Middle East partner remuneration arrangement revised from 1 July 2023 From 1 July 2023, partnership remuneration arrangements for Middle East partners were revised. A large component of Middle East partner remuneration became employment income recognised as staff costs in the income statement (rather than as profit allocation to non-controlling interests). This affects period-over-period comparability of staff costs and non-controlling interest profit allocations.
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Updated UK government air emissions multipliers increased reported air travel emissions Application of the most recent UK government air emissions multipliers resulted in the Group's air emissions for 2024 increasing by 27% (UK air emissions up 30%) despite UK flights only increasing 3% year-on-year. This is a methodology refinement that increases the accuracy of business travel emissions reporting.
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Rebased purchased goods and services emissions with improved factors In FY24, PwC restated purchased goods and services emissions to reflect increased accuracy of underlying emissions factors and improved sector guidance. FY19 baseline was restated from 51,627 to 90,687 tCO2e (UK) and FY23 from 53,002 to 74,062. The restatement increased baselines significantly, driven by improved specificity of emissions factors and incorporation of purchasing power year-on-year movement.
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Restated FY19 baseline and FY23 for purchased goods emissions In FY24, the Group restated comparatives for emissions factors used in purchased goods and services calculation, resulting in restatement of FY19 baseline from 51,627 to 90,687 tCO2e and FY23 from 53,002 to 74,062 tCO2e (UK). This was driven by improved specificity of emissions factors against spend profile and incorporating purchasing power year-on-year movement. The increase in baseline makes the reduction target harder to manipulate.
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Applied updated UK government air emissions multipliers The application of the most recent UK government air emissions multipliers resulted in the Group's air emissions for 2024 increasing by 27%. This methodology update reflects more accurate emissions factors for air travel.
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SBTi-validated near-term net zero targets PwC's near-term science-based targets are aligned with a 1.5 degree climate scenario and have been validated by the SBTi: reduce scope 1 and 2 absolute emissions by 50% from FY19 base by FY30; transition to 100% renewable electricity across the Group by FY30; reduce absolute business travel emissions by 50% from FY19 base by FY30; procure 50% of purchased goods and services (by emissions) from suppliers with SBTi-validated targets by FY25.
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Disposal of two businesses in Risk and Tax lines of service During FY24, the Group entered into two business disposal contracts within the Risk and Tax lines of service for total consideration of £14m, resulting in a net gain on disposal of £11m.
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Middle East partnership remuneration restructure From 1 July 2023, the partnership remuneration arrangements for Middle East partners were revised. A large component of Middle East partner remuneration became employment income recognised as staff costs in the consolidated income statement, materially increasing reported staff costs and reducing profit allocated to non-controlling interests from equity.
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Disposal of two businesses in Risk and Tax lines During FY24, the Group entered into two business disposal contracts within the Risk and Tax lines of service, with consideration of £14m and a net gain on disposal of £11m.
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PwC UK Group first published externally assured emissions data In 2024, PwC UK Group published externally assured emissions data for the first time. In 2025, PwC UK was the first business to achieve Carbon Trust Leading accreditation for its carbon management.
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