- PwC commits to decarbonise its operations and supply chain, which includes 
reshaping how it serves clients, sustained reductions in travel and the 
increased use of zero carbon energy.
- PwC will embed the implications of climate change and other Environmental, 
Social and Governance (ESG) related factors across the work it does with 
clients, from strategy to implementation. 
- PwC will continue to advance corporate reporting standards that champion 
comprehensive non-financial reporting practices. 
- PwC is continuing its commitment to our long-standing programme of research 
and collaboration with businesses, policy makers and non-governmental 
organisations to accelerate the transition to a net zero economy.

Today, PwC is making a worldwide science-based commitment to achieve net zero 
greenhouse gas (GHG) emissions by 2030. The commitment includes supporting our 
clients to reduce their emissions as well as reducing those from the PwC 
network's operations and suppliers.

PwC commits to decarbonise its operations, including its travel footprint, and 
neutralise its remaining climate impact by investing in carbon removal 
projects. It will also engage its suppliers to tackle their climate impact.

The PwC network ("the network") will work with its clients to support their 
efforts to make a net zero future a reality for all. In FY20 (July 2019-June 
2020), PwC firms provided services to 84% of the Global Fortune 500 companies 
and more than 100,000 entrepreneurial and private businesses. It is this 
position that will allow PwC to play an integral role in driving the transition 
to a low-carbon economy worldwide.

To support these efforts, the network will continue to contribute to public 
policy developments in support of net zero at national, regional and global 
levels.

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." 

Raising our ambition further, faster

The network's net zero goal includes a science based target aligned with a 
1.5°C trajectory. PwC commits to reducing its total greenhouse gas emissions 
by 50% in absolute terms by 2030. This includes a switch to 100% renewable 
electricity in all territories, as well as energy efficiency improvements in 
our 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.

PwC will also invest 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. Our projects will be selected on the basis of quality 
criteria and verification of carbon reduction impact, and will also support 
broader local economic and social development co-benefits. 

Working with our clients to accelerate net zero transformation

To address the climate challenge, a radical transformation is needed in every 
sector of the global economy and all parts of the world.  

With global reach across 157 countries, industry coverage, and its 284,000 
people that support clients at every stage – from reshaping strategy and 
transformation, to deals, reporting, audit, and tax – the PwC network has a 
huge opportunity to accelerate the transition to a net zero future in 
collaboration with its clients.   

The network supports organisations as they develop and implement concrete plans 
for how to get to net zero. This includes re-alignment of corporate strategy, 
people and talent, governance and accountability, operating model, innovation 
and research and development (R&D), tax strategy and reporting, and enterprise 
and supply chain transformation. Other areas include partnerships and 
alliances, and corporate affairs and regulatory engagement.

Building on existing client work in sustainability and net zero transformation, 
PwC will infuse science-led climate analysis into its areas of service. For 
example, its Advisory practice is integrating climate risks into relevant 
engagements, providing clients with insights about climate risks and 
opportunities as well as helping them to transform their business processes. 
Another major focus area will be integrating climate-related and other 
ESG-related factors into mainstream corporate disclosures and governance, where 
PwC's Assurance practice will support the development of high-quality, aligned 
disclosure and measurement standards and help clients embed these into their 
reporting and governance. Across its Tax practice, PwC will be helping clients 
understand how net zero transformation will impact tax strategy, transparency 
and compliance obligations, subsidy and incentive opportunities, and revenue 
impacts for both public and private sector organisations. 

To further scale its capabilities to support clients in these areas, PwC has 
appointed Peter Gassmann to lead its new global Environmental, Social and 
Governance practice. In addition, Nadja Picard has been appointed as PwC's new 
Global Reporting Leader to drive the network's support for clients to 
incorporate non-financial disclosures in their corporate reporting. 

Helping shape and accelerate the global climate and policy agenda

PwC supports reform that puts the needs of stakeholders at the heart of the 
market economy and connects goals, actions and outcomes into desired social and 
economic results that fuel long-term sustainability. Supporting the net zero 
transition is a key part of this process.

As stakeholder expectations rise, organisations increasingly need to report on 
their environmental and social impacts and demonstrate progress. As a result, 
there is a greater need for consistent, comparable ESG standards so investors 
and other stakeholders can clearly see how businesses are creating long-term 
value for the organisation and society. PwC is supportive of global efforts to 
develop transparent and robust ESG reporting frameworks and standards, 
including through work with the World Economic Forum International Business 
Council, the Financial Stability Board's Task Force on Climate-related 
Financial Disclosures (TCFD), the International Integrated Reporting Council 
(IIRC), the Global Reporting Initiative (GRI), and the Sustainability 
Accounting Standards Board (SASB), amongst others.

PwC will also contribute to broader understanding of how to achieve net zero. 
PwC 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[https://www.pwc.co.uk/services/sustainability-climate-change/insi
ghts/accelerating-the-journey-to-net-zero.html], as a contribution to the 
recently launched CEO-led Transform to Zero 
initiative[https://transformtonetzero.org/]. 

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."

Notes to editors

About PwC

At PwC, our purpose is to build trust in society and solve important problems. 
We're a network of firms in 157 countries with over 284,000 people who are 
committed to delivering quality in assurance, advisory and tax services. Find 
out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of 
which is a separate legal entity. Please see www.pwc.com/structure for further 
details.

Logo - https://mma.prnewswire.com/media/1121790/PWC_Logo.jpg 

Contact: 
Andrea Plasschaert, PwC 
Tel: +41 79 599 9567 
Email: andrea.plasschaert@ch.pwc.com  
More details: Follow/retweet: @pwc 

Source: PwC