Jeddah Hajj Terminal prepares to receive foreign Umrah pilgrims    Saudi Arabia, UN agency sign MoU to boost global cooperation on IA    Netherlands' Daily Caseload Surpasses 9,000 for First Time    Saudi Arabia hosts key meeting to discuss establishment of UN advisory body on AI    Plan to make vaccinations compulsory for birth certificate    Japan's Premier to Reiterate Pledge to Hold Tokyo Olympics in Policy Speech    GCC finance ministries secretaries hold 59th meeting    Civil Defense teams battling fire in Asir's Jabal Ghulamah    5 Saudis arrested for illegally transferring SR11mn abroad    Ministry of Health: 401 New Confirmed Cases of COVID-19 Reported in Saudi Arabia    Saudi Arabia and Hungary sign deals on air transport services and water management    LCGPA sets the path for effective Local Content Agenda    Global AI Summit 2nd Day Witnesses Establishment of 3 Strategic Partnerships    Jordanian Stocks Fall    Healthcare Leadership Academy Recognized by ACHE as 1st Accredited Training Center in Saudi Arabia    Environmental factors behind 15% of deaths in Mediterranean: UN report    Guterres underscores value of UN partnerships in Southeast Asia    Worldwide Coronavirus Cases Cross 41.04 Million, Death Toll at 1,127,177    Saudi Press: Saudi Arabia Hosts Global AI Summit    King Salman highlights role of women in national development ‘Saudi Arabia has embarked on unprecedented reform journey to empower women'    COVID-19 and travel outside Saudi Arabia    Sharjah Film Platform to feature over 60 films    Combining the love of football with humor on Twitter    Dubai Sports Council, UEFA discuss mutual cooperation    Arab world's modern-day cultural pioneers, intellectuals to convene at SIBF 2020    Saudi Arabia Partners with World Bank to Ensure No Nation Is Left Behind on AI    Saudi Arabia Sets Out Strategy to Become A World Leader in Artificial Intelligence by 2030    Saudi Arabia to make golf free for women in world-first initiative    MoH Marks World Osteoporosis Day 2020    KFSH&RC is Recognized by the College of Healthcare Information Management Executives (CHIME) as ‘Healthcare's Most Wired'    Saudi Cabinet condemns terror attack in France, calls for confronting hate speech    Saudi man accused of harassing foreign wife asked to be produced before court Court allows divorce, custody of children by mother    Saudi Arabia leading GCC entries in 10th annual ‘Moments' competition    Man United, Liverpool in talks to join new European super league    KSrelief, IMC, sign cooperation deal    KSrelief, IMC, Sign Memorandum of Cooperation    Napoli blast four goals as they thumped Atlanta 4-1    VAR foils Liverpool in derby draw with Everton    Ithra to Launch 3rd Creativity Season (Tanween)    MoH Calls on Groups of Patients to Postpone Umrah Performance    Red Sea International Film Festival Announces a New Short Film Competition    S. P. Bala, legendary Indian singer, dead at 74    Happy National Day 90    Every work has its fruits, so choose wisely    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





PwC commits to net zero by 2030, globally
Published in The Saudi Gazette on 26 - 09 - 2020

