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Net zero carbon emissions in each sector
More and more companies, investors and public organisations are committing to net zero to combat climate change. To achieve this ambition, they are opting for a more sustainable strategy, resulting in a transformation of, for instance, the business model, the value chain and the purchase and sale of business units. Heading towards net zero also requires adjustments to systems and financial processes to measure non-financial KPIs, transparent reporting on sustainability targets and a cultural shift to enable the transformation. What are the highest priority steps for your organisation when heading towards net zero?
To limit global warming, the United Nations climate agreements targeted a fifty percent reduction in global carbon emissions by 2030 with net zero being achieved by 2050. Those goals will be within reach only if virtually all sectors of the global economy transform. The net zero ambition contributes to several Sustainable Development Goals (SDGs). What impact does the net zero ambition have on your organisation?
Like our clients, we need to build trust with our stakeholders and deliver sustained outcomes - and tackling our climate impact is crucial to both. We have therefore committed to Net Zero by 2030. The Science Based Targets initiative (SBTi) validated PwC’s targets to reduce greenhouse gas emissions by 50% in absolute terms from 2019 levels by 2030 in line with a 1.5 degree scenario.
With this approach, which aligns to SBTi’s highest ambition level, PwC commits to decarbonising the way it operates and decoupling its business growth from emissions.
The climate targets have a direct impact on the core activities of certain sectors. Existing and future legislation requires many companies to make drastic changes. However, many organisations are committing themselves independently to net zero as a driver for innovation and sustainable growth. Social pressure is becoming palpable everywhere: shareholders, employees, customers and citizens are demanding effective ESG policy (environmental, social & governance), including a specific strategy to reduce emissions.
PwC supports organisations in various sectors throughout the entire process of strategy, transformation and reporting. We also assist in answering subquestions for your specific situation to arrive at net zero, such as:
We support organisations in all types of sectors in facilitating the transition to net zero. This starts with identifying climate risks and opportunities, and the implications for the organisational strategy. We then collaborate with you on implementing the organisational transformation. We help with compliance, transparent reporting and governance and we provide accountability assurance.