Climate Change and Sustainability Services
How EY can help
Our Climate Change and Sustainability Services team can help you navigate the complexities of climate change and sustainability matters, identify and capitalize on competitive advantages, increase operational efficiency and mitigate risk.
We provide assurance and advisory services that can transform your organization’s climate change and sustainability objectives into tangible benefits.
Our services are built on five pillars.
- 1. Climate Change Services
Climate change is now a part of our daily lives. It’s a reality to which businesses have to adapt by reducing air emissions, integrating new tools and leading practices on greenhouse gas (GHG) emission reductions and mitigating the risks brought by climate change.
In this post-COP21 era, climate change is a key business opportunity. We can support you with mitigating impacts from climate change by providing a comprehensive suite of services to help your organization navigate the risks and opportunities presented by climate change regulations, physical impacts and public policy.
Our key services:
Climate change risk/Adaptation and resiliency
Climate change brings not only risks, but opportunities. Leaders who understand the economic imperatives of climate change and swiftly adapt to them could reap significant value and benefits.
We can help you:
- Develop a climate change risk assessment and action plan.
- Develop decision criteria for critical infrastructure investment based on climate change risks
- Develop a climate change adaptation strategy based on key vulnerabilities
- Evaluate an adaptation program response
Our team has worked with numerous public and private sector clients to assess climate change risks and develop strategies to address these risks through adaptation and resilience measures.
For example, in collaboration with Natural Resources Canada (NRCan), we worked with mining companies with operations in Northern Canada to assess climate change risks and potential investment opportunities to create more resilient sites. We’ve also worked with several clients in banking and insurance to help them understand risks associated with climate change as well as other environmental, social and governance issues.
Key questions your company should consider when evaluating climate change risk and organizational resilience include:
- What is our physical exposure to climate change events?
- What is our most critical infrastructure?
- Is climate change currently on our risk register?
- What is our current level of preparedness for catastrophic climate change-related events?
Climate change strategy and policy
Governments around the world have committed to develop and align their policies to support the transition to a low-carbon economy. For businesses, creating effective internal strategies to support business goals and thrive in a carbon-constrained world is essential for long-term success.
EY can support your organization in developing comprehensive strategies or public policies that support climate change and sustainability goals, manage risk and optimize economic opportunities presented by climate change and carbon markets.
We can help you:
- Evaluate the economic/financial impacts of various carbon price schemes and/or policies
- Measure, manage and report carbon intensity from operations, projects or facilities
- Assess the lifecycle emissions of products/services/operations/projects
- Develop carbon strategies and marginal abatement cost curves
- Assess and model carbon asset risks in a 2°C scenario, such as business portfolio impacts and stranded asset risks
Our teams have experience in supporting our clients as they transition to lower-carbon operations.
Some key questions to consider when assessing your climate change strategy needs may include:
- Do you know what activities/facilities/areas of your business have the highest emissions?
- What is your organization’s financial exposure with respect to rising carbon prices in a 2°C scenario?
- Do you have a capital project plan that may be at risk in a carbon-constrained economy?
View our latest thought leadership on businesses’ perception on Carbon pricing.
According to an Ocean Tomo LLC study of the components of S&P500 Market Value, intangibles accounted for 84% of market value, up from 17% in 1975. According to EY’s latest report on the nexus between investment and climate change, more than 60% of investors consider sustainability data relevant when making portfolio decisions.
With our experience in the subtleties and synergies between environmental, social and governance (ESG) risks and financial impacts, we can:
- Advise on the development of responsible investment strategies for financial institutions (e.g., ESG integration, thematic or impact investing, shareholder engagement)
- Perform investment portfolio carbon footprinting and advise on strategies to manage carbon asset risks
- Advise on the planning, development, and issuance of green bonds
Some key questions to ask if you are considering exploring the opportunities in carbon finance include:
- Does your company have superior environmental performance and would you like to explore avenues to reap the benefits?
- Do you have a project, an infrastructure or a fund that could be eligible for Green Bond funding?
- Are you considering a new impact investment strategy that focuses on social investments?
Our team includes numerous CPA-accredited professionals with a particular focus on sustainability. EY is particularly active in the area of Green Bonds valuation and auditing.
