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Our commitment to climate action
Deloitte Australia Position Statement
2 November 2020: Deloitte Australia believes climate change is one of the biggest shared challenges facing humanity. We believe in the science of climate change and the economic and commercial risks inaction poses to our society, economy, communities, and businesses.
As business leaders, policy influencers and individual citizens, we recognise the need for comprehensive action. Doing nothing is not an option, and it is not without cost. There will be tangible long-term benefits by acting now. Climate risk stress testing has become a key imperative for Australian business in 2020 and beyond as organisations fully realise the risks faced in terms of unplanned imposed costs, loss of market and/or loss of social licence.
To mitigate economic and climate risk, the global economic system must transform to decouple economic growth from emissions intensity, and we must do our part. We are committed to ongoing action both within our organisation and beyond.
Our climate action response aligns to our journey towards reconciliation as we recognise the spiritual and symbiotic connection between humanity and our environment. It will progress hand in hand with our Indigenous Strategy and our support for the 2017 Uluru Statement from the Heart. This acknowledges the ancestral tie between the land and Aboriginal and Torres Strait Islander peoples and their custodianship of country for over 60,000 years. Indigenous wisdom can guide us how to live in harmony with the land.
Our actions and commitments
Deloitte Australia has established a Climate Action Steering Committee led by senior leaders and supported by an employee-led Advisory Council. We have a defined a program with actions across three pillars: our footprint, our voice, and our offerings. We will continue to challenge ourselves on the actions we take. We aim to inspire each of our 10,000 staff to act and help us seek a sustainable future together - because this is about their future. In Deloitte’s 2020 Millennial Survey, climate change and protecting the environment rated as the number one societal concern among Millennials and Gen Z, even after the onset of the Covid-19 pandemic. That is one in two (49.53%) of our Deloitte employees today.
Reducing our carbon footprint
Deloitte Australia is committed to achieving net zero emissions by 2030. We will achieve this primarily by reducing our travel and building-related emissions by enabling effective virtual and hybrid ways of working and powering our buildings with 100% renewable energy. We will also mobilise our people and alliances to design and support the delivery of major carbon offset projects.
The specific targets underpinning these strategies are currently being developed by our climate advisory experts. They will be aligned with Deloitte’s WorldClimate Strategy which has been validated by the Science Based Target Initiative (1.5°C scenario), and is designed to reduce emissions in accordance with the Paris Climate Agreement.
We will update this statement annually, with our progress towards these goals and our climate action strategy.
Supporting our clients
As a professional services firm, we partner with our clients and guide them through the process to achieve sustainable operations and responsible climate choices. To this end, we are already:
- working with many of our clients to help them through the transition to a low-emissions economy
- helping company boards, chief executives, and executive teams to understand the risks and opportunities of climate change for their business
- assisting clients to define a science-based, actionable strategy to carbon neutrality, helping them understand their abatement challenge and set authentic decarbonisation targets grounded in the latest climate science and robust commercial costings
- accompanying clients on their operational, portfolio and technological transformations required to thrive in a low-emissions economy, including decarbonising, climate-proofing and optimising their operations to build long-term resilience and competitive advantage, and
- supporting clients meet climate-related reporting, disclosures and assurance needs to communicate progress to stakeholders and unlock new opportunities.
In working with organisations, we take the following positions:
- We will actively work with new and emerging low emissions intensive industries and businesses to help them establish themselves in crafting a new system of production in Australia
- We will actively advise and work with high emissions intensive businesses to effectively manage their way through this major transition
- We will work with regulators and governments to ensure that best practice regulation and policy is in place to support Australia’s economic growth, jobs, and as a leader in decoupling the economy from emissions
- We will actively work with all sectors to help them understand the physical impacts of climate change and develop adaptation and response pathways, and
- We will actively work with other businesses, communities, and governments to ensure that our economy makes a responsible and equitable transition to a new future.
Using our Voice
As we continue to assist our clients to adapt and respond, we will also participate in the discussions on government policies and actions on climate change that are in the best interests of a sustainable and prosperous future. Policies aimed at strengthening economic growth can support low-emission pathways, and actions to stimulate investment in low-emission investments can strengthen economic growth and job creation.
As a global firm, we will draw on our vast experience with business, communities, governments and regulators, alongside our research and analytical expertise to contribute a balanced debate on climate change.
Deloitte’s purpose is to make an impact that matters for our clients, our community and for all those who work in our firm. Our commitment to climate action reflects the values and purpose of our firm.