PwC has made a global commitment to achieve zero net greenhouse gas (GHG) emissions by 2030, as part of the Net Zero plan, a project that seeks to eliminate the carbon footprint of corporate buildings, so that they work with renewable energies.
The firm is committed to decarbonizing its operations, including its travel footprint, and neutralizing the remaining climate impact by investing in carbon elimination projects. It will also engage its suppliers to address its climate impact.
To support these efforts, PwC will continue to contribute to the development of public policy in support of Net Zero globally. Bob Moritz, Global Chairman of PwC, comments: “Businesses and economies must evolve rapidly to address the significant challenges our society and planet face. Regardless of whether the issue is viewed from a human need or capital allocation perspective, it is in our common interest to see systemic change that avoids climate catastrophe and unlocks the potential for green growth.
PwC will work with its clients to support their efforts toward a Net Zero future for all. In fiscal year 2020 (July 2019-June 2020), PwC provided services to 84% of the companies on the list. Global Fortune 500 and more than 100,000 entrepreneurial and private companies. It is this position that will enable PwC to play an integral role in driving the transition to a low-carbon economy worldwide. To achieve this, the network will support organizations in the development and implementation of plans that include realigning corporate strategy, workforce, governance and accountability, the operating model, innovation, research and development (R&D), The company is also involved in tax reporting and supply chain transformation.
“A Net Zero world is within our reach. Achieving it will require 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 only in our operations and supply chains, but also in the way we advise and support our customers to create a sustainable world for future generations,” adds Moritz.
Raising ambition
PwC is committed to reduce its total greenhouse gas emissions by 50% in absolute terms by 2030. This includes a change to 100% renewable electricity emissions in all territories, as well as energy efficiency improvements in its offices and halving emissions associated with business travel and accommodation within the next decade. Emissions associated with flying currently account for about 85% of the firm's total carbon footprint. The COVID-19 pandemic has accelerated the shift to remote working and demonstrated the viability of new client service models as part of a longer-term transformation of PwC's services.
The firm will also invest in carbon removal projects, including natural climate solutions. For every remaining ton (CO2 equivalent) emissions, PwC will remove one tonne of carbon dioxide from the atmosphere to achieve a Net Zero climate impact by 2030.
