Deloitte Invests $1 Billion Into Expanded Sustainability Practice

Deloitte has devoted substantial funding and talent to elevating the human experience, rolling out several Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) offerings to its clients, as well as engaging with over a dozen Fortune 100 companies on projects in those areas. The firm’s 20-year focus on climate and sustainability is continuing, with Deloitte recently announcing a $1 billion investment in efforts to help companies define and achieve their climate and sustainability goals.

The firm will be expanding the Deloitte Sustainability and Climate practice in order to assist companies in developing sustainability strategies, meeting tax and compliance requirements, and speeding transitions across the enterprise. The increased investment and expanded network will provide not only assets and capabilities, but data-driven research as well.

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Part of the firm’s investment will go toward establishing the Deloitte Center for Sustainable Progress, which will work with business, academic, and governmental organizations to develop thought leadership and results-oriented research. Deloitte will also offer sustainability courses to its 345,000 global employees as well as to clients and suppliers through its network of Deloitte Universities.

“Deloitte is committed to helping clients move from sustainability and climate commitments to action,” said Jennifer Steinmann, the executive tapped to serve as the first Deloitte Global Sustainability and Climate leader. “We will do so by working with organizations to create a transformation plan as well as helping drive collaboration across a broader ecosystem of suppliers, clients and customers, policymakers, and alliance partners across industries.”

A survey earlier in the year found that nearly 60% of business leaders saw data as an important factor in the transparency and improvement of ESG efforts, while 21% indicated they had a working group focused on their ESG initiatives. A further study concluded that rapid decarbonization could cause a $3 trillion gain to the U.S. economy, but that climate inaction could cost $14.5 trillion over the next 50 years.

As organizations across the globe look for support in meeting the aggressive goals necessary to stave off the worst effects of climate change, consultancies such as Deloitte will likely continue to be at the forefront of developing and implementing strategies to preserve the planet.