Chairman’s message

Delivering value for our clients...taking care of our people...strengthening our communities...managing our environmental footprint. These commitments help us to create value, serving as a catalyst for growth and enabling our people to do great things, both within the firm and within society as a whole. In this way, Corporate Responsibility (CR) is critical to achieving our vision: being the leading professional services firm at all levels.

Engaging and encouraging our people is at the heart of our CR strategy. The value we create as a firm is derived entirely from their knowledge, skills, insights, and dedication – from the quality of their work. By inspiring our people and leveraging these talents, we can make a difference and drive positive impacts all along our value chain. And by participating in our CR work, employees grow, both professionally and personally. We have recently announced a goal of involving 100 percent of our people in community efforts, either through financial donations, or by volunteering their time and skills. At 35,000 strong, the efforts of our people can make a powerful impact.

We have a long history of doing business responsibly and building trust in financial markets. To continue to maximize our impact going forward, we are focusing on three strategic societal issues that directly impact our business, and where we feel we can make a difference: youth education, climate change, and social inclusion. We want to play a big role in developing the next generation of leaders, help our clients and the firm reduce our impact on climate change, and do our best to contribute to addressing social imbalance in our communities.

As you will read in this report, we’re making good progress in all of these areas. We’ve been working to close the educational gap by donating time and money, partnering with non-profits focused on educating young people, inside and outside school. We achieved our initial 20% reduction goal a year ahead of schedule and recently set a new goal to further reduce our greenhouse gas emissions by another 10% by 2016. And, for our people, we continue to focus on making PwC a place where individuals of all backgrounds can thrive and build fulfilling careers. In fact, DiversityInc magazine recently recognized PwC as the #1 company for diversity.

We see terrific opportunities to build on these successes. But there is always room for improvement. We need to look at what our stakeholders want and how that's changed over time (learn more – a conversation on engaging stakeholders). We’re working on a number of fronts to shrink our environmental footprint further, make PwC an even better place to work, and help empower the people most in need within our communities.

The broad topic of sustainability continues to develop momentum in the marketplace. Indeed, our clients are keenly aware of the value responsible leadership brings to their brands, as well as the value it brings to product innovation and to an engaged workforce.

Ultimately, the key to making CR more than just talk is determining the shared value of our efforts – the win for the business, the win for our people, and the win for society more broadly. For PwC, that shared value lies in how we leverage our skills to elevate the sustainability of our clients and society as a whole.

We hope you’ll explore the pages of this, our second CR report, to learn more about our achievements, our challenges, and how we’re seeking to create shared value. We welcome your feedback and thoughts.

Sincerely,

Bob Moritz

Bob Moritz, US Chairman and Senior Partner, June 2012