Ernst & Young

RATING

SECTOR

Business Services

WEBSITE

CONTACT

1 More London Riverside, London SE1 2AF, United Kingdom

STOCK EXCHANGE

LISTING

  • Among the top 50 places in the “Where Women Want to Work” for 2007 
  • Ranked 1st in BusinessWeek’s annual list of “Best Places to Launch a Career” for 2008
  • Ranked 44th in Fortune list of “100 Best Companies to Work For”, and the highest among the “Big Four”, for 2009
  • Ranked 34th in ComputerWorld’s “100 Best Places To Work For in IT” for 2009
  • Ranked 4th in Universum’s America’s “Ideal Employers” list 2011 and 3rd in its Global Top Employers list
  • Ranked No. 1 in Forbes magazine’s “The Best Accounting Firms to Work For” in 2012
  • Named as one of the “10 Best Companies for Working Mothers” by Working Mothers magazine in 2012 for the 7th straight year
  • In 2012, ranked number 1 in the “Stonewall Top 100 Workplace Equality Index“, a list of Britain’s top 100 gay-friendly employers. In 2013, ranked number 6 in the same Workplace Equality Index
  • Earned 100% rating on “Human Rights Campaign Corporate Equality Index” in 2013
  • Named one of DiversityInc magazine’s Top 50 companies for diversity in 2013
  • Ranked 4th in a 2013 survey “Universum Top 100 IDEAL Employer”,  on the perception of future employers among business students in the U.S. 
  • In 2014, EY was ranked 2nd in Universum World’s Most Attractive Employers, a survey that reveals perception of future employers among business students by an employer branding firm.
  • In 2015 Forbes ranked the company #230 of America’s Best Employers, and #216 of Canada’s Best Employers.
  • In 2016, EY was ranked 3rd in Universum World’s Most Attractive Employers, and ranked 1st in area of professional services employers, in a survey that reveals perception of future employers among business students by an employer branding firm.
  • Forbes list EY as one of the Best Management Consulting Firms for 2017
  • According to RAEX (Russian ratings agency), EY was recognized as the best place to work for in 2016

EMPLOYEES

298,965

CHIEF SUSTAINABILITY OFFICER

Steve Varley

AWARDS

  • P&G recognizes EY as 2016 External Business Partner of the Year
  • P&G recognizes EY with 2016 Excellence Award
  • Microsoft 2016 Central Region Alliance Partner of the Year
  • Microsoft 2017 Worldwide Cognitive/Advanced Analytics award 
  • Microsoft Digital Innovation Award for Dana engagement
  • Membership to the 2018/2019 prestigious Inner Circle for Microsoft Dynamics
  • Microsoft 2018 Canada Winning Together IMPACT Award
  • Microsoft 2018 Consulting & SI Drive Digital Transformation with Customers through Partners Award
  • Microsoft 2018 Government Partner of the Year Award finalist for EY Child Welfare Intelligence Solution
  • Microsoft 2018 Singapore Partner of the Year Award – Artificial Intelligence and Analytics
  • Microsoft 2018 US Partner Award – Data & Artificial Intelligence
  • IBM 2019 Systems Integration Partner of the Year Turkey
  • EY celebrated as Adobe 2019 Emerging Solution Partner of the Year, Digital Experience
  • Microsoft 2020 Global Inner Circle Microsoft Business Apps Award
  • Microsoft 2020 US Partner of the Year – Modern Workplace for Firstline Workers
  • Microsoft 2020 Ireland Partner of the Year – AI & Machine Learning
  • Microsoft 2020 Advisory Services Global Partner of the Year
  • Microsoft 2020 Energy Global Partner of the Year
  • Microsoft 2020 Financial Services Global Partner of the Year
  • Microsoft 2020 LATAM Partner of the Year in the AI & Machine Learning category
  • Membership to the FY20 Microsoft Business Applications Inner Circle
  • EY is a 9-time winner of the SAP Pinnacle Awards in various categories and has received the 2020 Partner of the Year awards in both XM (Experience Management) and Finance Transformation
  • EY recognized as Blue Prism 2020 Excellence in Connected RPA Award for Innovation Excellence, showcasing their commitment to enabling their clients’ digital transformation journeys through innovation and the adoption of the connected-RPA platform
  • Enablon named EY as the Partner of the Year in both 2019 and 2020, indicating EY as the preeminent services provider for its software
  • he Pega 2020 Excellence in Digital Transformation Award recognizes EY for on-going intelligent automation transformation, instituting innovative process-driven methodology while bringing enhanced User Experience and Change Management competencies
  • SAS has chosen EY as the winner of its 2020 Global Partner of the Year in recognition of EY’s commitment to collaboration, innovation and contributions to the SAS alliance community
  • 2020 ServiceNow Global Transformation Partner of the Year for providing a game-changing solution that significantly transformed the client’s business while delivering outstanding value and outcome

CONTENT SOURCE

FURTHER READING

Report created by Kavita Kripalani

Ernst & Young

SECTIONS :  Sustainability    Evaluation  •  Progress  •  Watch  •  Overview

Company Activity

Ernst & Young provides audit, tax, business risk, technology and security risk services, and human capital services worldwide.

