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As interest in ESG issues is accelerating, we are seeing a fundamental shift in the way in which businesses operate and how their corporate agendas are shaped. Once the responsibility of a single department, sustainability now touches every part of a business. PwC analysis has found that 60% of CEOs believe that environmental, social and governance (ESG) issues will be a long-term investment priority over the next three years.
Tax within the ESG landscape is key to shaping how government can incentivise businesses to meet sustainability goals in the long-term and progress towards net-zero and a greener future. Tax as an ESG metric can bring value to the business and enhance a company’s reputation.
||How we can help
Being invested in ways that not only generate returns here and now, but also create sustainable value for the future. Tax, Legal and People play a key role in ensuring that the business is sustainable and will bring long-term value - a value that lasts and has a positive societal impact.
Building trust begins by establishing a clear picture of where you are today and making sure you have the information that stakeholders now expect from you. The world changes at an incredible pace and our team of specialists have the experience of filtering out the noise. In a world where ESG is a significant source of potential value, reporting and assurance is fundamental to success.
From your tax strategy to the cultural shift with your people & organisation, we’ll help you define the path that leads to success, making ESG fundamental and a way of creating value in every part of your organisation and the way you do business.
Fairness must be central to any transformation - and Tax, Legal and People will help you maximise your positive impact, by putting fairness at the heart of your transformation. We can help you see how you can move from acceptable to best in class - and how you can make sure your values and purpose are embedded across your own workforce and throughout the wider supply chain.
ESG initiatives go beyond just doing the right thing. They can improve society’s perceptions of the company, build competitive positioning, and increase market value. A well-executed and well-communicated ESG strategy can create intrinsic value by appropriately managing key risks and cultivating opportunities. If a company is transparent about how it is addressing stakeholder ESG interests, market value can increase over time.
We can support businesses and policymakers by offering solutions and advice on the following key areas:
Developing, improving and unpacking every aspect of fiscal and tax policy to achieve improved economic growth. This includes raising revenues, better public spending and enhancing the business climate.
Ensuring Purpose and ESG strategy is fully embedded across, executive and workforce incentives and recognition, culture and behaviours, the employee offering, recruitment brand, new ways of working, diversity & inclusion, gender and executive pay gap, and pension offerings.
Advice to ensure you are benefiting from the full range of green grants, reliefs and credits available, including Research and development (R&D) tax credit and patent box.
Support with understanding the scope of new and existing taxes, how they affect the business, assist with business development and implementation of systems and controls necessary for compliance and help bridge gaps between sustainability, operational and commercial teams.
Support with a number of reporting frameworks (Global Reporting Initiative 207 - Tax, World Economic Forum’s International Business Council, Total Tax Contribution - TTC, Tax Control Framework and Tax Strategy), tax rate and transparency benchmarking, collection of the TTC data and reasonableness review. Download our recent flyer on TCFD and Tax in the link shown above.
Our team provides commercial and market-focussed advice to businesses in a range of sectors, including in particular manufacturing businesses, energy and waste companies, oil and gas operators and construction companies.