Acting now to mitigate our climate impact

We have a global commitment in place to reach net zero with 2030 goals. First and foremost, we are reducing our own emissions in line with our near-term science-based targets. In addition, we are taking action to mitigate our impact today through the purchase of high quality carbon credits.

At a minimum, PwC firms purchase carbon credits to counterbalance the scope 1, 2 and scope 3 business travel emissions they cannot eliminate today. We plan to transition our portfolio to 100% removals from FY30 and will regularly review the options and market solutions available to us to deliver on this.

Our commitment to quality

We want to make sure we continue to support quality projects that deliver real and verified outcomes. We’ve put in place quality criteria for our network of firms when they purchase carbon credits. The criteria define standards, types of projects, vintages, portfolio composition, our approach to retiring credits, and require projects to go through due diligence by a third party supplier. Read more about our quality criteria in our 2024 PwC Network Environment Report.

Our current portfolio

Our carbon credit portfolio contains a range of projects in order to manage risk and maximise our impact beyond climate - to support nature and local communities. In FY24, we purchased the majority of our credits (63% of our portfolio) through the LEAF Coalition.1 We joined the coalition in 2021 to help put an end to tropical deforestation, which is integral to respond to the climate crisis. The remainder of our portfolio was sourced from 23 projects across 15 countries.

In total this year, 87% of our portfolio came from projects that protect and restore the environment through natural climate solutions. Projects that remove carbon from the atmosphere (rather than those that reduce or avoid emissions) accounted for 19% of our portfolio. While the majority of the removal projects in our portfolio were nature-based, a number of our firms supported more innovative hybrid or technology-based removals projects too. The scaling of tech-based solutions will be critical to the global transition to net zero. 

You can find more information about the projects we supported in FY24 in the explorer tool below and in the 2024 PwC Network Environment Report

Beyond the LEAF Coalition, the projects we have supported in FY24, alongside others, have collectively impacted over 1.2 million people and created over 34,000 jobs. They have supported the conservation of 970,000 hectares of primary rainforests and peatlands, and supported the reforestation and afforestation of more than 214,000 hectares of forest.


Explore our carbon offset projects

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Leaf Coalition

Ghana

LEAF is a public-private coalition that mobilises finance to help halt tropical deforestation. It is coordinated by Emergent, a not-for-profit organisation. PwC has purchased jurisdictional REDD+ credits from Ghana for FY24 through a deal announced in December 2023, with credits pending issuance later this year. For the past few decades, unsustainable logging and mining, infrastructure development, and cocoa farming expansion have continuously shrunk Ghana’s natural forest cover. The government is currently confronting these challenges through aggressive afforestation programs, aiming to simultaneously reclaim degraded lands and funnel direct financial benefits to sustainable, local land management approaches. The LEAF Coalition uses the independent ART TREES standard, which specifies requirements for the quantification, monitoring, reporting and verification of GHG emission reductions and removals from REDD+ activities at a large jurisdictional scale. In line with the Cancun Safeguards, ART TREES upholds the right of Indigenous stakeholders to participate in the design and implemenation of REDD+ actions.

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Certification: ART-TREES
SDGs:

Doyon Native Community Forest Project

US

The Anew - Doyon Native Community Forest Project spans 172,737 acres of boreal forest across Alaska’s Yukon-Koyukuk and Southeast Fairbanks boroughs. It supports the region through community initiatives, scholarships, professional development, and land stewardship. The project area around Healy Lake is crucial for protecting the Volkmar and South Fork Goodpaster rivers from erosion and runoff due to excessive forest harvesting. Notably, this project covers part of the world’s largest unimpacted boreal forest, providing critical habitat for various Alaska species, including the endangered Eskimo Curlew, which hasn’t been sighted in over 55 years.

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Certification: ACR
SDGs: 4,6,11,13

La Norteñita IFM

Mexico

The La Norteñita Forest Carbon project aims to restore a pine-oak forest that includes a substantial population of stone pine and other species. The project focuses on conserving the flora and fauna found in the forest, including black bears, pumas, and deer. Additionally, it recognises the importance of conservation for aquifer recharge.

