PwC’s 2024 Report: Strategic Growth, AI Investment, Net-Zero

PwC’s 2024 Global Annual Review highlights the company’s achievements, strategic innovations and ongoing commitment to sustainability as it adapts to a future defined by climate goals and advanced technology.

This year’s review reflects a balance between robust financial performance, tech-driven client solutions and a proactive approach to lowering carbon emissions.

PwC’s focus on emissions reduction complements its drive for commercial growth—and how the company plans to advance these aims.

Financial performance and regional growth

PwC recorded significant financial growth in 2024, with global revenue rising 3.7% to reach US$55.4 billion. This growth, however, varied by region, mirroring the unique economic conditions and priorities in each area:

• Europe, Middle East and Africa (EMEA) led the way with an 8.6% revenue increase.
• Central and Eastern Europe (CEE) followed, growing by 5.5%.
• The Americas reported a 3.4% rise, including a 2.9% increase in the US.
• Asia Pacific experienced a 5.6% decrease, facing challenges in this region.

This growth is supported by PwC’s extensive client base, which includes 86% of the Fortune Global 500 companies. PwC’s network spans 149 countries and 656 cities, where it serves over 180,000 clients with the help of its 370,000 employees.

Innovation and AI-driven client solutions

Investing in innovation remains integral to PwC’s approach. The firm has channelled US$3.6bn into initiatives designed to improve client services, including eight acquisitions and seven strategic partnerships this year. Nearly US$1.5bn has been dedicated to developing and scaling artificial intelligence (AI) solutions that enhance data-driven insights and streamline efficiencies across PwC’s global network.

Among these AI-focused projects is ‘ChatPwC’, an AI platform designed to improve internal communication and collaboration. Launched in 2024, ChatPwC serves over 200,000 employees globally, allowing them to access information quickly and support clients with enriched insights. By integrating AI at this scale, PwC is transforming workflows across teams and positioning itself at the forefront of technological change.

With these advances, PwC also acknowledges the environmental impacts tied to growing AI use, such as energy demands and data centre capacity. As AI continues to shape PwC’s operations, the firm is mindful of balancing technological expansion with sustainable energy practices.

Commitment to reducing emissions

Sustainability is a central theme in PwC’s 2024 Network Environment Report, which outlines the company’s commitment to net-zero emissions. This commitment includes goals approved by the Science Based Targets initiative (SBTi), aiming to reduce direct operational emissions (Scope 1 and 2) by 73% from 2019 levels.

Business travel, which made up 48% of PwC’s total emissions in 2024, presents a significant challenge for emissions reduction. 

PwC is actively working to minimise travel impact by optimising flight class selection, using local resources when possible and adopting hybrid meeting formats to reduce air travel. 

These changes led to a 5% reduction in travel-related emissions compared to the previous year and a 14% reduction from 2019.

PwC is also tackling emissions related to its procurement processes, specifically goods and services. While only 10% of its suppliers have validated science-based targets, PwC is committed to encouraging greater sustainability across its supply chain. 

Working closely with suppliers, PwC’s goal is to see more suppliers align their emissions targets with the firm’s net-zero objectives.

Global Chairman of PwC, Mohamed Kande, summarises the firm’s ambitions: “We remain committed to a sustainable future. That’s why sustainability is at the heart of our global strategy. We are not just adapting to change; we are driving it. Together, we can and will make a difference.”

Spotlight on PwC Malta’s scope 3 emissions strategy

PwC Malta faces unique challenges in addressing Scope 3 emissions, specifically those related to business travel. With limited options for direct land travel, PwC Malta relies heavily on air travel, which accounts for 48% of its total Scope 1, 2 and 3 emissions in FY24. This figure includes flights, land-based travel (such as taxis, rental cars and trains) and work-related accommodation.

In response, PwC Malta has committed to “travel smarter and less,” opting for efficient flight classes and engaging with clients early to reduce travel needs. Hybrid meeting formats have also become a norm, allowing for a balance between in-person and remote client interactions. These efforts have led to a 5% reduction in travel emissions from last year and a 14% decrease since 2019.

Additionally, PwC Malta focuses on reducing emissions from purchased goods and services by working closely with suppliers to adopt science-based targets. While many local suppliers face resource challenges in setting these goals, PwC remains committed to helping them progress toward more sustainable practices.

Romina Soler, Net Zero Leader, PwC Malta, emphasises the importance of this work: “The urgency of a net-zero transition is clear and it demands our collective action. At PwC, our mission is to not only lead by example but also empower our clients to navigate the intricacies of the path towards a more sustainable future."

Working together, we can transform challenges into opportunities and pave the way for businesses to thrive without compromising the opportunities of tomorrow.”

Future sustainability goals

With increasing regulatory demands and a growing emphasis on sustainable business practices, PwC is embedding environmental considerations into its core service offerings.

This includes guiding clients through regulatory requirements and supporting them in building resilience to climate-related risks, a move essential for long-term success.

PwC’s commitment to sustainability extends beyond internal targets, as demonstrated by its partnership with organisations like the World Economic Forum to provide resources that accelerate climate adaptation efforts. 

Looking ahead, PwC aims to continue supporting its clients in achieving sustainability goals while fostering a business landscape resilient to future environmental challenges.

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