EY launches new sustainability service to prepare for net zero plans by 2023

EY Carbon has received £100 million in investment to recruit over 1,300 professionals over the next three years.

In response to the Chancellor’s announcement during COP26 mandating all UK-listed businesses and financial institutions to publish net zero plans by 2023, EY has launched EY Carbon.

EY Carbon’s remit is to advise and support these businesses as they prepare their net zero plans ahead of independent scrutiny and verification.

The team is dedicated to helping these businesses develop robust, ambitious plans, while building longer-term sustainability strategies.

EY invested over £100 million in the UK to recruit 1,300 professionals until 2025.

The team has also recently launched EY Carbon Hub - a net zero transformation progress tracker designed to help businesses plan, measure, and execute on their transition to net zero.

In the UK, EY will have a team of 250 sustainability professionals helping clients navigate an ever-changing consumer, regulatory and political environment across transmission, distribution and retail energy.

Rob Doepel, EY Managing Partner for Sustainability, said: “Sustainability is one of the defining issues of our generation and EY has a significant contribution to make in addressing today’s environmental challenges by supporting our clients and our communities.”

Alison Kay, EY’s Managing Partner for Client Service, said: “Investors, employees and communities are increasingly holding businesses to account over their sustainability credentials, and inaction is simply not an option. Businesses that will thrive in a net-zero economy must lead on this agenda with transparency and pace.”

Hywel Ball, EY UK Chair, comments: “The significant investments we are making in EY Carbon will help support our clients to not only adapt their own operations but also identify and unlock the business opportunities created by decarbonisation – ultimately helping to protect and create long-term value for all their stakeholders.”

EY achieved a significant sustainability milestone when it became carbon negative in 2021 and now are on set to reach net zero by 2025.