PwC establishes Environment, Social and Governance (ESG) Advisory Group to help drive the impact the firm can make on the ESG revolution
Three highly-qualified and experienced industry experts will bring their perspectives and expertise to shape PwC Australia’s own ESG activities – and its advice and guidance to clients
PwC Australia recognised for its leadership on ESG by securing a place on the Climate Governance Initiative Australia Working Group – the Australian chapter of the World Economic Forum’s Climate Governance Initiative – and separately, the Australian Sustainable Finance Initiative.
AUSTRALIA – PwC Australia has established a new ESG Advisory Group of highly-credentialed experts to help guide the firm on how to best help clients achieve their ESG goals, and challenge the firm to ensure its own ESG activities meet high standards, appointing Greg Bourne, Judy Slatyer and Fiona Reynolds as inaugural members.
The Advisory Group members will also work directly with PwC Australia clients, to assist them with their ESG pursuits and strategies.
The Advisory Group will provide an “outside in” perspective to help shape the positive impact PwC Australia can have on the ESG revolution, by challenging the firm and providing advice to better guide its ESG activities and priorities, drawing on the most contemporary practices and perspectives from around the globe.
It will also ensure PwC Australia is providing its clients with the best and most contemporary leadership when it comes to their ESG commitments and strategies, through the tutelage of three experienced, leading experts who have been at the driver’s seat of the major shifts that are changing the world, and have helped guide major Australian organisations on their path to better ESG credentials.
“We’ve put together an experienced team of internal and external experts who will ensure we are best placed to make a positive impact on the ESG revolution, both through our own actions, and through helping our clients deliver great impact, by challenging us and pushing us to think differently and do better,” said PwC Australia Chief Operating Officer and ESG Executive Liza Maimone.
“Our ESG Advisory Group members are individuals who have made, and continue to make, important contributions and impact across environmental, social and governance agendas for the prosperity of people and the planet.”
Judy Slatyer has a wealth of experience in corporate, government and not-for-profit settings. She is a former CEO of the Australian Red Cross, global COO of WWF, and CEO of Lonely Planet. She is a member of the Organising Committee for the Climate Leaders Coalition, and a member of Chief Executive Women.
“Clearly the ESG momentum in Australia is moving at pace and evolving every day. Businesses are increasingly responding and delivering on their ESG commitments. I see great potential and opportunity as we all shift to a sustainable path collectively,” said Slatyer.
Greg Bourne has worked at the nexus of climate change, energy business and policy for more than 30 years. He was a special advisor to UK Prime Minister Margaret Thatcher on energy and transport, and, as Regional President of BP Australasia, was integral in BP’s transition from British Petroleum to Beyond Petroleum. He was CEO of WWF Australia, a non-executive director of Carnegie Wave Energy, and is a former chair of the Australian Renewable Energy Advisory.
“This is a rare opportunity to work with clients who are at the pinnacle of their transitioning and provide them with the tools they need to make a big impact on the world – and reap the rewards of doing so,” said Bourne.
Fiona Reynolds is currently living abroad in the UK, where she is CEO of the UN-supported organisation, Principles for Responsible Investment, which collectively represents more than $130 trillion in assets under management. She is a former CEO of the Australian Institute of Superannuation Trustees, and has been a member of the UK Government’s Green Finance Taskforce. In 2018, she was named by Barron’s magazine as one of the 20 most influential people in sustainability across the globe.
Reynolds will be returning to Australia in the new year as CEO of Conexus Financial, as well as joining boards in the sustainability space.
“ESG is an inevitable agenda that is only growing in momentum, and businesses of all shapes and sizes can either reap the rewards of being ahead of the curve, or rue a failure to act. This critical role will not only help PwC Australia play a leading role in the ESG revolution, but will also help drive the changes that will benefit people and the planet,” said Reynolds.
Further group members will be announced in due course.
In addition, PwC Australia has been invited to join the Climate Governance Initiative Australia Working Group. Hosted by the Australian Institute of Company Directors, the Initiative is the Australian chapter of the World Economic Forum’s Climate Governance Initiative.
The Initiative will bring together Australia’s leading climate governance figures to drive improved climate change governance, and better embed climate considerations into the strategic decision making of Australian boardrooms.
“This initiative will bring together the key bodies helping to drive the business sector’s responsibilities and opportunities when it comes to climate change. We are honoured to have the chance to lend our voice to this issue that will shape our nation and our planet,” said Maimone.
PwC Australia was also recently installed as a foundation member of the Australian Sustainable Finance Initiative – which has been established to set out a roadmap for realigning the finance sector to support greater social, environmental and economic outcomes for the country.
PwC Australia’s ESG Advisory Group is another key component of our landmark new global strategy, The New Equation, which responds to fundamental changes in the world, including technological disruption, climate change, social equity, fractured geopolitics, and the continuing effects of the COVID-19 pandemic.
It focuses on two interconnected needs that clients face in the coming years: to build trust, and to deliver sustained outcomes in an environment where competition and the risk of disruption are more intense than ever and societal expectations have never been greater.
“ESG is inexplicably tied to all of the major shifts shaping the world today. A positive and enduring transformation right across the value chain and wider economy is needed for organisations, government and social enterprise to respond appropriately and drive future prosperity for people and the planet,” said Maimone.
“The Advisory Group is a critical piece of our community of solvers. They are leading experts who can provide industry insights, ESG expertise and most importantly, an outside-in perspective to help shape the positive impact PwC can have on the ESG revolution.”
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