Plastic Credit Exchange enters into cooperation agreement with PwC

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, shares: “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.”

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.

Ends

Notes to editor

© 2020 Plastic Credit Exchange, Isla Lipana & Co.  All rights reserved. 

About PCEx. Plastic Credit Exchange (PCEx) is a Philippines-based non-profit organization that partners with sustainability-conscious businesses around the globe to responsibly offset their plastic footprint, and reduce the flow of plastic waste into our landfills and oceans. 

​PCEx has built a wide ecosystem of collaborators that recover, process and recycle plastic waste, and continuously seeks out the most environmentally and sound solutions to plastic waste reduction. PCEx supports environmental protection with programs that improve livelihoods and scale up social impact. (Website: www.plasticcreditexchange.com)

About PwC Philippines. At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with over 276,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

Isla Lipana & Co. is the Philippine member firm of the PwC global network. Among the auditing firms in the Philippines, Isla Lipana & Co./PwC Philippines has the longest affiliation with a major global accounting firm that dates back to 1958. The firm has rendered professional services in the Philippines for 98 years.