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. 

_{¹LEAF Coalition, 2022}