TORONTO, Jan. 29 /CNW/ - PricewaterhouseCoopers LLP (PwC) has acquired
Sustainable Finance Limited (SFL), an international advisory firm focused on
environmental and social risk management in the financial services sector.
In a move that adds further value to the services already provided by
PwC's sustainability team, the acquisition brings in-depth expertise to help
clients identify the impacts, mitigate investment risk and capitalize on the
mega trends of climate change that will impact business performance including
carbon markets, water usage, labour movements and biodiversity.
Bringing an established reputation and specific expertise in the
financial services sector, SFL will integrate with the established PwC
sustainability and climate change team. The SFL helped develop the Equator
Principles in 2003, the international industry standard for managing
environmental and social risks in project finance.
More recently SFL was instrumental in developing the Carbon Principles,
the climate change guidelines for evaluating and addressing carbon risks in
the financing of electric power projects in the US, as well as work with the
financial services sector in Canada.
"We are committed to establishing PwC as the leading provider of
sustainability services to the market, and this deal with SFL is a
demonstration of this intent," says Mike Harris, leader of the Canadian
Sustainable Business Solutions group. "We believe it is vital for us to
accelerate our investment in these client services. We are delighted that the
SFL team are joining us and further enhancing our existing team."
According to George Sheen, leader of the PwC Financial Services practice
in Canada, "Combining PwC's financial services expertise and skills in
sustainability with SFL's deep capabilities provides a unique value
proposition for our clients. In Canada, financial services companies are
thoughtfully evaluating these newer risks that they face; enhancing their risk
assessment frameworks; and implementing new, comprehensive methodologies that
can help them protect their most valued asset - their reputation."
PwC has a 17-year track record of advising clients on sustainability and
corporate responsibility issues across its assurance, tax and advisory
practices. In the past 18 months, the dedicated sustainability and climate
change practice has grown as a global team to over 700 practitioners.
In 2008 PwC was appointed the global advisor and report writer to the
Carbon Disclosure Project (CDP). As such, we analyze company responses to the
flagship CDP survey, measuring companies' investment in and preparation for
climate change to produce the Global 500, FTSE 350 and S&P 500 reports. PwC
also offers strategic advice, including support and expertise on areas such as
carbon emissions and climate risk reporting, carbon accounting systems and
PwC works with clients to develop sustainability strategy, performance
management and reporting solutions including corporate governance and business
ethics, environmental health and safety management, social responsibility,
strategy and economics, responsible supply-chain management, and reporting and
assurance of non-financial information.
For more information, please visit http://www.pwc.com/ca/sustainability
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance,
tax and advisory services to build public trust and enhance value for its
clients and their stakeholders. More than 155,000 people in 153 countries
across our network share their thinking, experience and solutions to develop
fresh perspectives and practical advice. In Canada, PricewaterhouseCoopers LLP
(www.pwc.com/ca) and its related entities have more than 5,200 partners and
staff in offices across the country.
"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, an Ontario
limited liability partnership, or, as the context requires, the
PricewaterhouseCoopers global network or other member firms of the network,
each of which is a separate and independent legal entity.
For further information:
For further information: Carolyn Forest, PricewaterhouseCoopers LLP,
(416) 814-5730, firstname.lastname@example.org; Nina Godard, PricewaterhouseCoopers
LLP, (416) 941-8383 x 13520, email@example.com