Financial success is underpinned by operating our network responsibly and doing the right thing. But shared success comes when we look beyond operational impact and financial outcomes to the positive impact we can have on the world around us.
What businesses face today is not a new challenge, but a new world. As evidenced in PwC’s 20th Annual Global CEO Survey, business leaders are defining success in terms beyond financial profit, with 86% citing the importance of accounting for wider stakeholder expectations.
Creating value for clients, people and communities is at the heart of the PwC network. Guided by our purpose, to build trust in society and solve important problems, the greatest impact we have in society is through the work we do every day. But our efforts don’t stop there. We also choose to extend our network’s impact by investing in change where we can bring our skills and expertise to bear on some of the world’s most important problems.
Community investments focus on ‘Maximising Potential’– of individuals through education, of social enterprises and of the NGO sector. In 2016 over 60,000 people from across the PwC network – a record for us – invested over 800,000 hours of professional services and skilled volunteering.
A notable part of this effort was directed to the US firm’s Earn Your Future™ initiative. This 2012 five-year commitment has helped students develop critical life skills, including building their financial capability, and enabled educators to teach those skills. To date this $190 million investment, supported by PwC volunteers dedicating a million hours of their time, has impacted almost 4 million students and educators – far exceeding the original target.
The PwC network is also invested in environmental stewardship efforts. Beyond managing our impact, where we have achieved an 8% reduction per employee in GHG emissions since FY14, we continue to innovate in collaboration with clients to consider new ways to account for natural capital and to advocate for change. Alongside CEOs representing 79 companies across 150 countries, PwC signed an open letter at COP21 in support of action on climate change.
Advocacy efforts also extend to championing the UN Sustainable Development Goals and diversity and inclusion. We’re proud to be a founding 10x10x10 IMPACT champion of the UN’s HeforShe movement.
These are just a few of the ways our network is focused on having a positive impact on the world and communities around us. I invite you to take a look at our recent Global Annual Review and Corporate Responsibility content for many more stories of the important problems we’re part of solving.