PricewaterhouseCoopers

RATING

SECTOR

Business Services

WEBSITE

CONTACT

300 Madison Avenue
New York New York 10017-6204

STOCK EXCHANGE

N/A

LISTING

N/A

EMPLOYEES

284,258 employees

CHIEF SUSTAINABILITY OFFICER

Louise Scott

AWARDS

  • Fortune 100 Best Companies to Work For 2020
  • #70 Forbes Most Valuable Brands
  • #85 Best Employers for Diversity 2020

CONTENT SOURCE

FURTHER READING

Report created by Maribel Sabino

PricewaterhouseCoopers (PwC)

SECTIONS :  Sustainability    Evaluation  •  Progress  •  Watch  •  Overview

Company Activity

PricewaterhouseCoopers (PwC) is a multinational professional services network of firms, operating as partnerships under the PwC brand delivering assurance, tax and consulting services for businesses.

PwC’s professional services, including audit and assurance, tax and consulting, cover such areas as cybersecurity and privacy, human resources, deals and forensics.

PwC ranks as the second-largest professional services network in the world and is considered one of the Big Four accounting firms, along with Deloitte, EY and KPMG.

Company Sustainability Activity

PwC has made a commitment to achieve net zero emissions by 2030 and have helped to maximize the potential of 13.7 million people. By achieving compliance with the UN Sustainable Development Goals allows the company to address problems of this era. PwC’s goals include:

  • Support change that people and organizations can make in the current context. Their focus has been on two areas: inclusivity and environmental sustainability. 
  • Help solve the design problem with policy makers, standard setters and others. Their focus has been on helping improve the quality of information in the system by supporting efforts to align and embed non-financial reporting.
  • Climate: The climate emergency has never been more pressing and in response we recently published a plan of how we intend to be a “net zero” organization by 2030.

Highlights

  • Achieve net zero GHG emissions by 2030
  • 100% renewable by 2022 across their 21 largest territories

Targets

Environmental sustainability and net zero

  • Achieve net zero GHG emissions by 2030
  • PwC has committed to reduce their total greenhouse gas emissions by 50% in absolute terms by 2030
  • Switch to 100% renewable electricity in all territories, as well as making energy efficiency improvements in their offices and halving the emissions associated with business travel and accommodation within a decade
  • In October 2018 PwC committed to drive efficiencies, go 100% renewable, and offset 100% of their air travel emissions

Progress

Environmental sustainability and net zero

  • In FY20, emissions associated with flights alone represented around 83% of their total carbon footprint (FY19: 85%)
  • PwC’s Scope 1 and 2 emissions reduced by 14% and 25% respectively
  • There was a reduction – 29% – in their Scope 3 emissions from last year due to COVID-19 restricting both domestic and international air travel
  • In FY20, PwC purchased 71% of our electricity from renewable sources, which supports our goal of becoming 100% renewable by 2022 across our 21 largest territories (FY19: 65%)

Certificates

  • ISO-14001

UN Sustainable Development Goals

UN SDGs Compliance

SDG 4

  • In the US, PwC is helping to build a more equitable society by enabling its people to use their time, skills and experiences to address social injustices.  Through their pro bono program, Skills for Society, employees receive 40 hours to help nonprofit organizations and educational institutions address systemic causes that contribute to the opportunity gap.

SDG 5

  • In FY20, 50% of college hires (FY19: 51%) and 47% of experienced hires (FY19: 45%) globally were female. One of their priorities is to retain a greater proportion of women and increase female experienced hires to achieve higher female representation at senior grades, particularly director. PwC member firms around the world have many different programs in place to help women reach their full potential
  • In FY20, PwC was named one of the Top Companies for Women Technologists by AnitaB.org, whose goal is to achieve 50/50 gender representation in the tech industry by 2025.

SDG 7

  • In FY20, PwC purchased 71% of our electricity from renewable sources, which supports our goal of becoming 100% renewable by 2022 across our 21 largest territories (FY19: 65%)

SDG 8

  • In March 2019, PwC Australia and its indigenous Consulting firm launched a public action plan with endorsement from Reconciliation Australia, the national lead organization for reconciliation with First Nations peoples in Australia. Guided by the principles of the United Nations Declaration on the Rights of Indigenous Peoples, the plan is focused on increasing economic participation, deepening the firm’s cultural fitness, and building trusted strategic relationships with Aboriginal and Torres Strait Islander peoples.

SDG 10

  • In August, the firm published its first-ever Diversity & Inclusion Transparency Report which outlines how it will build upon a culture of belonging. As the co-founder of CEO Action for Diversity & Inclusion, together with more than 1,300 CEOs of the world’s leading companies and business organizations, the firm is advancing diversity and inclusion in the workplace. To further accelerate progress, it has recently launched CEO Action for Racial Equity, a two-year fellowship that provides the opportunity for CEO Action signatories to advance racial equity through public policy.

SDG 13

  • PwC has been a proud signatory to the UN Global Compact since 2002, and are committed to operating responsibly in line with its ten principles

SDG 17

  • Partnerships and policy engagement. PwC believes that working in partnership with other organizations to advance global public policy and dialogue is crucial to achieving the kinds of system change needed. The company has played an active role on a range of public policy issues including supporting several organizations as they develop non-financial reporting standards, working with UNICEF on the skills agenda, and coalition building in the US to support action that addresses issues raised by the Black Lives Matter movement.

Evaluation

PwC has made a small commitment towards sustainability as seen in their pledge to achieve net zero emissions by 2030. In addition, they have aligned some of their initiatives with the UN Sustainable Development Goals.

However, PwC has not reported having any certificates or listings, and has few awards unrelated to sustainability.

While they are devoted to being a transparent company, as seen via their 2020 Transparency report, they do not have a sustainability report and resort to addressing sustainability within their Global Annual Report.

This company has been rated a C for being a work in progress.

Analyst Outlook: Neutral

PwC has addressed incorporating renewable energy and reaching net zero, but has no other clear initiatives that address climate change and sustainability.

Key Points

  • PwC supports the International Business Council of the World Economic Forum (WEF) to agree a series of broad performance measures that all businesses can use consistently to demonstrate the impact they have, not just financially, but on broader society. While the measures were only published last month, PwC has decided to begin our three-year journey to be as open and transparent as we can against each of the core WEF metrics and disclosures in their FY20 Global Annual Review.
  • PwC’s reliance on natural capital is small compared to  many other industries, and therefore have not aligned their global reporting against the Task Force on Climate-related Financial Disclosures (TCFD) and do not report on our consumption of fresh water and land use.
Share this Post