Monday 25 January 2021
EY pledges to cut 40% of absolute emissions and offset more than the remainder by 2021
EY pledges to cut 40% of absolute emissions and offset more than the remainder every year by 2021.
The global business says this science-based target and offsetting commitment will make it carbon-negative by this time, on its journey to becoming net zero by 2025.
EY, which says it became carbon-neutral in December 2020, has set out a new strategy outlining how it wants to further reduce its environmental impacts.
It hopes to cut business travel emissions by 35% by 2025 against a 2019 baseline, as well as reduce overall office electricity usage and procure 100% renewable energy by this time.
The firm also says it will structure power supply contracts using virtual power purchase agreements (PPAs) to deliver more clean power to the grid than it consumes itself, use nature-based solutions and carbon-reduction technologies to remove more emissions than it emits from the atmosphere and provide its staff with tools to calculate their own carbon footprint.
It will also invest in services and solutions to help its clients tackle climate change and will require 75% of its suppliers, by spend, to set science-based targets for 2025 or earlier.
Carmine Di Sibio, EY Global Chairman and CEO, said: "We believe that combatting climate change is a vital element of building a better working world. 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.”
