Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, has released its fifth annual Environmental, Social and Governance (ESG) Report, which highlights the firm’s progress toward achieving key milestones in its sustainability goals and diversity, equity and inclusion (DE&I) aspirations.
The report describes how Grant Thornton submitted its updated greenhouse gas (GHG) emissions reduction targets to the Science Based Targets initiative for validation and developed a roadmap to work toward achieving a 55% reduction in the firm’s absolute GHG emissions by 2030, and net-zero emissions by 2050. Additionally, the firm obtained limited assurance over its GHG inventories for its baseline of calendar year 2019 and its most recent inventory for calendar year 2022.
“Caring for the natural environment on which we all depend is everyone’s business,” said Seth Siegel, CEO of Grant Thornton. “Grant Thornton’s increased focus on sustainability is not only good for the planet, but it can lead to improved collaboration at our firm and greater opportunities for success with our clients.”
The report also explains that Grant Thornton has already reached two DE&I milestones it originally set for its 2025 fiscal year. First, 40% of its partners, principals and managing directors are now women or come from diverse demographics ― including people of color, LGBTQ+, individuals with disabilities, and veterans or military spouses. Second, 50% of the firm’s “hot-skills” training opportunities include participants who come from these same groups.
Grant Thornton also expanded its recruiting efforts to include more Historically Black Colleges and Universities (HBCUs) and Hispanic Serving Institutions (HSIs). Moreover, it renewed its financial support pledge to the Thurgood Marshall College Fund for an additional two years. Similarly, the firm’s wider workforce is engaged in DE&I efforts, with its professionals participating in more than 19,000 hours of activities related to its business resource groups (BRGs), community service and volunteerism.
“We’ve made great progress toward our DE&I aspirations and we are on track to continue the strong momentum our teammates have created,” said Rashada Whitehead, national managing principal of Culture, Immersion & Inclusion. “At Grant Thornton, we are anchored steadfast in our values and committed to getting the right outcomes, in the right way.”
The report also spotlights Grant Thornton’s focus on its workforce’s professional development. For example, the Brandon Hall Group — a human capital management research and advisory firm — awarded Grant Thornton a Gold Medal for Best Program for Upskilling Employees, and a Silver Medal for Best Use of Blended Learning in 2023.
The report goes on to explain that internal training and digital badging programs are a priority at Grant Thornton, with the firm broadening its initiatives to focus on belonging and allyship, while at the same time expanding its unconscious-bias workshops and enhancing its policies and practices related to equity.
Grant Thornton prepared its ESG report with reference to established external ESG frameworks including the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB) for the professional and commercial services industry, and the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report also describes the alignment of the firm’s efforts with relevant United Nations Sustainable Development Goals (U.N. SDGs).
The 2023 Grant Thornton ESG Report is available here.
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Tags: Firm Management
