November 4, 2022
It’s clear we’ve reached a turning point globally on the imperative of ESG. It’s no longer just a consideration for governments and businesses to address, instead it’s gone much further, making its way into every aspect of our lives. As PwC in the Caribbean continues the roll out of ‘The New Equation’ – its strategy to help clients build trust and deliver sustained outcomes – the strategy identifies ESG as critical to answering the defining challenges for global business and commits PwC to supporting the transformation needed in the global economy.
On Monday, 24 October PwC in the Caribbean launched its inaugural ESG Week aimed at educating and upskilling our partners and people. Also this month, PwC in the Caribbean hosted a webcast for business and government leaders throughout the region on the topic: ESG and Net Zero: Securing a sustainable future for the Caribbean.
Kevin Cambridge, Partner and ESG Coordinator for PwC in the Caribbean, said, “ESG Week was a testimonial of PwC’s commitment to take bold steps on Environmental, Social and Governance issues to create value for our clients in the region. The wealth of information shared during the week was focused on helping businesses in their own journeys of evaluating risks and opportunities while nurturing an environment that will foster an ESG culture to transform theory into action.”
He added: “This year PwC in the Caribbean released our Corporate Governance Survey 2022: Picking up the pace, which explored governance and ESG matters among directors. As ESG moves up the strategic agenda, our survey finds more than 60% of corporate directors in the Caribbean region say ESG issues are at least somewhat linked to their business strategy and acknowledge its financial impact. However, less than 20% of directors say their board has a defined process for ESG oversight.
Failing to tackle climate change, is failing our environment and communities for generations to come. It’s with that background that last year PwC announced it received validation for its science-based targets and reaffirmed its commitment to achieve net zero greenhouse gas (GHG) emissions by 2030.
The Science Based Targets initiative (SBTi) validated PwC’s targets to reduce greenhouse gas emissions by 50% in absolute terms from 2019 levels by 2030 in line with a 1.5 degree scenario.
● PwC’s targets go beyond scope 1 & 2 emissions to include PwC’s largest indirect scope 3 emissions.
● PwC commits to decarbonising the way it operates and decoupling its business growth from emissions.
Gerry Mahon, Partner and Net Zero leader for PwC in the Caribbean, commented, “Like our clients, we need to build trust with our stakeholders and deliver sustained outcomes – and tackling our climate impact is critical to both. We’re proud of the progress PwC has made to reduce our operational carbon footprint and with initiatives like ESG Week, we can continue to support the creation of a sustainable tomorrow for generations to come. No one individual, organisation or government can tackle these problems alone. We need collective awareness and action to create change.”
