Climate change has emerged as one of the most important political and business issues of our time. Transportation accounts for 22 % of greenhouse gas emissions caused by energy consumption. Governments increasingly take measures in order to promote emission reduction initiatives, such as environmental taxes, subsidies and incentives, negotiated agreements with industry or emission trading schemes.
Carbon dioxide emissions from shipping have been reported to be double those of aviation and could rise by as much as 75% in the next 15 to 20 years if world trade continues to grow and no action is taken. Shipping has thus far been spared any significant cuts as CO2 emissions from ships do not come under the Kyoto Agreement or any proposed European legislation. But pressure is mounting on all sides for the situation to change.
The European Commission has announced that it will draft legislation aimed at tackling the shipping industry's rapidly growing contribution to climate change, by including the sector in Europe's carbon dioxide cap-and-trade system.
Shareholders expect your company to generate profits. But, along with your other stakeholders (including your customers and suppliers) they also want your company to make a positive contribution to society while minimising any negative effect it might have on the environment. This approach to business – balancing economic interests against social and environmental concerns – is commonly referred to as sustainability.
PricewaterhouseCoopers has been working with policy makers and companies since 1997, helping to analyse issues and develop practical solutions for our clients. With a network of more than 150 professionals across Europe, the Americas and Asia Pacific, PwC offers a broad range of advisory, assurance and professional services that collectively guide clients through the complexities of climate change and emissions trading.
PwC’s Sustainable Business Solutions practice offers a range of solutions that are clustered around five major service areas: