Solving together:
ESG

We’re helping business and society do the right thing on ESG.

Trained biologist, Thijs IJsbrandij
Now, Manager at PwC Netherlands
Helps PwC clients report on biodiversity

How can business and society do the right thing on ESG and deliver on their promises?

Awareness is growing that we all need to care for our environment and the people who live in it. On issues from diversity to sustainability, we must make sure that the solutions of today don’t become the problems of tomorrow – and the mistakes of society’s past aren’t a part of the future.

There’s no time to wait. Climate change isn't coming; it’s here. Public anger is growing at social injustices and barriers to economic inclusion. Recent events from war to the energy crisis have put a spotlight on the need for a more just society. Urgency is building to act – now.

Though the path to solving these challenges isn’t always clear, one thing is certain: the only way we will overcome these obstacles is with business, government and the public working hand-in-hand. Expectations are growing for business to be part of the solution to society’s challenges. This is why organisations’ environmental, social, and governance (ESG) practices are more important than ever. In fact, a majority of the public expects CEOs to inform and shape conversations and policy debates.[1] And our global research found most people believe business leaders should be accountable for ESG performance.

 

82%of senior leaders have ESG targets in their pay

86%of investors believe that a focus on ESG helps to drive long-term value

Source: PwC Paying for good for all

In this chapter, we’ll share some of the ways PwC is helping both our clients and society do the right thing on ESG, meeting changing expectations and delivering on their promises. To learn more about our work on inclusion & diversity and upskilling/social mobility, please see the People chapter. For more information on how we’re driving positive change across a range of issues from humanitarian crises to healthcare, please see the Impact chapter.

We help companies implement their ESG strategy

Let’s start with how we help companies do the right thing on ESG.

Reaching net zero carbon emissions is a paramount ESG challenge for companies as regulators, investors, staff, customers, and the public at large demand action. We are leaders in helping our clients get to grips with the profound transformation that net zero requires – and achieve it at speed. 

Net zero transformation is the single biggest challenge businesses face. It requires setting a strategy, defining targets, and achieving deep transformation to re-imagine the business for a low carbon future. That’s exactly what PwC delivers.”
kai lakhdar
Will Jackson-Moore
Global ESG Leader, PwC UK

We advise our clients that climate and ESG more broadly can’t be tacked on as an extra project. ESG needs to sit at the heart of the business strategy. Capital markets increasingly expect companies to demonstrate their ESG strategy, including at IPO.

It’s imperative that companies considering going public in the next few years have their ESG house in order. Investors want to invest in businesses that recognise, and are responding to, the risks and opportunities ESG practices present, most significantly around climate change.”
kai lakhdar
Nadja Picard
Global Reporting Leader, PwC Germany

ESG must be embedded deep within a company’s structure. This year, we’ve offered advice on how ESG concerns can be built into enterprise architecture and executives’ pay. In addition, we advocate appointing an empowered Chief Sustainability Officer to help supercharge the sustainability transformation and help companies reduce their carbon footprint. Weaving ESG into the fabric of the company builds a strong foundation for deep ESG transformation. Read on for examples of our work this year helping clients transform to reach their ESG and climate objectives.

 

Case
Study

Baker Hughes ESG transformation

We helped a leading energy technology giant undertake holistic ESG transformation in support of its mission statement to be a market leader in net zero

Baker Hughes committed to achieve net zero Scope 1 and 2 greenhouse gas emissions by 2050 and a 50% reduction in emissions by 2030.

Baker Hughes is working with PwC US to accelerate that journey. We helped the business develop an integrated and comprehensive ESG and net zero strategy that has enabled Baker Hughes to ‘see around corners’, identify growth opportunities, and anticipate and mitigate risks. We supported the client to operationalise the strategy and transform at speed and scale through building investor-grade ESG reporting, creating a sustainability operating system, and launching an ‘All In, Carbon Out’ decarbonisation programme. This has enabled Baker Hughes to achieve rapid GHG emission reductions and define best practices for doing so. To learn more about our work with Baker Hughes, read the case study.

‘The size and scope of our transition hasn’t been seen before in our industry. We’re operationalising our net-zero commitments, reducing emissions from our value chain and advancing low-carbon technologies.’

Allyson Anderson Book, Vice President of Energy Transition, Baker Hughes
Case
Study

100% recycling roadmap

We created a roadmap for a global beverage brand to recycle 100% of its plastic waste in India

The global brand generates over 100,000 metric tonnes of plastic waste in India each year. The company felt that it should do more to address this issue as a responsible and sustainable business – starting by recycling 100% of its plastic waste.

PwC India helped the company plan to reach this ambitious target; a complex undertaking that goes beyond the firm itself. To recycle 100% of plastics, the company needed to track both how much plastic its various bottlers across the country were generating, and how much plastic the country’s recycling infrastructure could handle. We developed a roadmap which addresses the inadequacies in the infrastructure while continuing to support innovative solutions for plastic problems.

PwC India brought together experts in manufacturing, recycling, regulation and technology to build a dashboard that makes the company’s plastic production and recycling across India transparent and trackable. For example, the brand’s leadership will get a view of the bottlers who are falling behind on their plastic waste targets so they can take corrective action. Consumers will be able to see the impact of plastic waste management, building trust in the brand.

Case
Study

Decarbonising Australian agriculture

We’re helping to build a financially prosperous, climate-resilient and decarbonised Australian agricultural sector

The key to protecting our environment is recognising its value. PwC Australia is helping to more strongly link natural capital (elements of the natural environment which provide valuable resources) to financial performance. This helps reflect the importance of nature as a factor in production, enabling farmers to build true climate resilience in a profitable way. In making a clear business case for the value of nature, PwC Australia aims to incentivise producers to invest in their natural capital in a way that helps sequester carbon in the soil, enhance biodiversity and regenerate landscapes. Our work shows how enhancing natural capital can make good business sense for farmers while supporting the local economy and environment. To learn more about our work with the Australian agricultural sector, read our case study and report.

Case
Study

We support major retailers in their ESG transformations

PwC Germany supported a large global retailer to develop its ESG strategy, transform the business to meet ESG goals, and document its progress through reporting.

The ESG transformation included building a global network of suppliers that deliver on ESG criteria while keeping prices competitive, adapting the packaging strategy, acquiring a fleet of electric trucks, and even forming plans to buy a recycling company.

PwC Canada helped a large retailer build distribution centres that meet sustainability goals by using solar panels, rainwater harvesting and an electrified trucking fleet.

We also helped promote reuse and cut waste in the supply chain by applying our expertise in the circular economy.

