Net Zero: The Integrity Pathway

The role of business in reaching net zero

Reaching net zero is one of the biggest challenges we collectively face.

Creating a world where we can live and work sustainably is an urgent imperative, and expectations are growing for business to be part of the solution. This is not just about compliance, it’s about driving change and creating competitive advantage. Demonstrating progress, with robust and reliable data, will not only create trust, but add value.

Three of our PwC experts spoke to ITN Business to focus on the role business must play in the transition to net zero.

Net Zero: The Integrity Pathway

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“Action on ESG is central to our global strategy and core to our purpose. We want to build trust in the climate transition, by identifying and implementing ways to create responsible change. There’s growing expectation too. It is critical that organisations deliver for the business, their employees, consumers and wider stakeholders. Sustainability, in my mind, is strategy.”

_{Carl Sizer, PwC UK Board member}

Reaching net zero is not without challenge

Organisations need to create pathways to zero emissions, but these pathways are often unclear and call for change at an unprecedented scale.

There’s a requirement to balance the demands from investors, regulators and consumers to reduce carbon emissions, all while supporting a fair transition.

In tandem, organisations face wider issues, such as energy security.

For many, it’s hard to know where to start. The challenges they face are underpinned by uncertainty, particularly when it comes to reporting tangible progress on the pledges they have made.

“Clients are responding to the regulatory agenda by firstly being compliant. But they are also exploiting the value that sustainability reporting brings. Whether that’s access to a lower cost of capital, new products and services, or attracting and retaining talent. Sustainability reporting is a prerequisite to growth.”

_{Lynne Baber, PwC Sustainability Leader}

Sustainability is strategy

We combine our deep sustainability expertise with transformation excellence to deliver net zero in a way that is responsible and achievable. The aim? To create value not only for today, but for the future.

We define the strategies that lead to success, making ESG fundamental to the core business and a source of value in every part of the organisation. From governance, to supply chains, to finance and innovation.

By developing robust data-gathering technology, processes and controls, and providing assurance over data with proven methodologies that hold organisations to account, we’re able to create lasting change and tangible value.

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Our net zero journey

Following our own journey to net zero means we have real-life experience and learnings.

We've been transforming how we operate and delivering a wide range of environmental improvements for over a decade, including:

Our carbon emissions are now 83% below 2007 levels, against a target of -40%. Over this same period, we’ve grown our revenue by 84%.
In 2020, we set a new global commitment to reach net zero by 2030. This commitment is validated by the Science Based Targets initiative (SBTi) to show that we will reduce our emissions in line with a 1.5 degree climate scenario.
We have already switched to 100% renewable electricity across our UK offices from solar and wind.