PwC commits to decarbonize its operations and supply chain, which includes reshaping how it serves clients, sustained reductions in travel and the increased use of zero carbon energy.
PwC will embed the implications of climate change and other Environmental, Social and Governance (ESG) related factors across the work it does with clients, from strategy to implementation.
PwC will continue to advance corporate reporting standards that champion comprehensive non-financial reporting practices.
PwC is continuing its commitment to our long-standing program of research and collaboration with businesses, policy makers and non-governmental organizations to accelerate the transition to a net zero economy.
Today, PwC is making a worldwide science-based commitment to achieve net zero greenhouse gas (GHG) emissions by 2030. The commitment includes supporting our clients to reduce their emissions as well as reducing those from the PwC network's operations and suppliers.
PwC commits to decarbonize its operations, including its travel footprint, and neutralize its remaining climate impact by investing in carbon removal projects. It will also engage its suppliers to tackle their climate impact.
The PwC network will work with its clients to support their efforts to make a net zero future a reality for all. In FY20 (July 2019-June 2020), PwC firms provided services to 84% of the Global Fortune 500 companies and more than 100,000 entrepreneurial and private businesses. It is this position that will allow PwC to play an integral role in driving the transition to a low-carbon economy worldwide.
To support these efforts, the network will continue to contribute to public policy developments in support of net zero at national, regional and global levels.
Bob Moritz, Global Chairman of the PwC network, said: "Businesses and economies must evolve quickly to address the significant challenges facing our societies and our planet.
"Whether you look at this through the lens of human need or from a capital allocation perspective, it is in the interests of everyone that we see systemic change that averts climate catastrophe and unlocks the potential of green growth."
"A net zero world is within reach. Getting there will take innovation, hard work, collaboration and bold thinking but the benefits will be immense. The business community has a responsibility to act and we are determined to play our part, not just in our own operations and supply chain, but also in the way we advise and support our clients to create a sustainable world for future generations."
The network's net zero goal includes a science based target aligned with a 1.5°C trajectory. PwC commits to reducing its total greenhouse gas emissions by 50% in absolute terms by 2030. This includes a switch to 100% renewable electricity in all territories, as well as energy efficiency improvements in our offices and halving the emissions associated with business travel and accommodation within a decade.
Emissions associated with flights alone currently represent around 85% of the network's total carbon footprint. The COVID-19 pandemic has accelerated the shift to remote working and demonstrated the feasibility of new client service models, as part of a longer-term transformation of PwC's services.
PwC will also invest in carbon removal projects, including natural climate solutions. For every remaining ton (CO2 equivalent) that it emits, PwC will remove a ton of carbon dioxide from the atmosphere to achieve net zero climate impact by 2030. Our projects will be selected on the basis of quality criteria and verification of carbon reduction impact, and will also support broader local economic and social development co-benefits.
To address the climate challenge, a radical transformation is needed in every sector of the global economy and all parts of the world.
With global reach across 157 countries, industry coverage, and its 284,000 people that support clients at every stage — from reshaping strategy and transformation, to deals, reporting, audit, and tax — the PwC network has a huge opportunity to accelerate the transition to a net zero future in collaboration with its clients.
The network supports organizations as they develop and implement concrete plans for how to get to net zero. This includes re-alignment of corporate strategy, people and talent, governance and accountability, operating model, innovation and research and development (R&D), tax strategy and reporting, and enterprise and supply chain transformation. Other areas include partnerships and alliances, and corporate affairs and regulatory engagement.
Building on existing client work in sustainability and net zero transformation, PwC will infuse science-led climate analysis into its areas of service. For example, its Advisory practice is integrating climate risks into relevant engagements, providing clients with insights about climate risks and opportunities as well as helping them to transform their business processes.
Another major focus area will be integrating climate-related and other ESG-related factors into mainstream corporate disclosures and governance, where PwC's Assurance practice will support the development of high-quality, aligned disclosure and measurement standards and help clients embed these into their reporting and governance.
Across its Tax practice, PwC will be helping clients understand how net zero transformation will impact tax strategy, transparency and compliance obligations, subsidy and incentive opportunities, and revenue impacts for both public and private sector organizations.
To further scale its capabilities to support clients in these areas, PwC has appointed Peter Gassmann to lead its new global Environmental, Social and Governance practice. In addition, Nadja Picard has been appointed as PwC's new Global Reporting Leader to drive the network's support for clients to incorporate non-financial disclosures in their corporate reporting.
PwC supports reform that puts the needs of stakeholders at the heart of the market economy and connects goals, actions and outcomes into desired social and economic results that fuel long-term sustainability. Supporting the net zero transition is a key part of this process.
As stakeholder expectations rise, organizations increasingly need to report on their environmental and social impacts and demonstrate progress. As a result, there is a greater need for consistent, comparable ESG standards so investors and other stakeholders can clearly see how businesses are creating long-term value for the organization and society.
PwC is supportive of global efforts to develop transparent and robust ESG reporting frameworks and standards, including through work with the World Economic Forum International Business Council, the Financial Stability Board's Task Force on Climate-related Financial Disclosures (TCFD), the International Integrated Reporting Council (IIRC), the Global Reporting Initiative (GRI), and the Sustainability Accounting Standards Board (SASB), amongst others.
PwC will also contribute to broader understanding of how to achieve net zero. PwC will shortly be launching a practical guide, "Building Blocks for Net Zero Business Transformation" aimed at business executives to help companies of all sectors and sizes move from net zero pledges to wholescale business transformation.
The research has been produced in association with Microsoft, who PwC advises on net zero transformation, as a contribution to the recently launched CEO-led Transform to Zero initiative. Further details of the network's plans to achieve the 2030 net zero ambition, support clients and suppliers and advance the global climate debate will be shared over the coming months.
Bob Moritz added: "An important lesson of COVID-19 is that people can find ways to do the impossible when they have to, and we are taking some of that spirit into our efforts to tackle the global climate crisis. The changes we need to make will not be easy, but are nothing compared to the harm that runaway climate change would inflict on society.
"We are excited about working together, with clients, with partners and all of our stakeholders, to achieve our goals and play our part to support global efforts to help address the impacts of climate change for a more sustainable and fairer world." — PRNewswire


Clic here to read the story from its source.