Reporting Period
Our analysis relates to financial year 2023, from 1 July 2022 to 30 June 2023 (called “FY23”, standing for “Financial Year” 2023).
Scope of the Reporting
This report covers all Ernst & Young Luxembourg’s activities.
In this report, we refer to the EY Luxembourg Office as Ernst & Young Luxembourg, "the company", “EY” or "we". The reporting scope used for sustainability reporting is identical to the scope used for the consolidated financial statements.
Application of European Financial Reporting Advisory Group (EFRAG) – Sustainability Standards Reference System
This report is inspired by the EFRAG Sector Agnostic Standards of the EU Sustainability Reporting Standards (ESRS), including General principles (ESRS 1), and General, strategy, governance and materiality assessment (ESRS 2).
Materiality analysis and scope of aspects
Based on the EY Global materiality analysis, adapted for EY Luxembourg, we identified the material aspects according to the Global Reporting Initiative (GRI) designation. All aspects selected are relevant to EY Luxembourg.
Moreover, we enhanced the materiality analysis, presented in the FY21 and FY22 Sustainability Reports, leveraging on the EU Sustainability Reporting Standards (ESRS), adopted in July 2023.
EY Luxembourg has started the preparatory journey towards CSRD alignment to be compliant starting from FY25 as per the regulatory requirements for large companies.
The current report is prepared on a best effort basis, taking into consideration market practices and available draft reporting standards.
In case of material changes to EY Luxembourg’s materiality analysis, they would be promptly communicated.
Reporting organization
The collection and disclosures of the ESG KPIs included in the EY Luxembourg Sustainability Report is centralized annually for the purposes of this report.
We established an internal process for the preparation of the report. The EY Luxembourg Sustainability Team interacts on a regular basis with identified data owners in order to collect the necessary ESG KPIs disclosed in this Report:
- human resources-related data is obtained from our Human Resources department;
- societal data is obtained from our department for Business Development department;
- data on energy and paper consumption is obtained from our Facility Management department;
- data on business travel comes from our travel agency.
The EY Luxembourg Sustainability Team oversees the data collection process and reviews the information received from each data owner.
For the reporting of greenhouse gas emissions, the conversion factors were standardized at EY Global level.
The various sources of emissions are recorded as follows:
- Scope 1: CO2 emission from company vehicles
- Scope 2: CHG emissions currently calculated from purchased electricity.
- Scope 3: We disclose CHG emissions from company business flights and business rail journeys. The measurement and reporting of the greenhouse emissions has been done using the guidelines, protocols and conversion factors by:
- WRI / WBCSD The Greenhouse Gas Protocol: Technical Guidance for Calculating Scope 3 Emissions, 2013
- UK Government Conversion Factors for Company Reporting (Year: 2023, Expiry: June 2024)
Whilst we have used the GHG Protocol Value Chain (Scope 3) Standard (see above), we are not yet able to report on all relevant categories. However, we have reported on those which we believe to be most relevant and material to our overall environmental impacts and carbon footprint.
This Report is subjected to quality review and controls, both from the EY Luxembourg Sustainability Team and from other stakeholders involved such as the Risk Management team and Country Leadership Committee.