Greenhouse gas reporting and compliance
As global leaders in Assurance services, EY applies the same rigour to climate-related disclosures reported internally or externally as we do in our financial audit approach. Using our team of accountants, engineers and scientists, we can provide assurance on climate change-related information for voluntary or regulatory purposes, such as GHG emissions, carbon offsets and ESG metrics.
Some key questions to consider if you are considering having your organization’s greenhouse gas emissions, emissions offsets or renewable energy credits verified by a third party may include:
- Do you have operations in jurisdictions with current or pending climate change regulations?
- Are you considering voluntarily publishing goals and targets related to greenhouse gas emissions?
- Are your investors asking questions about your emissions profile, carbon risks and emission reductions plans?
We can help provide advisory and assurance over GHG inventories and carbon offsets projects for both regulatory and voluntary objectives.
Since 2007 we have been providing GHG advisory and assurance to companies across Canada. Currently, the EY Climate Change and Sustainability Services team verifies over 70% of the GHG emissions in Alberta, over 80% and 40% of the GHG emissions in British Columbia and Quebec, respectively, in addition to verifying five of the top ten emitters in Ontario. We have technical expertise over Canadian regulations such as the Alberta Specified Gas Emitter Regulation, Ontario Regulation 452/02 – Greenhouse Gas Emissions Reporting, the British Columbia Greenhouse Gas Reduction (Cap and Trade) Act as well as Québec’s Règlement sur la déclaration obligatoire des contaminants dans l’atmosphère.
In Canada, we are accredited to the ISO 14065 – Greenhouse gases — Requirements for GHG validation and verification bodies for use in accreditation or other forms of recognition by the American National Standards Institute (ANSI). In addition, practitioners in our Canadian team are accredited lead verifiers for the California Air Resources Board (CARB) and EY is an accredited verification body under the CARB system.
If you are an EY client and have a dispute concerning any greenhouse gas validation or verification services provided to you under ISO 14065 that you have been unable to resolve through your EY engagement team, you may appeal in writing via email to Thibaut Millet. In the alternative you may write to him at “EY Climate Change & Sustainability Services Leader, 800 René Lévesque, Suite 1900, Montreal QC H3B 1X9.”
Following receipt of an appeal, selected EY personnel will be appointed who are independent of the appealed issue. Contact will be made to acknowledge receipt of the appeal, to outline the anticipated appeals process and gather and verify any additional information that is required. The results of the appeal will be communicated to you in writing.
Clients with complaints about EY’s greenhouse gas validation or verification services provided under ISO 14065 that cannot be resolved through their EY engagement team may submit complaints in writing via email to Thibaut Millet. In the alternative, clients may write to him at “EY Climate Change & Sustainability Services Leader, 800 René Lévesque, Suite 1900, Montreal QC H3B 1X9.”
Following receipt of a complaint, contact will be made to acknowledge receipt of the complaint in writing. EY will look into the matter and determine appropriate next steps, which may include following up with the complainant to request further information in order to better understand the concerns being raised. Results will generally be communicated in writing, as appropriate.
Many companies are assessing what they can do to prepare for the coming changes, to manage the disruption and to mitigate risks to their business plan, strategy and long-term viability.
EY offers industry knowledge, innovative approaches, climate change knowledge and regulatory experiences to help you navigate the risks and business challenges that a low-carbon economy may introduce.
We're pleased to offer our Climate Change and Sustainability Services team on an on-call basis. We can provide the support you need, when you need it. Our services can be tailored to your immediate needs, and we're flexible to grow with you as you move into the low-carbon future.
