2024英国企业可持续发展15年经验总结报告-净零排放的基石(英)-普华永道

Corporate

SustainabilityLessonsLearnt

Actingoncarbon:

ThebuildingblocksforNetZeroOur15yearjourney

PwCintheUK

February2024

PwC|CorporateSustainabilityLessonsLearnt

Introduction

Theeffectsofclimatechangeonourplanetarealreadybeingfeltacutelyacrosstheglobe,creatingoneofthelargest

challengesforsociety,businessandnature.Hurricanes

andwildfiresaredevastatingcommunities,coastlines

arethreatenedbystormsurgesandsealevelrise,water

availabilityischanging,andvastareasoflandarebecominginfertile.Thesocialandeconomicconsequencesofthese

changesarewidespread,withthepoorestpeoplewhoareleastequippedtocopeoftenaffectedthemost.

Thecarbonemissionsfromourbusinessoperations

contributetoglobalwarmingandthereforethechangesin

climate.Althoughourcarbonfootprintissmallcomparedtomanyindustries,it’sstillourlargestenvironmentalimpact-sowe’recommittedtodoingwhatwecantominimiseit,aspartofbeingaresponsiblebusiness.

Ourpurposeistobuildtrustinsocietyandsolveimportantproblems.Weunderstandhowimportantitistobepartof

thesolutionanddrivechangeacrossourownoperations,

throughoutoursupplychainandforourclients.Thisall

startswithgettingaclearandaccuratepictureofourcarbonfootprinttohelpusunderstandwhereweshouldfocusourreductionefforts.

OurLessonsLearntpublicationsaredesignedtoshareour

experienceofimplementingoursustainabilitystrategy,in

ordertoallowotherstolearnfromoursuccesses–andour

mistakes.Tacklingtheclimateandnaturecrisisiscoretoourpurpose.Wesetourfirstcarbonemissionstargetsbackin

2007,andhavesincerefreshedourstrategyseveraltimes,

mostrecentlyin2023tofocusondeliveringourNetZero

goals.Asaresultthisdocumentsummarisesour15year

journeyto2022,withsubsequentNetZeroperformancefoundwithinour

AnnualReport

1.

Between2007and2022wereducedthegreenhousegasesassociatedwithourscope1and2emissionsby98%in

absoluteterms.Moreover,we’vereducedouroverallcarbonfootprint,includingemissionsassociatedwithourtravel,

wasteandmaterials,by83%-whilstgrowingourbusinessbythesameamount-evidencingthedecouplingofour

businessgrowthfromourenvironmentalimpacts.Thisreporttellsthestoryofhowwe’veachievedthis.

Furtherinformationonourenvironmentalinitiativescanbefoundat

www.pwc.co.uk/corporatesustainability

anddetailsofourcontributiontoallofthe

SustainableDevelopment

Goals

‘(SDGs)’isavailabletoviewat

www.pwc.co.uk/sdg

.

1.Performancefiguresrelatetothetimeofpublication.

Asgreenhousegasreportingisanemergingfield,withfrequent

changestoscope,reportingstandards,aswellasmethodologicalupdates,thesemaynotmirrorourlatestreportedfigure.

PwC|CorporateSustainabilityLessonsLearnt

2

ExecutiveSummary

Theimpactsofclimatechangeareincreasinglybeingfelt

acrosstheglobe,fromextremeweathertochangesinlandfertility,withwidespreadsocialconsequences.AtPwCwe’recommittedtoplayingourpartinaddressingourowncarbonemissions–ourstakeholdersexpectitofusanditmakes

economicsenseforus,too.

Byreimagininghowwerunandoccupyouroffices,we’ve

cutthecarbonfootprintassociatedwithourbuildings’energyconsumptionby81%,savingusover£40millionincumulativeenergycostssince2007.We’vealsofocusedonprogrammestoreducethenegativeimpactsofourbusinesstraveland

waste,alongsideengagingourpeople,stakeholdersand

clients.Collectivelythesehaveenabledustoreduceourtotal

absolute2022carbonemissionsby83%comparedto2007(exceedingour40%target),whilstdoublingthesizeof

thebusiness.

Webeganourfifteen-yearjourneybyfocusingoncarbon

emissionsfromourbuildings,astheseweretheemissionswehadmostcontroloverandabilitytoinfluence.Thiswasinlinewiththemarketexpectationsatthetimeandthese

formedthemajorityofourcarbonfootprint,priortothe

useofrenewableenergy.Weadoptedfourcomplementaryapproaches:operatingdifferently,consolidatingouroffice

spaceintofewerproperties;refreshingourrealestateto

adoptsustainabledesigns;andinvestinginnewtechnology.

