PwC — full event log

A new Management Board was installed on 1 July 2024 following Marco Amitrano's election as Alliance Senior Partner, PwC UK and Middle East.

sustainability_report p.79

PwC Global has near-term (2030) and long-term (2050) net zero GHG emissions targets validated by SBTi, aligned with 1.5-degree scenario. Group is committed to net zero by 2050.

sustainability_report p.94

Certain base year and comparative numbers have been updated to reflect revised emission factors. In the prior year accounts, fugitive emissions, fuel and energy related activities, and waste figures were restated.

sustainability_report p.107

Timeframes across which climate-related risks and opportunities have been assessed were revised: short (up to 2030), medium (up to 2049), long-term (2050+). Previously short-term only extended to 2025.

sustainability_report p.98

On 1 March 2025, the Group acquired a 100% interest in Emkan Education Company, a consultancy firm in KSA specialising in education and skills development advisory. Consideration £8m, gain on bargain purchase £4m.

sustainability_report p.38

Group committed that 50% of purchased goods and services suppliers (by emissions) would have set science-based targets by FY25. Achieved only 28% — missed FY25 target due to slower adoption in Middle East and Channel Islands.

sustainability_report p.105

UK total scope 1 and 2 absolute emissions increased 74% year on year due to refrigerant losses including a large loss in Glasgow office in July 2024 from aging equipment. PwC has now moved to a new Glasgow office.

sustainability_report p.110

As part of strategic review, certain UK service areas were reclassified amongst lines of service. 2024 comparative figures restated for Consulting (+16), Tax (-90), Deals (-1), Risk (+75). Total revenue unchanged.

sustainability_report p.24

Certain base year and comparative numbers have been updated to reflect revised emission factors. In the prior year accounts, fugitive emissions, fuel and energy related activities, and waste generated in operations were restated for 2024 and 2019.

sustainability_report p.107

Timeframes for climate-related risks have been revised: short-term up to 2030, medium-term up to 2049, long-term 2050+. Previously short-term only extended to 2025, necessitating updated timeframes to align with emission-based targets.

sustainability_report p.98

On 1 March 2025, the Group acquired a 100% interest in Emkan Education Company, a consultancy firm based in Saudi Arabia, specialising in education and skills development advisory services. Consideration was £8m, generating a £4m gain on bargain purchase.

sustainability_report p.38

As part of a strategic review, certain United Kingdom service areas were reclassified amongst lines of service. Comparative 2024 figures were restated for comparability (£16m reclassified to Consulting, £90m out of Tax, £75m to Risk).

sustainability_report p.24

Group committed that 50% of purchased goods and services suppliers (by emissions) would set science-based targets by FY25. Group has 28% of supplier emissions covered by SBTis. UK exceeded its target but Middle East and Channel Islands lagged due to lower market adoption.

sustainability_report p.105

Scope 3 (extended) reporting includes purchased goods and services, employee commuting and working from home, capital goods, upstream transport. These are not within direct operational control but reported for transparency. Total extended Scope 3 increased 38% vs 2019 baseline.

sustainability_report p.107

In 2024, PwC UK became the first business to achieve Carbon Trust Leading accreditation for its carbon management.

sustainability_report p.95

UK Scope 1 and 2 absolute emissions increased by 74% year on year due to refrigerant losses including a large loss in the previous Glasgow office in July 2024 due to aging equipment. PwC has now moved to a new, modern Glasgow office.

sustainability_report p.110

A separate report has been issued by Crowe U.K. LLP on their independent limited assurance engagement in accordance with ISAE 3000 & 3410 with no qualifications. Note Crowe also became statutory auditor.

sustainability_report p.111

As part of the PwC Network-wide commitment, the Group has committed to a net zero pathway by 2050 and has set near-term (2030) and long-term (2050) targets validated by the SBTi for reducing emissions in line with a 1.5-degree climate scenario. PwC Global has NZ GHG emissions with LT 2050 goals validated by SBTi for 2025.

sustainability_report p.94

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.

sustainability_report p.27

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.

sustainability_report p.71

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.

sustainability_report p.72

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.

sustainability_report p.73

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.

sustainability_report p.71

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.

sustainability_report p.60

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.

sustainability_report p.20

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.

sustainability_report p.27

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.

sustainability_report p.20

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.

sustainability_report p.95

PwC has SBTi-validated near-term science-based targets aligned with 1.5°C: reduce Scope 1 and 2 absolute emissions by 50% from FY19 base by FY30; transition to 100% renewable electricity by FY30; reduce business travel emissions by 50% from FY19 base by FY30; procure 50% of purchased goods and services (by emissions) from suppliers with science-based targets by FY25.

sustainability_report p.60

First year of reporting in accordance with new Limited Liability Partnerships (Climate-related Financial Disclosure) Regulations 2022, although sixth year reporting against TCFD. Climate risk disclosures incorporated covering all four TCFD pillars.

sustainability_report p.58

Separate report issued by Crowe U.K. LLP on their limited assurance engagement in accordance with ISAE 3410 standard for GHG emissions; no reservations.

