Corporate Sustainability Lessons Learnt
Introduction
Climate change is having severe impacts globally, affecting natural environments and human societies. Despite a relatively small carbon footprint compared to many industries, PwC recognizes its responsibility to minimize its environmental impact. Since 2007, PwC has been committed to reducing its carbon emissions, aiming to become a responsible business and contribute to solving important societal problems.
Key Achievements
From 2007 to 2022, PwC significantly reduced its greenhouse gas emissions:
- Scope 1 and 2 Emissions: Reduced by 98% in absolute terms.
- Overall Carbon Footprint: Decreased by 83% while growing the business by the same amount, demonstrating decoupling between business growth and environmental impact.
Strategic Approaches
PwC's journey to achieving these reductions involved several key strategies:
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Leadership and Reporting:
- Engaged leaders early to understand and support the carbon reduction goals.
- Prioritized robust reporting to facilitate decision-making and track progress.
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Targets and Mobilization:
- Used interim targets to build confidence in feasibility.
- Set ambitious Net Zero goals based on carbon science.
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Data Management:
- Started with basic data collection and gradually increased the breadth and sophistication.
- Utilized open-source tools and software to automate emissions calculations.
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Technology and Evaluation:
- Adopted a "do-learn-do" approach to trial and evaluate new technologies.
- Regularly re-evaluated technology options to stay current with advancements.
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Collaboration and Partnerships:
- Collaborated with suppliers and landlords to set common goals.
- Shared financial benefits to incentivize partners.
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Behavioral Change:
- Recognized the importance of gradual behavior change and internal communication.
Detailed Initiatives
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Building Energy Efficiency:
- Reduced carbon footprint associated with office buildings by 81%.
- Saved over £40 million in cumulative energy costs.
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Business Travel Reduction:
- Addressed significant emissions from business travel.
- Developed engagement initiatives for employees to minimize their impact.
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Supply Chain Sustainability:
- Implemented a comprehensive supply chain sustainability program.
- Focused on reducing emissions associated with procurement.
Future Outlook
PwC remains committed to achieving its Net Zero goals, with a global commitment to Net Zero made in 2020. The company continues to monitor its progress and adapt its sustainability strategy as needed.
Practical Tips
- Leadership Engagement: Involve leaders early to gain support and funding.
- Robust Reporting: Invest in accurate and reliable data collection.
- Interim Targets: Use interim targets to build confidence.
- Basic Data Collection: Start with simple data and gradually improve.
- Technology Evaluation: Regularly assess new technologies.
- Collaboration: Partner with suppliers and landlords.
- Internal Communication: Ensure consistent communication across teams.
- Behavior Change: Anticipate and plan for gradual behavioral shifts.
By following these strategies and lessons, organizations can effectively reduce their carbon footprint and contribute to a sustainable future.