Our journey towards sustainabilityEMEIA Financial Services Sustainability Report 2015 Executive summary
Building a better working worldAt EY, we are committed to building a better working world through increased trust and
with our communities.
Contents
Welcome 1
Understanding materiality 4
Our clients 5
Embedding sustainability
Our people 10Valuing D&I 11
Our communities 14
1
Running through our organization is
where the “new normal” is accelerated
our sustainability knowledge as an organization, we increase our
better, which in turn makes the world work better.
Welcome
•
•
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Andy Baldwin
EY at a glance
EY FS sectors — centers of excellence:• • Insurance• Wealth & Asset Management
*Countries
the United Kingdom
EY Global
154212,000700+
EY EMEIA Financial Services (FS)
14*10,32569
should make the working world
Across our three stakeholder
commitments that are
external recognition.
Performance snapshot
Our clients
External recognition
•
• Customer Relationship Management (CRM) magazine
Elite Distinction.•
• Year in France and Portugal.
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•
•
Performance
•
• •
•
sustainability agenda.•
how likely they were to recommend us to a
•
•
8.3/10clients likely to recommend us
87%
Performance
•
•
•
•
• mobility assignments.
Performance
•
•
•
•
•
•
External recognition
• EY’s “Women. Fast forward
•
•
•
External recognition
•
•
• •
• Year in Ireland.
•
• •
EY UK.
Our people
Our communities
US$1.14mcharitable donations across our markets
7,475
31%
women
44%arrangements
4
Understanding materiality in FS
in the below matrix.
Stak
ehol
der
inte
rest Monitor Manage Priority
Our materiality matrix
Low High
Future impact
8.
14.
7.
2.3.
1.
4.
5.
6.
13.
10.11.
12.
9.
15.
16.
and retaining talent
11. Financial inclusion
14.
1.
4.
Monitor
Manage
Priority
Stakeholder engagement process
methodology
research conducted
and external stakeholders
Methodology •
interest•
•
urbanized, connected and
Landmark events impacting the industry
COP21
who negotiated a global agreement on
Sustainable Development Goals (SDGs)
industry has begun assessing the integral
• Goal 5
• Goal 7
• Goal 13
change risks
US$6t
Our clients
their decision making.
Christina Larkin
EY is working with regulators
across our markets,
the sustainability agenda
economies onto a more sustainable
1. Regulatory compliance
business structure, resilience and
Regulatory challenges ahead
•
•
•
New regulation and legislationAlongside these challenges, new
•
•
1Regulatory
4
35
2
change risk
6Digital
and
technology
Key drivers: materiality top issues
Regulating from within
Our material issues
disclose how they are addressing such
To read more, search EY Tomorrow’s Investment Rules 2.0
ethics and integrity must be addressed
commitment to change. These
attracting and retaining talent, greater
Behaviors need to change
their culture
75%
change is a work
81%
organizational culture, risk
83%
80%
that boards should
79%are “essential” or
indicate that issuers 2/3
holdings due to stranded asset risk
1/3
2. Environmental, social and governance (ESG) and climate change risk
3. Culture, ethics and integrity
5. Governance and risk
Through the materiality assessment
•
•
•
Patricia Jackson
4. Trust and transparency
and anger with how the industry is run.
in the sector.
If trust is the issue, is enhanced reporting the answer?
encourages integrated thinking.
among their stakeholders, and, by extension, across the industry.
Sustainable remuneration
67%cite conduct
89%
57%
To read more, search EY Rethinking risk management
research conducted
ey.com/sustainabilityreportEMEIAFS.