Case
Study

We deliver assurance that ESG objectives are met: Spotlight on Africa

Improving ESG performance requires setting clearly defined objectives and rigorously monitoring progress towards them. Our work in Africa this year provides examples of how we’ve achieved this:

  • We support World Bank projects to meet ESG goals. We provide independent assurance for sustainable finance projects funded by the World Bank to make sure they fulfil specified ESG criteria such as open governance, transparency and gender inclusion. This helps sustainable finance projects to do maximum good.
  • Our experts across Africa have assessed the impact of a programme designed to build the next generation of entrepreneurs. The Tony Elumelu Foundation supports entrepreneurs across Africa with seed capital, training and support. We harnessed the power of the PwC network across Africa to assess the programme’s ESG impact and contribution to the United Nations Sustainable Development Goals in each country including jobs created, tax paid, and number of women employed. A combined effort across PwC’s community of solvers was vital to running this project over such a huge territory.

We help clients manage the impact of climate change

We’ve shared examples of how we’re helping clients reduce their impact on the climate. However, we’re also helping our clients tackle the other half of the equation: the climate’s impact on them. 

A company could reduce its emissions to zero and still be blindsided by other risks: crushed by supply chain disruptions due to climate change, hit by regulation or carbon pricing that render business models unsustainable, left behind by customers demanding new levels of climate performance, or simply displaced by competitors who moved faster to build the new low-carbon economy.

The True Test of Climate Resilience,PwC publication

According to our annual Global CEO Survey, just 40% of CEOs have factored climate change into their strategic risk management. We’re helping our clients address this shortcoming by helping them recognise the real risks that climate change poses to their businesses. On Earth Day, our Global Chairman, Bob Moritz, published The True Test of Climate Resilience to help business leaders ask the right questions to identify their own risks. Led by our global climate leader Emma Cox, we’re helping clients to see clearly their climate risks. In fact, we believe every company should take the time to map its climate risks.

Take PwC as an example. We’re a professional services network, so it might seem like our business is unlikely to experience significant impacts from climate change. However, climate change is predicted to affect a number of our locations around the globe. This year, we have applied detailed climate data to assess physical risks to our member firm offices, and disclosed it as part of our compliance with the recommendations of the Task Force on Climate-related Financial Disclosures. We hope more organisations follow our example to educate stakeholders on the risks and responses required to adapt to climate change. You can explore some of that climate data via the interactive map below. The map shows how selected climate hazards are expected to evolve up to 2050 under a ‘no mitigation’ >4°C scenario for each PwC office location of more than 1,000 employees (as of June 2022).

 

Confirmation

Note: You may need to scroll down within this box to acknowledge these terms

The map is intended to illustrate how certain climate hazards may be relevant for certain PwC office locations. It is not intended to be a comprehensive analysis for all hazards for all of our locations. It is important to understand the data and to be aware of its limitations. The following guidance is therefore intended to support your understanding:

  • The data is only for the larger offices within the PwC network.
  • The data is only for a subset of climate hazards (Heat, Wet Bulb Globe Thermometer, Drought and Precipitation) and does not include data relating to other hazards (e.g. Flood, Wildfire, Wind, Cold, Hail).
  • The data is based on a ‘no mitigation’ >4°C scenario (SSP5-8.5).
  • The data is specific to our locations, and should not be considered to reflect trends for the wider regions in which they are located.
  • The definition for each hazard is key to understanding what the data represents. Explore these definitions within the tool.
  • The data doesn’t reflect what may happen when hazards combine (e.g. where heat, drought and wildfire occur in combination).
  • The data only represents the potential severity level of a hazard for a location. It does not reflect the vulnerability of that location to the hazard. The data therefore does not constitute a business risk assessment.

Tick the box to confirm you have read and understood what the data represents, how it should be interpreted, and how it might help inform decision making.

