EY Canada buys sustainability consulting firm AFARA
EY Canada has acquired sustainability consulting firm, AFARA, to deepen existing resources and expertise in sustainability, and environment, social and governance (ESG) services.
The company has been providing ESG and sustainability services for nearly 20 years, and now with AFARA joining the EY-Parthenon practice, the firm will provide clients with enhanced end-to-end services that address the increasing ESG challenges organisations face today.
Businesses around the world are now embracing societal change and sustainable development as road maps to long-term success — and we are excited to play a role in that journey. At the end of the day, sustainability is everybody's business. With AFARA, we look forward to helping clients build resilient, sustainable companies and economies, while furthering the energy transition," says Kent Kaufield, Chief Sustainability Officer and ESG Markets Leader at EY Canada.
Reducing carbon emissions
In 2021, EY delivered on its goal to became carbon negative globally, a significant step toward achieving its ambition of becoming net zero by 2025. And earlier this year, EY, in association with Hult International Business School, announced a fully accredited, free Masters in Sustainability for all EY people.
"From setting greenhouse gas reduction targets, to turning carbon dioxide pollution into valuable products and scaling up transformational recycling technologies, we're helping leaders reframe their sustainability strategy to help protect and create value for business, people, society and the world. This investment is a testament to firm's commitment to accelerating climate action, and empowering its people and clients do the same," says Dave Rogers, Canadian Strategy Leader at EY-Parthenon.
EY is delivering its four-point carbon ambition, launched in January 2021, and continues to actively reduce its absolute emissions in line with its Science Based Targets Initiative (SBTi) validated 1.5°C pathway. This will bring EY to the more ambitious target of net zero in FY25, requiring EY teams to reduce their emissions in line with its approved science-based target, while continuing to offset more carbon than the remaining balance.
"Both EY and AFARA have track records of helping clients navigate their ESG journeys as they work towards setting, meeting and reporting on key targets that build trust with stakeholders and capital markets. There is no doubt that we are about to accelerate and magnify our combined impact by joining forces. This is such an exciting milestone," says Dan Zilnik, President at AFARA.