CybersecurityMany organizations underestimate
Global Information Security Survey 2015
FinTech
EY has brought together our Financial
industry, and our EMEIA FinTech team has been commissioned by the UK’s Treasury to conduct a global benchmark
Digital transformation
and engage with their customers in the
David Ebstein
Embedding sustainability in core services
88%
organization’s needs
6. Digital innovation and disruptive technology
Advisory• • • • • Materiality assessments and stakeholder analysis• •
TAS• • • •
Assurance• • • • • • •
Tax• • •
• • • •
EMEIA FS achievements for 2015
44%working arrangements, exceeding
10%
5%
67%engagement was recorded
15%increase in
international assignments: 457 in 2015
Recruiting the best talent
committed to hiring the best, ensuring
Developing a global mindset
sectors, so we need to seamlessly meet its needs. We encourage international
Our people
11
Valuing diversity and inclusiveness (D&I)
in the broadest sense, whether that’s background, race, ethnicity or age, among others.
Our D&I prioritiesEquip our people to lead inclusively
hiring managers and HR teams.
Strengthen the leadership talent pipeline
Work closely with clients and peers to drive change
and Portugal.
Ensure we equitably reward our people
their contributions to business success,
31%
22%
is the time to commit to genuine action to close
and we shouldn’t wait on this one.”
Zaina Ahmed Karim
broadest sense, whether that’s background, race, ethnicity or age, among others.
Empowering through learning and leadership
Learning through formal programs
associate directors, while also
Changing career patterns
• The senior manager career framework
• Our Industry Talent Program,
our senior managers the best chance
• Our Former Partner Network
and market contacts to aid in their
46 92% engagement with our learning
learning outcomes:
The only way to be our best is to include our best. That means we need to include the whole
thing. It’s the right thing. And it’s the only way to succeed in today’s global economy.
Mark A. Weinberger
ey.com/sustainabilityreportEMEIAFS.
Leadership. We want to create role
changing our culture, so our initial
Talent of the future — our “Talent 2020” strategy
our leaders and our organization as a whole.
Leadership
Culture
Development
career management.
123
working habits
Role Models
Culture.
Development. We understand that our
management system is grounded in
14
Our communities
Jonny Plein
At EY we recognize that building a better working world goes beyond our business.
community has recognized businesses’ role in building a more sustainable and
We know that our greatest asset is
challenges within the communities in
1%
7%
Enabling a
society
tomorrow, today
Measuring our impact
dedicated to monitoring and
1hr11 hours
donated to charitable causesUS$1.14m
Entrepreneurship
and globally.
Incubators
Network for Teaching Entrepreneurs (NFTE), EY Netherlands.
the Netherlands to teach young
Collaborating with Europe4Startups, EY Luxembourg.
1,400 12
140 9
in two years6 secondments
International development
to organizations that wouldn’t ordinarily be able to work with
Pro bono
Youth Business International (YBI)
and member organizations worldwide.
France ‘pro bono missions’
addition, EY collaborated with the Pro
to building a better working world.’
Mamen Ros
The EY Vantage Program
Understanding our EMEIA FS impact
Matthew Hobson
as leaders while working outside their
characteristics that enable the
young students gain access to higher
build their own businesses through
Find out more at ey.com/vantage
5 years 82
placements
20 countries
management hours
7,000
20,000US$3m
The World Bank, Solutions for Youth Employment
The strength in the EY Vantage Program is that
together. I learned more
Alistair Bance
Developing the leaders of tomorrow, today
ey.com/sustainabilityreportEMEIAFS.
Financial literacy
communities we work in by teaching
we do is using our core
institutions and other
with such clients is a
Justina Alders-Sheya
assets under management
US$4bMore than
institution clients
20m
Minimizing our environmental impact
managing and, ultimately, reducing
20%increased our total carbon emissions by
0.1%9.7%
increased our total carbon emissions
About EY EY is a global leader in assurance, tax, transaction
EY is a leader in serving the Financial Services (FS) industry.
markets, insurance, and wealth and asset
better the answer. The better the world works.
they were made.
Minimizing our impact: digital and responsible
ey.com/sustainabilityreportEMEIAFS.
emissions.
EY
Further information:
Beth Knight
Shipra Gupta
Nicola Ruane