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• 95% of PwC’s electricity usage now comes from renewable sources.
• 71% reduction in Scope 1 and 2 greenhouse gas emissions from a FY19 baseline.
• Recognized as a Global Leader in ESG and Sustainability by Verdantix in 2024.

PwC has made significant strides in its sustainability initiatives, achieving 95% renewable electricity usage in 2024 and a 71% reduction in Scope 1 and 2 greenhouse gas emissions from a FY19 baseline. The firm is collaborating with public and private sectors, participating in forums like Davos, Climate Week, and COP28 to enable progress toward societal sustainability.

“Businesses face a vast range of sustainability-related impacts, risks and opportunities across their operations and supply chains. But this also gives organisations the opportunity to transform and reinvent themselves in order to ensure future growth and resilience,” said Will Jackson-Moore, Global Sustainability Leader, PwC UK.

Enabling Society’s Transition

PwC is supporting the move to clean energy, reducing energy demand, and protecting the natural world, which underpins 55% of global GDP. This year, the firm helped clients and society become more sustainable through various initiatives.

Colm Kelly, Global Corporate Sustainability Leader, PwC Ireland, stated:

“Our own business continues to evolve to respond to the twin challenges of decarbonisation and managing the risks of embedded climate change. We continue to focus on progressing our own Net Zero journey, we continue to identify and manage physical risks embedded in our value chain, and we continue to evolve our services to support our clients as they too transform their businesses. We remain committed to working with governments, policy makers and other stakeholders to help address the inevitable challenges which arise for all businesses during a transformation on this scale.”

Recognitions and Achievements

• Global Leader in Sustainability: PwC was recognized as a Global Leader in ESG and Sustainability in Verdantix’s 2024 Green Quadrant report.
• Top 1% Sustainability Performance: PwC US, UK, Netherlands, and Germany received a Platinum rating from EcoVadis.
• Innovation Award Winner: PwC’s ESG Reporting Manager for CSRD won the SAP Innovation Award 2024.
• Climate Disclosure Score: Achieved an A- for its 2023 CDP climate disclosure.

“As the impacts of climate change become more frequent and intense, we urgently need to enhance adaptation and resilience for communities, sectors, economies, and ecosystems around the world. Business has a key role to play in helping the world adapt and much to gain from taking action on climate adaptation which is crucial to protect their organisation and help them thrive in the years ahead,” commented Emma Cox, Global Climate Leader, PwC UK.

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Insights on Sustainability

PwC shared a range of insights on sustainability and its impact on business:

• Transforming Energy Demand: Companies can achieve a 31% reduction in energy demand without loss of output.
• CSRD Reporting: Nearly two-thirds of companies are confident about reporting under the EU’s new Corporate Sustainability Reporting Directive, but many lack knowledge on how to proceed.
• Climate Technology Investment: Investors are expanding their search for growth potential and climate impact.

“Business and sustainability are interdependent; one cannot thrive without the other. To remain viable, businesses urgently need to move sustainability beyond strategy and commitment to transformation and impactful change, ensuring they, the environment, and society are fit for the future,” said Ivy Kuo, Asia Pacific Sustainability Leader, PwC China.

Progress on Net Zero Commitments

• 71% Reduction: Achieved a 71% reduction in Scope 1 and 2 greenhouse gas emissions from a FY19 baseline.
• 95% Renewable Electricity: Sourced 95% renewable electricity across the PwC network.
• 43% Reduction in Business Travel Emissions: Reduced Scope 3 business travel emissions by 43% from a FY19 baseline.

Renate de Lange, Global Sustainability Markets Leader, PwC Netherlands, emphasized:

“If you think about the impact of climate change and all the things that need to be done to address this, it means that we need to change every business, every country and every community. Therefore we must collaborate as one.”

The Road Ahead

PwC continues to evolve its services to support clients in transforming their businesses amidst climate challenges. Reports indicate that:

• 17.2% Annual Decarbonisation Required: A year-on-year decarbonisation rate of 17.2% is needed until 2050 to limit global warming to 1.5°C.
• Climate Risks to Commodities: Heat stress and drought threaten essential commodities like copper, iron, lithium, wheat, and rice.
• Climate Change in Strategy: Nearly a third of global CEOs say climate change will significantly influence their companies in the next three years.

“Companies that take proactive steps to identify and manage the effects of climate change can turn risk into opportunity,” PwC reports suggest.

Employee Perspectives

• Impact on Jobs: 37% of employees believe climate change will affect their jobs in the next three years.
• Value Creation Agenda: Executives can use the EU’s Corporate Sustainability Reporting Directive to integrate sustainability into strategy and uncover value creation opportunities.

Generating Upside from Sustainability: Most private equity firms believe that action on sustainability can help create value, according to PwC’s Global Private Equity Responsible Investment Survey 2023.

For more details, read the full report here.