The impacts of climate change are being felt like never before. Many places are experiencing the most severe natural disasters in recent history – severely disrupting lives, livelihoods and economies. Governments, businesses and societies need to understand the climate risks that we are facing and adapt to the impacts of a changing climate. For this reason, we need to work together to accelerate the decarbonisation of our economies.
PwC is committed to addressing the root causes of climate change and to leading by example. We have been taking bold steps to contribute to China's ambitious 30-60 decarbonisation goals and made a worldwide commitment to achieve net zero greenhouse gas emissions with 2030 goals.
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Net zero with 2030 goals
Our decarbonisation targets
Our net zero commitment is underpinned by near-term science-based targets set for 2030 in line with a 1.5 degree scenario to prevent the worst impacts of climate change, as set out in the Paris Agreement. In July 2021, our near-term emission reduction targets were independently validated by the Science Based Targets initiative (SBTi).
We have committed to:
- Reduce scope 1 and 2 absolute emissions by 50% from a FY19 base by FY30.
- Transition to 100% renewable electricity in all territories by FY30.
- Reduce absolute business travel emissions by 50% from a FY19 base by FY30.
- 50% of our purchased goods and services suppliers (by emissions) setting science-based targets to reduce their own climate impact by FY25.
“Climate change isn’t a challenge for future generations, but one that we must all tackle together, today. At PwC, we’re taking proactive steps to reduce our emissions in our daily operations each year, achieving 50% reduction by 2030.”
PwC China's FY23 progress:
Decarbonising operations
At PwC China, we are committed to decarbonising our business and adapting to the impacts of climate change. This means setting clear targets, creating practical plans that achieve real results, and collaborating with other organisations in the broader ecosystem to support the net zero transition.
Our approach to delivering on net zero in our operations and supply chain is based on the carbon mitigation hierarchy:
- Avoid: eliminate our impact through redesigning business strategy and operating model.
- Minimise: reduce impacts that cannot be avoided by improving efficiency and replacing high carbon energy sources with low carbon ones.
- Compensate: offset emissions that are not eliminated by the above to mitigate our impact today.
Climate services
PwC China places high importance on developing and scaling up the capabilities in climate and broader ESG services so that we can respond to market demand and our clients’ needs. We continue to adapt and expand our services to offer consistent tools and methodologies to address the challenges posed by climate change. These services not only help solve current challenges but also enable our clients to better understand the impact of climate change on their business and how they can transition towards low carbon business models.
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Climate agenda
We are at the forefront of the transition to a low-carbon economy and a more sustainable future. We understand that building trust and partnership is crucial for collective action and for making greater impact to support China's sustainability priorities. As the national strategic development plan outlines the importance of deepening reform and embracing modernisation, we strive to maximise our influence through sharing skills, knowledge, and resources to accelerate decarbonisation and facilitate green transformation and to comply with current and future regulations.
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