The science is clear: to avoid the worst impacts of climate change, businesses, governments and society need to work together to transition to a net zero economy by 2050.
Malta’s natural environment has long faced various challenges, from widespread construction and natural resource exploitation to littering, environmental degradation and unsustainable waste management. In the face of these challenges, it is our view that businesses need to not just evolve but take up their responsibility and act to create a sustainable world fit for future generations.
“Businesses have the responsibility of being a force for good. This is not just important for companies to maintain a social licence to operate, but also crucial for the upkeep of the healthy societies we live in.”
At PwC, we are working to decarbonise our business and adapt to the impacts of climate change. This means setting clear targets, creating practical plans that achieve real results, and collaborating with other organisations in the broader ecosystem to support the net zero transition.
In line with our purpose, we have made a worldwide science-based commitment to reach net zero greenhouse gas emissions by 2030.
During the past year, we’ve brought our global strategy The New Equation to life and delivered on our purpose using the skills and energy of our community of solvers to tackle arguably the most important challenge of our time - climate change.
We’ve been working across three main pillars:
Transitioning our own business, sharing our own experience with other businesses and organisations;
Supporting our clients in their transition to a low-carbon world; and
Engaging in the global climate policy debate and advocating for change – including our focus on reporting and transparency frameworks.
Over the past year, we’ve drawn up a local net zero action plan detailing key actions taken, progress to date, challenges which remain and our emissions projection to 2030. We’ve already reduced our Scope 2 emissions by 29% and our total emissions by 17% compared to our FY19 baseline.
Given the nature of our business, while we don’t have any Scope 1 emissions, our Scope 2 emissions from electricity and heating make up a big portion of our carbon footprint, accounting for 53% in 2019.
Since then, we’ve managed to reduce our energy use through various initiatives including the instalment of energy-efficient air conditioning and lighting, a new building management system and infrared films on all windows to reduce heat loss. We have also managed to generate our own renewable energy from a PV system installed on the roof of PwC’s carpark.