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All data presented is based on a 'no mitigation' (>4°C) scenario.
Other metrics such as flood, wildfire, hail, cold and wind events form part of our dataset but have not been included for the purpose of this illustrative map.
Data source: Jupiter ClimateScore™ Global, 2022
495 Amsterdam Westgate, Thomas R. Malthusstraat 5, 1066 JR, Netherlands Amsterdam Netherlands 3767 52.742566 57.901035 0.879 0.593 0 0 57.208 0.944 0.766 0 0.002 60.369 0.924 0.833 0 0.004 61.376 0.926 0.912 0 0.007 62.446 0.934 1.032 0 0.013 65.542
283 270 Kifissias Avenue, Halandri, GR-152 32, Greece Athens Greece 1622 48.9 58.035168 0.131 39.95 0 0.042 137.399 0.147 49.713 0 0.943 147.546 0.159 53.031 0 1.678 146.69 0.18 58.027 0 3.308 148.626 0.195 63.576 0 5.924 150.698
807 1075 Peachtree Street NE, Atlanta, Georgia 30309, United States Atlanta United States 1990 83.3 55.413797 0.283 28.595 0 2.169 194.361 0.255 35.24 0 8.067 214.499 0.255 37.365 0 12.052 211.189 0.263 41.188 0 18.745 214.351 0.248 45.986 0 27.833 218.632
507 PwC Tower, Level 27, 15 Customs Street West, Auckland 1010, New Zealand Auckland New Zealand 1126 0.435832 14.7 0.102 0.031 0 0 130.344 0.104 0.031 0 0 140.519 0.104 0.031 0 0 144.469 0.102 0.031 0 0 149.871 0.1 0.032 0 0 153.461
730 15th Floor, Bangkok City Tower, 179/74-80 South Sathorn Road, Bangkok, 10120, Thailand Bangkok Thailand 1774 24.35 44.2 0.79 74.065 0 90.039 217.761 0.786 93.947 0 151.853 244.599 0.753 107.767 0 177.693 244.5 0.73 126.261 0 208.829 248.703 0.712 149.603 0 237.298 257.386
57 Alameda Mamoré, 989, conjuntos 2.001, 2.002, 2.003 do 20ª andar, 2.101, 2.102, 2.103 do 21º andar, 2.301, 2.302, 2.303 do 23º andar, Edifício Crystal Tower, Bairro Alphaville Industrial Barueri Brazil 1131 71.4 23.1 0.261 2.777 0 0.057 209.142 0.252 3.677 0 0.204 215.765 0.243 4.449 0 0.331 222.829 0.243 5.518 0 0.713 230.551 0.236 6.993 0 1.838 241.08
134 26/F Office Tower A, Beijing Fortune Plaza, 7 Dongsanhuan Zhong Road, Beijing, 100020, China Beijing China 5485 19.4 60.411087 1.118 35.494 0 5.392 269.453 0.866 40.847 0 12.023 300.578 0.859 43.803 0 15.84 304.23 0.856 47.135 0 21.288 308.039 0.744 51.292 0 28.711 321.855
944 Belfast Merchant Square, 20-26 Wellington Place, Belfast, BT1 6GE, United Kingdom Belfast United Kingdom 3388 76.103975 66.29816143 0.068 0.005 0 0 65.97 0.066 0.006 0 0 70.635 0.067 0.006 0 0 71.978 0.065 0.006 0 0 74.321 0.066 0.007 0 0 77.027
306 Pine Valley, 4th Floor, Embassy Golf Links Business Park, Challaghatta Village, Bangalore, 560071, Karnataka, India Bengaluru India 4816 31.68540983 43.914687 4.215 23.319 0 0 159.198 3.781 25.973 0 0.134 168.178 3.649 27.809 0 0.241 167.752 3.463 31.373 0 0.49 172.584 3.202 37.049 0 1.334 174.247
274 Kapelle-Ufer 4 , 10117 Berlin , Germany Berlin Germany 1660 33.070888 58.014742 0.881 4.561 0 0.004 79.783 0.932 6.168 0 0.035 87.514 0.919 6.735 0 0.076 87.036 0.885 7.502 0 0.143 88.525 0.9 8.581 0 0.283 89.587
767 One Chamberlain Square, Birmingham, B3 3AX Birmingham United Kingdom 1964 67.845339 58.9878 0.932 0.406 0 0 60.379 0.931 0.498 0 0 65.365 0.934 0.56 0 0 65.997 0.951 0.651 0 0.001 68.298 0.942 0.777 0 0.004 70.777
893 Calle 100 No 11-A-35, 5th. Floor, Bogotá, Cudinamarca, Colombia Bogotá Colombia 1019 79.8 39.7 0.009 0 0 0 124.461 0.009 0 0 0 143.287 0.009 0 0 0 145.067 0.009 0 0 0 149.542 0.009 0 0 0 154.697
865 101 Seaport Boulevard, Boston, Massachusetts 02210, United States Boston United States 3223 78.781 60.71754 1.303 7.849 0 0.176 173.932 1.298 10.029 0 0.651 197.681 1.282 10.764 0 0.955 202.56 1.261 12.251 0 1.74 212.381 1.224 13.864 0 3.228 218.804
889 Culliganlaan 5 ,  B-1831 Diegem ,  Belgium Brussels Belgium 1392 53.858274 53.002069 1.02 1.772 0 0.002 69.04 1.065 2.527 0 0.017 72.862 1.054 2.854 0 0.036 74.451 1.061 3.293 0 0.07 75.117 1.082 3.889 0 0.148 78.767
6 Edificio Bouchard Plaza, Bouchard 557, Ciudad de Buenos Aires, C1106ABG, Argentina Buenos Aires Argentina 1657 75 15.6 0.51 5.968 0 0.322 184.545 0.475 6.639 0 0.686 201.062 0.472 6.785 0 0.878 205.18 0.431 7.295 0 1.279 209.763 0.404 8.22 0 2.009 216.533
123 Unit 04, 26/F Tower 1, Raffles City Chengdu, No. 3 Section 4 South Renmin Road, Chengdu, 610041, China Chengdu China 2185 23.528831 54.461908 0.069 20.597 0 4.335 335.804 0.068 25.766 0 9.166 383.695 0.068 27.807 0 12.32 392.565 0.068 30.968 0 17.689 400.083 0.067 34.88 0 24.404 415.638
861 One North Wacker Drive, Chicago, Illinois 60606, United States Chicago United States 4036 84.3 61 4.865 14.405 0 1.942 125.943 5.066 18.039 0 4.342 140.913 4.931 19.232 0 6.099 142.462 4.923 21.381 0 9.418 143.236 4.933 23.785 0 13.514 146.324
166 Strandvejen 44, Hellerup, DK 2900, Denmark Copenhagen Denmark 1709 36.319337 67.996113 0.712 1.17 0 0 85.147 0.737 1.564 0 0.002 91.359 0.733 1.699 0 0.003 92.538 0.718 1.861 0 0.006 95.546 0.712 2.063 0 0.016 97.998
801 2121 North Pearl Street, Suite 2000, Dallas, Texas 75201, United States Dallas United States 2696 87.3 54 0.219 52.063 0 12.175 200.378 0.218 65.828 0 32.443 209.068 0.202 69.287 0 39.425 218.144 0.196 74.851 0 50.952 223.275 0.193 82.289 0 65.568 234.621
