PwC UN Global Compact Communication on Progress
We’re proud to have been a signatory to the United Nations Global Compact (UNGC) since 2002. We remain deeply committed to the UNGC’s Ten Principles for responsible business practices and steadfast in delivering positive societal and environmental outcomes. By embedding the Ten Principles across PwC’s operations, we hope to continue using our scale, knowledge and skills to make a difference for our broader stakeholders. We value our membership and look forward to continuing to work together to make sure business is a force for good in society.
As part of PwC's strategy, we are working as a community of solvers to bring the best of our people, powered by technology, to help build trust and deliver sustained outcomes at scale. PwC believes that our economies need to be recoupled with societal progress in order to create a more sustainable, equitable and just world, and we are committed to furthering progress towards the Sustainable Development Goals (SDGs), which are critical to addressing the design problems in our economy. After all, business does not prosper in societies that are not prospering.
Social inclusion
Embedding a culture of belonging and equity is a critical step to building trust within our organisation and working together to deliver sustained outcomes for our clients and broader stakeholders.
Across the PwC network, working alongside others and responding to local needs, we are focusing on helping communities to become more resilient now and for the future. Read more here.
We have also committed as a network to support a number of key partnerships to expand our impact. We joined the Valuable 5001 to strengthen disability inclusion in the workplace and have a Global Disability Leader to guide the strategy within our firms. Additionally, we remain dedicated members of the Partnership for Global LGBTI+ Equality2 to advance inclusion and social progress within our workplace and the communities in which we operate.
Environmental sustainability
We have a worldwide net zero commitment with 2030 goals. Our targets cover emissions across our whole value chain, including both direct and indirect emissions across scope 1, 2 and 3. We will also switch to 100% renewable electricity across our network.
In addition to our efforts to decarbonise our business in line with our near-term science-based targets, our PwC firms purchase high-quality carbon credits equivalent to the remaining scope 1, 2 and scope 3 business travel emissions each year that we cannot reduce or replace today.
Our net zero commitment requires us to transform our business model to decarbonise our value chain, increase transparency and support the development of robust sustainability reporting frameworks and standards. We have appointed Net Zero Leaders for every geography where we operate.
Reform and transparency
We believe there is an urgent need for systemic economic reform to reset incentives and align economic interests with societal interests. This conviction is at the heart of our active engagement in global dialogues about the future of corporate reporting. By making it easier for investors and other stakeholders to understand how a company is performing on key societal issues, reporting empowers them to allocate capital and support to organisations that are managing risk effectively and creating sustainable value. Reporting can drive the business transformation needed to address global issues like climate change and social disparities.
We have continued to work with a wide range of stakeholders on the quest to develop a common set of non-financial reporting metrics.
We contribute to the public dialogue with standard-setting bodies, such as the International Sustainability Standards Board (ISSB), EFRAG and the Taskforce on Nature-related Financial Disclosures (TNFD) to help shape standards that will support the global transition.
We have also continued our collaboration with the World Economic Forum International Business Council to promote the universal set of ESG metrics that it published in 2020, and are on our own journey towards increased transparency, which includes reporting on the 21 core and 34 additional stakeholder capitalism metrics in our Global Annual Review.
We continue to engage with major global organisations including the G20, OECD, UN and EU on advancing globally accepted non-financial reporting standards.
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Colm Kelly
Global Corporate Sustainability Leader, PricewaterhouseCoopers International Limited
Global Corporate Sustainability Managing Director, PricewaterhouseCoopers International Limited