Emissions rebounded.
When COVID-19 restrictions led to a record drop in global carbon emissions, the world saw the difference a collective change in behavior can make for the environment.
However, when restrictions eased, emissions rebounded. And the temporary reduction in emissions wasn’t enough to slow the rise in extreme weather events and other impacts of climate change. Globally, the calls for immediate action on climate became more urgent.
Deloitte’s ambition is to help lead the world’s transition to a lower-carbon future. And over the past year, Deloitte has shown that we have the scale, knowledge and resources to turn this ambition into meaningful, measurable action.
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Deloitte also engages with like-minded organizations and initiatives across our ecosystem, such as the Sustainable Aviation Buyers Alliance, to inspire action, increase demand for sustainable products and services, and develop solutions.
While Deloitte’s air travel remains significantly below pre-pandemic levels, further reducing travel-related carbon emissions is an important part of our WorldClimate strategy. Deloitte US entered into Sustainable Aviation Fuel (SAF) agreements with several airlines to help achieve carbon reductions, and is among the first organizations to account for SAF purchases in their impact reporting. Deloitte is also helping to accelerate SAF usage through our involvement in WEF’s Clean Skies for Tomorrow Coalition and First Movers’ Coalition, as well as advancing climate action more broadly through WEF’s Alliance of CEO Climate Leaders.
Advancing responsible climate choices
Recognizing the necessity of collective action to effectively tackle the climate crisis, Deloitte worked to advance our WorldClimate strategy, which consists of a three-pronged approach—actions we take, actions we inspire our people to take, and actions we take with clients and others in our ecosystem.
Deloitte has committed to achieving science-based net-zero emissions and we currently have a 1.5⁰ C near-term (2030) goal in place, validated by the Science Based Targets initiative. We are embedding sustainability into policies and practices throughout the organization and measuring performance against our goals.
In addition, we continue to make strong progress in realizing our commitments to all three core initiatives of the Climate Group supporting the advancement of renewable electricity (RE100), electric vehicle adoption (EV100) and energy efficiency/productivity (EP100). For instance, 91 percent of the energy Deloitte purchased in FY2022 was renewable energy. Along with Deloitte’s own operations, we are also reviewing our global supply chains more closely to help ensure procurement sustainability. We are working to quantify Deloitte emissions across our organization’s entire supply chain.
As we translate our ambition into action, we also continue to examine environmental issues more widely—for example, looking at our impact on nature and biodiversity, as well as our carbon footprint. Biodiversity is critical to the health of the planet, and while our organization’s direct impacts in this area are limited, Deloitte supports nature-positive solutions and will assess impacts throughout our value chain.
Deloitte is also working with Indigenous peoples in Australia, Asia and Canada, among other geographies, to advance nature-based climate solutions. We recognize the importance of collaborating with these communities to honor their knowledge and to support Indigenous-led climate solutions. In addition, Deloitte has published insights into environmental issues impacting Indigenous peoples, including When day comes, a report on reframing the relationship between the mining industry and Australia’s First Peoples.
Deloitte is empowering our people to be more intentional about where, when and how we travel. Making smarter travel choices, along with leveraging technology to hold many meetings virtually, will help us meet our WorldClimate commitment.
Guiding clients’ sustainability journeys
This year our organization significantly expanded and invested in Deloitte Sustainability & Climate, a practice serving clients globally as they define their paths to a more sustainable future. Building upon decades of climate client service, Deloitte has assembled one of the largest global networks of sustainability experience, including an investment of US$1 billion in client-related services, data-driven research, and assets and capabilities.
Over the past year, Deloitte practitioners have supported clients around the world as they created transformation plans; redefined business strategies to incorporate ESG; embedded sustainability into operations; met tax, disclosure and regulatory requirements; and established collaborations across their ecosystems.
In addition, we launched the Deloitte Center for Sustainable Progress (DCSP) to help accelerate transformation of clients’ organizations and value chains. The DCSP provides results-oriented insights and analysis that draw upon Deloitte’s experience and global network, including acting as a convenor of specialists, industry influencers and thought leaders from around the world. Our recent report, The Turning Point, offers a detailed exploration of how letting climate change go unchecked could cost the global economy US$178 trillion over the next 50 years—though conversely, it could gain US$43 trillion over the same time period by rapidly accelerating the transition to net-zero.
Commitment to science-based net-zero
2030 goals
Commitment to science-based net-zero
More details on this data can be located at www.deloitte.com