342 Building 10, Tower C, 18th Floor, DLF Cyber City, Gurugram - 122002, Haryana, India Delhi India 2901 32.16085572 52.139116 3.06 112.783 0 78.289 273.897 3.094 117.91 0 103.753 292.91 2.914 122.623 0 111.004 302.551 2.825 131.289 0 121.846 314.503 2.65 143.592 0 133.636 327.996
750 Emaar Square, Building 5, Dubai, United Arab Emirates Dubai United Arab Emirates 1873 38.977562 50.400409 4.848 147.674 0 108.896 145.59 5.706 169.053 0 128.829 180.148 4.994 177.541 0 136.253 184.873 4.042 189.206 0 144.427 187.167 4.099 201.547 0 153.663 189.126
362 One Spencer Dock, North Wall Quay, Dublin, 1, Ireland Dublin Ireland 2666 78.19953 61.524793 0.068 0.028 0 0 79.051 0.066 0.03 0 0 87.51 0.067 0.031 0 0 88.632 0.065 0.033 0 0 90.706 0.066 0.037 0 0 93.079
261 Moskauer Straße 19 , 40227 Düsseldorf , Germany Düsseldorf Germany 3264 46.123304 58.206822 0.938 3.337 0 0.004 75.86 1.045 4.328 0 0.028 80.552 1.044 4.717 0 0.057 80.672 1.048 5.282 0 0.111 81.194 1.06 6.062 0 0.228 84.401
853 400 Campus Drive, Florham Park, New Jersey 7932, United States Florham Park United States 2111 80.2 60 0.379 13.859 0 0.986 209.323 0.368 17.462 0 2.976 235.556 0.361 18.695 0 4.287 244.49 0.352 21.141 0 6.786 247.181 0.338 23.94 0 10.715 249.858
254 Friedrich-Ebert-Anlage 35-37, 60327 Frankfurt/Main, Germany Frankfurt Germany 3771 44.545002 53.52104 0.587 6.341 0 0.009 70.16 0.618 8.168 0 0.056 75.281 0.623 8.872 0 0.105 74.736 0.641 9.855 0 0.19 75.638 0.641 11.217 0 0.402 78.645
113 18/F PricewaterhouseCoopers Center, 10 Zhujiang Xi Road, Guangzhou, 510623, China Guangzhou China 1328 20.53646656 50 0.505 34.785 0 59.614 306.928 0.494 41.471 0 86.419 347.433 0.509 45.073 0 95.85 350.644 0.522 50.058 0 108.819 357.572 0.497 56.864 0 121.92 364.447
277 Alsterufer 1 , 20354 Hamburg , Germany Hamburg Germany 1345 40.126591 62.655872 0.747 1.967 0 0.001 84.43 0.79 2.779 0 0.013 88.49 0.772 3.074 0 0.028 87.528 0.77 3.437 0 0.058 89.87 0.794 3.926 0 0.123 93.767
189 Itämerentori 2, Helsinki, FI-00180, Finland Helsinki Finland 1067 8.464508 85.74437 0.161 1.435 0 0 88.221 0.153 1.734 0 0 96.89 0.153 1.827 0 0 100.269 0.151 1.985 0 0.001 101.865 0.144 2.163 0 0.004 101.935
295 19/F Tower B Manulife Financial Centre, 223-231 Wai Yip Street, Kowloon, Hong Kong SAR, China Hong Kong China 4786 20.1 48.999816 0.578 19 0 12.752 415.451 0.524 20.735 0 32.484 443.339 0.542 21.698 0 43.368 446.733 0.565 23.346 0 61.856 462.327 0.517 25.696 0 82.675 482.208
796 1000 Louisiana Street, Suite 5800, Houston, Texas 77002, United States Houston United States 1824 86.6 53 0.419 37.29 0 17.547 457.977 0.41 48.54 0 48.24 512.302 0.393 51.619 0 58.23 529.649 0.396 56.351 0 73.997 551.786 0.404 63.847 0 92.304 570.343
908 SDC -The Hive, Hyderabad Hyderabad India 1515 31.46980313 46.685253 3.029 88.042 0 1.939 245.722 2.741 96.902 0 9.84 269.79 2.678 102.648 0 13.859 275.305 2.493 112.471 0 23.338 279.49 2.449 127.589 0 40.396 287.014
737 Süleyman Seba Caddesi, BJK Plaza No:48 B Blok Kat:9, Akaretler, Besiktas, Istanbul 34357, Turkey Istanbul Turkey 1814 47.187129 60.5 0.899 6.154 0 0.005 115.834 0.955 8.524 0 0.189 122.576 0.969 9.388 0 0.397 129.739 1.027 10.705 0 0.993 132.558 1.093 12.4 0 2.007 135.638
352 Jl. Jend. Sudirman Kav. 29-31, Jakarta, 12920, Indonesia Jakarta Indonesia 2954 22.3 32.6 0.421 14.646 0 1.217 180.481 0.438 14.91 0 9.025 195.144 0.441 15.273 0 21.892 197.717 0.422 16.269 0 52.415 202.751 0.415 19.24 0 107.029 206.333
631 4 Lisbon Lane, Waterfall City, Jukskei View, Johannesburg, 2090 Johannesburg South Africa 2752 47.466355 21.2 1.446 3.323 0 0 130.69 1.567 4.176 0 0 137.938 1.481 4.89 0 0.001 139.302 1.599 5.956 0 0.005 142.454 1.618 8.125 0 0.017 145.835
545 State Life Building 1-C, Off: I. I. Chundrigar Road, Karachi, 74000, Sindh, Pakistan Karachi Pakistan 1044 34.9911406 50.481967 18.237 52.313 0 42.325 205.441 15.46 58.592 0 73.065 225.997 12.527 62.268 0 86.441 227.943 10.898 68.321 0 105.379 238.822 13.479 76.758 0 128.333 249.128
565 ul. Chorzowska 146, Katowice, 40-101, Poland Katowice Poland 1751 20.313298 53.619691 0.253 5.717 0 0.013 97.922 0.276 7.879 0 0.098 104.184 0.273 8.558 0 0.182 102.898 0.27 9.946 0 0.332 104.212 0.285 11.467 0 0.673 103.76
329 South City Pinnacle, 13th Floor, Plot No. X1-1, Block-EP, Sector V, Salt Lake, Kolkota, 700091, India Kolkata India 4803 28.614523 49.573421 0.744 72.578 0 121.663 274.277 0.721 73.523 0 144.128 293.997 0.669 77.335 0 153.887 309.637 0.649 85.421 0 170.29 316.366 0.594 101.752 0 189.446 321.901
453 Level 10, 1 Sentral, Jalan Rakyat, Kuala Lumpur, 50470, Malaysia Kuala Lumpur Malaysia 2558 23.99 38.438336 0.055 8.238 0 15.427 252.905 0.053 8.399 0 47.703 259.609 0.054 8.632 0 77.683 270.17 0.053 9.449 0 124.128 280.069 0.052 11.795 0 181.479 287.066
776 Central Square, 29 Wellington Street, Leeds, LS1 4DL Leeds United Kingdom 1136 65.735088 64.802278 0.932 0.237 0 0 76.762 0.931 0.27 0 0 81.715 0.934 0.29 0 0 83.286 0.951 0.322 0 0.001 85.899 0.942 0.369 0 0.002 89.032
