The Partnership for Carbon Accounting Financials (PCAF) launched the first global measurement standard for greenhouse gas (GHG) emissions in November 2022. Insurance-associated emissions are a type of Scope 3 emissions associated with an insurer or reinsurer's underwriting activities, and represent a significant part of the environmental impact for (re)insurers. Despite the importance, the industry has historically been slow in calculating these emissions due to a lack of guidance. A new guide from The Prince’s Accounting for Sustainability Project (A4S) is designed to empower finance teams to adopt frameworks such as PCAF, helping to establish baselines and make decisions aligned with their net zero goals. One of the key contributors to this guide is Allianz, who is working to understand the emissions of its existing portfolios and establish a reference point from which to chart a pathway to net zero emissions. This presentation sets out how Allianz developed an internal methodology to set its emissions baseline, building upon the PCAF Standard. It includes the steps the group took, including upskilling the team, outlines its next steps and offers key takeaways from the finance team.