25 September 2020
SGV & Co., a member firm of Ernst & Young and the Philippines' largest multidisciplinary professional services firm, today formalized its collaboration with the Plastic Credit Exchange (PCEx) to conduct periodic audits of the environmental non-profit's plastic offset and credit operations.
At a signing ceremony held online, SGV & Co. committed to ensuring that PCEx would abide by its plastic crediting standards, where the latter would continuously bank verified plastic offsets from plastic waste collected by aggregators and repurposed by vetted processors.
"We felt that working with SGV was an integral part of making what we do at PCEx a truly global solution based on trust and confidence. Companies around the world will now be able meet the Certification requirements for Neutrality in their own countries through EY’s Climate Change & Sustainability Services practice”, said Nanette Medved-Po, Founder of PCEx.
SGV Chairman and Managing Partner Wilson P. Tan says, “Managing sustainable operations is a challenge that faces all organizations. We at SGV are pleased to be able to participate in such a worthwhile program that can make a true difference in how the PCEx can drive its sustainability agenda now, in the near future, and beyond, for the benefit of future generations.”
"Sustainability integration is important to future-proof business."
(Quote and photo courtesy of EY Global)
Over the past decade, a new appreciation for the impact of businesses has led companies to expect more detailed and useful reporting of their environmental, social and governance (ESG) efforts; SGV & Co.'s Climate Change and Sustainability Services (CCaSS) practice is equipped with the technical knowledge and capacity to help PCEx and its partners make real, sustainable impact to end plastic waste. SGV & Co. will conduct its audit in accordance with the Philippine Standards on Assurance Engagements 3000 (PSAE 3000), which is the standard for non-financial reporting, and the EY Sustainability Assurance Methodology (EY SAM).
This initiative allows PCEx to embed a transparent and credible approach into its core sustainability initiatives, which unlocks long-term stakeholder value for its business partners, program beneficiaries, and the environment alike.