555 Av. Santo Toribio No. 143, Piso 8, Lima, 27, Peru Lima Peru 1049 81.2 30.011718 0.065 0.053 0 0 18.076 0.066 0.053 0 0 19.622 0.064 0.053 0 0 20.225 0.06 0.053 0 0 21.114 0.057 0.053 0 0.001 22.078
573 Palácio Sottomayor, Avenida Fontes Pereira de Melo, nº 16, Lisbon, 1050-121, Portugal Lisbon Portugal 1324 83.108524 17.474794 0.061 3.265 0 0.004 92.839 0.07 4.113 0 0.024 102.578 0.077 4.408 0 0.032 101.554 0.084 4.934 0 0.061 100.92 0.09 5.55 0 0.11 99.321
759 7 More London Riverside, London, SE1 2RT, United Kingdom London United Kingdom 7634 63.275375 57.38368 0.932 0.61 0 0 57.525 0.931 0.787 0 0 60.937 0.934 0.878 0 0.001 61.172 0.951 1.022 0 0.002 62.889 0.942 1.213 0 0.006 65.843
812 601 South Figueroa Street, Los Angeles, California 90017, United States Los Angeles United States 2035 93.20602687 53.5792109 2.131 35.014 0 0.164 127.949 1.94 43.444 0 0.795 140.065 1.844 46.354 0 1.132 140.155 1.947 50.628 0 1.943 146.117 2.171 55.46 0 2.909 150.175
444 2 rue Gerhard Mercator, Luxembourg, L-2182, Luxembourg Luxembourg Luxembourg 3133 49.337232 49.19253 0.244 3.075 0 0.004 68.813 0.26 4.04 0 0.031 70.621 0.261 4.471 0 0.064 71.22 0.267 5.116 0 0.121 71.784 0.265 5.983 0 0.261 75.658
653 Torre PwC, Paseo de la Castellana, 259B, Madrid, 28046, Spain Madrid Spain 2985 71.402405 22.556971 0.184 23.191 0 0.039 57.546 0.211 31.505 0 0.272 61.961 0.234 34.858 0 0.432 62.062 0.26 40.437 0 0.852 62.192 0.306 47.15 0 1.767 63.425
774 Manchester Hardman Sq, 1 Hardman Square, , Manchester, M3 3EB, United Kingdom Manchester United Kingdom 1495 68.953683 62.60617 0.281 0.172 0 0 60.664 0.277 0.195 0 0 65.48 0.28 0.213 0 0 66.234 0.281 0.239 0 0 68.776 0.284 0.28 0 0.001 71.031
558 29th Floor Philamlife Tower, 8767 Paseo de Roxas, Makati City, 1226, Philippines Manila Philippines 1690 17.530625 44.2 0.223 25.384 0 38.619 448.754 0.206 27.414 0 82.307 464.193 0.203 28.803 0 105.355 471.21 0.202 31.69 0 140.483 480.871 0.191 36.625 0 176.757 501.187
13 2 Riverside Quay, Southbank, 3006, Victoria, Australia Melbourne Australia 2777 9.948965 14.586811 0.097 2.83 0 0.088 104.653 0.104 3.199 0 0.138 102.144 0.11 3.453 0 0.212 103.409 0.11 3.91 0 0.339 106.053 0.106 4.575 0 0.523 110.542
464 Mariano Escobedo 573, Colonia Rincón del Bosque, Miguel Hidalgo, 11580 Ciudad de México, Mexico Mexico City Mexico 2026 87.7 47 0.219 0.019 0 0 280.262 0.221 0.02 0 0 307.891 0.23 0.021 0 0 318.074 0.229 0.023 0 0 334.683 0.232 0.031 0 0 353.801
394 Piazza Tre Torri 2 , Milano 20145, Italy Milan Italy 4870 40.388455 37.653062 0.216 12.753 0 0.203 150.435 0.237 18.054 0 1.157 163.082 0.245 19.781 0 1.743 161.812 0.254 22.643 0 3.017 163.541 0.259 26.696 0 5.758 167.4
89 1250 Rene Levesque Boulevard West, Suite 2500, Montreal, H3B 2G4, Quebec, Canada Montreal Canada 1045 79.4 63 0.316 13.289 0 0.201 112.206 0.319 15.827 0 0.687 122.223 0.318 16.641 0 1.041 121.737 0.307 18.46 0 1.949 123.254 0.303 20.439 0 3.681 126.054
325 8th Floor, IT Building No.3, Nesco IT Park, Western Express Highway, Goregaon East, Mumbai - 400063, Maharashtra, India Mumbai India 1110 33.1 47.356366 0.101 29.06 0 12.599 362.223 0.093 31.216 0 31.189 426.628 0.089 32.842 0 40.848 433.037 0.086 35.822 0 58.05 448.427 0.084 40.873 0 87.076 459.265
247 Ganghoferstraße 68b , 80339 München , Germany Munich Germany 2199 38.641381 46.302596 0.107 4.077 0 0.011 130.053 0.112 5.349 0 0.058 139.374 0.112 5.822 0 0.112 138.9 0.114 6.606 0 0.199 142.132 0.115 7.727 0 0.446 144.422
849 300 Madison Avenue, New York, New York 10017, United States New York United States 9143 79.8 59.5 1.262 12.824 0 0.995 190.693 1.271 16.103 0 3.028 216.987 1.249 17.229 0 4.38 225.041 1.202 19.518 0 7.029 227.267 1.156 22.146 0 11.183 227.958
522 Dronning Eufemias gate 71, Oslo, N-0194, Norway Oslo Norway 1122 39.887216 85.585201 0.532 2.25 0 0 75.663 0.522 2.693 0 0 77.28 0.537 2.861 0 0 80.853 0.543 3.067 0 0.001 82.897 0.546 3.307 0 0.003 86.774
899 Crystal Park, 61 rue de Villiers, Neuilly-sur-Seine Cedex, 92208, France Paris France 4206 58.538473 45.766648 0.622 3.188 0 0.006 50.248 0.637 4.287 0 0.045 51.701 0.634 4.813 0 0.082 52.531 0.643 5.618 0 0.156 53.131 0.655 6.674 0 0.354 54.746
561 5th & 6th Floors Tower 1 The Rockwell Business Center | Block 4 Meralco Compound | Ortigas Avenue, Pasig City 1604 | Philippines Pasig Philippines 1884 18 44.9 0.223 18.819 0 32.279 442.241 0.206 20.278 0 67.717 456.861 0.203 21.291 0 86.756 466.111 0.202 23.425 0 116.557 478.936 0.191 27.122 0 149.265 493.778
843 Two Commerce Square, Suite 1800, 2001 Market Street, Philadelphia, Pennsylvania 19103, United States Philadelphia United States 1821 80.2 58.7 0.379 16.458 0 2.329 183.621 0.368 21.183 0 6.024 195.812 0.361 22.726 0 8.259 200.945 0.352 25.598 0 12.074 205.618 0.338 28.902 0 17.782 212.658
156 Hvezdova 1734/2c, Prague 4, 140 00, Czech Republic Prague Czechia 1115 30.739069 49.48381 2.007 6.186 0 0.008 103.113 2.033 8.007 0 0.055 110.567 2.075 8.628 0 0.112 111.236 2.135 9.746 0 0.195 112.368 2.174 11.212 0 0.416 115.652
602 Kingdom Tower - 21st Floor, King Fahd Highway, Riyadh, 11414, Saudi Arabia Riyadh Saudi Arabia 1354 41.66501112 49.797755 87.293 136.331 0 0.044 32.761 98.498 155.815 0 1.845 35.395 85.868 162.234 0 2.99 36.65 87.333 172.204 0 6.47 38.98 92.175 184.317 0 13.163 40.166
