Accounting Firms

EY Scotland helps launch new climate initiative

It has joined Aggreko, Diageo, FirstGroup, Lloyds Banking Group M&G, Scottish Power, Scottish Water, and Wood in creating the SBCC

EY Scotland has revealed it is part of a group of businesses in Scotland who have joined forces to launch a new climate action initiative, named the Scottish Business Climate Collaboration (SBCC), ahead of COP26, to “accelerate the transition to a net-zero future”.

It has joined Aggreko, Diageo, FirstGroup, Lloyds Banking Group M&G, Scottish Power, Scottish Water, and Wood.

The nine businesses represent around 25,000 employees in Scotland and 570,000 globally, with more than £92billion in global revenue.

SBCC’s said its mission is to “leverage combined scale and sustainability ambitions to accelerate the journey towards a net-zero future in Scotland”.

SBCC will provide “strategic direction and explore practical, best practice action members can take – corporately and at employee levels – in the fight against climate change”.

Through a programme of collaboration in the build-up to COP26, SBCC aims to generate a “meaningful business legacy” from the global intergovernmental conference when it takes place in Glasgow next month.

This work will culminate in a SBCC Pledge, to be announced during COP26, when other businesses will be invited to adopt the measures in the pledge.

Sue Dawe, EY Scotland managing partner for Financial Services, said: “As we emerge from the COVID-19 pandemic, it is right that we focus the same level of resolve on tackling sustainability – the other great global crisis of our time.

“We are proud to be playing our part, taking action in our own business as well as working with other organisations through initiatives like the Scottish Business Climate Collaboration, the Sustainable Markets Initiative, the S30 forum of Chief Sustainability Officers, and the World Economic Forum.”

She added: “While sustainability presents tremendous challenges, it is also the innovation opportunity of a generation.The business community is ready to take positive steps in the fight against climate change.

“Forums like the SBCC will help to identify opportunities to unlock the full potential of the private sector to drive progress and support the transition to a net zero economy, with business and policy makers working closely together on this shared objective. Through collaboration like this we will find new ways to protect and create value from sustainability for all stakeholders.”

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