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Certification: CAR
SDGs: 3,8,13,15

Katingan Peatland Restoration and Conservation Project

Indonesia

Indonesia is home to around 14 million hectares of peatlands – making up approximately 23% of the world’s total tropical peatlands. Over the years many peatlands have been drained to provide land for industrial plantations of palm oil, paper and rubber leaving vast areas of peatland dried out. These practices are a key cause of biodiversity loss and wetland subsidence. In it's natural state, tropical peat occurs in flooded swamps and is one of nature's most effective ways of removing carbon from the atmosphere. This project works to protect 149,800 hectares of peatland and preserve precious biodiversity including a habitat for many endemic species. The project is taking a community-led agroforestry approach which means that the 4,433 hectares being reforested are to provide both restoration and support for the local communities and their livelihoods.

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Certification: VCS & CCB
SDGs: 13,14,15

Chudu Afforestation Project

China

This project is implemented on desertification lands in Xichuan County, China, an area where no natural renewal and reforestation was happening before the launch of this project. The aim is to increase carbon sequestration, enhance biodiversity conservation, and improve soil and water quality while contributing to local sustainable development. The project has so far increased up to 36,500 hectares of forest cover and 33,000 community members are expected to be full time employees of the project, with women making up 70% of the employed.

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Certification: VCS & CCB
SDGs: 4,5,8,13,15

Huadu Afforestation Project

China

The Huadu Afforestation Project in Bijie City, Guizhou Province, China, planted 43,600 hectares of forest on barren lands. It aims to sequester greenhouse gases, enhance biodiversity, improve soil and water conservation, and generate income for local communities. The project is expected to reduce GHG emissions by 21,072,163 tCO2e over 30 years, with an average annual removal of 702,405 tCO2e.

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Certification: VCS
SDGs: 3,8,13,14,15

Rimba Raya Biodiversity Reserve Project

Indonesia

Located on the Indonesian island of Borneo, the Rimba Raya REDD+ project focuses on the preservation of carbon-dense tropical peat swamp. The initiative helps to stop the deforestation of roughly 65,000 hectares of forest which was originally at risk of development to palm oil plantations. The project is also impacting local communities by providing employment opportunities through the generation of full-time conservation jobs, access to medical care, clean water and free water filtration systems across 9 local villages and providing Community Enterprise Grants that provide technical support to women to own and operate sustainable agriculture business'.

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Certification: VCS & CCB
SDGs: 6,8,12,13,14,15

Selva Maya IFM bundle

Mexico

The Pozo Pirata Ejido is situated in José María Morelos, Quintana Roo, Mexico. Covering 4899.52 hectares, it implements a timber forestry program on 2,500 hectares. The area features a Medium Subevergreen Forest, with tree canopies covering over 50% of the land and dominant trees reaching an average height exceeding 16 meters.

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Certification: CAR
SDGs: 3,8,13,15

TIST Program in Kenya

Kenya

Deforestation is a major cause of poverty and climate change in Kenya, India, Uganda and Tanzania. TIST (The International Small Group Tree Planting Program) works with smallholder and subsistence farmers to organise themselves into community groups to plant trees on their degraded land to improve their livelihoods and address local, regional and global environmental issues such as deforestation, biodiversity loss, adaptation and vulnerability to climate change. In addition to education and awareness on deforestation and climate change, the project supports the communities in raising awareness of health issues such as HIV, malaria and other diseases. Currently over 50,000 TIST participants in over 6,900 Small Groups are registered in the TIST program in Kenya and are working to break their local cycle of deforestation, drought and famine. The trees planted in tens of thousands of discrete groves and land parcels are already beginning to reduce erosion, stabilise and enrich the soil, and will soon be providing shade.