Astheclimatechangeagendaevolved,companieswere

increasinglyexpectedtounderstand,quantify,andtake

responsibilityforalloftheircarbonemissions–notjustthoseassociatedwiththeirenergyconsumption.Forus,thelargestofthesenewemissionsourceswasourbusinesstravel,

whichnowformsalargeproportionofourgreenhousegasemissions.

Morerecently,withtheemergenceoftheNetZeroagenda,

businessesarefurtherexpectedtotakeaccountoftheir

indirectscope3carbonemissions,includingthoseassociatedwiththegoodsandservicesweprocure-whichhasledtothedevelopmentofourcomprehensive

supplychainsustainability

programme.Further,theriseofhybridworkinghasnotonly

transformedthewayweutiliseourbuildings,butalsoshinesaspotlightonemissionsnotpreviouslyconsideredbymanybusinesses;thoseattributedtoouremployeescommuting

andworkingfromhome.Despitethesealsobeingoutsideofouroperationalcontrol,growingexpectationshaveledustodevelopinganumberofengagementinitiativesforourpeople,supportingthemtominimisetheirimpactregardlessofwheretheywork.

Thisdocumentsetsoutourjourneyuptotheachievementofour2022targets.Webeginbelowbysummarisingthelessonswehavelearntoverthepast15years,followedbyanindepthreviewofourjourney.Wethensharedetailedinformation

abouttheapproacheswe’veused,theinitiativeswe’vetriedand-asfarasispossible-thebenefitseachhasdelivered.Finally,wesummariseourachievementsandwherethisistakingusnext.

Wehopethatthedocumentofferspracticaltipsandhintsthatwillbeusefulforotherorganisationsandhelptoaccelerate

thetransitiontoalow-carboneconomy.

We’reproudofourachievementsoverthelastfifteenyearsand,aswelookforwardtothenextphaseofourcarbon

journey,webelievewecandomore.In2020,PwCgloballycommittedtoNetZero,settingverifiednear-termsciencebasedtargetsto2030,ofwhichwereportourprogress

againstinourA

nnualReport

.Wewillbecloselymonitoringthisalongsidetheevolutionofour

NetZeroandwider

sustainabilitystrategy

.

PwC|CorporateSustainabilityLessonsLearned3

LessonsLearnt

Table1

Takeyour

Managingcarbonemissionsisacomplextopic.Gettingyourleadersonboardearlywithyour

leadershiponthe

approachwillgivethemtimetounderstandtheissues,provideguidanceandsupport,andmakeit

journeywithyou

easiertosecureanynecessaryfundingwhenyouneedit.

Makereportingapriority

Decisionmakingandtrackingprogressreliesonaccesstotimely,accurateandrobustdata.Investinyourreportingprocessesanddocumentthemtoensurebusinesscontinuity.Utiliseopensourcetoolsandsustainabilitysoftwaretoautomateprocessessuchasemissionscalculations,toreducerelianceoninternalorexternalexpertise.

Usetargetstomobiliseaction

Targetsareapowerfulwaytoenergiseyourbusinesstoactoncarbon.Youraimshould,ofcourse,betosetNetZerogoalsbasedoncarbonscience.Usinginterimtargetsasstepsalongtheway

allowsyoutobuildconfidenceinwhat’sfeasible.

Measureonlywhatyouneednow,withaneyeonthefuture

Youdon’tneedsophisticatedmeasurestogetgoing.Establishwhatdatayoucangetholdofquicklytogetstarted,thengraduallyincreasethebreadthandsophisticationofdatayoucollectasyour

needsandcapabilitiesevolve.Thatway,youdon’tgetboggeddowninunnecessarydetail,andcanphasethecostsofmeasurementsotheycanbeabsorbedinto‘business-as-usual’budgetsmoreeasily.

Adopta‘do-learn-do’attitude

Establishprocessesfortriallingandevaluatingapproachesbeforerolloutinordertoidentifysuitabilityandactualperformanceversusclaimedbenefits.

Re-evaluate

technologyoptionsregularly

Considertechnologytoolsandcapabilitiestodriveefficiencyandeffectivedecisionmaking.Makesureyou’rerelyingonup-to-dateinformation.Notonlydonewtechnologiesappearallthetime,

butthecost,paybackandenvironmentalimpactsofsolutionschangefrequently.Youmayfindthattechnologiesthatyou’vepreviouslyrejectedarenowentirelysuitable.

