How Consulting Giant PwC is Tackling Supply Chain Emissions
A member of the consulting 'Big Four', PwC is navigating complex economic landscapes while maintaining a steadfast commitment to technological innovation and sustainability across its global supply chain operations.
The professional services giant continues to demonstrated remarkable resilience and strategic vision, as is documented in its 2024 Global Annual Review.
Navigating economic complexities
PwC saw its global revenue increase by 3.7% in 2024, reaching US$55.4bn.
However, significant regional variations highlight the intricate nature of international business environments.
Europe, Middle East and Africa (EMEA) led with an impressive 8.6% revenue increase, while Central and Eastern Europe grew by 5.5%. The Americas saw a 3.4% expansion, with the United States contributing 2.9% to this growth.
Conversely, Asia-Pacific experienced a 5.6% decline, underscoring the complex global economic landscape, reflecting challenges in this market.
With more than 180,000 clients across 149 countries, including 86% of the Fortune Global 500, PwC's expansive network of 370,000 employees provides a robust foundation for strategic growth and innovation.
Sustainability: A strategic supply chain imperative
PwC's commitment to sustainability extends far beyond rhetorical promises, with concrete strategies targeting comprehensive emissions reduction.
The firm's Network Environment Report for 2024 outlines ambitious goals for achieving net-zero greenhouse gas emissions, supported by science-based targets validated by the Science Based Targets initiative (SBTi).
This includes reducing direct emissions (Scope 1 and Scope 2) by 73% compared to a 2019 baseline.
Business travel, accounting for 48% of the company's total emissions in 2024, has been a particular focus. PwC has implemented sophisticated strategies to minimise environmental impact, including optimising flight selections, leveraging local resources and promoting hybrid meeting configurations. These efforts resulted in a 5% reduction in business travel emissions compared to the previous year and a 14% decrease from 2019 levels.
The firm's sustainability approach also encompasses its supply chain, with PwC actively engaging suppliers to adopt science-based emissions targets. Despite ongoing challenges, with less than 10% of suppliers having validated these targets, the company remains committed to driving systemic change.
"We remain committed to a sustainable future," affirms Mohamed Kande, Global Chairman at PwC.
"That’s why sustainability is at the heart of our global strategy. "We are not just adapting to change; we are driving it. Together, we can and will make a difference."
How PwC Malta addresses Scope 3
As indicated, PwC is also focused on tackling Scope 3 emissions – those produced both upstream and downstream in its value chain.
Business travel is particularly essential to the firm's branch in Malta, an island with no direct land connection to mainland Europe, but represents the largest controlled emissions source.
It accounted for 48% of PwC Malta's total Scope 1, 2 and 3 emissions in FY24, taking into account flights and land-based travel such as taxis and trains, as well as accommodation related to work trips.
In response, PwC Malta has committed to travelling “smarter” and “less.”
Spend managers ensure trips are more productive by selecting efficient flight classes and engaging clients early, helping to reduce the need for frequent travel.
Prioritising virtual meetings and adopting hybrid setups that balance in-person and remote participation have also contributed significantly, leading to a 5% reduction in business travel emissions compared to the previous year and a 14% reduction since 2019.
Like the wider organisation, PwC Malta is also addressing emissions from purchased goods and services by encouraging suppliers to adopt science-based targets. This can prove challenging when working with local suppliers due to their limited resources, but the branch remains committed to ensuring half of its suppliers eventually reach emissions targets aligned with its net-zero commitment.
"The urgency of a net-zero transition is clear and demands our collective action," adds Romina Soler, Net Zero Leader at PwC Malta. "At PwC, our mission is to not only lead by example but also empower our clients to navigate the intricacies of the path towards a more sustainable future.
"Working together, we can transform challenges into opportunities and pave the way for businesses to thrive without compromising the opportunities of tomorrow."
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