EY has been recognized by research and advisory firm, Verdantix, as a leader for environmental, social and governance (ESG) services and sustainability consulting services in its latest report, Green Quadrant: ESG & Sustainability Consulting 2022 (pdf).
Verdantix evaluated 15 providers of ESG consulting services and recognized the EY organization as a leader for ESG and sustainability program strategy, climate change strategy and risk and governance performance management. In the report, EY services are particularly recommended to corporate bodies seeking a consultancy organization to manage multiple types of ESG and sustainability engagements, and multinational organizations wishing to develop and meet ESG targets.
The report highlights a long history of engagement with the C-suite on ESG and sustainability initiatives across the EY organization, and the ability to offer strategic advice across a broad range of areas. EY teams are also noted for their client work to construct actionable ESG strategies and helping ensure that targets are successfully achieved.
A significant driver of the EY organization’s effort on ESG is the Climate Change and Sustainability Services team, established more than 20 years ago. It is a global, multi-disciplinary team that works across EY service lines, helping businesses understand and respond to the risks and opportunities of climate change, and keeping pace with rapidly changing requirements in relation to sustainability – including measurement and nonfinancial reporting.
The EY organization is committed to helping accelerate climate action and empowering EY people to do the same. In 2021, the EY organization became carbon negative, a major and significant step toward achieving the EY carbon ambition of becoming net zero by 2025. To achieve this ambition, the EY organization has set an aggressive target of reducing emissions across the organization by 40% by 2025 through seven key actions.
Alongside the work that the EY organization is undertaking to become more sustainable, EY teams continue to develop and invest in global sustainability services for clients, aimed at helping them progress on their own sustainability journeys. The solutions are focused on value-led sustainability, helping EY clients capture business opportunities relating to the sustainability and decarbonization drive, while also protecting and creating value.
Stavros Violaris, Associate Partner and Sustainability Leader of EY Cyprus, commented: ''More than 20 years ago, EY was among the first professional services providers to identify the need for a systematic and holistic approach to sustainability by creating a dedicated Climate Change and Sustainability Services team. Being named a leader for environmental, social and governance (ESG) and sustainability consulting services by Verdantix, is a significant recognition of our efforts and expertise in this field. We will continue to support our clients in their sustainability journeys, helping them comprehend the challenges and opportunities created by climate change''.