Lookoutsideforsupport

There’salottoconsiderwhenmanagingyourcarbonfootprint.Don’tbeafraidtogetsupportfromspecialistthirdpartiesfortheareasyoufeellessconfidentin,beitcalculatingcarbonemissions,meetingregulatoryrequirementsorevaluatingsuitabletechnology.

Setcommongoalswithpartners

Manychangeswillrequirecollaborationwiththirdparties,especiallysuppliersandlandlords.Trytoagreetocommongoalsupfrontanddeterminemeasuresofsuccess.Considersharingthefinancial

benefitsfromyourinitiativestoincentiviseandmotivateyourpartners.

Stayconnectedinternally

There’snopointinvestinginabuilding’ssustainabilityfeatures,onlytofindyou’removingoutoftheofficewithintheyear,orencouragingyourpeopletochangetheirtravelbehaviourswhenthey’re

abouttoberelocated.Workoutwhereyourinterdependenciesareandkeepintouchacrossyourdifferentteams(facilities,realestate,travel,IT,communications,sustainability,etc.)sothatyoursuccesseslast.

Expect

behaviourchangetotaketime

Insomecases,youmightbeabletoshiftbehavioursovernight–forinstance,ifanewenvironmentforcespeopletoadjusttheirhabits,likemovingoffices.Butinmostcases,it’saslowandtime-

consumingprocessandcanbedisruptivetoyourpeople.Dowhatyoucancentrallyfirst,andonlyembarkonbehaviourchangecampaignswheretherearenootherwaystoachievetheimpact

youdesire.

Celebrateyourachievements

Beproudofwhatyouachieveandshareitwithyourpeopleandotherstakeholders.Ithelpsto

engageyourpeopleandearnsyoutherighttoencouragethemtotakeaction.Itcanalsohelpyoutogainsupportfromyourleadersandbuildyourreputationasaresponsiblebusiness.

PwC|CorporateSustainabilityLessonsLearnt4

1

Aframeworkforourjourney

Settingupforsuccess

Embarkingonajourneytoreducecarbonemissionscanbefairlydauntingasit’saverydynamicagendawhich

requiresregularre-evaluationofprioritiesandsolutions

tobeeffective.Overourfifteenyearjourney,newtechnologieswerecontinuouslybeingdevelopedandpaybackperiods

werechanging.Carbonsciencewasevolving,revealingnewemissionssourcesorrevisedconversionfactors.

Governmentsupportandregulationwasstillmaturingand

alteringthefinancialimplicationsofcarbonmanagement

programmes,whilststakeholderexpectationswereincreasingalongsideaproliferationofdisclosurerequirements.

Tohelpmanagethisuncertainty,weagreedonasetof

principlesforhowwewouldoperate,andtookaseriesofactionswhichprovideduswiththerightstructurestobe

abletoreduceourcarbonemissionseffectively,asdescribedbelow.

Ourguidingprinciplesinourapproachtoreducingcarbonemissions

Minimisedisruptiontoourpeople.

We’vefoundthatmanychangescanbemadewithlittleto

noimpactonourpeople-forinstance,changingtechnologyinourbuildingsintheeveningsorweekendssothatwe

don’thavetocloseouroffices.Wherethechangeaffectedourpeopleorneededthemtobehavedifferently-for

instancemovingofficesorremovingdesksidebins-we

communicatedearlysotheyhadtimetoadjustandrespondifnecessary.Thisapproachhasmadeiteasiertogetinternalbuy-inforouractions.

Adoptadata-drivenapproach.

Thishasnotonlyhelpedustotrackourprogressinreducingourcarbonfootprint,butalsotorefineandstrengthenthe

businesscaseforourvariousinvestments,overtime.

Leverageourrealestaterefurbishmentprogrammetoadoptnewtechnologies.

Althoughthiswasnotalwayspossible,timingtheintroductionofnewtechnologiestoourbuildingrenewalshasgenerally

helpedustoadoptbettertechnologyatalowercostandwithgreaterengagementfromourpeople.

Pilotnewtechnologiesinoneoffice.

Thishasbeenparticularlyimportantwherewe’vepioneeredemergingtechnology.It’sallowedusto‘giveitago’for

technologiesthatwouldordinarilybediscountedastooriskyorwherethebusinesscasewasn’tasclearasitmightbe.