Our team offers you the following:
- An understanding of the complexities associated with climate change and sustainability regulations
- A multidisciplinary team with combined experience in assurance, tax, transactions and advisory services, with capabilities in climate change, engineering, environmental science and sustainability
- An independent and objective perspective - we can address your business concerns without driving a specific sustainability or climate change agenda
Sample on-call climate change and sustainability services
- Interpretation of regulations and assessment of impact on business
- Assessment of regulatory compliance obligations
- Facilitation of climate change workshops, strategy sessions, risk assessment sessions
- Drafting of communiques related to climate change
- Business case assessment, business case development or pre-work for larger initiatives related to climate change and regulatory matters
- Literature reviews, market research and benchmarking assessments
- Training and coaching in regulatory reporting and climate change matters
- Drafting or review of corporate climate change policy or disclosures (e.g., in MD&A)
- Support on the establishment of context-/science-based climate change goals and KPIs
- Methane reporting readiness assessment
- Review or development of carbon pricing models and carbon exposure risk assessments
- Assessment of financial impact of carbon tax and identification of potential exemptions
- Benchmarking of climate and carbon policies and programs
- 2. Sustainability strategy
Seizing the right opportunities for revenue generation and long-term stakeholder value creation requires integrating sustainability throughout your business activities. We can support you in moving from compliance to value generation at every step of your journey.
Our key services:
Effective integration of sustainability into your business
We know that to be successful and relevant, sustainability needs to be integrated into your existing processes and become a seamless part of your strategy and operations, as opposed to a standalone department.
We can help you:
- Develop corporate sustainability strategies that deliver triple bottom-line benefits to your company and to your stakeholders
- Qualify and quantify your organization’s or program’s positive impacts, using international leading practices such as Social Return on Investment (SROI) and Total Value assessments, among others
- Assist with mapping and prioritizing of key stakeholders and building effective engagement plans
- Conduct engagement campaigns to understand your stakeholders’ concerns and material issues for your organization
- Leverage your existing processes and structure to address material issues identified by your stakeholders and build long-term goodwill.
We can help you answer key strategic questions, such as:
- How can sustainability create optimal value for my company and my stakeholders?
- What are the most material sustainability issues and risks my organization should tackle?
- How can I optimize the return on investment of my sustainability strategy?
Over the years, we have supported numerous companies on their sustainability journeys, from sustainability “beginners” to sustainability-savvy high performers.
Assess environmental, social and governance risks as part of your operations and decision-making process
Environmental, social and governance (ESG) risks play a major role in today’s business decision making.
As an example, in our 2015 survey with investors, respondents indicated they would rule out or at least reconsider an investment if a company does not properly address these ESG risks: supply chain risks (88%), poor environmental performance (85%), human rights (83%), and resource scarcity such as water (82%).
Unfortunately, these risks are still largely misunderstood and generally not sufficiently investigated in business processes, operations and transactions.
We can help you:
- Assess and value ESG risks and opportunities in your business operations, due diligence process or investment portfolio
- Support your business to build appropriate risk-mitigation plans and implement them effectively throughout your organization
- During financial transactions, assess and value environmental liabilities and asset retirement obligations in compliance with applicable accounting rules
- Offer objective transaction execution advice, taking into account key ESG risk factors
- Highlight links between ESG risks and optimization of financial and tax benefits and accounting, taking account of climate change and sustainability-related grants and subsidies that may be available
We can help you tackle questions such as:
- Is my organization meeting environmental and social regulations as well as external expectations?
- What are the biggest current and upcoming ESG risks in my operations, or my investment portfolio?
- What strategies are available to my organization to address, mitigate and manage ESG risks?
- Do I have the right internal systems and processes to monitor ESG risks and address them proactively?
- 3. Supply Chain Sustainability Program Evaluation and Design
Today, businesses are held accountable for their indirect impacts as much as for their direct ones. Knowing the structure of your supply chain and the associated social and environmental risks is not a good practice anymore — it’s an imperative.
Our key services:
Map and assess socio-environmental risks in your global supply chain
In our interconnected world, ignorance is not an excuse for failing to identify, understand and tackle the social and environmental risks across your supply chain.
We can help you:
- Assess your organization’s relevance and conformance with regulatory and industry standards, such as the World Gold Council, the UK Modern Slavery Act and Dodd-Frank’s Section 1502 on conflict minerals, among others.
- Identify and assess the social, economic and environmental footprint and risks throughout your value chain.
- Develop and implement effective strategies to mitigate negative impacts and capitalize on opportunities.
- Build a compelling story for your stakeholders around your organization’s net value-add locally, regionally and internationally.
Our team of supply chain professionals will help you understand:
- What are the most significant environmental and social risks in our supply chain?
- Is our organization well equipped to tackle and manage these risks proactively?
- We have identified risks in our supply chain and want to manage them — where do we start?
