PwC Luxembourg Annual Review 2025

Strategy

Our People are the cornerstone of our strategy. Our vision, to be the most impactful, dynamic and trusted partnership for our clients and all our stakeholders, in Luxembourg and beyond its borders, could not be possible without our People.

We believe a diverse and inclusive workplace helps unlock the full potential of our People, fosters innovation, and enables us to deliver better value to our clients and society.

We fully own the responsibility that comes with being the 7th-largest employer in Luxembourg, knowing that our decisions shape the careers of current and future generations of employees. 

Grow here. Go further.​

"Are you ready to make a difference? Want to unlock new value by applying your unique perspective and talents? Here, you can grow—exponentially."

• We focused on reaching a balanced gender split in promotions: 50% women among new partners (vs 25% women from total partner population) and 39% among new directors (versus 34% women from total director population). We developed growth and networking opportunities for our people such as Women in Tech, Women in Finance (and leadership) and our Women mentoring programme.
• We introduced the concept of Bias Buster, a person who keeps a group honest and interrupts biases observed in talent/ performance/ promotion discussions, and other meetings.
• To strengthen our commitment to fair pay, we extended the gender pay-gap analysis to include partners for the first time this year. Both assessments are grounded in the same core principles to ensure consistency and fairness.
• We continued fostering an inclusive environment, with employees representing nearly 100 nationalities and 45% of whom live in the Greater Region (France, Germany and Belgium).

Strategy

At PwC Luxembourg, our ability to deliver sustained outcomes for our clients and society depends on how well we attract, develop, support and empower our talent. This includes strengthening a culture grounded in continuous feedback, investing in soft and technical skills development, leveraging on AI while enabling our team leaders to lead with confidence and autonomy.

Team Leaders play an increasingly strategic role as people managers, relationship builders and change ambassadors, fostering closer connections within their teams, and driving consistent talent development.

Some of our activities can involve periods of increased workload, and this reinforces how important the wellbeing of our People is to us. We are committed to providing flexibility and supporting the mental, physical, and emotional wellbeing of all our employees.

• Deployed the Empowered Team Leader Programme to help develop confident, collaborative and people-focused leaders.
• Introduced a new performance assessment and feedback platform that supports continuous dialogue and career development, nurtures closer interactions between team leaders and their teams and focuses on building a feedback culture.
• Invested €4.3m in Learning and Development, delivering over 200,000 training hours.
• Co-developed AI capability programmes with business lines to support innovation and to equip our People to facilitate their day-to-day tasks.
• Ensured all eligible employees went through a performance assessment to support their career growth.
• Continued and enhanced our Be Well, Work Well (focused on overall wellbeing with activities such as on-site sports sessions, nap and relaxation room etc) and Back and Happy "Parents" (provides support to parents returning from maternity/parental leave) programmes.

Strategy

The wide range of flexibility options we offer boosts motivation, reduces stress and allows our People to be more in control of their time.

We offer time flexibility options (daily flexibility, purchase extra holidays) as well as location flexibility options (work from home, satellite offices, work from abroad), adapted to the needs of our People.

Approximately 45% of our People live outside Luxembourg, in the neighbouring countries, Belgium, Germany and France, crossing the border almost every day to come to the office. To address this specific situation, we opened eight satellite offices close to the three borders. We were the first company in Luxembourg to develop such infrastructure. ​

^{* During FY25, we had 8 satellite offices. However, in FY26, prior to publishing the current Annual Review, we closed the one in Esch-Belval due to low utilisation rate.}  

Time flexibility:

• Daily flexibility: Employees can adapt their working hours to accommodate personal obligations.
• Bi-monthly flexibility: Partners, directors, and managers can adjust their working time over two-week periods.
• Extra holidays: Employees can purchase additional leave using bonuses or gross salary.

Location flexibility:

• Work from home: Employees residing in Luxembourg are entitled to work from home, with a mandatory presence in one of PwC Luxembourg’s offices at least twice per week. Non-resident employees may also benefit from home-based working, in line with the fiscal regulations of their country of residence.
• Satellite offices: We offer almost 450 seats across eight satellite offices*, where our employees can choose to go up to two days per week.
• Working from abroad: Employees can work outside Luxembourg during limited periods each year (under certain conditions). 

Strategy

We are a values and purpose-driven firm that fosters a strong corporate culture and sound governance, grounded in ethical behaviour and impeccable business conduct. These principles are essential to operating with integrity and driving sustainable growth.

