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In September 2020, PwC made a worldwide science-based commitment to achieve net zero greenhouse gas (GHG) emissions by 2030. To achieve the commitment all territories need to progress towards net zero. PwC Isle of Man has established a net zero team, with responsibility for the planning and execution of the net zero objective and local territory action plan.
In July 2021 PwC’s targets were independently validated by the Science Based Targets Initiative (SBTi). The validated science based targets are:
to reduce absolute scope 1 and 2 GHG emissions by 50% by FY 2030 from a FY 2019 base year
to reduce absolute scope 3 business travel GHG emissions by 50% within the same timeframe
that 50% of suppliers by emissions covering purchased goods and services will have science-based targets by FY 2025.
Across four work streams our net zero team will come together to solve, whilst communicating our net zero commitment to our people, clients and stakeholders and empowering our people to make informed decisions about sustainability.
Measurement and disclosure – A priority is enhancing our non-financial reporting across scope 1, 2 and 3, we will gather our data and quantify our emissions.
Emissions reduction – Reducing carbon emissions is critical to our net zero commitment. Continuous improvements to energy efficiencies, reducing air travel, adopting more sustainable forms of travel and delivering a more virtual client service model are key priorities.
Supply chain – We plan to engage with our suppliers to encourage them to decarbonise and set their own Science Based Targets.
Data excludes suppliers
We established a net zero team and developed a net zero Territory Action Plan across four work streams
We have identified the main sources of greenhouse emissions and quantified our baseline position for FY 2019
Committed to the global offset procurement process for FY 2023
Switched to a renewable electricity tariff in FY 2022
Ongoing communication on our net zero journey to our people.
In addition to setting formal science-based targets for our climate action goals, we will continue to work towards reducing our emissions and enhance our performance across broader environmental impacts beyond the scope of our global net zero commitment.