Environmental
Our commitment to sustainability
We’re committed to supporting our clients in their transition to a low-carbon economy. This is our biggest opportunity to improve outcomes for our economy, people and the environment. Showing leadership in our own ESG practices enables us to show up to these conversations authentically.
So, at Deloitte New Zealand, we’ve put sustainability at the heart of our operations by embedding it into our policies, practices, and actions. We’re committed to Net Zero operations by 2025, and we’re empowering individuals to make smarter choices. We’re also making improvements at a systems level through collaborations like the Sustainable Business Council and Climate Leaders Coalition.
Our sustainability-linked loan underpins our commitments, by incorporating goals based on travel emissions reductions, transition to renewable energy and gender diversity targets. Refer to the “Sustainable investment for the future” article in the governance section to learn more about how we are tracking.
Though our focus is squarely on reducing gross emissions, offsetting supports our decarbonisation journey. Deloitte invests in high-quality offsets for emissions we cannot avoid. For FY23, we purchased Renewable Electricity Certificates to inset emissions attributed to the non-renewable portion of our electricity, and we offset our residual emissions via Climate Impact Partners - investing in a verified Nature Conservation Portfolio that supports all 17 Sustainable Development Goals.
Though our goals are ambitious, we’re taking positive steps and are aligned with WorldClimate – Deloitte’s strategy to drive responsible climate choices.
At Deloitte, our purpose is to make an impact that matters with our clients, our communities and our people. We aim to accelerate our impact towards a more equitable and sustainable world by providing solutions that help create a better future for all.
We accept our shared responsibility as kaitiaki, or guardians, of our natural environment. We practice arataki, committed to creating opportunity and leading the way to a more sustainable world. Our focus is on supporting our clients to navigate complex challenges as they transition to a low-carbon economy with solutions that help them stay resilient, fit for purpose, and able to explore the possibilities of a future economy with people and nature at its centre.
Our people are empowered to act on climate change. This includes our internal efforts towards net zero, our efforts to embed sustainability in our operations and our work to engage our ecosystems. We are guided by our Global WorldClimate strategy, which aligns with the United Nations Sustainable Development Goal 13 to act on climate change and the Paris Agreement under a 1.5°C scenario. Our strategy and supporting plan centres on further changing behaviours within our organisation and among those we influence to make positive climate choices.
Toward better decisions in our operational sustainability
We’re transforming our operations to meet our science-based net zero goals. Deloitte New Zealand has already cut operational (scope 1 and 2) greenhouse gas emissions by 20% and reduced business travel emissions by 34% since FY19, but we know we’ve got much more to do.
Our commitment is underpinned by the Deloitte Global near-term 2030 greenhouse gas reduction goals, validated as aligned with the 1.5°C pathway by the Science Based Targets initiative (SBTi). New Zealand aims to accelerate these goals to 2025. We have also pledged to establish long-term emissions reduction goals following SBTi’s Net Zero Standard.
We're making climate-smart real estate choices. Our new Deloitte Albany office (Auckland) is the North Shore's first five-star Green Star building. Energy consumption is monitored in real time via a custom-designed building management system. A rooftop collection system syphons rainwater into an underground tank to be used in the bathrooms and to irrigate the atrium and grounds – in which almost all the plants are natives. One Queen Street, on Auckland's waterfront, is due for completion in FY24 and will become the new home of our Auckland CBD office. This building is designed to be a six Green Star-rated office building.
We're working towards 100% renewable electricity in all our buildings by 2025. To help us do this, we switched our national tenancy electricity provider to Ecotricity, which supplies 100% carbon-zero certified energy. We are practising our mahi tahi, collaborating with our landlords and property managers to influence the energy sources in our shared spaces.
Another of our WorldClimate goals is to be zero-waste by 2030. Short-term goals include eliminating avoidable single-use plastic and having our significant events be carbon neutral and zero waste by 2025. We also continue to reduce paper use and recycle batteries, soft plastics and organics in our larger offices. Our internal staff green team 'The Planeteers' shares news and encourages each other with various sustainability challenges throughout the year.
Across multiple levels, we're striving towards making our workplaces environmentally conscious, and we bring these goals into our day-to-day operations.
Our 2025 targets:
- 50% reduction per FTE in travel emissions from a 2019 baseline.
- 70% reduction in Scope 1 and 2 GHG emissions from a 2019 baseline.
- Move to 100% renewable electricity.
- Engage our major suppliers with the goal of having 67% (by emissions) set science-based targets.
- Invest in meaningful market solutions for emissions we can’t eliminate.
Pursuing Sustainable Development Goals with Ecountable
In 2015, the United Nations set forth the ambitious Sustainable Development Goals (SDGs). The SDGs present a universal call to action aimed at eradicating poverty, protecting the environment, and seeking peace and prosperity by 2030.
Making this vision a reality requires active involvement and strong commitment from all. At Deloitte New Zealand and across the Deloitte network, we recognise the urgency for all stakeholders to work together towards these goals.
In pursuit of sustainability, numerous organisations are incorporating (or planning to incorporate) sustainability reporting. For social and environmental initiatives, organisations must embrace clear reporting and management of sustainability-related metrics. Leaders must also be empowered to gain a comprehensive understanding of how their projects, operations and risk management contribute to the overall sustainability goals of the organisation.
