One book, measured. From a public claim to an audit-ready number.
You report and assure your operational footprint. This workspace loads the emissions your Private Credit capital is connected to, resolves the 41% ESG-positive claim into tonnes, and generates the disclosure an LP, a rating agency or BRSR would ask for. Every number below is chipped disclosed or illustrative.
Reported operational footprint Disclosed · BRSR FY26
Scope 1 + Scope 2. ~72% renewable power. Scope 3 answered "not applicable" as filed: the BRSR form does not ask an asset manager for financed emissions. This is the part you already do well, and it is credited in full.
The frontier, at true scale Illustrative
Reported operational vs financed emissions on the Private Credit book.
~2,500× your reported footprint. At this scale, 692 tCO₂e is the 2-pixel line at the far left.
Your claim, quantified
You state 41% of Private Credit AUM sits in ESG-positive sectors (Mar 2026, down from 46.5% in FY25). That 41% is ₹4,921 Cr of exposure, and it carries ≈240 ktCO₂e of the book's financed emissions Illustrative. The other 59% carries the remaining ≈1.5 Mt. A sector label becomes a defensible tonnes-and-intensity number, per the same PCAF standard a peer already used. That is the difference between a slide and a claim an LP's ESG desk will accept.
Jump into the platform
Portfolio
Your Private Credit book as rows: exposure, data source, attribution, financed emissions and a PCAF data-quality score per borrower. The one row you can open is illustrative of the borrower workspace that exists for all 45 in a pilot.
| Counterparty | Asset class | Data source | Attribution | Exposure | Financed | PCAF | |
|---|---|---|---|---|---|---|---|
| 45 borrowers | weighted | – | ₹12,002 Cr | ≈1,743 kt | 4.1 |
Vajra Cement
₹780 Cr of exposure, and the single biggest slice of the book's financed emissions. This is the borrower where measurement and engagement move the number most.
Borrower's stated plan public
Vajra's own disclosure: kiln thermal-substitution to 18% AFR, a 12 MW WHRS unit, and a stated intent to cut clinker factor. No SBTi target. The plan exists; nobody has converted it into a financed-emissions trajectory on your book.
Risk and opportunity are the same tonne, read twice. Move the borrower, and the number in your LP report and the number on your risk dashboard both move together.
Portfolio analytics
One array, read from six angles. Every figure here derives from the same 45-borrower book on the portfolio page, so no two screens can disagree.
Financed emissions by sector
ESG-positive vs the rest
Exposure by asset class
PCAF data-quality distribution
Today the book sits at score 4–5 (estimated). A pilot pulls borrower financials and physical data, moving lines to 2–3 and tightening the number.
Reporting & disclosure
The same measured book, written into whichever framework the reader wants. Toggle sections, switch the framework, generate. This is where "we measured it" becomes a document you can hand an LP.
Framework
Sections
Report library
Data & methods
What the number is built from, and where it can be trusted today versus where a pilot improves it.
Datasets in this build
Coverage today
The two engines
Every financed number is produced by one of two engines. Open them to see the method, with your numbers substituted in.
Attribution engine
PCAF attributes a borrower's emissions to you by your share of its financing. One formula, the same across every asset class. Only the denominator changes.
attribution factor = your outstanding exposure ÷ borrower EVIC
financed = attribution factor × borrower Scope 1+2 (+3, phased)
Worked on your largest line · Vajra Cement
Same rupee, different attachment point. Lend to a ring-fenced clean SPV instead of the parent, and the same ₹780 Cr attributes against a fraction of the carbon. Attribution is a structuring lever, not just a score.
Denominator by asset class
| Asset class | Denominator | In this book |
|---|---|---|
| Corporate loan | EVIC (listed) / total equity+debt (private) | ₹5,671 Cr |
| Real estate debt | Property value at origination | ₹2,460 Cr |
| Project finance | Total project equity + debt | ₹3,441 Cr |
| Structured credit | Look-through to underlying assets | ₹520 Cr |
Estimation engine
You have not measured this book, so today the number is an estimate. Honesty is the product: here is exactly how it is built, what each rung costs in data quality, and the range it produces.
The data-quality ladder (PCAF 1–5)
Audited Scope 1+2 from the borrower. Best score. Target for your top exposures in a pilot.
Self-disclosed emissions. Common for larger corporate borrowers.
Production or floor-area × physical EF. E.g. cement tonnes, hospital beds, MW installed.
Revenue or asset value × sector EF. Where most of this book sits today.
Exposure × sector-average intensity, no borrower data. The 34-borrower "Others" bucket.
The range this produces
Anchored to Caspian's published PCAF intensity, adjusted for your book's heavier sector mix (real estate, cement, chemicals, infrastructure). Presented as a band, not false precision.
Even the floor is ~2,000× your reported 692 tCO₂e. The pilot's job is not to make the number bigger. It is to make it defensible.
Peer benchmark
Financed-emissions disclosure across Indian financial institutions. The point is not that you are behind on a mandate. There is no mandate. The point is who moved without one.
Financed-emissions disclosure · Indian FIs
| Institution | Book measured | Published Cat-15 | Prompted by |
|---|---|---|---|
| Caspian (impact NBFC) | ≈₹460 Cr debt book | 54,728 tCO₂e · FY24 | Nobody. Voluntary. |
| YES Bank | Sector-wise lending | Disclosed · verified | Voluntary |
| IDFC FIRST | Vehicle portfolios | 18.2 lakh tCO₂e | Voluntary · PCAF signatory |
| 360 ONE · Private Credit | ₹12,002 Cr | Not yet measured | – |
The contrast that matters
An impact NBFC 26× smaller than your Private Credit book measured its financed emissions and published them, voluntarily, in its first year. That is the report Rohit asked us to send. The gap is not capability. It is that nobody has done the work on your book yet.
How this was built
What is real, what is illustrative, and how the estimate is derived. Said plainly, because a number you cannot interrogate is a number you cannot defend.
Disclosed Real, from your filings
Illustrative Modelled for this demo
How the ≈1.7 Mt is derived
Caspian's FY24 PCAF report: 54,728 tCO₂e on a ~€45.9M book = ≈1,193 tCO₂e per €M outstanding. A real, India-specific, PCAF-published intensity for a diversified private-debt book.
Caspian lends to microfinance, agriculture and clean energy: structurally low-carbon. Your book carries real estate, cement, chemicals and infrastructure. So Caspian's intensity is the floor, and the central figure sits above it at ≈145 tCO₂e/₹Cr.
₹12,002 Cr × sector intensities = ≈1.74 Mt central, within a 1.4–2.4 Mt band. Every screen carries the Illustrative chip. A pilot replaces the whole thing with borrower-level data at PCAF score 2–3.
From here
One bounded pilot, on the book where the data is already yours and the claim already lives.
What you leave the pilot with
Measured once, it reports to everyone who asks. That is Carbon-OS.