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Certification: VCS & CCB
SDGs: 1,2,3,5,6,7,13,15

Unitor REDD+ Project

Brazil

A consortium of 15 neighbouring properties joined together for this REDD+ Project, comprising 99,035 hectares of forest area. This region has previously experienced extensive damage due to deforestation and land-use changes provoking unrest and social conflicts. The project aims to conserve and protect forest and biodiversity, create new employment opportunities linked to forest management and provide participants with new sources of income.

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Certification: VCS
SDGs: 4,8,12,13,15

Manoa REDD+ Project

Brazil

Over the last decade the Amazon forest has suffered from rapid conversion of its rainforest to agricultural landscapes. In the state of Rondonia, the local area is impacted by illegal logging activities which threaten an already fragile ecosystem. Implementing and maintaining a sustainable forest management plan to preserve the 73,000 hectares of forest is urgent. Manoa is of paramount importance in terms of landscape connectivity, as it is close to conservation units and provides shelter for several threatened species.

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Certification: VCS
SDGs: 1,4,8,13,15

Delta Blue Carbon

Pakistan

Pakistan hosts one of the world’s largest mangrove ecosystems, covering 0.6 million hectares. However, human activities threaten this vital ecosystem, which plays a key role in climate change mitigation and supports various species. In Sindh province, where the project has been ongoing since 2015, efforts aim to protect 102,000 hectares of existing mangrove forests and restore an additional 225,000 hectares. Over its 60-year duration (2015-2074), the project will remove 142,050,139 metric tons of CO2 equivalent from the atmosphere and enhance living conditions for 43,000 people in the region

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Certification: VCS & CCB
SDGs: 3,4,8,13,14,15

Biochar USA bundle

US

Paper production and consumption have a significant ecological impact, using 14% of the world’s wood harvest and contributing to waste management issues and GHG emissions from burning paper. Biochar USA addresses this by managing pulp and paper mill waste to create biochar from pine bark using a pyrolysis thermal combustion system. This biochar, produced with minimal emissions, is supplied to local farmers for improving grass yields and land remediation, while also helping to remove carbon from the atmosphere.

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Certification: Puro
SDGs: 3,8,13,15

Obio Biochar Project

Norway

The Obio Biochar Project operates a modern pyrolysis plant in Rudshøgda, Norway. They use wood chips from a nearby forestry company to produce biochar with a 92% carbon content. For every ton of biochar, 3 tonnes of CO2 are sequestered. Their biochar finds applications in animal litter, feed, and even urban projects like replacing concrete.

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Certification: Puro
SDGs: 3,8,13,15

Nordgau Germany Biochar

Germany

The Nordgau Germany Biochar Project produces high-quality biochar, which contains 89% carbon. This biochar is used to improve soil when mixed with manure or compost. It sequesters 2.8 tons of CO2 per metric ton for centuries. Certified by the European Biochar Certification (EBC), Nordgau primarily sells biochar to local farmers and neighboring countries. Their sustainable process considers emissions through a Life Cycle Assessment (LCA) audited against the Puro methodology.

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Certification: Puro
SDGs: 3,8,13,15

Sylvia Fertilis French Biochar Project

France

Wood pellets, commonly used as feedstock, release CO2 when burned, contributing to global warming. The combustion process emits between 150-190 grams of CO2 equivalent per megajoule (gr. CO2 e/MJ). The Sylvia Fertilis French Biochar Project in Argentan, Normandy (France), aims to produce biochar from wood pellets. These pellets are sourced from a manufacturer near Reims in eastern France, using timber from sustainably certified forests. The process yields two granularities of char: 0-1 mm and > 1 mm. Some biochar is used for soil improvement, while the rest is sold to municipalities, farmers, golf courses, wine producers, and forestry operations. This approach enriches soil and captures more CO2.

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Certification: Puro
SDGs: 8,13,14,15

Explocom Biochar Project in Romania

Romania

In Romania, burning wood waste for feedstock releases CO2 and other pollutants. To address waste management issues, Explocom produces biochar, a soil enhancer that reduces the need for carbon-heavy fertilizers. The company, certified for sustainable production, sells biochar to Romanian and Hungarian farmers. A 2022 lifecycle assessment verified that Explocom’s process removes 2.47 tonnes of CO2 for every ton of biochar produced, aiding climate and environmental protection.

