PwC buys sustainability business
Deal part of drive by firm to bolster climate change credentials
PricewaterhouseCoopers has moved to expand its fast-growing environmental
consultancy unit by buying advisory firm Sustainable Finance Limited.
The Big Four firm said its latest acquisition will help it identify and
mitigate environmental and social risks within clients’ businesses. The firm’s
sustainability and climate change services in the UK have trebled in size in the
past 18 months.
SFL was established in 2003. Shortly after, it helped to develop the Equator
Principles, the international industry standard for managing environmental and
social risks in project finance.
Ian Powell, PwC’s UK chairman and senior partner, said: ‘We believe it is
vital for us to accelerate our investment in sustainability services,
particularly in the financial services sector as it seeks to rebuild trust and
confidence. We are delighted that the SFL team are joining us.’
Late last year PwC appointed Malcom Preston as chief executive of its
sustainability and climate change practice and also appointed three partners to
the team.
Co-founders Leo Johnson and Matt Arnold will join the PwC partnership in the
UK and US respectively.
Further reading:
Preston
adds weight to PwC sustainability practice
