For the first time, the EY organization reports against the World Economic Forum-International Business Council (WEF-IBC) Stakeholder Capitalism Metrics to demonstrate progress on plans for increased transparency.
EY Value Realized is highlighting a commitment to the measurable, positive impact that the EY organization has on people, society and clients and demonstrates how the integration of environmental, social and governance (ESG) standards into business strategy is leading to transformation across the EY organization.
“Businesses should create value for all their stakeholders, as well as their shareholders. EY will continue to work alongside clients, other mission-driven organizations and the public sector to help find solutions to facilitate a global recovery to the pandemic, creating a just transition to a low carbon future, addressing social equity and income inequality, fostering confidence and trust in the world’s capital markets and supporting clients as they transform”, says Bogdan Ion, Country Managing Partner EY Romania & Moldova and Chief Operating Officer for EY South-East & Central Europe and Central Asia (CESA).
The WEF-IBC Stakeholder Capitalism Metrics include 21 ESG disclosures, against which companies and organizations can report, spanning four key areas; Principles of Governance, the Planet, and People and Prosperity aligned to the United Nations Sustainable Development Goals (UN SDGs). As a member of the WEF-IBC, EY contributed to the collaborative effort of bringing a private sector voice to the importance of addressing ESG issues for long-term success, and reporting progress in a consistent way that can be compared against substantive benchmarks.
Reporting on the WEF-IBC metrics, alongside other strategic key performance indicators, highlights progress across the EY organization in FY21, including:
- 60% reduction in emissions
- improving gender balance: 36% of new partner promotions were women and 48% of EY employees are women
- 59 hours of training delivered on average per employee, totaling 18m hours of training across the organization
- 20m lives positively impacted through corporate social responsibility program, EY Ripples
The report also highlights future commitments and how the EY organization will continue to make progress beyond FY21, including:
- 200k EY Digital Badges completed by FY22 and 200 Tech MBAS by FY22
- Ambition to achieve net zero by FY25
- Commitment to positively impact 1b lives by FY30
- Investments of $US10b over the next three years on audit quality, strategy, technology and people
The EY Value Realized report can be downloaded or accessed here.