The world, and by extension Malta, is facing significant challenges, be they related to climate change, water scarcity, inequality, diversity or broader governance issues. In the face of these challenges, it is our view that businesses and economies need to not just evolve but take up their responsibility and act to create a sustainable world fit for future generations.
In this respect, we believe the business community has a key role to play in society and we, as PwC, are determined to play our part. In line with our purpose, we have made a worldwide science-based commitment to reach net zero greenhouse gas emissions by 2030 – building on our existing global environmental commitment.
Our validated target is to reduce greenhouse gas emissions by 50% in absolute terms from 2019 levels by 2030 in line with a 1.5 degree scenario. Importantly, these targets go beyond scope 1 & 2 emissions to include PwC’s largest indirect scope 3 emissions.
The climate targets are part of PwC’s new wider global strategy - The New Equation. Through ‘The New Equation’, PwC is committed to transforming its business model to decarbonise its value chain, increase transparency, and support the development of robust ESG reporting frameworks and standards. As PwC we are also engaging with our clients and suppliers to support them to tackle their climate impact.
Reduce our emissions in line with a 1.5 degree climate scenario, including a 50% reduction in scope 1 and 2 emissions and a 50% absolute reduction in business travel emissions from a 2019 base by 2030.
In addition, we will accelerate our transition to 100% renewable electricity by 2025 and to mitigate our impacts today, we will continue to offset our emissions through high-quality carbon credits.
In line with our net zero ambition and vision for Malta, we have undertaken a number of initiatives to help reduce our carbon footprint in line with our overall target of being carbon neutral by 2030:
To further improve the energy efficiency of our offices, we have installed IR films on all windows in our reception area and on those on the 1st and 2nd floors of our office building. The IR films will reduce the amount of Infrared radiation and UV rays from entering the building and thus help reduce temperature losses in our offices.
In a bid to encourage the transition to e-mobility and eliminate scope 1 emissions, PwC had replaced its internal combustion engine delivery van to an all-electric, zero emission vehicle. As a result, today we continue to use a fully-electric vehicle as part of our daily firm operations.
We have more upcoming projects to further reduce our energy consumption and wastage, such as replacing more A/Cs, switching to LED lighting, replacing water faucets and installing aerators in the bathrooms.
Beyond electricity, we are aware that a considerable portion of our waste relates to paper and the habit of printing in the nature of our work. In an effort to embed a culture of restricted printing, we have provided our employees with a second monitor in a bid to eliminate the need to print documents, and we strongly encourage staff to make use of electronic documents rather than printed ones. To that end, we have reduced our paper consumption by 39% from the previous year.
