PwC carbon neutral – an open book - 25 June 2008

PricewaterhouseCoopers confirmed today the firm’s intention to operate as a carbon neutral business from July 1 2008.

PwC has implemented a three pronged approach to achieving carbon neutrality which has focused on reducing greenhouse gas emissions including setting specific targets, investing in renewable energy and offsetting the residual by purchasing accredited offsets.

Before the end of calendar year 2008, PwC will produce greenhouse gas accounts for the 2008 financial year which will be independently assured. At this time PwC will also publish its reduction targets for 2009.

Mark Johnson, PwC Australia’s incoming CEO, said “As responsible leaders it is our duty to understand our own impact on the environment.

“This is a serious business issue for PwC and we have taken big steps to ensure we foster a culture where the responsibility for of our environmental impact is incorporated into the actions of our people and the way we do business.”

“By becoming carbon neutral the firm is assigning a cost to the carbon consumed by our organisation, which is incorporated into our future investment decisions. We continue our focus on reduction initiatives around energy consumption and strive for continuous improvements in behaviour.”

In May 2008 PricewaterhouseCoopers introduced a customised personal carbon footprint calculator to enable staff to understand and improve their individual carbon footprint. The calculator known as “Measure Yours” encourages people to determine their personal carbon footprint, develop a carbon reduction program, and provides an option to purchase accredited offsets.

PwC Australia Partner, Rick Millen, says “As business advisers, it is imperative that we are leading by example. Our clients look to us for practical advice on managing the business risks and opportunities of climate change.

Notes for Editors:

Strategy & Implementation
PwC calculates its greenhouse gas emissions in line with the Greenhouse Gas protocol - ‘A Corporate Accounting and Reporting Standard’ (‘GHG Protocol’) and ISO 14064 – Greenhouse gases, Part 1: Specification with guidance at the organisation level for quantification and reporting of greenhouse gas emissions and removals (‘ISO 14064’). Our organisational boundaries have been determined on an equity share basis for PwC Australia which includes all offices located and operated in Australia. Our greenhouse gas footprint includes all material:

• direct (scope 1) greenhouse gas emissions;
• energy indirect (scope 2) greenhouse gas emissions; and
• selected relevant other indirect (scope 3) greenhouse gas emissions, such as land transport, air travel and base building energy.