Triallingtheoptionshasallowedustovalidatetheirfeasibilityandfinancialreturns,improvingtheirsuccessrateonce

introducedacrossourwholeportfolio.

Usethirdpartiesforinspirationandsupport.

Wehaven’tbeenafraidtoleanonexternalexpertstohelpusidentifyandimplementnewapproachesandtechnologiesforreducingourcarbonemissions.There’salotofinformation

inthemarketplaceandyoucansavetimeandmoneygettingtargetedsupport.Thesamewouldtypicallybetrueforpolicyandregulatoryadvice,too,althoughwe’reuniquelyplacedbyhavingdeepexpertiseontheseareasin-housewhichwecandrawon.

Engagingleadershipandourpeople

Weengagedourleadershipearlyoninourcarbonjourney,

educatingthemonclimatescienceandtheopportunitiesandrisksaroundcarbonmanagement.Bydoingso,we’vegainedsupportforsettingambitioustargetsaswellasapprovalofanongoing,additional,annualbudgettoinvestinawiderangeofcarbonreductioninitiativesandtechnologies.

We’vealsoinvestedindedicatedresourcestofocusonourcarbonemissions,includingafulltimesustainabilityreportingteam,asupplychainsustainabilityteam,whichfocuseson

theimplementationofseveralsupplychainengagementandmonitoringprogrammes,anenergymanager,whobrings

initiativestogetheracrossoffices,andabehavioursteam

focusedonhelpingtoinformandengageourpeopleaboutsustainability,specificallyreducingenergy,bothatworkandathome.

Settingtargets

Wegaveagreatdealofthoughttosettingourtargets.Theynotonlymotivatedusandguidedouractions,

butalsoformedthebasisforourdiscussionswith

leadershipandourcommunicationwithwiderstakeholders.

Wewantedourtargetstobeastretch,whilststill

beingfeasible.Wealsowantedthemtodemonstrateour

commitmenttonationalandglobalgoalsforcarbonreduction.And,we’veincreasedthelevelofambitionalongtheway,

asourconfidenceinfindingsolutionshasgrown(see‘DeepDive:Settingourcarbontargets’insetformoredetails).

Achievingexternalstandardsandawards

Wesoughttogetaccreditationwithrelevant

external

standards

andappliedforselectedawards.Thesehave

helpedustocontinuouslyimproveoursystems,have

providedbenchmarksofourperformanceagainstother

companies,andhavegivenusaplatformfromwhichwe’vebeenabletoshowcaseoursuccessestoourpeople,our

clientsandotherstakeholders.Indeed,we’vehadextensive

interestinourgreenbuildingsandcarbonreduction

achievementfromclients,policymakersandinternationaldelegationsalike.

Themaincarbon-relatedstandards-whichweobtainedforallofouroffices-areISO14001(since2008)and,subsequently,ISO50001(since2012),bothofwhichhaveencouragedustoimproveourprocessesrelatingtoenergymanagement.

In2022,webecamethefirstorganisationtoachievethe

‘Advancing’tierofthe

CarbonTrustRoutetoNetZero

Standard

,whichrecognisesourprogressonourownjourneytoNetZero.ThestandardreplacestheCarbon,Wasteand

Water,andSupplyChainstandardswhichwe’veheldsince2009and2015respectively.

PwC|CorporateSustainabilityLessonsLearnt6

PwC|CorporateSustainabilityLessonsLearnt7

In2022,webecamethefirstorganisationtoachievethe‘Advancing’tierofthe

CarbonTrustRoutetoNetZero

Standard

,whichrecognisesourprogressonourown

journeytoNetZero.

Publishingpolicies

Earlyinourjourney,wedevelopedanenvironmentalpolicyandanenergypolicywhichsetoutbothourtargetsand

ourwidercommitmentstomanagingourenvironmentalperformance,includingourcarbonemissions.

Thepoliciesarereviewedandsignedoffbyourleadership

regularlyandpublishedinternallyandexternally,formalising

ourintentionsandholdingustoaccountoverouractions.

Theyalsodemonstratetoourstakeholdersthatourleadershipiscommittedtoreducingourcarbonfootprint.

Agreeingameasurementapproach

Havinggooddataisessentialtotrackprogressandidentifyopportunitiesforimprovement.Butthisdoesn’tnecessarily

meaninvestingheavilyintechnologyandsoftwarerightaway.Indeed,we’vechosentoimproveourmeasurementinstagesandattimeswhenitmadesensefromabusinesspoint

ofview.

Ourenergymanagementsystemisonesuchexample.

