PwC commits to net zero by 2030
PwC has shared its commitment to be net zero, globally, by 2030.
PwC’s plans include supporting its clients to reduce their emissions, as well as reducing those from the PwC network’s operations and suppliers.
Bob Moritz, Global Chairman of the PwC network, said:
“Businesses and economies must evolve quickly to address the significant challenges facing our societies and our planet. Whether you look at this through the lens of human need or from a capital allocation perspective, it is in the interests of everyone that we see systemic change that averts climate catastrophe and unlocks the potential of green growth.
“A net zero world is within reach. Getting there will take innovation, hard work, collaboration and bold thinking but the benefits will be immense. The business community has a responsibility to act and we are determined to play our part, not just in our own operations and supply chain, but also in the way we advise and support our clients to create a sustainable world for future generations.”
This goals include a switch to 100% renewable electricity in all territories, as well as energy-efficiency improvements in PwC’s offices and halving the emissions associated with business travel and accommodation within a decade. Emissions associated with flights alone currently represent around 85% of the network’s total carbon footprint.
The COVID-19 pandemic has accelerated the shift to remote working and demonstrated the feasibility of new client service models, as part of a longer-term transformation of PwC’s services.
It will also be investing in carbon removal projects, including natural climate solutions. For every remaining tonne (CO2 equivalent) that it emits, PwC will remove a tonne of carbon dioxide from the atmosphere to achieve net zero climate impact by 2030.
PwC has reach across 157 countries and, building on existing client work in sustainability and net zero transformation, it will integrate science-led climate analysis into its areas of service.
It will shortly be launching a practical guide –Building Blocks for Net Zero Business Transformation – aimed at business executives, to help companies of all sectors and sizes move from net zero pledges to wholescale business transformation. The research has been produced in association with Microsoft, who PwC advises on net zero transformation, as a contribution to the recently launched CEO-led Transform to Zero initiative.
Further details of the network’s plans to achieve the 2030 net zero ambition, support clients and suppliers and advance the global climate debate will be shared over the coming months.
Bob Moritz added: “An important lesson of COVID-19 is that people can find ways to do the impossible when they have to, and we are taking some of that spirit into our efforts to tackle the global climate crisis. The changes we need to make will not be easy, but are nothing compared to the harm that runaway climate change would inflict on society. We are excited about working together, with clients, with partners and all of our stakeholders, to achieve our goals and play our part to support global efforts to help address the impacts of climate change for a more sustainable and fairer world.”
For further info visit: pwc.co.uk