EY Hanyoung Declares Carbon Negative This Year... 40% Emission Reduction by 2025

[Asia Economy Reporter Ji-hwan Park] Global accounting and consulting firm EY Hanyoung has declared itself 'carbon negative,' going beyond the industry's first 'carbon neutral' status by making its net carbon dioxide emissions negative.

On the 26th, EY Hanyoung announced that EY Global unveiled a '7-Point Action Plan' to achieve carbon negativity. Through this, EY plans to achieve net zero direct (Scope 1~2) carbon emissions at all global offices by fiscal year 2025, while reducing all emissions, including indirect (Scope 3), by 40% compared to fiscal year 2019.

As part of the 7-Point Action Plan, EY first committed to reducing carbon emissions from employee transportation, such as flights, by 35% by 2025 (fiscal year basis) compared to 2019. Additionally, EY plans to reduce office electricity consumption and replace all other electricity demand with 100% renewable energy to achieve 'RE100' by 2025. RE100 is a global campaign where companies pledge to source 100% of their electricity from renewable energy, with over 280 participants including Google and Apple.

By 2025, EY plans to require 75% of its suppliers to establish Science Based Targets (SBT) for carbon reduction grounded in scientific evidence. Furthermore, EY will promote virtual power purchase agreements (Virtual PPA) to procure all consumed electricity from carbon-free renewable energy sources. EY will also develop necessary programs and tools to enable employees to directly calculate and reduce the carbon emissions generated during their work.

Park Yong-geun, CEO of EY Hanyoung, emphasized, "In an era where ESG is increasingly important, we will lead exemplary corporate activities in the industry that focus on tangible results rather than declarative actions," adding, "All 2,800 EY Hanyoung employees will actively participate to become partners in sustainable growth."

This content was produced with the assistance of AI translation services.