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Asia Pacific’s time for the Sustainabilty revolution
Asia Pacific is a centre of growth and urbanisation. It is shaped by abundant biodiversity and plays a critical role in the global supply chain. This means that it is poised to address the climate crisis and sustainability challenges in ways that are resilient, ambitious and highly inventive. But how well can businesses adapt to a changing world? Success is no longer measured by finances alone. From net zero to the circular economy, from human rights to supply chain resilience, ESG issues will drive transformation – so we can all take bold steps forward.
PwC brings together an unexpected and dynamic combination of talent and technology to help you to drive your sustainability strategy into the heart of your business, making the operational, cultural and financial changes needed to deliver sustainable business advantage and long term value.
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Sustainability matters: Connected opportunities to create significant, sustained value.
Asia Pacific is at an important juncture. The fundamentals that underpinned the region’s dramatic growth over the past three decades may not be sufficient to carry humanity through this era of continuous disruption.
Governments and regulators have started using targets, policy and regulation to shape the markets and make progress at the pace and scale needed to secure the sustainable future of the region. Most Asia Pacific countries have revised their climate targets, and almost a third have Net Zero commitments.
It is not only about climate change or reducing emissions but embedding broader sustainable development goals. There are a plethora of concerns including a just transition to net zero, enabling development considering social & ecological sustainability, changing employment dynamics & maximising inherent opportunities. The challenges that lie ahead for businesses are not only to rethink strategy, investment and business behavior to align with the sustainable goals, but to also assess and evidence their impact.
Sustainability priorities for Asia Pacific
Climate Change: Code Red to go Green
The latest report from the UN’s Intergovernmental Panel on Climate Change (IPCC) finds that greenhouse gas emissions (GHGs) must peak no later than 2025 to avoid the irreversible effects of climate change.
Asia Pacific has a crucial role to play. An increasing share of global emissions will come from the region; its share of global emissions has seen an increase from 35% in 2010 to 39% in 2019. Asia Pacific needs to urgently accelerate decarbonisation.
Net zero transformation ensures that business growth not only benefits the bottom line, but also leaves a lasting legacy for people and the planet.
But governments, businesses and society are not acting fast enough. The global decarbonisation rate in 2021 was the lowest in over 10 years at just 0.5%. This continues to take us further away from what we need to do to limit global warming to 1.5°C above pre-industrial level. A delayed transition in Asia Pacific can be severely disruptive. The time to act is now.
Biodiversity
Asia Pacific is rich in biodiversity found nowhere else on the planet. Nature loss in the region will negatively affect economic activities dependent on nature, with as much as 63% (US$19 trillion) of Asia Pacific’s GDP at risk according to Temasek.
There is potential financial upside from taking up concerted business action to protect nature. Nature-positive development in Asia Pacific could unlock US$4.3 trillion of annual economic value and 232 million jobs by 2030.
The “S” in ESG: Striving for a “just transition”
Two-thirds of Asia Pacific’s workforce are employed informally and as a result, half are surviving on less than $5.50 a day. It is crucial for Asia Pacific to decarbonise while ensuring economic security and protecting the most vulnerable and marginalised groups.
The pandemic has brought a much sharper focus on businesses’ social responsibility, and as we transition to a net zero economy, specific social and economic conditions need to be considered beyond environmental priorities.
For Asia Pacific to achieve a just transition, this involves taking into account the most vulnerable communities, including small businesses, and workers suffering job losses.
Sustainable Finance
The Asia Investor Group on Climate Change estimated that the investment opportunity for Asia’s energy supply to achieve Net Zero is up to US$37 trillion cumulatively from 2020 to 2050.
The capital market, through a combination of incentives and deterrents, is in a unique position to drive meaningful change in sustainability practices in Asia Pacific.
Building sustainable and resilient supply chains
ESG concerns have led to increasing pressures for companies to clean up their supply chains and look deeply at the social, environment and community impacts these supply chains can have. Understanding these impacts can drive improvements to corporate strategy, day to day operations, the value being created in the supply chain, and the values of these supply chain. These all will ultimately have an impact in financial performance.
Building trust through quality ESG reporting
Transparency and accountability have long been the hallmark of investment decision-making.
To attract the right investment to support your ESG journey, the quality, accuracy and completeness of sustainability reporting must meet similar levels of transparency as financial reporting.
Organisations are rising to the challenge. Close to 1,700 companies and organisations in Asia Pacific have signed up to support the Task Force on Climate-related Financial Disclosure (TCFD), accounting for almost half of its 3,400 global supporters (September 2022). In addition, more than 600 companies within the region have signed up to the Science Based Targets Initiative (SBTi).
Start your Net Zero journey and simplify your carbon reporting
PwC at Ecosperity Week 2024
At this year's Ecosperity Week, PwC aims to bolster collective responsibility and commitment among stakeholders to integrate transformative strategies that aid the transition to a nature positive and net zero future. Learn more.
ESG: Defining Asia Pacific's Future podcast series
Hosted by PwC’s Asia Pacific experts in ESG, this podcast takes a close look at Asia Pacific perspectives on ESG trends and issues - what is new, what the future looks like, and why we have to change.
Sustainability research and insights
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Global and Territory Sustainability websites
Join our community of solvers
Our Asia Pacific Sustainability team is looking for more world-class solvers to join our community and make an impact. PwC offers roles as diverse as our teams, in an inclusive and exciting place to work. If you’re interested in being part of #TheNewEquation, we’d love to hear from you.
Asia Pacific Sustainability Team
Ivy Kuo
PwC Asia Pacific Sustainability Leader, Partner, PwC China
Andrew Chan
Asia Pacific Sustainability, Strategy, Transformation, Clients & Markets, PwC Malaysia
+60 3-2173 0348
Jeremy Prepscius
Asia Pacific Sustainability, Sustainable Supply Chains, Managing Director, PwC Hong Kong
+852 6331 6254
Kushal Chadha
Asia Pacific Sustainability, Deals, Private Equity and Sustainable Finance Partner, PwC Australia
Lit Ping Low
Melissa MacEwen
Robert Pedler
Asia Pacific Sustainability, Digital, Managing Director, PwC Australia
Sean Purdie
Asia Pacific Sustainability, Energy Transition, Managing Director, PwC China
Perpetua George
Asia Pacific Sustainability, Biodiversity, Director, PwC Malaysia
Joanna Lovatt
Human Rights, Manager, PwC Singapore
Annabell Chartres
Sustainability Territory Leaders
Jon Chadwick
Energy Transition, Partner, PwC Australia
Amy Cai
Yuliana Sudjonno
Hidetoshi Tahara
Partner, PwC Japan
Andrew Chan
Asia Pacific Sustainability, Strategy, Transformation, Clients & Markets, PwC Malaysia
+60 3-2173 0348
Annabell Chartres
Alexander Cabrera
Partner, ESG Leader, PwC Philippines
Eu-Lin Fang
Partner, Workforce Transformation, PwC South East Asia Consulting, PwC Singapore
+65 9660 5011
Steven Kang
Eliza Li
Paiboon Tunkoon
Hoang Nam Nguyen
Partner, ESG Leader, PwC Vietnam