EY, formerly known as Ernst & Young, is the first Big Four accounting firm to announce plans to reach carbon neutrality globally, by the end of 2020.

In a company statement, EY said it will focus on reducing travel emissions, follow sustainable procurement practices and increase renewable energy procurement from sources like wind and solar to power their offices worldwide.

The statement also said it is anticipating the need to purchase carbon credits, and invest in projects such as reforestation that can help emissions.

It is not yet clear whether the announcement will have a relatively higher impact on EY Malta, in view of the island being cut-off from mainland Europe, necessitating more plane travel.

EY gave an overview of previous steps taken to reduce its carbon footprint, such as designing an environmental strategy that aligns with the UN Global Compact, issuing a global environmental statement in FY18 establishing responsibility for minimising negative effects, working with hotel suppliers to lower emissions from EY employees, introducing global supplier code of conduct and procurement environmental criteria.

The other Big Four firms – Deloitte, PwC, and KPMG – have all presented different strategies for reducing climate emissions.