Deloitte reports FY2020 revenue

With the uncertainty of the COVID-19 crisis as well as other major societal challenges stemming from systemic racial injustice, social inequality, climate change, and economic disruption, the pathway to “thrive” is likely to be more arduous and lengthier than many originally envisioned. Creating a better normal will require re-establishing trust in the institutions and systems that form the basis of civil societies and delivering positive societal change.

Respect and inclusion

Deloitte is addressing systemic racism and injustice by redoubling our efforts to advance respect and inclusion[10]. By deliberately focusing on everyday behaviors, we strive to maintain a culture where all of our people feel included and respected, and where diversity is embraced in all its forms. This commitment also includes working towards gender parity throughout the career lifecycle; advancing LGBT+ inclusion and allyship; and expanding mental health resources to support our people in normal and extraordinary times.

Climate change

Deloitte believes that urgent and immediate action is needed to reach the goals of the Paris Agreement. To expand our commitments, we developed two additional programs that seek to drive responsible climate choices within and beyond our organization. The two pillars of our climate strategy include:

First, through a global, strategic service offering, we will provide an expanded suite of professional services and insights to help clients respond and adapt to the challenge of climate change across their business value chain. We are developing the tools, models, and insights that will empower our clients to think and act differently: from the formulation of strategy to operational decision making to disclosure reporting requirements. We want to help our clients contribute to a better society and give them the right tools to avoid the high risks associated with inaction.

Second, through WorldClimate[11], we are committing to achieving net-zeroemissions by 2030, “operating green,” and extending our impact beyond Deloitte. Through WorldClimate, we will focus on four elements:

  • Net-zero by 2030: We commit to achieving net-zero greenhouse gas emissions by 2030 for our own operations, ahead of the 2050 timeframe set by the Paris Agreement. Specific goals include reducing business travel; sourcing 100 percent renewable energy for our buildings; converting 100 percent of our fleet to hybrid and electric vehicles; and engaging with our major suppliers to adopt science-based targets. We will invest in market solutions for emissions we cannot eliminate.
  • Operating green: We will align our climate policies, practices, and actions across our organization by designating a senior leader to be responsible for climate in each geography; prioritizing discussion of climate change on executive agendas; and embedding climate-smart considerations into decisions on office operations, real estate, and investments.
  • Empowering individuals: By engaging and educating our employees on climate change impacts – decisions about what they consume, use, and buy – we will enable our people to make positive climate choices at home and at work, with the aim that they will thus amplify their learnings through their personal networks.
  • Engaging ecosystems: We will collaborate with clients, alliance partners, NGOs, industry groups, suppliers, and others to address climate change at a systems and operations level.

“Mitigating the impacts of climate change is a monumental task. Yet, we know progress is possible if we act collectively,” says Renjen. “While it is essential that everyone – from governments to NGOs to individuals – act to protect our planet, we believe businesses, including Deloitte, can play a key role by addressing our own operations, innovating new solutions to old ways of doing business, and influencing and assisting others to act.”

WorldClass

In FY2020, Deloitte expanded the reach and impact of WorldClass[12], our global societal impact initiative. Through WorldClass, our people are giving their time – now virtually in most cases – to help develop job skills, improve educational outcomes, and expand opportunities with the goal of reaching 50 million people worldwide by 2030. This year, we invested US$265 million in local communities around the world. Through WorldClass initiatives, we reached 7.1 million individuals in FY2020 for a total of 11.7 million since launching the program three years ago.

WorldClass initiatives include the development of a scholarship program in Mexico[13] in under-served areas to help teenagers earn a college education; a program in the UK to help bridge the digital skills gap in collaboration with Ada[14]; and the RightStep initiative[15] in the US to help students overcome the obstacles they face on their path to college readiness.

“At Deloitte, we’re committed to applying what we’ve learned—throughout our history and especially during the pandemic—to meet this moment and help our people, clients, and communities emerge from it even more resilient,” says Renjen. “We want to reimagine and create a better world—one where organizations are flexible and prepared for the next crisis; where people and technology bring out the best in each other; where alliances are built to solve problems; and where organizations are trusted.”

To learn more about Deloitte’s societal impact and FY2020 performance, please read our 2020 Global Impact Report[16].

*5.5% total revenue growth is based on continuing operations. Revenues from businesses sold in FY2019 have been excluded from FY2019 numbers, which have been adjusted from the figure published in September 2019. Without this adjustment, FY2020 total revenue growth, in local currency, is 4.7%. 

Note: All growth rates presented in this press release are in local currency terms unless otherwise specified.

About the Deloitte societal-impact commitment

Deloitte’s purpose, to make an impact that matters, compels us to act on the increasingly complex challenges society faces today. We are committed to responsible business practices, serving the public interest and working to create a better, more sustainable world for people, our clients and the planet.

Through WorldClass we aim to develop job skills, improve educational outcomes and expand opportunities for 50 million people worldwide by 2030. Our WorldClimate strategy sets out our approach to achieve net-zero emissions by 2030 and engage our professionals and collaborate with our clients to address the climate crisis. Our ALL IN diversity, equity and inclusion strategy supports a culture where all Deloitte people have equal opportunities to grow, develop and succeed.

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