EY has a vast network of professionals who meet regularly to discuss impacts throughout the supply chain as well as specific areas of focus such as human rights. For past publications on these topics, please visit Our Insights.
Advise on the environmental and social impacts of products and services
The products we use every day impact our societies and environment. Understanding these impacts, from cradle to grave, is the first step in managing them effectively and making informed choices about the production inputs, processes and outputs to reduce a given product’s overall footprint.
We can help you:
- Perform lifecycle assessments (LCA) and carbon footprints: analyze impacts of products or services from cradle to grave on GHG emissions, waste, water, etc.
- Build a responsible procurement strategy accounting for environmental, social and governance (ESG) risks.
- Develop and implement lean and green strategies in industrial operations using LCA and lean management techniques, leading to both operational/productivity and environmental impact improvements
- Integrate environmental lifecycle analysis in product development processes (eco-design) to improve products’ and services’ environmental footprint and foster eco-innovation
We can help you answer questions such as:
- Are the input materials of our product optimized?
- Can our production processes be more efficient?
- 4. Reporting advisory and assurance
Leading Canadian and international businesses are seeking new and effective ways of communicating ESG performance as stakeholders demand greater transparency to assess long-term value.
Whether you’re a novice or experienced sustainability reporter, our team can help you streamline and communicate your ESG information to your stakeholders with relevance, and in alignment with international industry practices. Our auditors can increase external stakeholders’ confidence in the information you publish.
Our key services:
Advise on sustainability reporting
Your reporting processes need to be focused, robust, data driven and aligned with your business objectives. They need to illustrate how your organization identifies and mitigates sustainability risks and, most important, how it creates value.
Using our multidisciplinary and cross-sector capabilities, we can:
- Assist you with the development of your short- and long-term sustainability reporting strategy and associated governance structures to enable efficient and effective reporting
- Undertake materiality assessments, including stakeholder consultations and identification of material issues, as well as building appropriate performance indicators into your business processes
- Develop metrics that matter, linking your business model to performance indicators that help you manage your strategy and the resources/relationships you depend on for success.
- Develop, produce and evaluate your sustainability and corporate responsibility reports, in alignment with industry practices and international frameworks, such as the Global Reporting Initiative, the International Integrated Reporting Council (IIRC) framework and the Sustainability Accounting Standards Board (SASB).
- Advise on the streamlining of your financial and ESG reporting and disclosures to increase efficiency and reduce costs.
We can help you tackle strategic questions, including:
- Are our disclosures complete and do they cover the topics most material to our internal and external stakeholders?
- Is our organization effectively communicating its ESG and financial performance?
- Is the value creation process linking ESG and financial performance clearly communicated?
- Is our sustainability reporting process efficient? Can it be optimized?
EY has been closely involved in the development of international frameworks such as the Global Reporting Initiative and the Integrated Reporting framework developed by the International Integrated Reporting Council. Examples of initiatives that we have been actively supporting in the past include
- International Integrated Reporting Council (IIRC) Business Network
- IIRC’s Technology Initiative
- IIRC’s Competency Matrix Initiative
- IIRC’s Value in an Integrated Report white paper
- American Institute of Certified Public Accountants (AICPA)’s background paper on Materiality in an Integrated Report
- Global Reporting Initiative’s (GRI) Reporting 2025 sponsor
- Sustainability Accounting Standards Board (SASB) Semiconductor Industry SASB Technology Hardware Industry
- SASB Assurance Task Force
- World Business Council for Sustainable Development Redefining Value: A look at the future of assurance
In addition, our Canadian team includes GRI-certified practitioners.
Provide assurance on ESG information for voluntary or regulatory purposes
As global leaders in Assurance services, we apply the same rigour to ESG metrics and information reported internally or externally as we do to our financial audit approach. Even when such reporting is voluntary, a third-party audit reinforces stakeholders’ confidence in the published data and reinforces the reporter’s transparency and commitment towards sustainability.
Using our team of accountants, engineers and social scientists, we can:
- Provide assurance on your ESG information for voluntary or regulatory purposes, such as green bonds, conflict minerals, corporate responsibility reports and more.
