PwC UN Global Compact Communication on Progress
We’re proud to have been a signatory to the United Nations Global Compact (UNGC) since 2002. We remain deeply committed to the UNGC’s Ten Principles for responsible business practices and steadfast in delivering positive societal and environmental outcomes. By embedding the Ten Principles across PwC’s operations, we hope to continue using our scale, knowledge and skills to make a difference for our broader stakeholders. We value our membership and look forward to continuing to work together to make sure business is a force for good in society.
Chairman's statement
“I am glad to reaffirm PwC’s commitment to the Ten Principles of the United Nations Global Compact (UNGC). Wider societal disruptions continue to pose serious challenges that the world must face – from humanitarian crises caused by conflicts, to the impacts of the pandemic on people and economies, to the ongoing threat of climate change and more. We believe that business has a key role to play in helping to address these challenges and we are committed to playing our part.”
As part of PwC's strategy, The New Equation, we are working as a community of solvers to bring the best of our people, powered by technology, to help build trust and deliver sustained outcomes at scale. PwC believes that our economies need to be recoupled with societal progress in order to create a more sustainable, equitable and just world, and we are committed to furthering progress towards the Sustainable Development Goals (SDGs), which are critical to addressing the design problems in our economy. After all, business does not prosper in societies that are not prospering.
Social inclusion
Embedding a culture of belonging and equity is a critical step to building trust within our organisation and working together to deliver sustained outcomes for our clients and broader stakeholders.
Across the PwC network, our firms are focused on a wide range of social inclusion initiatives, such as:
- PwC US - Skills for Society
- PwC US - Access Your Potential
- PwC UK - Social mobility community programme
- PwC Canada - Girls E-Mentorship
- PwC Middle East - Digital Heroes
- PwC South Africa - Youth Engaged Programme (YEP)
We have also committed as a network to support a number of key partnerships to expand our impact. We joined the Valuable 5001 to strengthen disability inclusion in the workplace and have appointed our first Global Disability Leader to guide the strategy within our firms. Additionally, we remain dedicated members of the HeForShe Alliance2 and the Partnership for Global LGBTI+ Equality3 to advance inclusion and social progress within our workplace and the communities in which we operate.
1 The Valuable 500
2 HeForShe Alliance
3 Partnership for Global LGBTI+ Equality
Environmental sustainability
Since announcing PwC’s 2030 net zero commitment in 2020, we are pleased to have had our targets validated by the Science Based Targets initiative (SBTi). Importantly, our targets cover emissions across our whole value chain, including both direct and indirect emissions across scope 1, 2 and 3. We also extended switching to 100% renewable electricity to all of our operations by 2030.
Our net zero commitment will require us to transform our business model to decarbonise our value chain, increase transparency, and support the development of robust ESG reporting frameworks and standards. Recognising that our commitment is going to take an effort across our whole business, we have appointed Net Zero Leaders for every geography where we operate.
Reform and transparency
We believe there is an urgent need for systemic economic reform to reset incentives and align economic interests with societal interests. This conviction is at the heart of our active engagement in global dialogues about the future of corporate reporting. By making it easier for investors and other stakeholders to understand how a company is performing on key societal issues, reporting empowers them to allocate capital and support to organisations that are managing risk effectively and creating sustainable value. Reporting can drive the business transformation needed to address global issues like climate change and social disparities.
We have continued to work with a wide range of stakeholders on the quest to develop a common set of non-financial reporting metrics.
- We support the establishment of the International Sustainability Standards Board (ISSB), as well as the announcement from the Global Reporting Initiative (GRI) and the ISSB on their intention to coordinate their work programmes and standard-setting activities.
- We have also continued our collaboration with the World Economic Forum International Business Council to promote the universal set of ESG metrics that it published in 2020, and are on our own journey towards increased transparency, which includes reporting on the 21 core stakeholder capitalism metrics in our Global Annual Review.
We also continue to engage with major global organisations including the G20, OECD, UN, EU on advancing globally accepted non-financial reporting standards.
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Colm Kelly
Global Corporate Sustainability Leader, PricewaterhouseCoopers International Limited
Global Corporate Sustainability Managing Director, PricewaterhouseCoopers International Limited