377 Largo Angelo Fochetti 29, Roma 00154, Italy Rome Italy 1569 35.345357 26.418117 0.212 11.351 0 0.095 143.057 0.229 15.994 0 1.158 152.196 0.244 17.471 0 2.096 152.669 0.268 19.819 0 4.062 157.705 0.285 23.336 0 7.939 164.664
827 405 Howard Street,  Suite 600, San Francisco, California 94105, United States San Francisco United States 1634 94.498463 56.3 1.899 2.093 0 0 97.716 1.93 2.853 0 0.001 104.76 2.064 3.19 0 0.002 104.708 1.947 3.719 0 0.004 105.418 1.865 4.296 0 0.008 110.591
824 488 Almaden Boulevard, San Jose, California 95110, United States San Jose United States 1246 94 55.60729132 1.899 20.844 0 0.003 101.999 1.93 24.594 0 0.018 111.245 2.064 26.068 0 0.022 110.346 1.947 28.423 0 0.042 110.987 1.865 30.613 0 0.078 114.335
106 Torre de la Costanera Avenida Andres Bello N° 2711, Pisos 3, 4 y 5, Santiago, 8320000, Chile Santiago Chile 1220 78.99 16.3 0.049 10.97 0 0 179.928 0.056 12.258 0 0 180.765 0.061 12.786 0 0 181.617 0.07 13.818 0 0 187.46 0.077 15.329 0 0 190.194
55 Centro Empresarial Agua Branca, Avenida Francisco Matarazzo 1400, São Paulo, 05001-903, SP, Brazil São Paulo Brazil 1590 70.83623 22.5 0.261 3.026 0 0.058 233.212 0.252 3.969 0 0.197 242.677 0.243 4.756 0 0.312 250.246 0.243 5.834 0 0.67 258.542 0.236 7.289 0 1.694 270.209
641 92 Hangang-daero, Yongsan-gu, Seoul, 04386, South Korea Seoul South Korea 3354 15.9 58.536561 0.277 14.868 0 2.514 248.584 0.235 18.357 0 6.699 272.476 0.252 19.82 0 8.966 276.088 0.254 21.866 0 12.614 282.852 0.25 23.942 0 18.548 291.436
124 ChamTime Plaza Tower B 6/F, Building 2, Lane 2889, Shanghai, 201203, China Shanghai China 8311 17.73996497 54.4 3.566 16.105 0 14.847 240.032 3.324 20.585 0 27.577 267.942 3.439 22.59 0 33.446 267.858 3.226 25.396 0 42.099 274.098 3.089 28.097 0 50.357 285.437
112 34/F Tower A, Kingkey 100, 5016 Shennan East Road, Shenzhen, 518001, China Shenzhen China 1722 19.39 49.494706 0.578 23.719 0 30.169 372.991 0.524 26.647 0 57.51 400.088 0.542 28.246 0 68.404 402.902 0.565 30.855 0 84.718 415.501 0.517 34.463 0 101.548 431.921
611 7 Straits View, Marina One, East Tower, Level 11-02, Singapore, 018936, Singapore Singapore Singapore 3797 23.296019 37.29112 0.055 0.07 0 1.683 253.448 0.053 0.07 0 6.463 251.642 0.054 0.07 0 10.813 256.53 0.053 0.07 0 20.395 265.286 0.052 0.071 0 44.199 268.914
686 Torsgatan 21, 113 97 Stockholm, Sweden Stockholm Sweden 1512 23.612298 82.232757 0.272 1.05 0 0 67.711 0.265 1.476 0 0 70.777 0.272 1.605 0 0 73.372 0.276 1.788 0 0.001 75.849 0.266 1.993 0 0.003 78.868
16 One International Towers Sydney, Watermans Quay, Barangaroo, 2000, New South  Wales, Australia Sydney Australia 3952 7.941 17.36617 0.044 0.933 0 0.054 222.559 0.046 1.133 0 0.113 213.787 0.047 1.258 0 0.196 217.84 0.047 1.394 0 0.248 235.175 0.043 1.633 0 0.427 247.144
727 International Trade Building, 27F, 333 Keelung Road, Section 1, Taipei, 10012, Taiwan Taipei Taiwan 2759 17.662191 50.797341 0 23.556 0 9.322 418.528 0 26.412 0 27.325 437.884 0 27.428 0 36.161 432.487 0 28.964 0 50.848 446.665 0 31.316 0 67.319 466.483
791 4040 West Boy Scout Boulevard, 10th Floor, Tampa, Florida 33607, United States Tampa United States 3738 82.6 51.6 3.479 27.615 0 6.96 282.07 3.059 33.677 0 24.741 303.907 3.127 37.125 0 35.287 316.752 3.263 41.959 0 53.957 328.089 3.276 49.107 0 76.689 342.542
913 Derech Menachem Begin 146,  Tel-Aviv 6492103,  Israel Tel-Aviv Israel 1103 45.176778 55.5 0.916 21.438 0 0.062 65.153 1.054 27.087 0 1.626 68.464 1.098 29.477 0 3.274 68.273 1.13 33.105 0 8.051 68.781 1.187 37.601 0 16.105 69.052
423 Otemachi One Tower Bldg., 1-2-1 Otemachi, Chiyoda-ku, Tokyo 100-0004, Japan Tokyo Japan 5235 11.9 57.591313 0.197 11.123 0 4.163 264.001 0.2 13.653 0 8.627 265.255 0.192 14.758 0 11.637 268.69 0.184 16.181 0 15.447 275.179 0.184 17.782 0 20.359 283.722
80 PwC Tower, 18 York Street, Toronto, M5J 0B2, Ontario, Canada Toronto Canada 3374 81.6 61.517254 0.587 7.328 0 0.106 99.181 0.592 9.042 0 0.356 109.593 0.595 9.644 0 0.597 110.162 0.574 10.71 0 1.21 109.113 0.579 12.224 0 2.393 112.27
25 Donau-City-Straße 7 , 1220 Wien Vienna Austria 1113 27.12091 45.35792 0.063 10.518 0 0.044 85.099 0.065 14.082 0 0.237 92.141 0.067 15.172 0 0.433 94.999 0.069 17.249 0 0.748 96.423 0.072 19.641 0 1.408 97.557
570 Polna 11, Warszawa, 00-633, Poland Warsaw Poland 3036 15.683064 58.825446 0.253 6.344 0 0.007 73.569 0.276 8.491 0 0.065 80.694 0.273 9.052 0 0.119 80.404 0.27 10.095 0 0.232 81.356 0.285 11.459 0 0.477 79.607
836 655 New York Ave NW, Washington, District Of Columbia 20001, United States Washington, D.C. United States 2349 80.9 57.9 0.892 20.912 0 3.071 198.982 0.866 26.927 0 8.147 207.555 0.847 28.699 0 11.045 211.553 0.825 32.1 0 16.123 218.339 0.787 36.178 0 23.15 229.832
715 Birchstrasse 160, 8050 Zürich, Switzerland Zurich Switzerland 2071 44.58177 40.850578 0.027 4.71 0 0.011 111.607 0.029 5.901 0 0.062 121.958 0.029 6.347 0 0.11 123.638 0.03 7.036 0 0.2 123.986 0.029 8.054 0 0.459 124.161

