Latvia still shows a negative population growth, as many economically active citizens and young people have left the country and the demographic burden is on the increase. There is a need to engage the remaining people and to provide special support for socially vulnerable groups such as children, young people, and the elderly.
Changes in the distribution of economic forces
Recent studies suggest that the developed economies are slowing down their growth unlike the developing countries. This is something that our national businesses and investors should be aware of when planning their long-term business development and partnership projects as well as entering new markets and driving growth outside Latvia. PwC is proud that our expertise and services enhance the trust of investors and other stakeholders relying on the financial information made available to them, and make crucial decisions easier to take. We will be continuing a number of measures that encourage the development of the industry and responsible business in Latvia.
We are aware that we live in one of the greenest countries in the world, and we understand that we should handle it with care to minimise any adverse effect. Urban populations are growing globally, with local farmers and suburban nature reserves in need of increasingly more support to keep the natural balance. We have identified and measured our impact on the environment, and our global network of firms has devised a procurement and vendor evaluation policy that lays down vendor selection principles. We choose local farms to supply us with fruits and vegetables.
Climate change and resource depletion
By 2050 the demand for energy and water is expected to have grown by 50% and 40% respectively. These figures are not encouraging, and so we will be increasingly focusing on saving resources in our day-to-day business. In 2013, with our CEE colleagues we measured our carbon footprint for the first time in Latvia. This urged us to cut down our emissions, and so we have set a target to achieve a 5% reduction by 2016 compared to 2013. Our resources are also saved by our efficient system of room occupation and reservation that automatically offers a conference room according to the expected number of participants.
Technological innovation opens up new opportunities in communicating with people and solving everyday problems. Innovation also boosts our efficiency because we envisage a number of potential applications. The use of technology in saving environmental resources is a common approach across our network of firms. To provide an international perspective and share knowledge, we need to communicate with our colleagues around the world on a daily basis. We frequently use state-of-the-art IT solutions for secure and effective communication with our colleagues and clients. There is no doubt that technological advance brings with it new risks, which we identify and help our clients do the same.