Air, water and soil quality are at risk in many areas of the world. A key challenge for energy companies is how to develop business strategies and practical implementation plans to enhance economic performance, while demonstrating the highest standards of environmental stewardship and socially responsible performance. Sustainability, then, is performance measured in the triple bottom line dimensions of economic, environmental and social factors. Social license to operate and the purchasing decisions of customers are increasingly influenced by demonstrated environmental and social responsibility.
Effective focus on sustainable business solutions addresses and manages business risks and corporate citizenship challenges and strengthens trust and credibility in the marketplace. Many energy companies are successfully integrating sustainability into their overall strategies by engaging all stakeholders, developing robust performance indicators, voluntarily preparing sustainability, corporate social responsibility, and environmental reports, and, in some cases, providing independent verification of these reports to increase the transparency of their disclosures.
How PwC can help you
Sustainable Business Solutions
Our Sustainable Business Solutions team works with energy companies to align corporate governance and policies, operating systems and processes, performance reports and mechanisms to meet the needs and expectations of stakeholders. Solutions include:
- Development of sustainability performance indicators
- Preparation or review of sustainability reports
- Evaluation of environmental risks and liabilities
- Environmental audits and due diligence engagements
- Kyoto Protocol solutions, including climate change strategies and emission trading advice
- Independent verification of environmental, social or sustainability reports
- Code of Conduct or Code of Ethics development and implementation programs
- Verification of supplier adherence with code of conduct and legal requirements
Reporting and Compliance consulting
PwC helps clients identify governance, risk management and compliance information needs for both stakeholder reporting and operational monitoring in every area of the company.
We evaluate the source and quality of the data to support the information needs and, after considering cost and other factors, recommend processes, organisation and use of technology for obtaining and preparing data and delivering timely information.
Tax and sustainable business solutions – Our tax and sustainable business specialists play a significant role in advising companies about structuring transactions from a tax perspective, building a cohesive global tax structure for a transformed enterprise, and understanding the environmental and reputation risks inherent in a strategic acquisition or merger before a decision is taken.