The following framework sets out the guiding principles that underpin our approach:

• Code of conduct - sets out a common framework around how we are expected to behave, do business and do the right thing.
• Speak up policy - outlines the process for reporting and processing any complaints related to unethical misconduct, with strong protection for whistleblowers and safeguards against retaliation.
• Human rights policy – Highlights expectations and requirements serving as a guiding principle for our actions, fostering trust across various domains.
• PwC Network standards on independence, anti-corruption and anti-bribery – embed ethics and business conduct into all of PwC's operations, culture and relationships. This serves to: build our People, strengthen our culture, serve our clients, enhance our brand, and manage our risk.
• Third party code of conduct – we expect the same level of ethical behaviour and business conduct from our suppliers as we do from our own workforce.
• Gift and entertainment policy – meant to prevent inappropriate behaviour about gifts, entertainments or non-fee generating participation in business activities, both within and outside of the Firm that may present an actual, potential or perceived conflict of interest.

• Reinforce our speak up practices across the firm by increasing awareness of the speak-up channels and support in removing speak-up barriers.
• Adopt locally the Global Human Rights Policy, further to assessing possible gap with any existing local policies and regulations. The second main action is to conduct a risk assessment for human rights, including a sustainable plan for identifying and managing potential, significant and high risks.
• Maintain our strong anti-corruption standards as set out by out PwC Network. We introduced a mandatory e-learning programme aligned with PwC Network principles to ensure consistency, quality, and ethical conduct across all member firms and launched an integrity awareness campaign and reinforced our anti-corruption policy for colleagues in public services.

Strategy

We define quality of services as consistently meeting and exceeding expectations of our stakeholders, exposing excellence and complying with all applicable standards, policies or regulations.

Continuing to enhance this culture of excellence is a significant area of focus for our global and local leadership teams and one which plays a key part in the measurement of their performance.

We bring a culture of quality through three dimensions:

• Governance and compliance - Integrating quality in our operating model and governance. Complying with all standards, policies and regulation applicable to our business.
• Client services - Every client interaction reflects our commitment to integrity, consistency, distinctiveness, technical excellence, innovation and trust.
• People - Spreading a culture of quality in our workforce and cascade it in everything we do in the day-to-day operations of the Firm.

^{*NPS assesses clients’ likelihood to recommend our services to others. It is a strong predictor of trust and loyalty. The standard scale ranges from -100 to +100.}

^{** CSAT measures clients’ satisfaction with specific interactions or deliverables, offering a direct indication of how well we meet their expectations in the moment. We use a scale from 1 to 5.}

• Our Client Listening Programme is now focusing on active listening practices to get better perspectives and knowledge on clients. In FY25, our results show robust performance with a CSAT of 4.5/5 and an NPS of 60 (on the standard scale from -100 to +100), based on feedback from more than 550 respondents. These outcomes confirm that clients are not only satisfied with the quality of our work but also inclined to recommend us.
• We developed a portfolio of ideas in line with the innovation focus areas and market demand. Our strategic investments are in sustainability services, managed services and on Artificial Intelligence (AI), including the launch of the GenAI Business Center in 2024.
• With the advent of AI, several levels of control have been implemented to comply with recognised governance standards and best practices. These measures include a centralised AI Design Board, dedicated product and service managers and  comprehensive awareness  training courses for our employees as well as business rules governing the authorised use of various AI applications in production.
• Completion of the OEC and IRE certificates is now mandatorily required for career progression in our Assurance line of services, as mandated by our professional qualification policy.
• The PwC Network launched the "Value in Motion" strategy in FY25, a forward-looking framework designed to help businesses navigate and thrive amid transformative global shifts such as AI adoption, climate change, and geopolitical tensions. It emphasises the reconfiguration of industries into new domains of growth—cross-sector ecosystems that meet fundamental human needs like mobility, health, and connectivity. 

Strategy

We are committed to create positive social and economic impact, while offering our People meaningful ways to contribute to society beyond their professional roles. This pillar ensures that our engagement with the community is structured, impactful, and aligned with our broader values.

Our Contribution to Society strategy is structured around three main areas:

• PwC Foundation Luxembourg – Our philanthropic efforts are primarily channelled through our Foundation under the aegis of Fondation de Luxembourg.
• Corporate Volunteering Programme and other donations – We empower our People to contribute through volunteering and skills-based sponsorships. PwC also supports local associations through in-kind or financial donations, complementing the Foundation's efforts.
• Professional and industry associations – We actively support and participate in industry and professional bodies to help address key topics and challenges collaboratively.

