PwC to switch to 100% renewable energy by 2022

PwC to switch to 100% renewable energy by 2022

The firm made this pledge as part of plans to reduce its carbon footprint by 40% by 2022

PwC has pledged to switch to 100% renewable energy and reduce its carbon footprint by 40% by 2022.

The firm has already reduced its carbon footprint by 29% in the past 10 years, surpassing the goal of a 25% reduction set in 2007.

The firm looked back on previous initiatives and revealed its new goals in its report “Acting on carbon: Our 10 year journey”.

Kevin Ellis, chairman and senior partner at PwC, commented: “By setting clear targets we’ve been able to make a significant difference to our carbon footprint over the past 10 years.”

“Being very clear on what we wanted to achieve has allowed us to challenge ourselves to do things differently – from how we light, heat and cool our buildings, to how we design and use our office spaces, and how we work.”

He added: “We’ve made good progress, but recognise that we’ve also made some mistakes along the way and that’s why we’re keen to share our experience.”

The Big Four firm explained that it was able to reduce its energy consumption by 50% since 2007 through various actions ranging from simple to more elaborate.

Simple measures included ensuring lights were turned off out of hours, switching to renewable electricity contracts and implementing recycling stations on every floor. As a result 86% of its waste has been recycled.

The firm also redesigned and refurbished its offices to optimise flexibility and reduce energy needs.

PwC also invested in various low-carbon technologies such as tri-generators in its offices that run on used cooking oil.

Another key initiative to minimise its carbon footprint was the reduction of business travel, through cutting internal flights and expanding online communications.

Ellis added: “Reducing our carbon footprint has also had financial benefits, showing that economic success and doing the right thing can go hand-in-hand.”

“Our people and clients expect us to continue to lead the way, which is why we’re announcing new ambitious targets to reduce our carbon footprint further in the next five years.”

Related Articles

Deloitte poised to replace PwC as Lloyds' auditor amid Big Four conflict

Big Four Deloitte poised to replace PwC as Lloyds' auditor amid Big Four conflict

3w Lucy Skoulding, Reporter
FRC data on Big Four audits may highlight need for industry overhaul

Audit FRC data on Big Four audits may highlight need for industry overhaul

1m Lucy Skoulding, Reporter
Another accounting error for BT Group as £500m pension deficit mistake revealed

Audit Another accounting error for BT Group as £500m pension deficit mistake revealed

2m Lucy Skoulding, Reporter
PwC replaces Deloitte as Linklaters auditor after Arsenal lawsuit

Audit PwC replaces Deloitte as Linklaters auditor after Arsenal lawsuit

2m Alia Shoaib, Reporter
PwC ordered to pay $625.3m over failure to detect Colonial Bank fraud

Audit PwC ordered to pay $625.3m over failure to detect Colonial Bank fraud

3m Alia Shoaib, Reporter
PwC auditor spent just two hours on BHS audit, says chairman

Audit PwC auditor spent just two hours on BHS audit, says chairman

3m Alia Shoaib, Reporter
PwC fined a record £10m over BHS audit

Audit PwC fined a record £10m over BHS audit

3m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

6m Alia Shoaib, Reporter