PwC Thailand commits to a net zero emissions future

Event Calendar Press Releases Thursday October 29, 2020 15:51
Bangkok--29 Oct--PwC Thailand
Join the global network’s aspiration to achieve net zero greenhouse gas emissions by 2030

PwC Thailand is joining its global network’s commitment to reach net zero greenhouse gas (GHG) emissions within the next decade, and will take action to support its clients and suppliers in reducing their impact on climate change.

Chanchai Chaiprasit, CEO for PwC Thailand, said it is fully committed to playing a part in making this worldwide commitment happen by lowering carbon dioxide (CO2) emissions from operations and supply chains, as well as increasing the use of zero carbon energy.

The plan also includes reducing energy and paper consumption, working with green suppliers and installing composting machines in the office to transform food waste into a fertiliser, among others.
"Climate change is among the most pressing issues the world is facing," Chanchai said.
"As part of the Thai and global community, we at PwC must do our part to help mitigate this problem by changing our office behaviour and becoming more socially responsible.

"By changing the way we think around production and consumption, we can make a difference before it’s too late. PwC Thailand is sharing the same aspiration with our network aimed at reducing waste, engaging our staff and stakeholders in environmentally friendly programmes, and helping our clients to reduce their carbon footprint so that we can become a net zero organisation by 2030."

PwC Thailand also pledged to support the business sector, especially listed companies on the Thai bourse, to raise the bar on sustainable practices and sustainability reporting, Chanchai said.

Organisations must set out clear, tangible goals and adopt internationally accepted approaches to integrate sustainability into corporate practices under the environmental, social and governance (ESG) framework, he said.

"When everyone [in the business community] is working towards the same goals under the ESG framework, I believe investors and other stakeholders will see that we’re making efforts that go beyond merely financial. This will be key in driving our economic development to a more sustainable future, both for society and the environment," Chanchai said.

Driving a Net Zero future

In September, the PwC network made a worldwide science-based commitment to achieve net zero GHG emissions by 2030. The commitment includes decarbonising its operations and supply chain, while helping clients and suppliers reduce their climate impact. By doing so, PwC aims to reduce its emissions by 50% within a decade. From 2030, it will eliminate the remainder of its emissions through carbon removal projects.

PwC will achieve this commitment through three main initiatives:

Halve emissions (e.g. switch to 100% renewable electricity in all PwC firms worldwide, drive energy efficiency improvements in all offices, reshape client service models to balance remote and on-site working and reduce air travel)Work with clients (e.g. advance non-financial reporting such as sustainability reports and embed implications of climate change and other ESG factors into client work)Drive public policy discussions (e.g. advance thinking about how to reform the structures of the economy to make them truly socially responsible)

Paiboon Tunkoon, Partner and Corporate Responsibility Leader for PwC Thailand, added that PwC Thailand has operated its CR efforts under the network’s strategy focussing on key areas: community engagement, environment stewardship, responsible business and diversity and inclusion.

This means cultivating and supporting staff to become socially responsible by using their skills, expertise and professionalism to benefit others through a range of activities aimed at giving back to the community.

Aside from supporting projects to decarbonise overall operations and supply chains, Paiboon said the Thailand firm plans other volunteering activities throughout the fiscal year ending 30 June 2021.

For instance, it expects to sign a memorandum of understanding (MoU) for academic cooperation with the Thai Chamber of Commerce and the University of the Thai Chamber of Commerce to support startups and small and medium enterprises (SMEs).

PwC Thailand is also working with the Stock Exchange of Thailand (SET) to arrange in-depth online and offline workshops on advanced education courses related to accounting topics and other business matters for SMEs.

From 30 October to 1 November, partners and staff will visit Kui Buri National Park, Prachuap Khiri Khan province, for the 'Support the Rangers, Save the Forest’ project. Now in its ninth year, the project includes working with park authorities and villagers on forest and wildlife conservation.

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