Tenyearsago,weusedmonthlyenergydatawhichwasmorethanenoughtogetusgoing,andsupplementedthiswith

spottestsifneeded.Overtime,weintroducedAutomatic

MeterReading(AMR)intomanyofouroffices,whichenabledustoanalyseourenergyprofilesandidentifyopportunities

tooptimiseourenergyperformance(see“

Energy:Operating

differently

”formoredetails).

Ourgreenhousegasemissionsreportinghasmaturedina

similarvein.Havingstartedwithjustspreadsheets,wequicklyinvestedinasimplereportingtool,basedonafacilities

managementpackage.Thishelpeduscalculateourcarbon

emissionsmoreefficiently,andprovidedasinglerepository

ofdatathatvariousinternalstakeholderscouldaccess,savingtimeforeveryoneinvolved.

Afterafewyears,however,itwasunabletocopeeffectivelywithadvancedcarboncalculations,bespokeestimations,

androbustworkflowfordatasign-offandaudit.Weoptedtoupgradetoamoreadvancedsystem,designedspecifically

forsustainabilityreporting-andwhichwasabletotrackall

oursocialandenvironmentalimpactsacrossouroperationsandsupplychain(see

DeepDive:Pioneeringhumanled-tech

poweredsustainabilityreporting)

.

Ineachcase,bykeepinganeyeonourfuturerequirementsandoptingtoinvestinbettermeasurementonlywhenweneededit,we’vebeenabletophasethecostssothat

theycouldbemoreeasilyabsorbedintobusiness-as-usualbudgets.

Obtainingassurance

Havingaccuratedatagivesusconfidencetomakebusinessdecisionsandhelpsustobuildtrustwithourstakeholders.Tothatend,since2012,we’vereceivedexternallimited

assurancefromourfinancialauditorsforallmetricsreportedinour

AnnualReport

,withourcarbonemissionsassessedagainsttheISAE3000standard(includingforourbaseline

year,2007)and,morerecently,againsttheISAE3410standard,too.

Theannualauditprovidesausefulsteerforimprovementsweshouldmaketoourmeasurementandreportinginthe

followingyear.Inaddition,knowingthatourprocessesanddatawillbescrutinisedhasinstilledarealcultureofongoingrigourandaccuracyinourteams,suchthatwe’realways

askingthequestion‘Isthisgoodenoughtobeaudited?’

Creatingpartnerships

Manyoftheimprovementswe’vemade,eitherintheway

weoperateorwiththetechnologywe’veadopted,have

dependedonoursuppliersandtheirwillingnesstosupport

usintryingsomethingnew.Wesoughttoidentifystrong

collaboratingpartners,engagingthemearlyinanyprojectsowecouldalignonexpectations,shareexpertiseandagreeonacommonsetofgoals.Thispartneringapproachhasallowedustodeliverambitiousresults,toschedule,andinarelativelyshortperiodoftime.

Forexamplesofourpartnerships,seeour

Energy:

Consolidatingourofficespace

,

Energy:Refreshing

ourrealestate

and

Energy:Investinginnew

technology

sections.

PwC|CorporateSustainabilityLessonsLearned7

Howwestartedourjourney

In2007,wesetaboutmeasuringourcarbonemissionsto

helpusunderstandwhereweshouldfocusourreduction

efforts.Wehadcalculatedahigh-levelfootprintpriortothis,butfeltweneededamorerobustapproachtoinformour

decarbonisationactivitiesandtoreflectthegrowingmaturityofcarbonreporting.Later,wealsosoughtinternaland

externalassuranceofourdata,tovalidateourresults.Themajorityofourcarbonemissionsin2007stemmedfromourbusinesstravel(67%),notablyflightstoclientsorforinternal(i.e.nonclientfacing)purposes.Therestrelatedtoenergy

usedinourbuildings(33%),primarilyelectricity(seeChart1).

Chart1

SplitofPwCgreenhousegasemissions20071

Travel

67%

Energy

33%

Rail,3%

Hotels,7%

Road,8%

Air,49%Oil,<1%

Naturalgas,4%

Fueland

energy-relatedactivities,6%

Electricity,22%

Definingourscope

Weusedthe

GreenhouseGasProtocol

(GHGProtocol)to

guideusthroughthestepsneededtomeasureourcarbonemissions.Theseincludedsettingtheboundariesandscope

ofmeasurement,agreeingonthematerialsourcesofemissions,andestimatingformissingdata.

