Business Focus
Net Zero by 2030: Be the Change with PwC By Callum Douglas, Corporate Sustainability Director, PwC China Only immediate, robust and largescale greenhouse gas (GHG) emissions reductions can slow down the accelerating pace of climate change impacts currently and in the future. While we can no longer avoid climate change - its impacts are now being experienced worldwide - there is a chance to limit the risks to manageable levels within the next decade with swift and ambitious action. Net zero and carbon neutral commitments have been rapidly growing, providing
38 − Business Focus
some hope in the face of ever-growing urgent signs that climate change is speeding up and bringing with it a whole range of negative impacts. “30·60” is now a major focus in China. The country is committed to hit peak emissions before 2030 and carbon neutrality by 2060. China’s ambition will require companies to act now to transform to a lowercarbon business model. PwC’s research report with UNDP China revealed that Climate Action (SDG 13) is now ranked as the 4th highest impacting Chinese enterprises, including bringing business opportunities, over the next five years. At PwC, we believe the business community has a key role to play in making that happen. That is why we have made a worldwide sciencebased commitment to reach net zero greenhouse gas emissions by 2030.
The commitment includes supporting our clients to reduce their emissions as well as reducing those from PwC’s operations and suppliers. In July 2021, the Science Based Targets initiative (SBTi) validated PwC’s targets to reduce GHG emissions by 50% in absolute terms from 2019 levels by 2030 in line with a 1.5 degree scenario. Importantly, PwC’s targets go beyond scopes 1 and 2 emissions to include PwC’s largest indirect scope 3 emissions. Transforming to net zero will require businesses to develop and deliver research, guidance and implementable roadmaps. Many board of directors are now leading in transforming their business model towards net zero, including factoring in ESG considerations into key business decisions like venturing into new markets and new products.