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Certification: Puro
SDGs: 3,6,8,13,14,15

Renewable Solar Arise Project

India

This solar project in India aims to generate clean electricity using renewable solar energy. It involves installing two 50 MW solar projects across different states through Special Purpose Vehicles (SPVs). Over the initial 10-year crediting period, the project will replace approximately 246,600 tons of greenhouse gas emissions annually, displacing 263,238 MWh/year of electricity from fossil fuel-based power plants connected to the Indian grid.

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Certification: VCS
SDGs: 7,8,9,11,13

Mekong River Delta Water Purifier Bundle

Vietnam

The project aims to distribute water purifiers in the Mekong River Delta, Vietnam, to reduce woodfuel consumption among traditional stove users. By doing so, it contributes to public health improvement, climate change response and sustainable development. The long-term goal is to reduce deforestation and greenhouse gas emissions caused by woodfuel burning, with an initial target of disseminating 600,000 SDWPs in the Mekong River Delta Provinces.

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Certification: VCS
SDGs: 1,3,7,8,13

Western Kenya Borehole Rehabilitation Project

Kenya

Water access challenges persist in West Kenya due to limited infrastructure, inadequate sanitation and waterborne diseases. Seasonal variation worsens water scarcity, disproportionately affecting women and girls who bear the burden of water collection. The Western Kenya Borehole Rehabilitation Project aims to identify and restore non-functional boreholes across various Western Kenyan counties. By enhancing community capacity for borehole maintenance and enabling a consistent water supply, the project empowers local communities. It collaborates with government bodies and community groups, focusing on emission-free technologies such as hand-powered and solar pumps. This approach not only reduces deforestation but also contributes to climate change mitigation. Approximately 136 boreholes are targeted for rehabilitation, avoiding 60,000 tCO2e per year and providing additional co-benefits.

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Certification: GS
SDGs: 3,5,8,13,15

Small Scale Renewables Bundle

Cambodia

A 5 MW solar power project in Kampong Thom Province, Cambodia, supplies electricity to third-party consumers via the Kampot-Sihnouk Grid. By replacing grid electricity, the project reduces CO2 emissions from grid-connected power plants.

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Certification: VCS/GS
SDGs: 7,8,9,11,13

Promoting Improved Cooking Practices in Nigeria

Nigeria

In Nigeria, 44% of the population lives below the poverty line. Due to the lack of access to clean cooking technologies many are left to use traditional cookstoves that lead to women and children travelling long distances to collect wood and pollutants entering the atmosphere. Not only this but traditional cookstoves are inefficient, requiring larger quantities of wood and coal to fuel them. This project distributes improved cookstoves throughout Nigeria that consume less wood, consequently reducing deforestation on a territorial scale, reducing the amount of smoke emitted, improving the health of its users and lowering the cost of purchasing charcoal and wood to fuel the cookstoves.The use of an improved cookstove can provide a family with a sustainable and cost-effective alternative for their daily cooking and heating needs.

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Certification: GS
SDGs: 3,7,8,13,15

Houji Solar Cooker Project

China

The project aims to distribute 50,000 solar cookers to rural households in Zhenping County, Henan Province. By replacing coal-fired stoves, it reduces greenhouse gas emissions, air pollution, and health risks while providing an efficient alternative for daily cooking and water boiling.

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Certification: GS
SDGs: 3,7,8,13

Methane Recovery Project The Netherlands

Netherlands

In the Dutch Provinces of North Brabant and Limburg, animal methane capture and power generation address the challenge of managing manure from concentrated swine farms. This rural region faces nitrogen absorption limits due to extensive agricultural operations.

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Certification: VCS
SDGs: 3,7,8,13,15

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Colm Kelly

Colm Kelly

Global Corporate Sustainability Leader, PricewaterhouseCoopers International Limited

Bethan Grillo

Bethan Grillo

Managing Director, Global Corporate Sustainability, PricewaterhouseCoopers International Limited