We’ve made a worldwide commitment to achieve net zero greenhouse gas (GHG) emissions and set near-term science-based targets. We’re decarbonising the way we operate and decoupling our business growth from our emissions. Our global strategy commits us to also increase transparency, and help to develop robust sustainability reporting frameworks and standards. A key part of our commitment is making sure we are doing what we can to limit our own impact on the environment and lead by example. Our global reach means we can play an important role in driving the transition to a net zero economy.
Decarbonising our operations and supply chain
We are transitioning our business in line with a 1.5°C climate scenario. We are working to decarbonise our operations and supply chain as well as adapt our business to the risks and opportunities presented by a net zero future.
We’re supporting our clients and suppliers to transform their businesses to achieve net zero. We also recognise the importance of actively reducing the climate impact of our own operational footprint - including scope 3 emissions.”
Our decarbonisation targets
Our near-term science-based targets are aligned with a 1.5°C climate scenario and have been validated by the SBTi. Our targets are to:
Reduce scope 1 and 2 absolute emissions by 50% from a FY19 base by FY30
Transition to 100% renewable electricity in all territories by FY30
Reduce absolute business travel emissions by 50% from a FY19 base by FY30
Commit that 50% of our purchased goods and services suppliers (by emissions) have set science-based targets to reduce their own climate impact by FY25
In addition, we will continue to offset those scope 1, 2 and scope 3 business travel emissions we cannot reduce today through high-quality carbon credits, and plan to transition our carbon credit portfolio to 100% carbon removals from FY30. We will regularly review the options and market solutions available to us to deliver on this. Explore more about our commitments in our 2024 PwC Network Environment Report.
Evolving our services for a more sustainable future
One of the most important roles we will play in the global transition to a sustainable future is to help our clients understand and navigate the challenges they will face from the environmental agenda.
This evolution of our service offerings continues to be a central pillar of our environment strategy. It goes to the heart of our own business transformation journey, as we work to remain at the leading edge of what our clients need.
We go about this in two ways. First, we’re adapting our core services to embed consideration of climate change and other sustainability matters into what we do. Whether that’s building our sustainability assurance capabilities, considering climate risk in due diligence processes in deals, or considering green tax incentives in our tax services.
Second, we are also building and scaling new services. Our sustainability practice brings together a global community of sustainability and sector specialists, empowered by technology solutions and data insights which means we can help clients across a range of sustainability challenges.
Helping shape and accelerate the global climate and policy agenda
More needs to be done to reduce our collective impact on the world and build resilience for the risks we are already facing.
But some of that requires systemic change. Having a common set of frameworks, definitions, methodologies for target-setting and measurement, and reporting standards is essential - so that all organisations are enabled to transition, and can do so in an aligned way. The absence of these is a barrier to the progress that is needed.
This is where we are collaborating with governments, business, and civil society groups to contribute our expertise to support the development of this common foundation, and to advocate for accelerated change.
We contribute our expertise to support the development of the new frameworks and standards needed that will support the global transition. Among other things, we are members of the Task Force on Climate-related Financial Disclosures (TCFD) and the Taskforce on Nature-related Financial Disclosures (TNFD). Beyond that we contribute to debates at key global events such as COP, Davos, New York Climate Week and the Global Solutions Summit to support measures that will address the environmental crisis we see looming large.
We also launched the Centre for Nature Positive Business. We are working with a range of clients across sectors and industries to help them act on their ambitions of developing and putting nature-positive strategies into place, reporting on their nature-related impacts, risks and dependencies, and transforming in ways that embed nature as a priority.
For more on how we're helping to shape and accelerate the global policy agenda, explore our 2024 PwC Network Environment Report.
Understanding the impacts of climate change on our business
We have an ongoing programme to identify, understand and address the strategic risks and opportunities for our business that arise from climate change. Learn more about how we see climate affecting our business and the steps we are taking to adapt and transform in response.
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Colm Kelly
Global Corporate Sustainability Leader, PricewaterhouseCoopers International Limited
Global Corporate Sustainability Managing Director, PricewaterhouseCoopers International Limited