One solution a team in our ServiceNow practice co-designed with a client is the Ecountable application. Ecountable is a robust, efficient platform for organisations to ideate and measure their sustainability efforts against the SDGs. The tool facilitates goal creation through to completion; it consolidates relevant information into a singular platform and can pull data from existing ServiceNow systems. Its engaging framework helps organisations stay committed to their goals by streamlining the process and increasing goal visibility across the organisation.
Ecountable is now being trialled by other clients like the University of Northumbria (UK), which has expressed interest in utilising the tool across various departments and student groups. For this use case, we've added more interactive features to help facilitate engagement between students, staff and management. The invaluable feedback received from the university so far will play an instrumental part in identifying opportunities to further enhance the tool.
Find out more about Ecountable on the ServiceNow Store.
Banking on Natural Capital
Nature is a fundamental yet underappreciated part of the economy and human wellbeing. But what if we valued it differently? As climate change progresses, the business case for investing in nature is more vital than ever before. Our existence depends on it.
Deloitte is a TNFD (Task Force for Nature Related Financial Disclosures) member, shaping the global framework and guiding clients on their nature transition. We’ve released eminence reports on nature in partnership with WWF, Rabobank and the World Economic Forum.
Our Banking on Natural Capital publication further outlines the economic case for investing in natural assets, building on the foundation of the carbon market, and growing sustainable finance and payments for ecosystem services.
The publication includes the results of surveys and interviews that Deloitte conducted with more than 20 global organisations in the financial services industry. It shows what investing in nature looks like and how the ecological deficit can be addressed through sustainable management, restoration of natural capital assets and committing resources towards conservation.
In Aotearoa NZ, Deloitte helps clients create future-positive strategies and incorporate TNFD into their organisations. We support our clients as they further their understanding of how te taiao (the environment) impacts and is impacted by their business and operations. At the heart of this is helping our clients develop a positive relationship with nature, where nature is valued, where te ao Māori and knowledge of te taiao are embedded in preserving our unique flora and fauna.
Turning point
Decisive action on climate change could add $64 billion to New Zealand’s economy by 2050. But inadequate action could cost us $4.4 billion.
That’s one of the key propositions in Deloitte’s Turning Point report, released in March 2023. The report uses Deloitte’s bespoke D.CLIMATE model to compare what could happen if the planet warms by 3°C against the economic opportunity if global warming is limited to around 1.5°C.
This report shows that the case is clear: it’s time to take decisive, practical action on climate change.
Find out more about Deloitte’s Turning Point report.
CxO Sustainability Report
Over the last year, global executives have faced a number of challenges, including economic uncertainty, geopolitical conflict, extreme weather events, supply chain disruptions, and talent shortages. Despite these headwinds, concern over climate change continues to be a top priority for C-Suite leaders and their organisations.
Deloitte’s 2023 CxO Sustainability Report draws on surveys from more than 2,000 Chief Experience Officers (CxOs) across 24 countries. The survey found that the majority of CxOs remain optimistic the world will take sufficient steps to avoid the worst impacts of climate change and feel a sense of urgency to take action.
When asked to rank the issues most pressing to their organisations, many CxOs rated climate change as a “top three issue” ahead of seven others including innovation, competition for talent, and supply chain challenges. In fact, only economic outlook ranked slightly higher. Sixty one percent of CxOs said climate change will have a high/very high impact on their organisation’s strategy and operations over the next three years.
Our 2023 report shows that CxOs believe that both their organisations and the global economy can continue to grow while reaching climate goals and reducing greenhouse gas emissions.
In FY24 we will create a set of New Zealand-focused insights, which will form the basis of a series of workshops based around supporting CxOs in Aotearoa.
Download the 2023 CxO Sustainability Report to explore how leaders can close the gap between ambition and impact, break through barriers to greater action, and start to balance the near-term costs of climate initiatives with the long-term benefits.
One Young World and Butterfly Fish Foundation
At Deloitte, we have a responsibility to be a force for good and help lead the way on the increasingly complex challenges society faces today. Our mahi tahi mission – collaborating for measurable impact – is vital to this.
One way we do this is through our partnership with One Young World; an annual, not-for-profit summit which brings together over 2,000 of the brightest young leaders worldwide.
A once-in-a-lifetime opportunity, it aims to empower and inspire young leaders to create a positive impact, challenge their thinking, develop leadership skills, and build global networks.
Last year, Deloitte Associate Director in Corporate Finance, Amy Sparks attended One Young World. Amy was particularly inspired by the summit’s focus on our oceans. She has a personal connection to the ocean after spending much of her childhood snorkelling in Samoa.
It was clear to Amy that the health of our oceans has been side-lined despite their importance for both the climate and human wellbeing. Inspired to do more, Amy founded the Butterfly Fish Foundation along with a fellow colleague, Jack Kendall.
The foundation aims to raise awareness of our oceans' plight and mobilise collaborative and well-coordinated action. Connecting the private sector with the oceans is a large part of the Butterfly Fish Foundation's purpose. They’re already having an impact – the foundation has done work for a global NGO and run an exploratory workshop alongside two prominent organisations in New Zealand. Butterfly Fish Foundation will be seeking charitable status soon.
The foundation and Amy’s dedication to mahi tahi is just one of many examples of how our people leverage their professional skills and opportunities in their personal lives, too, making an impact every day.
