Environmental

We’re working to create a better future for all, through our environmental work with clients and our initiatives like WorldImpact. Legislative changes in New Zealand have changed how businesses and organisations think about their impact on the environment. Our clients are beginning to look more broadly at their role in society and there’s an increased focus on responsible business.

An integral part of our WorldImpact portfolio is WorldClimate, which focuses on climate action. Our WorldClimate strategy is a key part of how we plan to achieve net-zero operational carbon emissions by 2025. It’s an opportunity to use our eminence and professional networks to make our operations as sustainable as possible. Our actions and how we develop our people’s knowledge and expertise can help us support our clients and community to achieve the same.

Deloitte Global’s 2022 Gen Z and Millennial Survey revealed that climate is a top concern for these generations. They’re taking climate action and they want businesses to do the same. Similarly, the Deloitte Global CxO Sustainability Report showed more than three-quarters of C-level executives agree the world is at an environmental tipping point. Increasingly, investors and stakeholders expect environmental, social, and governance (ESG) metrics and reporting to be embedded into modern business strategy.

As part of our climate action, we’ve launched a climate e-learning programme to inform, challenge, and inspire our people. Developed in collaboration with World Wildlife Fund, the programme helps our people understand what climate action Deloitte globally is taking, and how they can make a positive impact at home and work.

This climate e-learning is now embedded into our induction programme to ensure that all people joining Deloitte New Zealand will understand our commitments to WorldClimate, and hopefully be inspired themselves.

Climate change is not a choice. It’s billions of them.

Mitigating the impacts of the climate crisis is a monumental task. But together, we can drive positive change. Progress is possible if we act collectively, and it is vital that we all take urgent and immediate action. To do our part to help the world achieve the goals of the Paris Agreement, Deloitte has launched WorldClimate, our strategy to drive responsible climate choices within our organisation and beyond.

We recognise change starts within. Deloitte is committed to taking measurable, decisive action on climate change, empowering Deloitte professionals and engaging the broader ecosystem to create solutions that facilitate the transition to a low carbon economy.

The opportunity to create a more sustainable world is at our collective fingertips, and we must all ask ourselves, “What climate action will I take today?”.

The journey to a zero-carbon economy calls for business transformation and performance reports are no exception. Good data capturing leads to good performance – but spreadsheets (the current go-to tool) have fallen short.

That’s why we got together with Workday, a Deloitte Alliance partner, to develop an emissions planning tool that revolutionising how organisations measure and manage their emissions. The project enabled us to upskill our people and help accelerate our clients on their road to zero.

“New Zealand is undergoing a transition to a lower-carbon, lower-emission economy that will impact all industries and sectors. These changes will be significant but achievable if we plan and act now,” says Andrew Wood, Associate Director, Consulting.

Click here to read about Accelerate2Zero.

Deloitte New Zealand has set ambitious targets to help us on our road to net-zero operational emissions by 2025. These targets are in line with our Sustainability Linked Loan and have been verified by the Science Based Targets initiative (SBTi).

Our targets include:
• 50 per cent reduction per full time equivalent in travel emissions from a 2019 baseline.

• 70 per cent reduction in Scope 1 and 2 GHG emissions by 2025 from a 2019 baseline

.• Move to 100 per cent renewable electricity by 2025.• Engage our major suppliers with the goal of having 67 per cent (by emissions) set science-based targets by 2030.

• Invest in meaningful market solutions and offsets for emissions we can’t eliminate.

Travel is our most visible impact, so we’ve committed to reducing our air travel by at least 50 per cent, compared to our pre-pandemic baseline. Now borders have re-opened and travel is becoming a normal part of business life again, we’re acutely aware we need to carefully manage our travel. So, we’ve introduced carbon budgets for each business unit. This assists business units to track the carbon they ‘spend’ on travel every year.

Quarterly reports on our carbon emissions to the Management Group will help us stay accountable and on track. Our people are an important part of how we’ll achieve our targets. We’re helping them through ongoing learning opportunities and empowering them to have meaningful conversations with clients too.

Deloitte New Zealand is proud to be working alongside other organisations to lead the way in creating a more sustainable and equitable world. We’re a member of the Sustainable Business Council (SBC) and its CEO-led Climate Leaders Coalition, and the Aotearoa Circle and its finance arm Toitū Tahua: Centre for Sustainable Finance.

Together with these like-minded organisations, we’re leading the way with initiatives including:

• Upskilling finance executives on sustainability,​

• Contributing to the SBC and Climate Leaders Coalition’s discussion document in response to the New Zealand Emissions Reduction Plan,

• The Taskforce on Nature-related Financial Disclosures,

• Contributing to the governance of Toitū Tahua.

It takes a truly unique ecosystem to focus on elevating ethical and sustainable business practices in New Zealand. Collaborative action is vital for positive change. That’s why we’re also co-hosts, alongside Kathmandu, of the Collaborative Advantage – a group of businesses working together to address social and environmental challenges.

In FY22, the group grew to 33 organisations and we continue to meet to share insights and address issues surrounding modern slavery, ethical sourcing programmes, climate change, and human rights. Working collaboratively, we can learn from each other and take authentic action to achieve shared social, economic, and environmental goals.​

Public sentiment and public policy are helping drive the transition to a net-zero, sustainable economy. This transition has had an impact on how businesses and organisations operate and will continue to do so. In 2021 and 2022, together with the Sustainable Business Council and Toitū Tahua: Centre for Sustainable Finance, Deloitte conducted a snapshot survey to uncover perspectives of New Zealand CFOs on their role in relation to sustainability, and how their organisations are progressing sustainability activities.

The report emphasised that CFOs are in a unique position to take a leadership role in driving a more sustainable economy and creating value and organisational resilience. Value-driven organisations are more likely to integrate sustainability into their strategy and business model, enhancing their long-term performance and resilience.

“The money is finally catching up to the science,” says Jo Kelly of Toitū Tahua Centre for Sustainable Finance. “Resilience is the ability to bend without breaking. I implore all CFOs to bend your companies as far as you can into the future, but without breaking the communities, the workers and the customers who are relying on you and who expect you to invest in solutions."

Read the 2022 CFO Sustainability Snapshot.