Ernst & Young released its inaugural "Value Realized" report on Thursday, detailing the firm's environmental and social impact on staff members, clients, and the communities it serves.
Previously dubbed the "EY Global Review," the "Value Realized" report has for the first time reported against the World Economic Forum-International Business Council Stakeholder Capitalism Metrics. The report also documents the utilization of environmental, social and governance (ESG) standards into EY's business strategy.
WEF-IBC Stakeholder Capitalism Metrics include 21 ESG disclosures across four main areas: principles of governance; the planet; and people and prosperity aligned to the United Nations Sustainable Development Goals. EY, alongside the other Big Four accounting firms, developed
“Businesses should create value for all their stakeholders, as well as their shareholders," said Carmine Di Sibio, EY global chairman and CEO, in a statement. "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."
Highlights from the EY "Value Realized" report concerning 2021 include:
- A 60% reduction in carbon emissions;
- 36% of new EY partner promotions were women;
- 59 hours of training delivered on average per EY staff member; and,
- An estimated 20 million people impacted through the firm's corporate social responsibility program,
EY Ripples.
The report also highlights the firm's commitments beyond 2021, including:
- 200,000 EY Badges (digital-skills credentials offered to staff) completed by 2022, and 200 Tech MBAS by 2022;
- Aiming to achieve carbon neutrality by 2025;
- Commitment to "positively impact" 1 billion lives by 2030; and,
- Investments of $10B over the next three years to improve audit quality, strategy, technology, and people.
The full "Value Realized" report is available on EY's