The company, one of the Big Four accounting firms, dates back to the early twentieth century. Scotsman Arthur Young and American Alwin Ernst founded their separate companies in 1906 and 1903, respectively. The companies merged in 1989. Today the company employs over 200,000 people and operates in over 150 countries.

Ernst & Young (EY), is a multinational professional services network with headquarters in London, United Kingdom. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and PricewaterhouseCoopers, it is considered one of the Big Four accounting firms.

EY primarily provides assurance (which includes financial audit), tax, consulting and advisory services to its clients. Like many of the larger accounting firms in recent years,  EY has expanded into markets adjacent to accounting, including strategy, operations, HR, technology, and financial services consulting.

EY operates as a network of member firms which are structured as separate legal entities in a partnership, which has close to 300,000 employees in over 700 offices in more than 150 countries around the world.

In 2019, EY was the seventh-largest privately owned organization in the United States. EY has continuously been ranked on Fortune magazine’s list of the 100 Best Companies to Work For for the past 21 years, longer than any other accounting firm.

Company Sustainability Activity

According to their global environment statement, EY is committed to building a better working world — one that creates sustainable and inclusive economic growth.

They recognize that the responsibility to minimize the environmental impact of EY business operations extends to EY people and clients and to the wider communities in which people all live.

As a global organization, all EY member firms are expected to meet — and encouraged to exceed — the guidance outlined in this statement. EY will continually challenge member firms to innovate and improve environmental performance.

Climate change and other environmental issues represent opportunities and challenges to the capital markets and to the communities that EY serves.

EY advises and supports its clients as they deal with complex global environmental challenges and the impacts on their businesses. EY seeks to act as conveners, thought leaders and advisors for the broader business community, and can influence leading practices in environmental stewardship.

A fundamental part of their culture is empowering EY people to drive positive change. EY provides tools and training on the environmental impacts of EY activities and on relevant mitigation measures.

By supporting a culture of disruptive innovation, EY strives to find creative solutions that address global environmental challenges and creates a better world for their people, clients, business and communities. Member firms are expected to: 

    • Comply with applicable laws, regulations and standards and aim to exceed minimum requirements 
    • Integrate environmental considerations into business decisions and employ leading practices where applicable 
    • Support EY clients in achieving their long-term business objectives inclusive of their environmental and social goals 
    • Provide management teams with the tools and resources to make progress on the relevant environmental initiatives

Highlights

  • Target of cutting greenhouse gas (GHG) emissions by 12% by 2020, with an FY15 baseline, aiming to reduce carbon output from office energy consumption by about 3% and business air travel by 9%.
  • Through work with the Task Force on Climate-related Financial Disclosures and the Embankment Project, EY professionals gain understanding of current trends and a broad set of stakeholders.

Targets

HUMAN AND LABOR RIGHTS

    • Creating an exceptional experience for their people 
    • Strengthening a diverse and inclusive culture 
    • Promoting diversity to produce broad opportunities and experiences across teams and service lines 
    • Developing purpose-driven leaders 
    • Listening to and recognizing  people 
    • Being recognized as a “great place to work” 
  • Inside EY’s supply chain
    • Driving responsibility in their supply chain 
    • Increasing supplier diversity
  • In communities 
    • Driving inclusive growth 
    • Supporting the next generation 
    • Involving people 
    • Working with others for positive change 
    • Aligning action through global coordination 

ANTI-CORRUPTION

How EY does business: 

    • Living by their values 
    • Upholding the highest professional standards 
    • Reinforcing their commitment to quality 
    • Engaging with stakeholders 
  • Serving the public interest through their services
    • Building trust and confidence in the capital markets 
    • Tackling corruption in all its forms 
    • Helping businesses to innovate with purpose 

ENVIRONMENT

  • Helping their clients become more sustainable 
  • Positively influencing change 
  • Managing their own impact

Progress

REDUCING ENVIRONMENTAL FOOTPRINT 

    • 12% Greenhouse gas emissions reduction target for 2020 
      • 849 miles of air travel by EY US employees in FY17 
      • 849 years spent in the air during all that travel
    • Working with stakeholders to promote improved environmental performance 
    • Executing a dedicated communications strategy to generate awareness and educate employees about environmental sustainability 
    • Collaborating with leading nongovernmental organizations to promote sustainable business practices
    • Complying with applicable laws, regulations and standards relating to EY’s environmental impacts and aiming to exceed their minimum requirements

Certificates

N/A

UN Sustainable Development Goals

UN SDGs Compliance

 SDG 4

  • To avoid future skills gaps and help build diverse and inclusive workforces, EY utilizes leadership skills and technical knowledge to work for youth and further aspirations of this goal through the following initiatives: College Mentoring for Access and Persistence (MAP), Junior Achievement (JA), Boys and Girls Clubs of America (BGCA), and STEM Advantage. 