- Assess the suitability of criteria used for the measurement and management of ESG performance indicators in accordance with relevant accounting standards and global frameworks, such as the Mining Association of Canada’s Towards Sustainable Mining Program and the Dodd-Frank Wall Street Reform and Consumer Protection Act – Section 1502 on Conflict Minerals.
- Complete internal audits and risk assessments of climate change and sustainability considerations, including impacts of upcoming environmental regulations, social risks, environment, health and safety risks
Our team can help you answer:
- Is our reporting of ESG information compliant with relevant regulations or voluntary industry frameworks?
- Can we trust that the data we report publicly is free of mistakes?
- How can we improve the robustness of our current reporting process?
Our Climate Change and Sustainability Services team has numerous accreditations to audit ESG information:
- Practitioners in our teams across Canada are accredited “Towards Sustainable Mining” Verification Service Provider.
- In addition, we are an Approved Service Provider for the London Bullion Market Association
- 5. Environmental, health and safety performance and technology enablement
Effective management of environmental, health and safety (EHS) performance can reduce costs, mitigate risks and ultimately improve your business performance.
EY’s Climate Change and Sustainability Services are dedicated to make a cleaner, healthier and safer working world. To do so, we can benchmark your organization with your peers, assess your past EHS performance and define a compelling climate change and sustainability strategy. We can help you evaluate and effectively manage your strategic risks and embed sustainability in your operations so as to create additional value for you and your stakeholders.
Our key services:
Support the implementation of effective HSE corporate programs
Establishing and sustaining HSE excellence through a positive culture supported with a strong systematic approach is a challenging journey for organizations.
We have a proven approach and methodology to help organizations implement robust HSE strategies and systems to help you mitigate risk and create sustainable change.
Our team of experienced HSE practitioners can:
- Undertake maturity assessments of your leadership, organizational culture and management systems
- Help you assess the HSE risks in your operations, evaluate how effectively these are managed and identify areas for improvement
- Evaluate the level of compliance to regulatory and recognised HSE management systems
- Support you in the implementation of an effective HSE structure and the integration of an HSE culture across the organisation
- Assess, understand and design HSE visions and strategies for the future and through transition such as M&A activity
We can help you answer strategic questions such as:
- Do we really understand our major HSE risks and how robust our mitigation strategies are?
- How can we implement a corporate culture of health and safety continuous improvement?
- Is our HSE function efficient, optimized and aligned with our operations?
- Are our leaders and employees actively engaged with our safety culture and program?
- How can we maintain and improve HSE performance given our current resource constraints?
In addition, practitioners on our Canadian teams are accredited auditors in ISO 14001, 9001, 20000, 27001, and 27018.
Environmental, health and safety and sustainability technology enablement
Complex regulatory requirements, cost constraints and heightened stakeholder demands are putting companies under pressure to improve their environment, health, safety and sustainability (EHS&S) performance.
As a result, many companies are rethinking how technology can better support their EHS&S function and are re-deploying their non-financial data management capability. Today’s complex EHS&S software market prompts EHS&S professionals with many questions — whose answers typically reside outside their core competencies.
We support our clients from all industries to:
Plan: Define and implement effective business strategies in climate change, environment, health and safety and sustainability.
Manage: Collect, manage and analyze relevant EH&S and sustainability data in order to optimize corporate decision-making and publicly report in compliance with international sustainability leading practices.
Improve: Optimize corporate programs around EH&S, sustainability, risk management and supply chain, including information systems integration; as well as conduct internal due diligence and audits on performance.
We can help you tackle complex and strategic questions such as:
- Which technology solution is right for our organization?
- How does an IT investment support our organization’s EHS&S journey?
- What’s the business case for investing in non-financial data management and how can we build this business case for our organization?
Thanks to our experts and in-house research, we have an in-depth understanding of several dozen commercial platforms. We help our clients make informed choices about how to optimally make us of technology in their ESG decision-making. In addition, we create alliances with leading global software platforms to meet the needs of our clients in all industries and deliver highly adapted solutions.
| Thibaut Millet |
514 879 2846
| Meghan Harris-Ngae |
Western Market Leader,
403 206 5030
| Susan McGeachie |
Central Market Leader,
416 943 3882
| Christine Rhodes |
British Columbia Market Leader,
604 891 8435
Contact a member of our team.
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