25 April 2022 PwC China has signed a strategic cooperation agreement today at a virtual signing ceremony with CDP, the world’s largest carbon disclosure authority, becoming a gold partner in CDP’s Carbon Disclosure Project and Science-based Targets Initiatives and working together to provide professional services in low carbon transition for clients in markets in Mainland China, Hong Kong, Macau, and Taiwan. PwC China is the first accounting firm to reach a strategic cooperation with CDP. PwC China and CDP will leverage their respective strengths to establish all-round cooperation in carbon disclosure, aiming at helping organisations to accelerate their low-carbon strategies and their transition to green and low-carbon business models.
Promoting green and low-carbon development is the key to sustainable development. PwC has a long history of supporting organisations, government and society to achieve a decarbonised future and fight against climate change. ESG sustainability is one of five investment areas for PwC China under our "New Equation" strategy. We are honoured to work with CDP to help achieve the dual 30·60 carbon goals.
Carbon disclosure is fundamental to building a sustainable and green future. CDP boasts massive data on and expertise in carbon disclosure, while PwC is the world's leading professional services firm and a leader in sustainability. Together, we will help organisations to formulate sustainability strategies and long-term plans for addressing climate change, and help them improve ESG performance and build a truly sustainable economy.
Amy Cai, PwC China ESG Managing Partner and Donald Chan, Managing Director of CDP Asia Pacific attended the signing ceremony and delivered speeches on video. Chenny Feng, PwC China Climate and Sustainability Senior Manager, hosted this virtual signing ceremony. Tingcun Han, PwC China ESG Reporting Partner, and Fei Li, Deputy Director of CDP, signed the agreement on behalf of both parties. Qing Ni, PwC China ESG Markets Leader, and Flora Wu, Director of CDP witnessed the virtual signing ceremony. Sammie Leung, PwC Hong Kong Climate and Sustainability Partner, Mendy Wang, PwC China Climate and Sustainability Partner, Qian Wu, PwC China Climate and Sustainability Partner and Lit Low, PwC China Climate and Sustainability Partner also attended the signing ceremony on video.
Fei Li, Deputy Director of CDP (middle right) represented CDP to sign on the strategic agreement. Flora Wu, Director of CDP (bottom right) witnessed the virtual signing ceremony.
Qing Ni, PwC China ESG Markets Leader (left), Tingcun Han, PwC China ESG Reporting Partner (middle), Qian Wu, PwC China Climate and Sustainability Partner (right)
All guests from PwC China and CDP attended virtual signing ceremony. Amy Cai, PwC China ESG Managing Partner is at the second place from the right side of the second row, Donald Chan, Managing Director of CDP Asia Pacific is at the first place of the right side of the third row.
Carbon emissions are critical to ESG sustainability disclosures. They are important for achieving China’s dual goals of peak carbon by 2030 and carbon neutrality by 2060.
Carbon disclosure enables organisations to better manage climate risks and emission reduction policies. It also supports better pricing in emissions markets. Quality carbon disclosure allows the public to ensure that organisations are achieving their carbon reduction goals. In 2021, over 13,000 companies worth over 64% of global market capitalisation, disclosed environmental data through CDP, with over 2,000 coming from China.
PwC believes the business community has a key role to play in tackling climate change. And PwC is determined to play its part. That is why PwC has made a worldwide science-based commitment to reach net zero greenhouse gas emissions by 2030. The commitment includes supporting its clients to reduce their emissions as well as reducing those from PwC’s operations and suppliers. In July 2021, the Science Based Targets initiative (SBTi) validated PwC’s targets to reduce greenhouse gas (GHG) emissions. The SBTi is a partnership between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi call to action is one of the We Mean Business Coalition commitments.
PwC China will work with CDP to guide organisations through the carbon disclosure process. PwC will also advise organisations on their broader ESG needs, improve their management of carbon emissions and assets, and assist their sustainable development.
The addition of PwC into our network of accredited solutions providers will bring highly valued expertise to the thousands of companies using CDP to disclose their environmental data, and support them to implement leading actions to manage their risks and reduce their impacts. We are confident that PwC’s capabilities will be useful, and we are glad to accredit them as a valued, high-quality service provider.
CDP has long-standing experience with PwC as a CDP Gold climate change and SBT consultancy partner in Greater China. Their services and expertise help companies to develop credible strategies for transforming their business models to align with a 1.5°C, net-zero economy.
As the best supporter of the "Belt and Road" Green Investment Principles (GIP), and a global leader in sustainability and ESG business services named by Verdantix (an independent analyst firm), PwC is committed to achieving net-zero greenhouse gas emissions globally within 2030, and practicing sustainable development. It helps clients with low-carbon transition, sustainability strategies, ESG reporting and assurance, climate change, responsible investment, green finance, and other areas. It has developed carbon neutral management solutions and a variety of digital tools to help organisations in this area.
CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. Voted number one climate research provider by investors and working with over 650 institutional investors with assets of over US$110 trillion, we leverage investor and buyer power to motivate companies to disclose and manage their environmental impacts. Over 13,000 companies with over 64% of global market capitalization disclosed environmental data through CDP in 2021. This is in addition to more than 1,100 cities, states and regions who disclosed, making CDP’s platform one of the richest sources of information globally on how companies and governments are driving environmental change. CDP officially entered China in 2012 and is committed to providing a unified environmental reporting platform. CDP is a founding member of the We Mean Business Coalition. Visit www.cdp.net or follow us @CDP to find out more.
ESG Markets Leader, ESG - Climate and Sustainability Lead Partner, PwC China
Tel: + (10) 6533 2599