SDG 5

  • EY’s efforts in diversity and inclusion further their business strategy and also address this goal of gender equality through diversity and inclusiveness,  their Americas Inclusiveness Advisory Council (IAC), and their involvement with Obama Administration’s Equal Pay Pledge which requires them to conduct annual company-wide gender pay analysis across job roles and embed equal-pay efforts into broader initiatives. 
  • In 2017, they announced that they will not inquire about previous salaries during new hire negotiations and offers. 
  • EY’s Fast forward platform is an accelerator that employs their collective knowledge, experiences and convening power to push themselves further and to help accelerate global gender parity. Their Entrepreneurial Winning Women North America competition and executive education program identifies a select group of high-potential women entrepreneurs whose businesses show real potential to scale — and then helps them do it. 

SDG 8

  • EY’s Entrepreneur Of The Year program celebrates those who are building and leading successful, growing and dynamic businesses, which they claim that since its founding has added trillions of dollars to the economy
  • the EY Vantage program connects future EY leaders with the market leaders of tomorrow to accelerate growth and create jobs, working closely with Endeavor Global to select the most promising entrepreneurs who could benefit from EY’s help to overcome their biggest obstacles
  • EY’s Network for Teaching Entrepreneurship (NFTE) is a global nonprofit focused on bringing entrepreneurship education to teens from under-resourced communities. EY US partners serve on 9 of the 11 NFTE regional advisory boards across the US.

SDG 12

  • The EY Global Procurement Policy applies to all EY member firms. In addition to requiring compliance with independence rules and doing business in a responsible way, the policy also requires all member firms, including EY US, to evaluate the impact of procurement decisions and encourage suppliers to support sustainability initiatives. EY’s Supplier Diversity Initiative seeks out businesses owned by minorities, women, LGBT+ people and people with diverse abilities that can enhance their competitive advantage and provide innovative and cost-effective services for their clients. EY states that their commitment to supplier diversity is reflected by an increase in spend — up 19% year over year.

SDG 16

  • The EY Global Code of Conduct sets the foundation for their data protection practices and states that EY people respect and protect confidential information obtained from, or relating to, their clients or third parties, as well as personal information about their people, in accordance with local law and professional standards. EY’s Global Conflicts of Interest Policy defines global standards for categories of conflicts of interest and a process for identifying potential conflicts of interest. The EY Confidentiality Global Policy expands on the Global Code of Conduct’s requirements and emphasizes the importance of protecting all confidential information throughout the entire data life cycle. EY’s Quality and Professional Practice functions to advise, support and enable people, and to implement quality initiatives to a consistently high standard.

SDG 17

  • EY sponsors initiatives that support Black and hispanic communities as well as the LGBT+ community. 
  • EY has been an exclusive provider for the Paralympics, in support of people with diverse abilities and EY’S Neurodiversity program  seeks out individuals on the autism spectrum.
  • The EY US Climate Change and Sustainability Services team helps clients to create more sustainable, profitable enterprises, and further activates their purpose to build a better working world. Their multidisciplinary team of professionals combines their core experience in assurance, tax, transactions and advisory with environment, health, safety and sustainability skills and deep sector knowledge. 

Secondary SDGs: 1, 2, 3, 9, 10, 11, 13

Evaluation

EY provides a sustainable agenda that encompasses several facts of ethical and equitable corporate governance. They hold many impressive business awards and rankings that reflect strong employee and client engagement.

However, there is much room for growth with regard to sustainability. They do not hold any sustainability certificates whatsoever.

Although they claim to be working towards sustainability and have made a decent effort to align with the UN17 SDGs, they neglect to identify sustainability targets, as well as their progress toward specific sustainable goals.

Without these goals delineated, it is unclear as to whether or not the company is partaking in unsustainable activities.  EY has been rated a C.

Analyst Outlook: Neutral 

EY has touched on sustainability, but is neither a leader nor a straggler in their initiatives. 

Key Points

  • EY is a proud participant in the United Nations Global Compact (UNGC), and their environmental strategy has been designed in alignment with the UNGC environmental principles.
  • The company has notable listings and awards, but does not have any certification
  • Though the company’s targets could be more specific
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