PwC Luxembourg has already taken a number of first steps to reduce our carbon footprint:
We have begun reviewing our Travel Policy to cut air travel emissions (a significant component of our total emissions given the nature of our business). Notably, we:
- have implemented stricter cabin class criteria;
- have implemented a new requirement for partner approval for all air travel; and
- now ask our staff to use alternative, lower carbon modes of transport for journeys of 400km or less, such as by train, car or shuttle.
We have also invested into virtual collaboration tools (i.e Wooclap, Vantage…) and have adopted new technologies (i.e audio/video conferencing) in order to continue collaborating with all our stakeholders while reducing our travel requirements.
Our main office building since 2014, Crystal Park, has an excellent environmental, including energy efficiency, rating from BREEAM (Building Research Establishment Environmental Assessment Method).
Our electricity purchases are 100% sourced from renewables generated from wind and hydroelectricity obtained from the Luxembourg Energy Office.
In addition, we are also pleased to announce that we have recently committed to the LEAF (Lowering Emissions by Accelerating Forest Finance) Coalition, to support what is expected to become one of the largest ever public-private efforts to protect our tropical forests. Between the years 2023 and 2027, we will offset 100% of the emissions in the scope defined in this report through this initiative.
These are just the first steps on what will be a challenging journey. We recognise that the achievement of our Net Zero 2030 commitment will require much more fundamental changes in our business model and our relationships with our staff, our customers and our suppliers.
To generate consensus around these changes, we will develop and publish our Net Zero Action Plan over the coming months, following consultation with all parts of the firm.
To oversee the consultation, the formulation and implementation of the Action Plan, we have appointed from within our Sustainability Board (see Principles of Governance chapter) a dedicated Planet leader who is also PwC Luxembourg’s Net Zero Leader. The role of the Net Zero Leader is to ensure that the firm is united in its commitment to deliver on PwC’s Net Zero ambition and to fulfil our reporting obligations under the WEF-IBC Planet metrics as well as other relevant reporting frameworks.
The Net Zero leader has a specific Net Zero team, composed of individuals from the Corporate Responsibility team and advisory teams, that drives the implementation of our strategy. In driving the Net Zero Action Plan, the Net Zero team, alongside the Corporate Responsibility team, will work with other departments within the firm. Procurement teams, Human Capital teams (including our Learning and Development group), Communication teams and sustainability-related advisory teams.
As our net zero strategy and climate agenda keeps evolving, we also plan, as of 2023, to develop and implement a TCFD action plan. This will enable us to align with the WEF-IBC metric "TCFD implementation".
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