Sale of Restructuring practice completed May 2021 In February 2021, Deloitte LLP entered a conditional agreement to sell its Restructuring business. Completed 28 May 2021, transferring 16 equity partners and 239 staff. Consideration was £220 million; net profit on sale was £184 million recognised in FY2021.
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FY2021 employee headcount comparatives restated for DTTL network firm inclusions In the LLP financial statements for year ended 31 May 2021, average employees for 2021 were overstated by 619 for client-facing employees and 336 for non-client-facing employees due to previous inclusion of certain employees of other DTTL network firms. 2021 comparatives have been restated.
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Primary: Energy efficiency improvements in office portfolio Energy efficiency improved an additional 18% per m2 compared to prior year, partly due to COVID-19 but also through the Better Buildings process which drives energy reduction by right-sizing legacy office space, delivering sustainable fit-outs, and identifying operational efficiencies. Right-of-use asset impairments reflect decisions to exit buildings, further reducing the portfolio footprint.
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WorldClimate net zero by 2030 target launched During the year, Deloitte LLP launched WorldClimate, a plan to achieve net zero by 2030. Deloitte also committed to set science-based targets with the SBTi in line with a 1.5°C pathway, and joined the UN Race to Zero campaign and The Climate Group initiatives on renewable energy, EVs, and energy productivity.
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EACs purchased to achieve 100% renewable electricity Deloitte LLP purchased Energy Attributable Certificates (EACs) for all electricity procured by landlords, achieving its commitment to source 100% renewable electricity. From 1 June 2020, EACs were also purchased for Deloitte LLP's owned Electric/Plug-In Hybrid Fleet.
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100% renewable electricity via EACs; fleet EAC coverage from June 2020 Deloitte LLP purchased Energy Attributable Certificates (EACs) for all electricity procured by landlords, enabling it to meet its commitment to source 100% renewable electricity. From 1 June 2020, EACs were also purchased for the owned Electric/Plug-In Hybrid Fleet to report zero emissions for that segment. The firm has also signed up to The Climate Group's RE100-aligned commitment to drive climate action through renewable energy adoption.
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Primary: Business travel reduction via video-conferencing and hybrid working Increased video-conferencing capabilities facilitate client work while reducing the need to travel. The COVID-19 lockdown meant minimal travel was undertaken during the fiscal year, and the evolving hybrid operating model combining office, client-site and home-working is anticipated to maintain improved energy and carbon efficiency compared to the baseline in the future.
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Acquisition of Kemp Little LLP On 29 January 2021, Deloitte LLP acquired Kemp Little LLP, a technology and digital media law firm. 114 employees including 29 partners joined Deloitte, doubling the lawyer headcount. Purchase consideration was £15 million generating £14 million of goodwill.
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Dependent: Science-Based Targets and WorldClimate supply chain / client engagement Deloitte LLP launched WorldClimate, a plan to achieve net zero by 2030, setting ambitious goals to drive responsible climate choices within the organisation and beyond, including with alliance partners, suppliers, and other stakeholders. Deloitte has committed to the SBTi framework to set GHG reduction targets aligned with the Paris Agreement 1.5°C ambition, and joined the UN Race to Zero campaign.
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SBTi commitment and UN Race to Zero joined Deloitte LLP demonstrated commitment to sustainability by working with the Science-Based Targets initiative (SBTi) to set science-based targets to reduce GHG emissions in line with the Paris Agreement 1.5°C ambition. Also joined UN Race to Zero and The Climate Group's triple commitment on renewable energy, EV adoption and energy productivity.
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