It is important to emphasise that climate hazard data does not necessarily reflect the level of risk; it reflects only the severity level of a hazard for a particular location.  The data can then inform an assessment of the actual risk to the business, as well as potential responses. We are using this analysis to inform our risk assessments and business decisions. We recommend that other companies do the same.

We help companies achieve climate sustainability

To be a truly sustainable business, companies need to address both:

  • Their impact on the climate (decarbonisation)
  • The climate’s impact on them (climate risk)

From benchmarking and baselining to decarbonisation strategy, roadmaps, implementation and reporting, our solutions - coupled with diverse teams of experts - provide our clients with access to the latest thinking and approaches to support their decarbonisation and climate risk journeys.

  • We help clients manage their impact on the climate through net zero transformation
  • We help clients manage climate risk and build resilience
    • We support clients to apply the methodology in the Task Force on Climate-related Financial Disclosures framework (TCFD) to analyse their climate risks and opportunities. Make no mistake - governments and regulators are increasingly focused on requiring standardised disclosures based on TCFD - a rigorous framework that requires transparency on climate-linked governance, strategy, risks, and metrics.
    • We use proven methods to help our clients model their risks and plan to mitigate them.
    • For managing risk across a portfolio, our Climate Excellence approach helps investors and companies identify, quantify and manage climate risk across a portfolio of assets.

In addition, we help companies access sustainable capital - be it private equity or other green financing options – and navigate a fast-evolving environment of green taxation.

To see how we’re addressing our own impact on the climate while mitigating our climate risk, see our 2022 Climate Disclosures Report.

We’re upskilling our audit teams in assessing climate risk in company financial statements

It's our responsibility as auditors to obtain reasonable assurance that financial statements as a whole are free from material misstatement. To do this, we need to identify and assess risks of material misstatement – which can include risks related to climate.

That’s why we’re accelerating our efforts to upskill our auditors to consider a company’s climate-related risks and assess whether these risks could give rise to material misstatement in financial disclosures. This is part of our wider effort to upskill people across the PwC network to build consideration of climate risk into their work. 

We're helping to drive structural change across society

We’re helping to power the deep, systemic change required to make the world truly sustainable. Systemic change requires the public and private sectors to work in tandem to fuel the flywheel of progress. The goal is to create a virtuous circle, where efforts in one area enable progress in others and help speed the flywheel.

Flywheel of progress: Market making - Public and political will - Policy and regulation - Innovation and product development

No single lever of change is enough on its own. For example, ESG investing can encourage positive outcomes, but it has limits. Our Global Investor Survey revealed that while investors can exert pressure on companies to hold them accountable for how well they manage ESG issues, they’re generally not willing to sacrifice investment returns for good ESG performance.

Much more progress is needed if the world is to become truly sustainable. Let’s look at our efforts this year to foster progress on each part of the flywheel.

 

1
Market making

Market-making drives progress by creating functioning markets where businesses can exercise their creative power to deliver a green transition at speed and scale. This means ensuring myriad elements such as financing, demand and infrastructure are in place. This year, we’ve helped to deliver critical infrastructure for the net zero transition.

 

Case
Study

Building infrastructure to export Australian sunshine

We’re helping to solve crucial infrastructure challenges to make net zero possible

The world can generate significant renewable energy, but not always in the locations where the power is needed. To reduce reliance on fossil fuels, we have to find ways to transmit renewable energy from where it is abundant to where it can be used. A PwC Australia community of solvers including tax and legal specialists, economists, infrastructure experts and more, is helping deliver the Australia-Asia PowerLink which will export Australian solar power to Singapore. The project could reduce Singapore’s emissions by 6 million tonnes per year, closing the entire gap between Singapore’s current emissions levels and its 2030 targets. Learn more here.

 

2
Innovation and product development

To avoid the worst effects of climate change, we need to make green options feasible, affordable and appealing. This will require innovation on a heroic scale in areas ranging from green hydrogen to carbon capture. 

We’ve analysed where climate tech investment is currently going – and where it’s needed most

Our climate tech report found some good news: In 2021, global climate tech investment has skyrocketed to more than US$87 billion. However, the investment isn’t always going to the areas where it’s most needed. For example, mobility and transport are responsible for only 16% of carbon emissions but received 61% of investment. On the other hand, the built environment (houses, cities, etc.) generates 21% of emissions but receives only 4% of investment. Our work highlights how investment could potentially be rebalanced to provide better outcomes for both investors and the planet. 

Emissions versus green investment
Label Mobility and transport Industry and manufacturing and resource management Food and agriculture Energy Built environment
Share of global emissions (2016) 16% 29% 20% 14% 21%
Share of global climate-tech venture investment (2013H1- 2021) 61% 9% 12% 15% 4%
  • Mobility and transport
  • Industry and manufacturing and resource management
  • Food and agriculture
  • Energy
  • Built environment
Source: PwC's State of Climate Tech Report 2021

To discover which sectors could be the climate tech winners of the future, watch this video featuring our Global Climate Leader, Emma Cox. 

Playback of this video is not currently available

1:53

We’re encouraging the use of sustainable aviation fuels

Sustainable aviation fuel (SAF) from renewable sources is recognised as one of the most viable ways to decarbonise aviation. However, it’s expensive. If demand for it goes up, this could encourage increased investment in supply which could eventually bring prices down. But while prices are high, demand stays low. Therefore, widespread adoption suffers from a ‘chicken-and-egg’ trap. In partnership with the World Economic Forum, PwC Netherlands developed accounting and reporting guidelines for the Sustainable Aviation Fuel certificate (SAFc), a market-based mechanism which makes it easier for businesses to support the SAF growth while taking ownership of their goals to reduce emissions.

In addition, we’re directly helping to increase demand for SAF. PwC Netherlands is the first of our firms to move to 100% SAF. PwC Netherlands will buy SAF for every mile flown by employees from 2022 onwards. PwC China is one of Cathay Pacific’s first customers to support the airline in increasing its use of SAF. Finally, PwC has joined the First Movers Coalition, an alliance designed to leverage the collective purchasing power of companies globally to send a demand signal to scale up emerging technologies - like SAF - that are essential to the net zero transition. 

An ESG reporting tool from PwC China wins PwC’s Global Innovation Challenge

PwC China won our annual Global Innovation Challenge (a PwC competition to recognise the best innovations across our global network) with an ESG reporting tool that combines data collection and management on one platform. It streamlines the processing and conversion of ESG data with analytics and visualisation capabilities to monitor ESG performance.

We’re innovating to drive behaviour change

Our community of solvers from PwC Netherlands, PwC France and PwC Canada developed an app called Environmental Footprint Insights that helps companies and people easily see, track and reduce their carbon footprint in real time. It helps people make informed decisions to shrink their emissions. This project was also one of the Global Innovation Challenge winners in 2021. 

Looking ahead, we’re collaborating with the World Economic Forum to drive action on climate change adaptation

While we strive to prevent the worst of global warming, we must also adapt to climate change. That’s why we’re collaborating with the World Economic Forum to develop a business agenda on climate change adaptation. We are supporting the Forum in convening a global community of public- and private-sector stakeholders to articulate and endorse concrete steps that businesses can take on climate change adaptation. As a network, we’re working towards publishing a white paper for COP27 that will build the business case for climate change adaptation and present a framework for business action with a call to action by leading corporates.

 

3
Policy and regulation

We need government policies, standards, and regulations to incentivise actions aligned with net zero and to provide the clear market signals business requires to act and invest with confidence. 

