EY announces it will be carbon neutral by end of 2020

EY has announced plans to be carbon neutral by the end of 2020, by both reducing and offsetting its carbon emissions.

If it achieves its ambitions, EY will be the first ‘Big Four’ professional services network to be carbon neutral and is already the first top announce such plans.

To achieve this, EY will focus on areas including reducing travel emissions, sustainable procurement practices and purchasing more renewable energy to power EY offices. It will also purchase carbon credits to offset the EY carbon footprint and invest in projects that reduce carbon emissions or remove carbon from the atmosphere, for example reforestation projects.

Steve Varley, EY global vice chair – sustainability-elect and EY UK chairman, said: “EY has the potential to become a world leader in sustainable business and becoming carbon neutral is an important step toward making that a reality. By supporting a culture of disruptive innovation, EY can find creative solutions that address global environmental challenges and drive growth that is truly sustainable. EY people are a driving force behind our focus on the environment and have sent a clear message that we must work together to build a more sustainable and better working world for EY clients and communities.”

EY US has already entered into a Virtual Power Purchase Agreement (VPPA) to finance and construct two large scale Texas wind farms to become fully renewable in 2020 and EY UK is currently in the process of contracting directly with a solar farm developer and seeking to sign a 10-year agreement for all of its UK power demand.

In terms of offsetting, EY in India has planted one million trees since 2010 and in a number of countries, including in Costa Rica, EY has already achieved carbon neutrality.

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