Acting now to mitigate our climate impact

In 2020, PwC announced our global science-based commitment to reach net zero greenhouse gas (GHG) emissions by FY30. This is underpinned by science-based targets to reduce our own emissions, first and foremost.

We’ll also counterbalance our emissions with high quality carbon offsetting projects - including natural climate solutions. From FY30, we’ll transition our portfolio to carbon removals.

How we’re going beyond value chain mitigation

Since 2018, our largest territories have offset, at a minimum, air travel emissions, which are our largest single source of emissions. From FY23, we’ll offset energy and mobility emissions (scope 1, 2 and scope 3 business travel) in all markets.

Our commitment to quality

To manage the risks, as well as maximise broader sustainability benefits, we’ve put in place quality criteria for our network firms when they purchase carbon credits. The criteria define standards, types of project, vintages, portfolio composition, our approach to retiring credits, and require projects go through due diligence by a third party supplier. Read more about our quality criteria in our PwC Network Climate-related disclosures report.

Our current portfolio

Our current carbon offset portfolio focuses on natural climate solutions and developing economies. Projects support other sustainable development outcomes - for instance protecting health and livelihoods and critical ecosystems in rural communities.

You can find more details about our carbon offset projects in the explorer tool below.

The voluntary carbon market is changing rapidly. So we’ve been reviewing our approach to purchasing carbon credits.  We want to make sure we continue to support quality projects that deliver real and verified outcomes. We also want to maximise our impact beyond our value chain – to support nature and local communities.

We’re a member of LEAF¹ - the Lowering Emissions by Accelerating Forest Finance coalition. This is one of the largest public-private initiatives to protect tropical forests and expand the market for high-integrity carbon credits. 

In the short term our focus is to support projects that reduce and avoid emissions while protecting existing carbon sinks, to accelerate global decarbonisation, before transitioning to removals by FY30.

_{¹LEAF Lowering Emissions by Accelerating Forest Finance coalition, 2022. Website}