Image courtesy of EY

EY Announces Commitment to be Carbon Neutral by end of 2020

Originally posted by EY.com

  • First Big Four organization to announce plans to go carbon neutral globally
  • Announcement marks the next step in the EY journey toward becoming more sustainable
  • Commitment extends to supporting EY clients in their sustainability plans

EY today announces plans to be carbon neutral by the end of 2020, by both reducing and offsetting its carbon emissions. The commitment reflects the EY focus toward becoming a more sustainable organization by improving environmental performance and driving long-term, sustainable growth.

To achieve carbon neutrality, EY will focus on areas including reducing travel emissions, sustainable procurement practices and purchasing more renewable energy to power EY offices, for example wind or solar energy. It will also purchase carbon credits to offset the EY carbon footprint and invest in projects that reduce carbon emissions or remove carbon from the atmosphere, for example reforestation projects.

In addition to the work it is undertaking to achieve carbon neutrality, EY is also expanding its global sustainability strategy which will focus on helping clients innovate and use technology to reduce their own carbon emissions, while driving sustainable economic growth.

Carmine Di Sibio, EY Global Chairman and CEO, says:

“Protecting the planet for future generations is an important issue for EY people and becoming carbon neutral this year is a real step forward on the EY sustainability journey. As an organization that spans more than 150 countries, with varying views and ambitions on climate change, we recognize this is no easy feat. However, with over 284,000 EY people who are dedicated to our purpose of building a better working world, EY has a once-in-a-lifetime opportunity to take immediate action to create sustainable, inclusive growth for generations to come.”

Today’s announcement elevates action that EY has already taken to reduce its environmental impact, including:

  • Designed its environmental strategy in alignment with the United Nations Global Compact (UNGC) environmental principles, including measurement and reporting of the EY carbon footprint over the past 10 years.
  • Issued a global environmental statement in financial year (FY) 18, setting the expectation that the global EY network bears a collective responsibility to minimize its environmental impact.
  • Between FY17 – FY19, EY decreased office energy emissions by over 11% while continuing to grow its business, resulting in a 25% reduction in energy emissions per full-time employee (FTE).
  • Over the past 15 years, its market-leading EY Climate Change and Sustainability Practice has supported EY clients’ decarbonization and sustainability journeys by helping them implement a range of solutions crossing sustainability, supply chains and reporting.
  • Played a leading role in the World Economic Forum’s International Business Council and developed a core set of common metrics and disclosures on non-financial factors to their investors and other stakeholders.
  • Introduced a global supplier code of conduct and procurement environmental criteria to improve the sustainability of products and services.
  • Collaborated with hotel suppliers to reduce waste, emissions and water use from EY people.
  • EY people have dedicated time and skills to accelerate environmental sustainability through the EY Ripples program and helped scale nearly 100 impact enterprises focused on critical socio-environmental issues.

Steve Varley, EY Global Vice Chair – Sustainability-elect and EY UK Chairman, says:

“EY has the potential to become a world leader in sustainable business and becoming carbon neutral is an important step toward making that a reality. By supporting a culture of disruptive innovation, EY can find creative solutions that address global environmental challenges and drive growth that is truly sustainable. EY people are a driving force behind our focus on the environment and have sent a clear message that we must work together to build a more sustainable and better working world for EY clients and communities.”

In addition, EY around the world is already focused on sustainable solutions. EY US entered into a Virtual Power Purchase Agreement (VPPA) to finance and construct two large scale Texas wind farms to become 100% renewable in 2020. Meanwhile, EY UK is currently in the process of contracting directly with a solar farm developer and seeking to sign a 10-year agreement for 100% of its UK power demand. EY in India has planted 1 million trees since 2010 and in a number of countries, including in Costa Rica, EY has already achieved carbon neutrality. Through EY Ripples, EY people have worked with impact entrepreneurs to help scale a variety of environmental enterprises around the world including bringing clean, affordable energy to off-grid families in Sierra Leone and providing solar power for communities in Kenya.

 

Latest News

CDO Series: Humana’s Carolyn Tandy

Following the murder of George Floyd, the role of Chief Diversity Officers has become more important as companies started to be more intentional with their diversity, equity and inclusion efforts, which has made the last few years tumultuous for many CDOs. In the first interview of a series of articles…

The Importance of Education-Focused Community Partnerships

Community partnerships focused on education are vital to creating and improving the network that connects diverse, underrepresented students and young professionals with employers seeking new talent. For Stephanie Turner, VP of Inclusion, Diversity and Social Innovation at MITRE, advocation starts at the root of education: grade school curriculum, especially in…

5 Biggest News Stories of the Week: August 4

As the saying goes, the news never stops — but there’s a lot of it out there, and all of it doesn’t always pertain to our readers. In this weekly news roundup, we’ll cover the top news stories that matter most to our diversity focused audience. 1. The Supreme Court’s…

Mastercard Names Ellen Jackowski Chief Sustainability Officer

Originally published at mastercard.com. Mastercard ranked No. 2 on The DiversityInc Top 50 Companies for Diversity list in 2022.   Mastercard announced Ellen Jackowski will join the company as Chief Sustainability Officer starting July 25, 2022. In this role, she will be instrumental in further integrating Mastercard’s Environmental, Social and Governance…

Seven Startups Join Mastercard Start Path Program, Supporting Underrepresented Founders

Originally published at mastercard.com. Mastercard ranked No. 2 on The DiversityInc Top 50 Companies for Diversity list in 2022.   Mastercard is expanding its award-winning Start Path startup engagement program to include seven early and late-stage startups hailing from the United States, Canada and Latin America. Carbon Neutral Club, Guava, oneKIN, Palla, SUMA…