Atthetime,manycompanieswerechoosingtoonlyreporttheirscope1and2emissions,i.e.thoserelatedtosourcescontrolleddirectlybytheirorganisations(suchasfuelusedintheirboilersorcompany-ownedvehicles)aswellas

purchasedelectricity.However,sincetravelwasasignificantproportionofourtotalemissionsandintegraltothewaywedobusiness,wefeltweshouldlooktounderstand,reduceandreportontravel-relatedemissions,too.

Calculatingouremissions

Westartedcollectingconsumptioninformation,andfoundwecouldgetgoodenergydatafromutilitybillsforthebuildingswecontrolled.Landlord-ownedofficesandmulti-tenanted

buildings,however,requiredmoreeffort:wehadtorequestthedataand,insomecases,neededtoestimateourshareoftheenergyuse,basedontheproportionofthetotal

floorspaceweoccupied.Ittookabitoftime,butdidn’tprovetobetoodifficult.

Traveldata,ontheotherhand,waslessstraightforward.

Wewereabletogetaccuratedatafromourtravelservice

provideronthenatureofourbusinessflights,including

destinationsandclassoftravel-allofwhichinfluencethe

carbonfootprint.Butforothermodesoftransportwhere

bookingswerelesscentralised,wehadtouseourexpensessystemand‘convert’thespendbacktotravelconsumption

inmiles,whichrequiredmuchmoremanualintervention.

Oncewehadconsumptiondata,thefinalstepwastoconvertthisintocarbonemissionsusingtheUKgovernment’s

carbon

conversionfactors

.

Opportunitiesforcarbonreduction

Withenergyuseinourbuildingsformingthelargestpart

ofouremissions,andwithmostregulationandreportinginthemarketfocusedonscope1and2carbonemissions,

reducingourenergyuse

wasatoppriority.

Lookingatourbuildingstockin2007,wehad43offices

acrossthecountry,manyofwhichweresmall,andnolongersuitableforourbusinessneeds.Furthermore,manyofour

buildingswereold-fashionedandinneedofrefurbishment,withawidevariationinenergyperformance.Thispresenteduswithagreatopportunitytoembedmoreenergy-efficientwaysofworkingasweconsolidatedandupgradedthe

portfolio,andformedthestartingpointforourcarbonemissionsreductioninitiatives.

Businesstravelalsoneededourattention,asitaccountedfor67%ofourreportedgreenhousegasfootprint.Flightsformedthelion’sshareofthis,at73%ofalltravel.Aproportionofthiswasfromnonclient-facingairtravel,whichwasfullywithin

ourcontrol,sothiswasoneoftheareaswe

targetedforearly

intervention

.Client-facingairtravelwasmoredifficultasitisanecessarypartofhowweserveourclients.Nonetheless,

westillwantedtodowhatwecouldandfelttherewasanopportunitytochallengeourselvesandourclientstoadoptnewwaysofworkingwhichhadalowercarbonfootprint.Wesoughttoaddressthisalittlelateron.

Sincefirstreported,we’veupdatedour2007carbon

emissionstoreflectbetterdataavailability,reportingguidance

(forinstanceinclusionofradiativeforcing)andtheUK

government’sannualcarbonfactors.Seeour

AnnualReport

forthelatestdata.

1.Sincefirstreported,we’veupdatedour2007carbonemissionstoreflectbetterdataavailabilityandUKGovernmentannualcarbonfactors.Seeourannualreportforthelatestdata.

PwC|CorporateSustainabilityLessonsLearnt8

2

DeepDive:

Settingourcarbontargets

PwC|CorporateSustainabilityLessonsLearnt9

Overview:Ourfifteenyearjourney(2007-2022)

Ourfifteenyearjourneyto2022encompassedthreedistinct5yearphases:2007-2012,2012-2017and2017-2022,endingwithuscommittingtoNetZerowith2030goals.Ateachstage,weincreasedourlevelofambition,settingnewpublic

reductiontargets,andreportingtransparentlyonourprogresstowardsthemonanannualbasis.

Establishingourtargets

Eachsetoftargetswasdevelopedbytriangulatingthree

differentinputs–internalfeasibility,nationalrequirements,andthecompetitorandmarketlandscape.Wesynthesisedthese,collatingthemintoacommunicationsmessage

thatwassimpletounderstandandcompellingtoallofourstakeholders.

Feasibility:Havingagreedwithleadershipthatour

environmentalperformancewasapriority,amodestannualinvestmentbudgetwassetforcarbonreduct