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The big four firm has committed to cutting business travel emissions by more than a third and ensure its offices rely on 100 per cent renewable energy in its push towards net-zero carbon emissions by 2025.
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EY targets net zero by 2025
26 January 2021
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8 minute read
EY’s plans to tackle climate change include reducing total emissions by 40 per cent, enabling it to reach net zero by 2025.
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It comes after the firm became carbon neutral in 2020, with COVID-19 helping to slash business travel emissions.
EY global chair Carmine Di Sibio said the ambitious plan was driven by the changing expectations of its stakeholders, especially its 300,000 EY people across the globe.
“We believe that combating climate change is a vital element of building a better working world,” said EY global chair Carmine Di Sibio.
“While this challenge is unique and different for each organisation, we are inspired by those that are setting ambitious targets despite the 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.”
To reach its target, the big four firm will reduce business travel emissions by 35 per cent against its 2019 financial year baseline.
EY will also slash overall office electricity usage and procure 100 per cent renewable energy for its remaining needs.
It will look to provide EY teams with the EY Engagement Carbon Calculator, enabling them to assess and then reduce the amount of carbon emitted in delivering client work.
EY clients and suppliers will also be targeted as part of the change, with plans to invest in solutions to help them decarbonise their business in their own sustainability journeys.
“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,” said EY global vice-chair – sustainability Steve Varley.
“We are deeply concerned about the science and what that means for our planet. We believe that becoming carbon negative in 2021 and net zero in 2025, reducing our emissions in line with a science-based target, is the right ambition to have.
“We realise that these challenges are different and more difficult for certain industries. 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.”
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