sustainability_report p.74

Following easing of pandemic-related travel restrictions and pent-up demand, UK business travel emissions rose materially in FY23 (Scope 3 business travel up from 15,493 to 36,436 tCO2e), though still 51% below 2019 baseline. Drives most of the year-on-year increase in total Scope 3.

sustainability_report p.73

Committed to purchase high integrity nature based avoidance carbon credits from 2024 to 2028, verified against ART/TREES standard, as part of LEAF Coalition. Plans to transition to 100% carbon removal credits by 2030.

sustainability_report p.67

For FY23, emission factors for purchased goods and services have been updated to reflect significant shifts in the global economy. PG&S emissions are calculated based on spend and an emission factor.

sustainability_report p.72

The Group has committed to Net Zero by 2030, halving operational carbon footprint by 2030 against 2019 baseline, in line with 1.5°C scenario, validated by SBTi at highest ambition level. Includes 100% renewable electricity, halving business travel emissions, and 50% of suppliers (by emissions) setting science-based targets by 2025.

sustainability_report p.70

On 1 July 2022, disposed of subsidiary Regnology TIR UK Ltd which offered specialised tax software for wealth advisors, for £7m, recognising £4m gain on disposal.

sustainability_report p.19

On 1 April 2023, acquired 100% of People Force Consulting Ltd for £5m consideration. Recognised £2m goodwill. Small acquisition.

sustainability_report p.25

PwC UK Group aligned with global PwC Network's aim to be Net Zero by 2030, validated by Science Based Targets initiative against a 1.5 degree scenario. Reference year 2019.

sustainability_report p.58

On 29 April 2022, the Group disposed of its global mobility and immigration services business to Clayton, Dubilier & Rice. Approximately 600 staff transferred. Prior year revenue from this business was £108m. Affects period-over-period revenue comparability.

sustainability_report p.19

On 12 February 2022, acquired 100% of Olivehorse Consulting Services Ltd (renamed PwC Business Consulting Services Limited), supply chain management technology and consultancy. Consideration £19m, with £8m goodwill recognised.

sustainability_report p.24

PwC UK was one of the first businesses to achieve the Carbon Trust 'Route to Net Zero' Standard at Advancing level, replacing the previous Carbon Trust Triple Standard. Limited assurance on GHG emissions provided by Crowe U.K. LLP under ISAE 3410.

sustainability_report p.58

The Group has transitioned to 100% renewable electricity since 2022, ahead of the FY30 target, which drove Scope 2 market-based emissions to zero.

sustainability_report p.69

Scope 3 road business travel emissions increased from 205 to 813 tCO2e (+297%) as COVID-19 restrictions lifted. Total distance travelled was twice that of 2021 but still only a fifth of pre-COVID-19 levels. This is a rebound rather than a methodology change.

sustainability_report p.58

PwC Group transitioned to 100% renewable electricity since 2022, achieving its FY30 target eight years early. UK has been on 100% renewable since FY22.

sustainability_report p.69

A separate report has been issued by Crowe U.K. LLP on their limited assurance engagement in accordance with ISAE 3410 standard for GHG emissions; there were no reservations.

sustainability_report p.58

All residual emissions in FY21 were offset through purchasing Verified Carbon Standard credits and REDD+ projects (100% offset, same as FY20).

sustainability_report p.58

The UK Group aims to become a Net Zero business by 2030, with reference year of 2019. All residual emissions in 2021 were offset 100% through Verified Carbon Standard credits and REDD+ projects.

sustainability_report p.58

Energy consumption fell 21% and carbon emissions fell 40% overall in FY21, including an 89% drop in energy consumption from road-based business travel due to COVID-19 working-from-home. Business travel road emissions fell from 2,821 tCO2e to 205 tCO2e.

sustainability_report p.58

Group adopted IFRS 16 'Leases' on 1 July 2019, replacing IAS 17. Operating leases now recognised as right-of-use assets (£785m) and lease liabilities (£852m). Modified retrospective approach used; prior year comparatives not restated.

sustainability_report p.14

Group experienced reduction in revenues during the period due to COVID-19. Borrowing facilities increased to £870m as a precautionary measure. Tight control on discretionary expenditure, deferral of investments and member distributions implemented.

sustainability_report p.4

For 2020, PwC discloses both location-based (5,696 tCO2e) and market-based (1,090 tCO2e) Scope 2 emissions. Total emissions on market-based basis are 4,550 tCO2e vs 9,156 tCO2e location-based.

sustainability_report p.61

All residual emissions offset through purchasing carbon credits (Verified Carbon Standard and REDD+ projects). Since 2007 reference year, energy consumption reduced 60% and carbon emissions reduced 94%.

sustainability_report p.60

During FY2020, both ISO 14001 and ISO 50001 certifications renewed; Carbon Trust Standard for Carbon (held since 2009) renewed; Level 3 of Carbon Trust Standard for Supply Chain attained for the first time.

sustainability_report p.60

Group reclassified £35m of Middle East end-of-service benefit obligations from trade and other payables (accruals) to retirement benefit obligations as permitted by IAS 19. 2019 comparatives restated.

sustainability_report p.13