Our key actions this year focused on strengthening the governance across our initiatives and fostering greater employee engagement:

• We established PwC Foundation Luxembourg under the aegis of Fondation de Luxembourg to channel our philanthropic efforts. It operates with a clear governance structure and a significant annual budget.
• We launched Time to Engage, our corporate volunteering programme, designed with robust governance to encourage our People to support the local social sector. 
• We informed our People through multiple channels that they are entitled to take up to five days per year for volunteering activities, subject to certain conditions.
• We actively contributed to numerous joint projects and working groups with local professional and industry associations to advance the broader business community.

Strategy

Climate change is a global challenge, addressed through a coordinated network-wide response that adapts to local contexts. It is not just a strategic priority; it is integrated in our day-to-day operations.

This ambition is part of our strategy, business model, and daily operation, and our targets are validated by the Science Based Targets initiative.

We have set greenhouse gas (GHG) reduction targets across all scopes, aligned with the 1.5°C Paris Agreement objective.

We have seven decarbonisation levers driving our transition plan and impactful actions:

• Low-carbon mobility
• Low-emissions business travel
• Low carbon headquarters
• Renewable energy
• IT-related emissions reduction
• Responsible supply chain
• ESG-driven client services

Our ultimate target is to reach Net Zero GHG emissions across the value chain by FY50, by reducing our absolute Scope 1, 2, and 3 Emissions by 90% and offsetting 100% of our residual emissions. 

• Scope 1 emissions dropped by 51% since FY19, mainly thanks to electrifying our fleet and improving building energy efficiency.
• Market-based Scope 2 emissions decreased by 59%, surpassing the reduction needed for our 2030 goals. These cuts come from targeted actions in our operations.
• Scope 3 emissions increased by +7% despite our efforts in mobility solutions described in the following page. This is due to the purchased goods and services which increased by +53% mainly driven by sales growth and headcount increase.
• We are preparing new carbon-neutral headquarters that meets taxonomy standards. It will produce renewable energy through solar panels and earn WELL Platinum and BREEAM Outstanding Certifications. We expect to reduce electricity use by 30% and heating energy by 70%.
• We source 99% of our electricity from renewables, and power our headquarters entirely with renewable energy. This keeps our Scope 2 emissions very low.
• We support global carbon reduction through nature-based solutions like forest conservation and reforestation credits with the LEAF Coalition to boost carbon removal over time.
• We keep leveraging on CDP and EcoVadis to support our progression. At PwC Network level, we achieved an A- score for our 2024 CDP submission, and PwC Luxembourg earned the EcoVadis Silver medal in 2025.
• We engage with suppliers on science-based targets, we embed ESG criteria in RFPs >€50k and strongly encourage our suppliers to reduce their emissions. We also prioritise local products.
• We help clients to reduce their impact through audits, regulatory advisory, and transformation powered by digitisation and ESG integration.

Strategy

Our mobility strategy is at the heart of our Net Zero commitments. We implement commuting emissions cutting through satellite offices near borders, car-fleet transitioning to electric vehicles and promoting greener transport options as well as the tightening of our Business Travel Policy.

• Eight satellite offices close to the borders offer fully equipped work environments, strategically located to minimise commuting time and distance.
• Since 2025, use of plug-in hybrid cars or electric vehicles is encouraged, and low emission internal combustion engine is still allowed, provided employees opt for vehicles with the lowest emissions
• We encourage people to use alternative means of transportation with lower CO2 emissions, such as car-pooling, car-sharing, EVs/hybrid car leasing, soft mobility, and public transportation.
• Our travel policy shapes our climate strategy by cutting Scope 3 emissions from business travel—one of our key environmental impacts. Guided by “travel less, travel smart,” it ensures responsible travel choices while supporting growth and aligning with our environmental policy and strategy.

• We continue to develop our mobility strategy to consider the significant increase in traffic forecast in the National Mobility Plan 2035.
• We keep the pace on transitioning our lease car fleet to fully electric vehicles. Since 2023, all newly leased cars must meet a maximum emission limit, opting for plug-in hybrid or electric vehicles.
• We expanded electric car-sharing and car-pooling offerings. Employees can access shared electric or low-emission vehicles for both business and private use.
• We doubled the number of on-site charging stations.
• We have deployed our Travel Dashboard, an internal travel dashboard enabling us to monitor past and planned emissions and track flights by traveler. It helps by detecting business travel that could be replaced by lower-carbon alternatives.
• We leverage on an annual mobility survey to understand our employees’ commuting habits, estimate the associated emissions and find solutions to lower our carbon footprint related to mobility.
• We participate in the "European Mobility Week" every year by coordinating conferences related to this topic and raise awareness internally.
• Each line of service (LoS) is assigned an annual CO₂ budget for business travel, managed by our sustainability leaders.