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.
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Climate change is one of the defining issues faced by modern society. We face significant human-made changes to the climate. We know that action is urgently needed if we are to protect the planet for future generations. EY is tackling this pressing issue by setting specific objectives.
In 2024, to achieve our target of reducing Co2 emissions generated by business travel, we implemented a dashboard which allows us to analyze the CO2 emissions from past business trips from various perspectives, to understand the reality of our business travel, and to set emission caps and carry out emission planning, as we did in the previous fiscal year. Through detailed budget versus actual management, we have achieved 30% reduction compared to FY19, even in the current fiscal period where the COVID-19 pandemic has subsided, and despite the number of employees having increased by 1.7 times since FY19.
EY has also begun working to obtain LEED*1 green building certification for its office buildings. The new Stockholm and New York offices opened in 2021 are rated LEED Platinum and Gold, respectively. We are working to have all EY offices powered by 100% renewable energy by 2025.
- Maintaining plan to reach net zero
We aim to reduce Co2 emissions in line with Science Based Targets (SBT)*2 to achieve net zero*3 by 2025. - Renewable energy usage in EY offices: 86.1%
To reach 100% renewable energy usage in EY offices by FY25, we are measuring and analyzing electricity, water, gas and heating usage at our offices and data centers in each region, as well as business travel Co2 emissions, and advancing plans to reduce both annual usage and emissions.
Reducing business travel CO2 emissions
(by FY25 compared to FY19 baseline)
- Carry out budget versus actual planning and quarterly management of Co2 emissions from business travel
- Operate STAT, a tool for calculating Co2 emissions from business travel
Circular office
- Targeting an 80% recycling rate for paper and general waste in Tokyo office by FY24 (FY24 result: 77%)
- 100% furniture recycling rate at Tokyo office (achieved in FY23)
Green procurement
- Requiring 75% of EY suppliers, by spend, to set SBT by FY25 (FY24 target rate: 62%)
*1 LEED: Leadership in Energy and Environmental Design is a green rating system for built environments (buildings and cityscapes), developed and operated by the NPO U.S. Green Building Council (USGBC) and reviewed by Green Business Certification Inc. (GBCI) for certification.
*2 Science Based Targets (SBT): Targets to reduce greenhouse gas emissions. Aims to reduce Co2 emissions by organizations based on climate science, in line with the goals of the Paris Agreement and limit the global temperature rise to 1.5°C above pre-industrial levels.
*3 Net zero: The point at which an organization has achieved the SBT 1.5˚C target as well as removing its residual emissions from the atmosphere.
Press release
EY reports global revenue of US$51.2b for fiscal year 2024
LONDON, 17 OCTOBER 2024. The global EY organization (EY) today announces combined global revenues of US$51.2b for the financial year ending June 2024 (FY24), an increase of 3.9% in local currency.
17 Oct 2024
Rachel Lloyd
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