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

•

•

•

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.

•

•

•

Performance

•

• •

•

sustainability agenda.•

how likely they were to recommend us to a

•

•

8.3/10clients likely to recommend us

87%

Performance

•

•

•

•

• mobility assignments.

Performance

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•

•

•

•

•

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