Our commitment to net zero

In September 2020, PwC made a worldwide commitment to achieve net zero greenhouse gas (GHG) emissions with 2030 goals. To achieve the commitment all territories need to progress towards net zero. PwC Isle of Man has established a net zero team, with responsibility for the planning and execution of the net zero objective and local territory action plan.

In July 2021 PwC’s targets were independently validated by the Science Based Targets Initiative (SBTi). Our targets are in line with the 1.5-degree scenario to prevent the worst impacts of climate change, as set out in the Paris Agreement. The near-term science-based targets are:

to reduce absolute scope 1 and 2 GHG emissions by 50% by FY 2030 from a FY 2019 base year

to reduce absolute scope 3 business travel GHG emissions by 50% within the same timeframe

transition to 100% renewable electricity in all territories by FY30

that 50% of suppliers by emissions covering purchased goods and services will have science-based targets by FY 2025.

How will PwC Isle of Man become net zero

Across four work streams our net zero team will come together to solve, whilst communicating our net zero commitment to our people, clients and stakeholders and empowering our people to make informed decisions about sustainability.

Measurement and disclosure – A priority is enhancing our non-financial reporting across scope 1, 2 and 3, we will gather our data and quantify our emissions.
Emissions reduction – Reducing carbon emissions is critical to our net zero commitment. Continuous improvements to energy efficiencies, reducing air travel, adopting more sustainable forms of travel and delivering a more virtual client service model are key priorities.
Supply chain – We plan to engage with our suppliers to encourage them to decarbonise and set their own Science Based Targets.
Renewable energy and carbon offsets – PwC firms worldwide will transition to 100% renewable energy and emissions which cannot be avoided will be mitigated through supporting high-quality independently verified carbon reduction and removal projects, which actively remove emissions from the atmosphere.

Our journey to date

Established a net zero team and developed a net zero Territory Action Plan across four work streams
Identified the main sources of greenhouse emissions and quantified our baseline position for FY 2019
Switched to a renewable electricity tariff in FY 2022

Reached 50% reduction in total greenhouse gas emissions by FY 2022
Committed to the global offset procurement process for FY 2023

Ongoing communication on our net zero journey to our people.

In addition to setting formal near-term science-based targets for our climate action goals, we will continue to work towards reducing our emissions and enhance our performance across broader environmental impacts beyond the scope of our global net zero commitment.

Reduction in total greenhouse gas emissions

This graph displays actual data from FY 19 - 22 showing that our firm has already achieved a 50% reduction in emissions.

Our forecast from FY 23 - 30 takes into account emissions that we are unable to reduce at this point in time, including shared office gas emissions and off-island business travel. Data excludes suppliers.