Annual Report
2022-2023
Driving a sustainable and inclusive future
Foreword
Like many other organisations, the past few years have posed considerable challenges for businesses, from geopolitical threats and supply chain disruption to environmental, social concerns and cyber risks. These have had a profound impact on our firm, our clients, and the communities around us. Despite the uncertainties that continue to linger after the pandemic, we have demonstrated steady and sustainable growth and resilience, anchored on our Purpose 'to build trust in society and solve important problems’.
The past two years, we achieved several significant milestones in delivering on our Purpose, including the establishment of the Acceleration Center in Kuala Lumpur (AC KL) and the launch of PwC's Asia Pacific Marketplace. The growth of PwC's Marketplace, from its inception in Malaysia in September 2021, and its expansion to economies in the Asia Pacific region are in line with our strategic focus on providing asset-based and managed services that integrate seamlessly with our traditional professional services.
In addition, we proudly welcomed our firm's first female Executive Chair, Nurul A’in Abdul Latif.
The latest edition of our Annual Report shares how we have evolved as a firm during these extraordinary times. It adheres to the principles of the Integrated Reporting <IR> Framework and the Global Reporting Initiative (GRI). In this edition, we continue to report on how we have utilised our capitals to achieve our business priorities and outcomes from our business activities as well as highlight our impact to different stakeholders.
The four priorities of our four-year strategic plan (2020–2024) shape how we deliver value to our clients, our people and the community:
Growth: Quality growth delivered as One Firm
Building trust and quality: A resilient and agile One Firm, delivering quality outcomes for clients and the business community, while impacting society in the areas of trust, ESG, education and digital
Future-ready: Building a diverse and inclusive culture for a future-ready workforce that is able to adapt to new ways of working and sustainably grow their careers
Digital: Embedding our digital strategy and promoting digital awareness and mindset throughout the firm
Throughout the year, we remained steadfast in our commitment to investing in our greatest asset—our people. Prioritising wellbeing, we enriched our employee assistance programme and initiated a comprehensive update to our Wellbeing programmes. As we continue to grow our business, we recognise that ongoing development is pivotal not only in building the talent needed for our operations, but also in upholding the highest quality standards for our clients.
Internally, as outlined in PwC’s global strategy, we have committed to achieving net zero greenhouse gas (GHG) emissions with 2030 goals, by reducing 50% of our Scope 1, 2 and 3 emissions. Further details about our carbon emissions, as well as our strategy and plans to reduce them, are provided in this report.
Delivering quality work is at the core of everything we do and lies at the heart of our network strategy, The New Equation. This reflects our dedication to helping organisations build trust and deliver sustained outcomes. Our 2023 Transparency Report affirms our continued commitment in driving a strong culture of quality and excellence.
In spite of challenges globally and locally, we approach the future with optimism, recognising that when a community of solvers work together, we can create meaningful impact among our clients, with our people and the wider society.
Soo Hoo Khoon Yean
Managing Partner, PwC Malaysia
Our people are core to our business. We are working on improving our people value proposition to attract and retain talents and building a culture that enables a sense of belonging and inclusion for all our people. To do this, we have outlined our GROW model and our work on improving Inclusion and Diversity at PwC. To read more, click on the links below.
At PwC, we understand that everyone has a unique way of working and different priorities in life. To help us focus on what matters to our people, we embedded Growth, Recognition, Opportunities, and Ways of Working (GROW) in our People priorities and focus areas.
Within each of these, we have different platforms and tools to help us all GROW in our own unique journeys.
Note: As of November 2023, PwC has introduced My+, the firm’s enhanced People Value Proposition.
72%
Global People Survey
Diversity Index 2023
1% increase from 2022
281
Learners of Inclusive
Mindset Learning Path
From December 2021 to October 2023. The IMLP is a 10 hour elearn designed to understand our biases and ways to mitigate them.
Our foundation
Our skills and capabilities as a PwC Professional along with our Values define how we work with one another and with our clients. They guide us in achieving our strategy and fulfilling our purpose, which is to 'Build trust in society and solve important problems'.
About this report
Our report covers PwC’s Purpose, our priorities and how we will reach it.
We have been reporting our Corporate Responsibility activities since 2009 and began reporting against the Global Reporting Initiative (GRI) framework since 2012, in accordance with the GRI Standards: 'Core option'. Starting from 2017, we have used Integrated Reporting
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