City First Enterprises joins Partnership for Carbon Accounting Financials

Official Statement

Washington, DC — As a Community Development Financial Institution, City First Enterprises (CFE) is thrilled to announce our recent partnership with Partnership for Carbon Accounting Financials (PCAF). This partnership brings us into a forward-thinking collective of over 480 financial institutions worldwide and underscores our steadfast commitment to environmental stewardship and sustainable financing.

PCAF stands at the forefront of financial environmental accountability, offering a unified method for financial institutions to assess and disclose the greenhouse gas (GHG) emissions associated with their loans and investments. By joining this global partnership, we have strengthened our commitment to sustainability and begun a journey to more accurately measure and manage the carbon footprint of our activities.

Our involvement in PCAF is a testament to our broader strategy to integrate sustainability into the core of our financial operations. This partnership will empower us with the tools and framework necessary to enhance transparency in our environmental contributions, manage potential risks related to climate change, establish our leadership in sustainable financing, and foster collaboration with like-minded institutions committed to a greener future.

This initiative aligns well with our three-year strategic plan to develop and grow new clean energy projects and programs so that all communities, especially communities of color, equitably benefit from the clean energy transition and climate change mitigation strategies. By adopting PCAF’s harmonized approach to carbon accounting, we are not only taking a significant step towards reducing our environmental impact but consequentially setting a standard for responsible lending that prioritizes the well-being of our planet.

We are excited about the opportunities this partnership will offer to enhance our contribution to global sustainability efforts. We are confident that our involvement with PCAF will lead to meaningful change within our operations and the broader financial sector through collaboration, innovation, and a shared vision for a more sustainable future. Together, we are committed to driving positive environmental change and fostering a sustainable economic future for all.

About City First Enterprises:

City First Enterprises is a certified CDFI (Community Development Financial Institution) specializing in flexible lending for affordable housing, commercial real estate, small businesses, non-profits, and clean energy projects. With a mission to create equitable financial solutions to support people and communities in achieving their economic aspirations, we envision a future where all people and communities transform their futures through equitable access to capital.

For Immediate Release
May 29, 2024