EY publishes annual report on progress toward measuring global impact
The EY organisation today publishes EY Value Realized, previously the EY Global Review, highlighting a commitment to the measurable, positive impact that the EY organization has on people, society and clients.
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
The report also highlights future commitments and how the EY organization will continue to make progress beyond FY21, including:
- 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.”