EY announces ambition to be carbon negative
KUALA LUMPUR: EY announced an ambition to be carbon negative in 2021 by se ing targets to significantly reduce its absolute emissions and removing and offse ing more carbon than it emits.
In a new statement on sustainability, EY sets out the seven key components of its plans to not only become carbon negative but to reduce total emissions by 40 per cent – consistent with a sciencebased target – and achieve net zero in 2025.
The EY commitment to sustainability is an integral part of its NextWave strategy and ambition to create longterm value for all stakeholders. Launched in FY20, the NextWave strategy supports the EY purpose of building a be er working world.
This new ambition builds on the global organization’s achievement of carbon neutrality in December 2020 and underscores the EY commitment to the environment and to driving long- term, sustainable growth.
EY Global chairman and CEO Carmine Di Sibio said: “We believe that comba ing climate change is a vital element of building a be er working world. While this challenge is unique and different for each organisation, we are inspired by those that are se ing ambitious targets despite the
We believe that comba ing climate change is a vital element of building a be er working world. While this challenge is unique and different for each organisation, we are inspired by those that are se ing ambitious targets despite the difficulties they face.
difficulties they face.
“EY people are passionate about tackling big challenges and with the power of 300,000 of them, we will not only transform EY to become a leader in sustainability, but also help EY clients do the same.”
Alongside the work it is undertaking to become more sustainable, EY teams are developing a new set of global sustainability solutions for EY clients aimed at helping them on their own sustainability journeys.
The solutions will be focused around value-led sustainability, helping EY clients capture the business opportunities from sustainability and decarbonisation, while also protecting and creating value. This follows the approach EY teams have taken to achieve these sustainability targets and carbon negative ambition.
EY Global vice chair – Sustainability Steve Varley said: “EY has set this ambition because it is increasingly clear that, collectively, we need to do even more to help avert a climate change disaster. EY people are proud that we met our ambition to become carbon neutral in 2020.”
He added, “That is why there are also investments in new solutions and services to help EY clients protect and create value from becoming more sustainable too.”
EY is continuing to invest in technology and transform its business, which was accelerated by the Covid-19 pandemic. It is expected that many of the changes that have been implemented as a result of the Covid-19 pandemic will help EY achieve its sustainability ambitions by helping EY teams learn and implement new ways of working, and EY will continue to innovate and utilise the best of these.