Plastic Credit Exchange enters into cooperation agreement with PwC

2 October 2020

On 30 September, Isla Lipana & Co./PwC Philippines (PwC) entered into an agreement with Plastic Credit Exchange (PCEx) to provide a framework for cooperation and facilitation between PCEx and its partner companies, enabling them to purchase audited plastic credits to offset their plastic waste.

PwC pledged to assess PCEx's plastic crediting procedures, identifying areas of improvement and ensuring they consistently adhere to the principles detailed on the Plastic Neutral Pact, the first known open standard for plastic neutrality released by PCEx earlier in the year.

"Being able to cooperate in partnerships with trusted auditing firms like PwC means that we have the opportunity to elevate environmental protection from mere compliance to actual business strategy," said Nanette Medved-Po, Founder of PCEx. "There are benefits to be earned from delivering measurable action and true environmental impact."

Alexander B. Cabrera, Chairman and Senior Partner at PwC Philippines, shared: “Across the PwC global network, we launched our Net Zero Commitment to reduce our total greenhouse gas emissions by 50% in absolute terms by 2030. The COVID-19 pandemic has accelerated lifestyle shifts, giving rise to challenges that affect the planet. This joint effort with PCEx would greatly help us in doing our part for a net zero future.”

"There is an opportunity to build a more sustainable and resilient future

in which all people can thrive" (Quote and photo courtesy of PwC strategy + business)

Driving transparency and accountability to PCEx's plastic offset and plastic neutral partners as well as its broader stakeholder group is so important. PwC's purpose-led reporting will provide consistent, rigorous, and independently verified reporting that will allow PCEx's commitment to its principles to be accurately assessed.

This partnership unlocks maximum transparency for PCEx partners and stakeholders, which alongside other third-party auditors' assessment reports, will empower PCEx to award Plastic Neutral Certifications to its plastic neutral partners.

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