How can today's actions create sustainable value for tomorrow?

As we look back at FY22, we cannot help but reflect on the significant changes we have collectively experienced. Geopolitical conflict, public health crises and economic challenges reshaped how we live and work. During this period of transition, the global EY organization maintains a steadfast commitment to our purpose of Building a better working world and focus on creating long-term value for our people, society and clients.

Now, more than ever, we see that businesses drive positive change when we serve our stakeholders’ interests. Since these changes affect us all, not just our organization and clients, we are working diligently to engage others in our journey to create sustainable, inclusive growth, moving from ambition to action.

Creating an exceptional experience for our people

We recognize that our people are the heart of our business. The insights and services we provide, the innovative technologies we develop, and the transactions and strategic transformations we support are only possible thanks to the hard work, ingenuity and commitment of our people.

Therefore, we continue to invest in a robust set of programs to help attract and retain talent, encourage our people to prioritize wellbeing, support dynamic learning and development opportunities, and create an inclusive environment where people of diverse backgrounds and points of view can thrive. In FY22, we made tremendous progress in delivering against these priorities. The US firm invested over $100 million in learning opportunities, including the EY Badges program, which offers more than 250 badges across topics like technology, sustainability and leadership. In addition to the compensation and recognition programs, and time off and flexibility, the EY Better You initiative offers access to dozens of carefully curated resources to provide our people with physical, emotional, financial and social support. Last year, 82% of EY US employees took advantage of the EY Wellbeing Fund, reimbursing the cost of gym memberships, exercise equipment, ergonomic home office furniture and more.

Delivering an exceptional experience for our people is our top priority, and we are honored to receive recognition for our efforts. EY US was named one of Fortune magazine’s 100 Best Companies to Work For® list for the 24th consecutive year, PEOPLE 100 Companies that Care® list for 2022, and the US 2022 LinkedIn Top Companies list.

Although FY22 was marked by challenges that significantly impacted our people, including the continued impacts of COVID-19, we have collectively supported each other and adapted to help ensure we thrive professionally and personally. Thanks to the resilience of our people, we have emerged stronger as an organization and better able to serve our clients.

Contributing to society, strengthening our communities and protecting the planet

Inspired by our purpose of Building a better working world, we take our role in society seriously and continue actively supporting and getting involved in the communities where we work and live. Through EY Ripples, our global flagship corporate responsibility program, the US firm positively impacted 4 million lives with our volunteering efforts, focusing on environmental sustainability, impact entrepreneurs and next-generation skills development. We also directly support Black and Hispanic/Latino business leaders through the EY US Entrepreneurs Access Network. We’re recognizing and advising ambitious women entrepreneurs through Entrepreneurial Winning Women™ and supporting broader entrepreneurs across the US through the Entrepreneur Of The Year® program.

Like many of our clients, we have made ambitious climate commitments to protect our planet. The global EY organization became carbon negative in 2021, and we aim to reach net zero by 2025. In the US, we continue to offset our entire office electricity footprint through virtual power-purchasing agreements. This past year, the global EY organization joined RE100, a global initiative bringing together the world’s most influential businesses committed to 100% renewable energy. We sponsor a 1,000-person strong Eco-Innovator community, an active internal network of environmental champions who help inform our priorities and drive action.

We recognize that achieving our ambitions requires a significant change in how we operate internally and serve clients. With this in mind, we established the EY Americas Sustainability and ESG leadership team and are now strengthening US governance and sponsorship for these efforts to accelerate our path.

Delivering long-term value for our clients

Our work with clients spans a broad set of services, providing insights that inform strategy and business decisions, driving technology-enabled transformations that create value, and conducting high-quality, analytics-driven audits that serve the public interest and build trust. In FY22, we proudly served more than 20,000 clients and delivered over 350,000 engagements. We continue to bring together multidisciplinary teams across our service lines, sectors and third-party alliances to meet our clients’ needs and help them adapt to a rapidly changing market landscape.

Given the profound challenges we face as a society related to the environment and the critical role that businesses can play, we are increasingly working with our clients to help them become more sustainable. In FY22, EY US worked with more than 2,300 clients on their sustainability journey and executed nearly 7,500 engagements.

In 2022, the global EY organization achieved recognition from Verdantix on its Green Quadrant: ESG & Sustainability Consulting report for the market-leading climate change and sustainability services we provide to our clients. The report highlights our broad spectrum of services, a globally consistent climate change and sustainability team founded more than 25 years ago, proprietary digital solutions, and skilling programs.

We also recognize that value-led sustainability is bigger than any one business. It is everybody’s business. We work across our stakeholders — teaming across industries, engaging with standard setters and building new alliances — to drive exponentially greater impact through collaborative action. We have extended our alliances with Microsoft, SAP, IBM, Enablon and ServiceNow to jointly address our clients’ sustainability-related needs.

While the journey ahead remains challenging, we are honored to support our clients as they deliver value-driven, sustainable outcomes for their stakeholders.

A record year and a look ahead

Our commitment to serving the best interests of our stakeholders has made us a more sustainable and successful organization and has created the foundation for exceptional growth, even during challenging times. In FY22, EY US revenues reached $19.2 billion, growing at 18%. Each day, 57,000 people across the US work to create more sustainable, inclusive growth through collaboration across our organization, industries, alliance partners, communities and government. In my first year as the EY Americas Area Managing Partner and EY US Chair and Managing Partner, I have been humbled and amazed by the impact we can achieve when we work together toward a common goal. I’m proud of the actions we have taken to drive sustainable growth, and I am excited to see more progress in the days and years ahead. Our EY Value Realized: 2022 US Progress Report provides highlights of these achievements, which also help inform our priorities going forward.