Ernst & Young LLP, commonly known as EY, is a multinational professional services firm headquartered in London, United Kingdom. With a global network of over 300,000 employees across 150 countries, EY provides assurance, tax, transaction, and advisory services to a diverse range of clients, including corporations, governments, and non-profit organizations. In the United States of America, EY operates as Ernst & Young LLP, with its headquarters in New York City.
As the world grapples with the challenges of climate change and the urgent need for decarbonisation, EY has been at the forefront of driving sustainability and environmental responsibility in the corporate world. The firm has made a commitment to reduce its own carbon footprint by 40% by 2020, and to become carbon neutral by 2025. EY has also set ambitious targets for its clients, helping them to reduce their greenhouse gas emissions and transition to a low-carbon economy.
One of the key ways in which EY is driving decarbonisation is through its corporate energy services. EY helps its clients to develop and implement energy management strategies that reduce energy consumption, increase efficiency, and lower costs. The firm provides a range of services, including energy audits, energy benchmarking, and energy performance contracting. EY also helps its clients to identify and implement renewable energy solutions, such as solar, wind, and geothermal power.
Another important area of focus for EY is corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a corporation and a renewable energy provider, in which the corporation agrees to purchase a certain amount of renewable energy at a fixed price over a set period of time. Corporate PPAs are a powerful tool for companies looking to reduce their carbon footprint and meet sustainability goals, while also locking in stable energy prices and reducing their exposure to volatile energy markets.
EY has been a leader in the corporate PPA market, helping its clients to navigate the complex legal, financial, and technical aspects of these agreements. The firm has worked with a wide range of clients, from small and medium-sized enterprises to large multinational corporations, to develop and implement successful corporate PPA strategies. EY has also been a vocal advocate for policies that support the growth of the corporate PPA market, such as renewable energy mandates and tax incentives.
Renewable energy is another key focus area for EY. The firm helps its clients to identify and implement renewable energy solutions that meet their specific needs and goals. EY provides a range of services, including feasibility studies, project financing, and project management. The firm has worked on a wide range of renewable energy projects, from small-scale solar installations to large wind farms and hydroelectric facilities.
EY has also been a leader in the development of innovative renewable energy solutions. The firm has worked on projects that integrate renewable energy with energy storage, smart grid technologies, and demand response programs. EY has also been involved in the development of new renewable energy technologies, such as wave and tidal power.
In conclusion, EY is a global leader in professional services, with a strong commitment to sustainability and environmental responsibility. The firm is driving decarbonisation through its corporate energy services, corporate PPA strategies, and renewable energy solutions. EY is helping its clients to reduce their carbon footprint, meet sustainability goals, and transition to a low-carbon economy. As the world continues to grapple with the challenges of climate change, EY is well positioned to play a leading role in driving sustainability and environmental responsibility in the corporate world.