and framework for measuring and reporting the carbon footprint of our portfolio, enabling us to better understand our investments. This partnership will further align us with the global goal of addressing as set out in the Paris Agreement," says Avishek Gupta, MD & CEO, Caspian Debt.