Create Connections For Life

We are very proud to announce that EY is officially carbon negative – a major step on our journey to net zero in 2025.  EY reached carbon negative by significantly reducing emissions in line with our science-based target and offsetting and removing more carbon than we emit. Our carbon ambition now has the effect of removing carbon from the atmosphere instead of adding to it. And our seven-point action plan will continue to reduce our emissions even more as we head toward net zero in 2025. “This is an important moment for EY and one we can all be very proud of,” says Global Chairman and CEO Carmine Di Sibio. “Our carbon ambition is a prime example of how we are Building a better working world by acting now to protect and preserve our planet. Throughout our journey, we’ve been inspired by the many EY people who are leading the change by reducing their personal impact on the climate.”  “As a member firm of Ernst & Young Global Limited, SGV & Co. will further strengthen our own carbon reduction and sustainability programs, through SGV’s Sustainable Actions for Value-creation and Enablement (SAVE) Council, to align closely with EY’s carbon-negative ambition. With EY’s quantifiable and actionable science-based targets, our over 5,000 professionals will be further inspired to find creative approaches to making a sustainable difference that will redound to future generations. This program also falls within the ambition of SGV’s Purpose to create long-term value for stakeholders,” says SGV Chairman and Managing Partner Wilson Tan. EY’s journey to net zero began when we launched our carbon ambition in January, committing to become carbon negative in FY21 and reach net zero in 2025. This built on our carbon neutral achievement in December 2020.  Achieving net zero  We continue to reduce emissions through our seven-point action plan Thanks to EY’s action plan, EY’s global FY21 emissions reduced by 60% compared to FY20 – a 71% decrease from the FY19 baseline year. Reduced business travel, due to the COVID-19 pandemic, was a significant contributor. However, even as EY people return to offices and resume business travel, emissions will remain within our science-based target range. This means EY will remain carbon negative as we work toward net zero in 2025, and beyond. We invest in nature-based projects that offset the emissions we cannot eliminate EY works with South Pole, a leading global climate solutions provider, to invest in worldwide projects that offset or remove carbon through reforestation, regenerative agriculture, biochar and forest conservation.  “While we recognize our emissions are small on their own, we will use our own experience, market-leading services and solutions to support others decarbonize, and help them protect and create value from becoming more sustainable,” says Global Vice Chair – Sustainability, Steve Varley. “We also use our convening power to be a catalyst for change by working together with others – including at the forthcoming UN COP26 summit in Glasgow, UK where we believe EY has a critical role to play in translating the COP26 agreements into business.”

On 26 August 2021, we celebrated the 100th birth anniversary of Alfredo M. Velayo who, together with his lifelong friend Washington SyCip, founded and built SGV & Co., where the best and brightest professionals work towards building a better Philippines.In recognition of his contributions to the practice of accountancy in the Philippines and in shaping the careers of generations of business professionals, we produced this video tribute which we are now sharing with all visitors to this site for a limited time.

Charlie was born on October 27, 1936 in Shanghai, China. At the age of 18, he graduated from the University of the East, magna cum laude, and placed first in the 1955 CPA board examinations. Upon graduating, he joined SGV & Co. where he started as a junior auditor. He would later obtain his MBA from New York University as a Smith-Mundt-Fulbright Scholar. He also completed the Advanced Management Program in Harvard University. He was admitted to the partnership in 1965. In his 44 years in SGV, Charlie assumed many leadership roles. He brought SGV key professionals to help develop The SGV Group's operations in Taiwan and Korea. Thereafter, he served as regional technical partner and partner-in-charge of quality assurance for the offices in Singapore, Malaysia, Indonesia, and Thailand. He headed the coordinating office of The SGV Group from 1975 to 1978. He led SGV's Audit Division from 1992 to 1995. He headed the Firm's Accounting and Auditing Standards Group, concurrently as Practice Director. He assumed the position of Vice Chairman in 1993, Managing Partner in 1995, and SGV Chairman and Managing Partner in 1996. He also served as Chairman of the SGV Foundation. After retiring from SGV in 1999, Charlie was invited to sit as Independent Director on several boards of companies and was appointed Commissioner of the Energy Regulatory Commission. Globally recognized as an authority on Philippine Accounting Standards, he was the first chairman of the Financial Reporting Standards Council, and the chairman of its predecessor, the Accounting Standards Council from its creation in 1981. He wrote several published articles on accounting standards and was a co-author of an accounting textbook, Intermediate Accounting:Applying International Financial Reporting Standards Philippine Edition. The accounting profession has benefitted profoundly from his lifework in Philippine Financial Reporting Standards. Charlie was a past president of the Philippine Institute of Certified Public Accountants (PICPA) and the Confederation of Asian and Pacific Accountants (CAPA). He also served as a council member of the International Federation of Accountants (IFAC) and for five years as a member of the International Audit Practice Committee (IAPC) of IFAC. For his immense contributions to the Philippine accounting profession, he was elected to the PICPA Hall of Fame and given the prestigious The Outstanding Filipino (TOFIL) Award. Charlie will always be remembered for his wit, clarity of thought, strong convincing power, and courage to express honest dissent. His leadership style was pragmatic and harmonious. Throughout his life, he showed loyalty to and deep affection for SGV. A true steward, Charlie blazed a trail of excellence - a legacy to inspire current and future generations of professionals.