Asian farmer on a ladder harvesting cherry tomatoes
Asian farmer on a ladder harvesting cherry tomatoes

How can you turn pledges and promises into progress and performance?

In FY23, EY continued to reduce GHG emissions, down over 40% compared to FY19, while growing people and revenues around 40% over the same period.

In brief

  • Sustainability is a business imperative; in FY23, EY teams continued to reduce global absolute greenhouse gas (GHG) emissions while growing the business.
  • EY Climate Change and Sustainability Services advised over 5,000 clients on climate issues such as sustainable development and decarbonization.
  • The global EY organization continues to work with suppliers, clients, employees and stakeholders to reduce and remove emissions in areas such as travel, energy and waste.

At EY, we combine our commitments to embed decarbonization, through behavior change, investment and technology and working with our suppliers, with supporting our clients to drive wider plans and transformation in their own businesses.

In January 2021, EY announced its science-based decarbonization target which included a commitment to net zero (by 2025) with a 40% reduction in absolute GHG emissions across scopes 1,2,3, based on relevant standards at that time. This includes reducing travel emissions by 35%, also against an FY19 baseline. We published a seven-point plan to FY25, demonstrating how we would begin to integrate investment, behavior change, innovation in tools, technology and training, as well as collaboration with our people, suppliers, alliance collaborators and stakeholders.

In FY23, EY reduced absolute GHG emissions by 43% compared to FY19 (our current baseline year) while growing the global organization (by headcount and revenue) by around 40% over the same period. EY’s total GHG emissions for FY23 amounted to 777,000 tons of carbon dioxide equivalent (tCO2e), a 43% reduction when compared to our FY19 baseline. Over FY23 we’ve made substantial progress on each of our key actions:

How EY can Help

The global EY organization’s foremost commitment is to decarbonize its business and work with clients to do the same — decoupling greenhouse gas (GHG) emissions from growth — and integrating climate action as a catalyst to wider social and economic benefits. We are transforming the organization over time, equipping EY people with the knowledge and skills needed to understand and respond to both climate risks and opportunities and those of EY clients. FY23 saw the first graduates earn their EY Masters in Sustainability, over 8,000 people gain Sustainability-related EY badges (free and open to all EY people), and over 34,000 people complete the Sustainability Now course.

 

This is an ongoing process and we will continue to challenge ourselves on both the scope and progress of our ambition. It is a business imperative for all of us. Work has already begun on the next phase of our science-based decarbonization plan, reviewing our commitments and progress against the latest standards. This includes examining the Taskforce on Nature-related Financial Disclosures (TNFD) and Science-Based Targets initiative (SBTi), how our technology investments and tools can enable more real-time insights on our performance; and how our strategy is responding to greater public awareness of the social, economic and environmental impacts of climate change.

 

Ultimately, we remain committed to the long-term deep decarbonization and transformation of our business aligned with a net-zero transition.

 

Find out more in our full Value Realized report.

Summary

The global EY organization’s foremost commitment is to decarbonize its business and work with clients to do the same — decoupling GHG emissions from growth — and integrating climate action as a catalyst to wider social and economic benefits. It’s another way we are building a better working world.

Related content

How can sustainable finance transform 2050 pledges into real-world impact?

Financial institutions need a framework that allows them to anticipate seismic economic transformation and adapt their strategy accordingly. Learn more.

Tom Groom

EY reports record global revenue results of just under US$50b

LONDON, 13 SEPTEMBER 2023. The Global EY organization (EY) today announces combined global revenues of US$49.4b for the financial year ending June 2023 (FY23), an increase of 14.2% in local currency (9.3% in US dollars).

Rachel Lloyd

Europe Long-Term Value and Corporate Governance Survey

Boards must lead a decisive sustainability agenda or face a constrained future, finds the EY Europe Long-Term Value and Corporate Governance Survey. Read more.

Julie Teigland + 1

    EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.