Taking a stance on climate change, New York-based Big 4 firm PwC has laid out a goal to achieve net zero carbon energy from its global operations by 2030. The firm’s internal plans revolve around sustained reductions in travel and an increased use of zero carbon energy, while its wider efforts will include working with clients to reduce their carbon emissions as well.
Specifically, PwC is looking to reduce its total greenhouse gas emissions by 50% in absolute terms over the next decade. This includes a switch to 100% renewable electricity in all territories, as well as energy efficiency improvements in its offices, and halving the emissions associated with business travel and accommodation. The firm notes that emissions associated with flights alone currently represent around 85% of its total carbon footprint, and the pandemic-related shift to remote working has accelerated its longer-term transformation in this area.
Externally, PwC plans to infuse science-led climate analysis into its areas of service. For example, the firm’s advisory practice is integrating climate risks into its engagements, providing clients with information about climate risks and opportunities and helping them to transform their business processes. The firm will also focus on integrating climate-related factors into mainstream corporate disclosures and governance, and its tax practice will help clients understand how net zero transformation can impact tax strategy, transparency and compliance obligations, subsidy and incentive opportunities, and revenue impacts.
“Businesses and economies must evolve quickly to address the significant challenges facing our societies and our planet,” says PwC global chairman Bob Moritz. “A net zero world is within reach. Getting there will take innovation, hard work, collaboration and bold thinking, but the benefits will be immense. The business community has a responsibility to act and we are determined to play our part, not just in our own operations and supply chain, but also in the way we advise and support our clients to create a sustainable world for future generations.”