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EY: annual report 'Value Realized’ on progress toward measuring global impact
- For the first time, the EY organization reports against the World Economic Forum-International Business Council (WEF-IBC) Stakeholder Capitalism Metrics to demonstrate progress on plans for increased transparency
- New report reveals 60% reduction in carbon emissions across the EY organization and introduction of the EY Global Human Rights Statement
- EY people positively impacted 20m lives in FY21 through 837,000 community service hours
- 18m hours of training invested in EY people and first cohort of EY Tech MBA graduates
EY Value Realized also demonstrates how the integration of environmental, social and governance (ESG) standards into business strategy is leading to transformation across the EY organization and, for the first time, EY reports against the World Economic Forum-International Business Council (WEF-IBC) Stakeholder Capitalism Metrics.
The WEF-IBC Stakeholder Capitalism Metrics include 21 ESG disclosures, against which companies and organizations can report, spanning four key areas; Principles of Governance, the Planet, and People and Prosperity aligned to the United Nations Sustainable Development Goals (UN SDGs). As a member of the WEF-IBC, EY contributed to the collaborative effort of bringing a private sector voice to the importance of addressing ESG issues for long-term success, and reporting progress in a consistent way that can be compared against substantive benchmarks.
Reporting on the WEF-IBC metrics, alongside other strategic key performance indicators, highlights progress across the EY organization in FY21 toward creating and protecting long-term value for all stakeholders, including:
- 60% reduction in emissions
- 36% of new partner promotions were women
- 59 hours of training delivered on average per employee, totaling 18m hours of training across the organization
- 20m lives positively impacted through corporate social responsibility program, EY Ripples
- 200k EY Badges (digital skills credentials offered to EY people) completed by FY22 and 200 Tech MBAS by FY22
- Ambition to achieve net zero by FY25
- Commitment to positively impact 1b lives by FY30
- Investments of $US10b over the next three years on audit quality, strategy, technology and people
Carmine Di Sibio, EY Global Chairman and CEO, says:
“Businesses should create value for all their stakeholders, as well as their shareholders. This has been demonstrated through EY carbon reduction ambitions, the training and experiences that EY people are offered, and EY Ripples, the corporate responsibility program that has positively impacted the lives of millions of people around the world.
“The EY organization is committed to measuring this progress, increasing transparency, and integrating ESG metrics into overall strategy. So, in addition to reporting on the EY NextWave strategy, this year the EY organization is proud to also report on progress against the WEF-IBC Stakeholder Capitalism Metrics. Integrating ESG helps to align organizations more closely to society’s goals, making them more valuable and viable over the long-term.”
The focus on stakeholder capitalism is the bedrock of the EY NextWave strategy, through which all 312k EY people will contribute to helping create and protect long-term value for EY people, society and clients.
EY Value Realized is an important step on a journey toward quantifying the impact of the organization on the environment, society and other stakeholders. EY remains committed to advancing efforts to develop strategies that measure the long-term value creation across the organization and for EY clients.
Looking ahead, EY will continue to work alongside clients, peers, other mission-driven organizations and the public sector to help find solutions to key global issues, including helping to facilitate a global recovery to the pandemic; creating a just transition to a low carbon future; addressing social equity and income inequality; fostering confidence and trust in the world’s capital markets; and supporting clients as they transform.
The EY Value Realized report can be downloaded here or accessed at ey.com/valuerealized
Article Source: Website Newsroom