FY2020 Deloitte China Impact Report
Inaugural Report sheds light on Deloitte's multi-dimensional sustainability including business, people, communities, and the environment
Deloitte China today releases its FY2020 Impact Report. Centered on Deloitte's sustainability vision, the Report discloses Deloitte China's continuous contribution to promoting the collective growth and development of society from a multitude of dimensions including business, people, communities, and the environment. This is the first comprehensive impact report produced by Deloitte China.
Founded in London, the UK, in 1845, Deloitte has been living its purpose – making an impact that matters – for 175 years. Leveraging its professionalism, Deloitte is committed to leading the development of the industry and delivering excellence to clients. Benefitting from China's reform and opening up, we have been dedicated to expanding our professional capabilities to serve domestic clients over the past 40 years and built our business model powered by three drivers (audit, tax, and business advisory), and consulting and advisory practices comprising consulting, risk advisory, and financial advisory, which positions us as a leader in the industry as we continue to make an impact that matters in every area of society.
"We have seen substantial changes to the economy and society since the start of this year. Industries and businesses are facing increasingly complex challenges, and we have to rethink our relationship with society in a deeper, more comprehensive way. In light of this, we need to place greater emphasis on our identity as a 'social enterprise', and aspire to enhance our social impact as a key measure of the value we deliver, which will enable us to better fulfil our commitment as a responsible business," says Deloitte China CEO Patrick Tsang.
Tsang points out that Deloitte's social impact is in three main areas:
- Delivering sustainable value through professional services to help clients achieve sustainable development in the capital market and their industries, and playing a key role in shaping industry norms;
- Supporting the communities in which we operate to facilitate sustainability and environmental commitments, achieving net-zero emissions by 2030; and
- Promoting sustainable growth of talent, and encouraging our people to lead and participate in social responsibility initiatives to create social impact.
Tsang reiterates that Deloitte will remain committed to building a responsible professional services firm, continue to serve the country with its expertise, and act on the CPC Central Committee's proposals for the 14th Five-Year Plan and the Long Range Objectives through 2035, leveraging our professional expertise to drive the country's high-quality development.
Sustainable value building
Backed by a multi-sectoral, global professional services network, Deloitte has been committed to delivering diversified services through compelling insights and extensive experience, aspiring to make an impact on social development. Deloitte China views sustainability management as a way to continually improve business operations. But it is not just a management model, it is also a long-term business imperative. Deloitte leverages specialized knowledge, extensive experience, and scientific work approaches to help companies enhance their resilience and value, and move towards a more sustainable future. Deloitte's sustainability services range from sustainability planning and information disclosures, green finance and responsible investment, climate change advisory, safety, health and environment advisory, to sustainable supply chain and social impact advisory. Deloitte China is a partner of the China Prosperity Fund Energy and Low Carbon Economy Programme. By providing technical support on clean technology, clean energy transformation, policy research, and capacity building, we are helping China accelerate its transition to a low-carbon, inclusive growth model.
Deloitte China views talent as our most valued asset and the future of our firm. We prioritize the development of our talent, with transparent and smooth promotion pathways and a well-established training system. We offer generous compensation packages, flexible work arrangements, and an optimal workplace environment, and care about our people's wellbeing. Amid the COVID-19 pandemic, we have maintained a full record of people's whereabouts and health status, and provided all staff with real-time updates on COVID-19 prevention and control measures.
At Deloitte China, we reject discrimination of any kind, aspiring to build a diversified, inclusive, and equal working environment for our people. As of 31 May 2020 (the end of FY2020), women account for 61% of total headcount and 45% of managers or above.
Deloitte China's total societal investments in FY2020 amounted to RMB23 million, with 25,000 hours of volunteer and pro bono time. In August 2019, Deloitte China launched the WorldClass initiative. Together with government, businesses, educators, and NGOs, Deloitte China will leverage its professional knowledge and capabilities to empower 10 million farmers and rural children in China by 2030 through education, skills development, and access to opportunities.
In 2020, Deloitte China, in active response to the global WorldClimate initiative, committed to achieving net-zero emissions by 2030. We will protect the environment by promoting green travel, creating green workplaces, and reducing greenhouse gas emissions.
As Patrick Tsang notes, under the guidance of our culture of courage, innovation, inclusion, wellbeing + integrity, Deloitte plays an active role in driving the collective growth and development of society. Moving forward, Deloitte China will, continue to leverage its professional strengths and impact, work with talent and partners from all walks of life to make an even greater impact that matters for society.
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