Increasing transparency

Global Annual Review 2020

We understand the impact that our work can have on our stakeholders, the capital markets, and the communities in which we live and work. We support the growing calls for organisations to be more transparent about their impact on society, and have been working alongside standards setters and regulators to seek greater consistency and alignment.

Over the course of the past 12 months, we have been supporting 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, we have decided in our FY20 Global Annual Review to begin our three-year journey to be as open and transparent as we can against each of the core WEF metrics and disclosures. We have provided comparatives where these are available.

 

    • Our purpose is to build trust in society and solve important problems. Read examples of how we’re doing that
    • Board of PwCIL is responsible for the governance of PwCIL, oversight of the Network Leadership Team, and approval of network standards. It consists of 18 elected members, six of whom are female.
    • Speaking up when something doesn’t seem right is crucial to our culture at PwC.
      Each member firm provides a mechanism to report issues. There is also a confidential global ‘Contact Us’ email option available to anyone who may have concerns to report at both PwC and beyond.
    • Risks with the highest potential impact for the PwC network are identified annually.
      These key network risks cover five areas: quality and compliance; network resilience; market risks; societal and trust; and network mutuality and speed of response.
  • 100%

    Percentage of PwC professionals trained in anti-corruption in FY20

    100% in FY19

    Learn more

  • 432,372

    total tonnes of carbon emissions in FY20

    599,258 in FY19

    Learn more

  • 357,998

    tonnes of carbon emissions in FY20 from air travel

    504,962 in FY19

    Learn more

  • Net zero

    our commitment to eliminate our carbon impact by 2030

    Learn more

    • Mental health and wellbeing benefits available in member firms include: PwC’s Habit Bank, webinars with experts and psychologists, Mental Health First Aid training, a mental health app and more.
  • 22%

    Share of female partners at PwC firms in FY20

    21% in FY19

    Learn more

  • 58

    The average hours of training provided to PwC partners and staff using Vantage, our online learning platform

    52 in FY19

    Learn more

  • 63,053

    people joined PwC firms in FY20

    69,734 in FY19

    Learn more

  • US$187.6m

    total community investment in FY20

    US$187.5m in FY19

    Learn more

  • 47,864

    PwC professionals supported their communities in FY20 by volunteering

    61,284 in FY19

    Learn more

  • US$3bn

    invested in people, technology, new products and services, and quality in FY20

    US$3bn in FY19

We’ve also provided much more information on the Principles of Governance applied by the PwC network, including:

The WEF metrics allow for organisations not to publish data where there is a good reason not to do so.  For PwC, this applies in areas that include:

  • Our land and water use. As we are a service-orientated organisation, our consumption of these two resources is limited and exists only in the offices that we operate from.

  • Financial capital metrics, such as share buybacks, dividends and capital expenditure. We are a network of member firms that are predominantly separate partnerships in legal structure. Accordingly, metrics that are applicable to corporations are not applicable across our network.

  • Child, forced or compulsory labour. We do not use these forms of labour in any of our own operations. Our suppliers have to abide by our Global Third Party Code of Conduct, or its equivalent, which is explicit in our opposition to and intolerance of any form of child labour, human trafficking and modern slavery.

We believe we have made a good start in addressing some of these additional disclosures. But watch out for more to come in future Global Annual Reviews.

 

Rocket taking off
Mike Davies

Mike Davies

Director, Global Corporate Affairs and Communications, PwC UK

Tel: +44 7803 974136

Email

Andrea Plasschaert

Andrea Plasschaert

Senior manager, Global Corporate Affairs and Communications, PwC Switzerland

Tel: +41 58 79 29 123

Email

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Mike Davies

Director, Global Corporate Affairs and Communications, PwC United Kingdom

Tel: +44 7803 974136

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