EY EMEIA Financial Services Sustainability Report 2013

Our communities

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We are committed to fostering sustainable growth in areas where we can have the greatest impact.

We believe the most significant impact we can have on society is by supporting global, regional and local economic stability and growth, which addresses some of the world’s major issues.

Investing in entrepreneurship and innovation

We know entrepreneurs can transform economies, drive innovation and change communities. In the industrialized world, entrepreneurial businesses create more jobs than large, established organizations. In the developing world, they account for 90% of all businesses and often represent a community’s best hope of lifting itself out of poverty.

Helping entrepreneurs is one of the most powerful ways EY can support our communities. Through the EY Entrepreneur Of The Year™ program, our EY Vantage program, and working with global organizations such as Endeavor and the Network for Teaching Entrepreneurship (NFTE), we are improving the lives of an ever-widening circle of people.

EY Vantage program

We believe the most effective way to teach our employees to innovate is to give them experience of what it means to be an entrepreneur. Our EY Vantage program which sees our top performers carry out placements at fast-growth companies in emerging EMEIA markets such as Egypt, Greece, Jordan, Lebanon, South Africa and Turkey.

To deliver the program, we have joined forces with global not for-profit organizations Endeavor and Power of Youth (POY), which help leading entrepreneurs build thriving companies. By promoting an entrepreneurial culture in emerging economies, we can help raise living standards and create sustained economic growth.

Our employees carry out six-week international pro-bono placements with entrepreneurs, or join groups of virtual advisors supporting shorter-term projects from home offices. These ’Vantage advisors’ help entrepreneurs tackle key challenges affecting the growth of their businesses.

Whether the entrepreneurs need to implement new financial management practices, redesign their business model or develop a market expansion strategy, Vantage advisors aim to equip them with the knowledge and tools they need to thrive in an uncertain economic climate. The program also encourages intrapreneurship within EY’s own business culture by giving participants first-hand experience of what it takes to be an innovator.

Our impact

For every business we work with through our EY Vantage Program, our aim is to help achieve 15% compound annual growth rate (CAGR) above projection. Six out of the eight businesses we first helped showed increased revenue in the year following their Vantage placement, with four above 20%. Three businesses have gone on to achieve increases of over 100% revenue growth in 2012 from their 2011 baseline.

Supporting businesses through Enterprise Growth Services

We recognize the huge contribution of small/medium enterprises (SMEs) and social enterprises in emerging markets, and offer them heavily subsidized consulting services. Our Enterprise Growth Services (EGS) aims to help these businesses improve productivity, profitability and growth so they can increase access to goods and services in poor communities.

EGS are currently helping an industrial consumables supplier based in Accra, Ghana make sustained reductions in their working capital, and improve cash forecasting and management. EGS also works in Uganda, Sierra Leone, Chile and Jordan.

Empowering women economically

EY has a strong track record of working on gender inclusion, women’s economic empowerment and entrepreneurship. Development Advisory Services (DAS), a dedicated team providing professional services to the public, private and development sectors, has delivered key engagements, including:

  • Helping certification and validation of women led enterprises for WEConnect International in India and Bangladesh.
  • Working with the International Finance Corporation (IFC) on a gender baseline project to establish the number of women-owned SMEs and assess their credit gap in 32 countries.
  • A scoping study of SME finance for women in Nepal for IFC. We looked at financial and non-financial barriers to accessing finance, and the credit gap, and recommended ways to develop their women-owned SME portfolio.

International Women’s Day

On 8 March 2013, EMEIA Financial Services joined thousands of people worldwide to celebrate International Women’s Day by highlighting the role microfinance plays in women’s economic empowerment. The event raised more than US$20,000 to help women in Madagascar create sustainable livelihoods through PlaNet Finance’s BABEO project.

Supporting the future workforce

We are committed to developing future leaders, both within EY and other communities, by helping young people gain the skills and experience they need to succeed in the workplace.


Planning for a greener future

Reducing office energy consumption

We are challenging our existing business practices in order to reduce office energy consumption.

Our Amsterdam headquarters exceed Dutch environmental targets by 10%, address a range of environmental impacts and improve our employees’ working environment.

Our EY Eschborn, Germany office has implemented more efficient environmental management systems which save 74 tonnes of carbon a year, andreceived an ECOPROFIT certificate recognizing its efforts.

Focus on business travel

16%

Compared with the prior year, we were able to reduce our air-travel-related carbon emissioins per full-time equivalent employee by

EMEIA Financial Services’ first carbon-footprinting exercise, conducted in 2010, showed business travel representing the biggest portion of our environmental impact. This is still true three years later.

As a highly integrated global practice, we rely on air travel. This means it represents over half our business travel carbon emissions, and a third of our total emissions.

We aim to grow as an organization, but we want to do this sustainably, so we have set a target to reduce air travel carbon emissions (CO2e) by 12% per full-time equivalent (FTE) employee by fiscal year 2015 from the 2010 baseline.

EY 2013 air travel emissions

Working with clients to reduce environmental impact

As a signatory to the United Nations Global Compact, we are committed to improving environmental practices, for ourselves and our clients. Our project teams are provided with innovative ideas and good practice examples to help them find ways to embed environmental practices into their client work.

Embedding a sustainable culture

Achieving our vision of building a better working world would not be possible without embedding sustainability within our organization. Our FS people across EMEIA can take part in a number of initiatives:


Sustainability Day

Established in 2012, the EMEIA FS Sustainability Day promotes skills-based volunteering and sustainable business practices across our markets. On 5 July 2013, more than 400 of our people took part in 20 events and our FS Sustainability Exchange – an all-employee webcast hosted by our managing partner.

Employee donations to local charities and money raised from selling EY merchandise went to Kiva, a microfinance charity providing small loans to help alleviate poverty.

 

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EY has a strong track record of working on gender inclusion, women’s economic empowerment and entrepreneurship. Development Advisory Services (DAS), a dedicated team providing professional services to the public, private and development sectors, has delivered key engagements, including:

  • Helping certification and validation of women led enterprises for WEConnect International in India and Bangladesh.
  • Working with the International Finance Corporation (IFC) on a gender baseline project to establish the number of women-owned SMEs and assess their credit gap in 32 countries.
  • A scoping study of SME finance for women in Nepal for IFC. We looked at financial and non-financial barriers to accessing finance, and the credit gap, and recommended ways to develop their women-owned SME portfolio.
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  • We support the Trait d’Union Multicampus Multiquartiers social inclusion program run by the EM Lyons Business School in France which enables high school students to learn about business and undertake training otherwise beyond their reach.
  • As well as formal skills, young people need confidence and self-motivation to succeed. In the UK, the ThinkForward initiative we co-founded has developed a bespoke mentoring program which bringing our graduates together with young people most at risk of becoming NEET (not in education, employment or training).
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EarthWatch ambassadors

Since 2008, EY has workedi with the EarthWatch Institute, an international not-for-profit organization engaging people worldwide in scientific research and education around sustainable living. In 2013 EarthWatch ambassadors from EMEIA Financial Services went to India for a week-long expedition helping two entrepreneurs research the effects of climate change on the Hosur forest.

Eco-champions

Many of our people are passionate about reducing our environmental impact. Our eco-champions work to increase awareness and implement initiatives within our offices and on project teams. Our UK office has enlisted ’environment champions’ on every floor to educate their peers about reducing waste and energy use.

Ideas Bank

For the second year running, EMEIA Financial Services conducted a competition asking our people for original and practical ideas to help EY reduce its environmental impact. Almost 100 ideas were submitted, from local initiatives, to EMEIA-wide ideas, encouraging people to make a difference.

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