PwC China and Standard Chartered China signed a strategic co-operation memorandum today. The two parties will leverage their advantages to establish an all-round, multi-level co-operation in green and sustainable finance and related business fields across the country, with the Greater Bay Area as the strategic key area. The co-operation aims to innovate the value chain of sustainable finance-related services.
Qing Ni, PwC China ESG Markets Leader, and Jean Lu, Deputy CEO and Head of Corporate, Commercial & Institutional Banking of Standard Chartered China, signed the memorandum on behalf of both parties. Amy Cai, PwC China ESG Managing Partner, and Jerry Zhang, Executive Vice Chairman and CEO of Standard Chartered China, Cluster CEO (China and Japan), witnessed the signing ceremony.
Under the new normal, more companies are resetting their business mission from maximising shareholder value to maximising social benefits. China is also steadily advancing the construction of a green finance standard system and encourage financial institutions to actively develop green finance. PwC is honoured to partner with Standard Chartered and contribute towards China’s dual 30·60 carbon goals.
The perception of ESG in China's capital market is undergoing a significant shift. Leading companies are paying more attention to the impact of their business on climate change. Domestic and foreign institutional investors are actively practicing responsible investment, representing shareholder propositions, and promoting companies to improve their ESG performance. It can be seen that all parties in the market are actively taking on measures to promote green development.
As the best supporting organisation for the Green Investment Principle (GIP) of the Belt and Road, and a global leader in sustainability and ESG business services named by Verdantix, an independent analyst firm, PwC is committed to supporting businesses, governments and society sustain efforts to building a decarbonised economy. We are also helping clients to grasp new opportunities in the green economy and build a sustainable future together. Meanwhile, PwC is taking tangible actions to demonstrate our commitment to delivering sustainable outcomes, with a commitment to achieve net zero greenhouse gas emissions by 2030.
Standard Chartered has committed to mobilising US$300 billion in green and transition finance by 2030. We have been rooted in the Greater Bay Area for more than 160 years. The sustainable development of a green economy in the Greater Bay Area has many advantages in terms of green infrastructure, policies and market mechanisms. It is an honour to partner with PwC, one of the world's leading professional services firms, and we can see Greater Bay Area becomes a strategic key area to establish a sustainable financial ecosystem through innovative cross-industry cooperation models. I believe the cooperation will provide our clients with one-stop sustainable financial products and consulting services.
PwC believes the signing of the strategic memorandum is of great significance and marks the unremitting efforts of two global leading companies to jointly building a sustainable financial ecosystem. The two parties will leverage their strategic advantages and innovate the value chain of sustainable finance-related services, attained by establishing an all-round, multi-level co-operation in green and sustainable finance and related business fields.