We advocate for a robust policy environment that can accelerate the sustainable transition at pace and scale – including a meaningful carbon price

Our Global Chairman, Bob Moritz, joined the heads of other major organisations in signing a letter to the G7 called ‘Flipping the Switch’. The letter urges world leaders to take action to protect the planet – including by introducing a meaningful carbon price. To help advance policy development on carbon pricing, we worked with the World Economic Forum to investigate the feasibility of a global carbon price floor. We found that this initiative could pay for itself while driving a 12% reduction in carbon emissions. We’re partnering with the World Economic Forum to continue exploring the vital topic of carbon markets. Our findings will inform debate at global events such as the World Economic Forum’s Annual Meeting in Davos.

In 2022, we continued our years of advocacy for globally aligned sustainability reporting standards

Our leaders vigorously support the development of baseline global sustainability reporting standards. Reporting standards encourage and enable the right capital allocation and investor decisions to promote sustainable behaviour. Reporting, backed by independent assurance, creates transparency and accountability which in turn help to create change. 

‘High-quality reporting … can empower investors to allocate capital to businesses that are working to create sustainable value. And it can empower other stakeholders to decide whether to buy from, sell to or work for a company. In this way, reporting can drive the business transformation needed to address these vital issues facing the world today.’

Gilly Lord, Global Leader, Public Policy and Regulation, PwC UK and Nadja Picard, Global Reporting Leader, PwC Germany

Our Global Chairman, Bob Moritz, and our Global Reporting Leader, Nadja Picard, joined the chairs of two leading sustainability standard setters (the International Sustainability Standards Board and the Global Reporting Initiative) at Davos this year to discuss how the widespread adoption of high-quality, globally aligned standards can drive the change the world needs – and how to make these standards a reality.

Transparent, comparable and trustworthy sustainability reporting is becoming an increasingly vital source of information for assessing business performance. Solely focusing on financial results is no longer enough.”
kai lakhdar
Nadja Picard
Global Reporting Leader, PwC Germany

We are supporting the development of frameworks that help to protect nature

Our research shows that more than half of the world’s GDP is moderately or highly dependent on nature. We’re helping to design the systems and frameworks that will deliver the trusted information needed to underpin a nature-positive transition – that is, building a society and economy that support the health of the natural world on which we all depend.

PwC Canada partner Dan O'Brien is a member of the Taskforce on Nature-related Financial Disclosures (TNFD). TNFD is developing a risk management and disclosure framework for organisations to report and act on evolving nature-related risks. Its ultimate aim is to support a shift in global financial flows away from nature-negative outcomes and toward nature-positive ones.

 

4
Public and political will

To maintain public and political will for the journey to sustainability, we must deliver a just transition, managing the social and human impact of emissions reductions with compassion for all people and nations. This includes managing the effects on people’s livelihoods as jobs in some high-emission sectors decline. To inform debate on a just transition, PwC UK’s Green Jobs Barometer tracks where green jobs are being created and other jobs lost as part of the UK’s green transition. Our work indicates where support and investment are needed to help achieve a fair transition that’s good for both the planet and people.

In addition, we’re part of multiple alliances and partnerships that seek to fuel our collective will to take assertive action on climate change. For more information, please see the Alliances section below. 

We're building ESG alliances

We’ve seen the importance of all parts of society coming together to create positive change. This year, we convened business leaders and participated in strategic alliances to advance progress on ESG issues. See our 2022 Climate Disclosures Report for more information on how we’re working with others to advocate for change and accelerate the global policy agenda.

 

We’re engaged in a wide range of strategic alliances and global fora, shaping strategic discussions while sharing our ESG and climate expertise

WEF WBCSD GFANZ NZFSPA Race to Zero UN Climate Champions Task Force for Climate-related Financial Disclosures Taskforce for Nature-related Financial Disclosures Sustainable Markets Initiative LEAF Natural Climate Solutions Investment Accelerator The Carbon Call First Movers Coalition Business Ambition for 1.5C Clean Skies for Tomorrow Count Us In Global Solutions Summit COP26 WEF Annual Meeting Davos B20/T20 APEC Asian Corporate Coalition for Climate Change Resilience (A4CR)

Here’s just one example of our alliance partnerships this year. We’re proud to have joined the Lowering Emissions by Accelerating Forest finance (LEAF) Coalition, expected to become one of the largest ever public-private efforts to protect tropical forests by mobilising at least US$1billion in financing for protection initiatives.

In addition, we work with technology and business partners such as Oracle, Microsoft, SAP, Google and many others. By combining our capabilities, we can achieve even greater progress on ESG challenges. 

We're honing ESG skills across our global community of solvers

We’ve made ESG training available to our whole network while expanding our internal pool of ESG experts

We believe that ESG skills are increasingly like digital skills. Everyone needs to have a certain baseline level of competency. We’re proud that over 93,000 PwC people have undertaken ESG training through our global ESG Academy, supplemented by additional local learning in many territories. In addition, we’re building global ESG Centres of Excellence to help our people learn and support them in their work. For example, we’ve established a water specialist group in India, a hydrogen-focused group in Germany, as well as nature and biodiversity expertise across the world.

We're striving to improve our own ESG performance

We’re on track to reach all of our commitments to achieve net zero emissions by 2030.

50% absolute reduction in scope 1 and 2 greenhouse gas emissions by FY30 versus FY19 levels - 50% reduction in scope 3 emissions from business travel by FY30 versus FY19 levels - 50% of our purchased goods and services suppliers (by emissions) across our network to set science based emission reduction targets by FY25 - 100% renewable electricity used in all our territories by FY30 (already at 90%)

We've already reduced our Scope 1 and 2 emissions by 66% and our total emissions by 37%. Every one of our member firms across all 152 countries where we operate have been asked to produce local net zero action plans. This will help us achieve our network-wide, science-based commitment to reach net zero by 2030. Territory senior partners are evaluated on delivery of the net zero plans, ensuring accountability at the highest level. Implementation plans are now in place that cover 99% of our network's baseline emissions. From our next financial year, 100% of our member firms have plans to offset 100% of energy and mobility emissions (Scope 1, 2 and Scope 3 business travel).

Our ESG efforts don’t stop at climate. To see more ways that we are striving to make a positive impact across issues related to Governance, People, Planet, and Prosperity, please see our WEF Stakeholder Capitalism Metrics Report. For a survey of our humanitarian and pro-bono work, please see our Impact chapter.

 

In conclusion

Tackling climate change is humanity's biggest challenge since World War II.”
bob moritz
Bob Moritz
Global Chairman, PwC

If we are to make progress on climate change and all ESG challenges, every part of society must work together. We’re striving to help our clients do the right things on ESG while also helping society as a whole achieve the deep structural change needed to make real progress. 

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Sarah Brown

Sarah Brown

Director, Global Corporate Affairs and Communications, PwC United Kingdom

Tel: +44 7384 248 785

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