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, The New Equation, commits us to also increase transparency, and help to develop robust ESG reporting frameworks and standards. Our global reach means we can play an important role in driving the transition to a net zero economy.
2:35
Our Global Chair, Bob Moritz shares more on PwC's net zero commitment and journey
Decarbonising our operations and supply chain
We are transitioning our business in line with a 1.5 degree 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 degree 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
We will continue to offset those emissions we cannot eliminate today through high-quality carbon credits, transitioning our carbon credit portfolio to 100% carbon removals by FY30. Explore more about our commitments in our 2023 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.
That's why we are adapting our core services to include consideration of environmental matters. This ranges from the inclusion of carbon taxes and green incentives within our Tax services, environmental issues in Deals, reinforcing climate in our Assurance methodologies and processes, and sustainability-driven transformation programmes in Consulting, plus many more.
We are also building and scaling new services. Our sustainability practice helps organisations plan, source, deliver, finance and measure the wider impact of products and services. We’re helping future-proof businesses by making them more resilient, agile and sustainable.
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 COP27, COP15, Davos, and the Global Solutions Summit, advocating for the measures to stop 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 2023 PwC Network Environment Report
Our Task Force on Climate-related Financial Disclosures (TCFD)
We’ve prepared our third set of environment disclosures in response to following the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) for the PwC network.
This 2023 PwC Network Environment Report represents an important step as we execute our strategy to deliver trust and sustained outcomes, bringing our purpose to life and leading within the business community on climate-related challenges.
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Colm Kelly
Global Corporate Sustainability Leader, PricewaterhouseCoopers International Limited
Global Corporate Sustainability Managing Director, PricewaterhouseCoopers International Limited