Part of our approach to being a responsible business is challenging ourselves to keep raising the bar on quality and ethics and to hold ourselves to account for the way we work. You can find out about more about this on our quality and ethics and supply chain pages.
As a professional services provider, we’re uniquely placed to help organisations across the globe reduce risk, seize opportunity and become more sustainable through the many services we provide every day. So, we invest in know-how that will transform the way organisations operate, bringing to market new ideas, practices and technologies that can help address the social and environmental issues inherent in the megatrends. These take a number of forms, including:
With a global network of 700 people and a team of more than 100 specialists in the UK, we’re a leading advisor on sustainability, climate change and green growth. For details on the services we offer clients, see our Sustainability and Climate Change website.
We’re engaging in the debate about what ‘responsible business’ looks like. Below are some examples.
We’ve continued to invest in our Megatrends programme, evolving our analysis to the interactions - or ‘collisions’ - between the megatrends, and what they mean for business. This year we launched our campaign on the sharing economy, looking at the key sectors and the estimating the revenue opportunity for the UK. We also launched our My Life, Connected campaign which highlights the collision between changing demographic and social patterns and technological breakthroughs.
We’ve always supported measures to improve tax transparency and maintain an efficient and effective fiscal system. An important part of being a market leader is facilitating debate. This year we extended our ‘Paying for Tomorrow’ tax reform campaign to explore how the UK tax system could be reformed, engaging with stakeholders through a citizen’s jury to explore intergenerational equality.
As stakeholders look for wider indicators of value to complement financial accounting, we continue to explore innovative ways to measure environmental and social impact. During the year, we refined our proprietary Total Impact Measurement & Management (TIMM) framework, applying it to our own business, and with clients in a range of industries.
We’ve collaborated with some of the world’s leading organisations in the technical development and launch of the Natural Capital Protocol, which aims to support better business decisions through a standardised framework to identify, measure, and value impacts and dependencies on natural. As part of this we submitted our methodologies – which are available online – to help inform the protocol.
We remain the leading assurer of sustainability data among the FTSE 100 companies, and also provide assurance to public sector clients. And, we continue to be proactive contributors organisations such as the International Integrated Reporting Council and Accounting for Sustainability.
Our audit practice is a vital part of our business, and continues to play a critical role in maintaining trust in the capital markets. But investors and other stakeholders are looking for broader perspectives into how organisations create value, and today’s assurance model doesn’t always fit with reporting approaches for less mature, non-financial information.
We’ve developed a concept which allows assurers to apply their expertise and professional judgement in a different way, providing more subjective insight. It gives an indication of the maturity of the data, and the processes and controls in place for it, so that stakeholders can decide for themselves how much reliance to place on data reported. This year, we worked with the Crown Estate to use the concept for the second time in their 2016 Total Contribution report.
Head of Corporate Sustainability, PwC United Kingdom
Tel: +44 (0)20 7213 2435