PwC chairman Bob Moritz talks ESG at Qatar Economic Forum

PwC Global Chairman Bob Moritz is currently in Doha to participate in the Qatar Economic Forum, where he talked about his firm’s commitment to reaching net zero emissions.

At this year’s edition of the Qatar Economic Forum, Bob Moritz took part in the ‘Building a Net Zero Economy’ panel, offering PwC’s experience and perspective on the issue of sustainability and Environmental, Social, and Governance (ESG). In comments at the Forum, Moritz said that PwC believes that ESG imperatives can be put into place to push a positive transformation of the Gulf region.

“We have a long ways to go in terms of the progress versus the commitments and that goals that we’ve set as a society at large,” said Moritz during the panel discussion at the Forum, noting that stakeholders need align better and allocations of capital need to be better planned.

Moritz noted that the world needs to decarbonize 11 times faster than the rate achieved over the past two decades to avert further destabilization of the global environment. PwC has pledged its commitment to reducing emissions and emphasizes the importance of innovation, functioning markets, supportive policies, and public will to drive the net-zero transition.

PwC is part of the UN's ‘Race to Zero’ initiative that seeks to limit global warming to 1.5 degrees Celsius above the pre-industrial average, much like the Paris Agreement. The firm is also part of the LEAF coalition, a large public-private partnership working to grow the market for quality carbon credits.

In the Middle East, there is growing maturity in ESG thinking, with formal strategies and reporting on the rise in recent years. The Qatar Economic Forum serves as an important regional platform for vital discussions on sustainable economic development and a net-zero economy.

The chairman also touched on other concerns such as capital allocation and the imperative for increased accountability. He noted the “substantial gap between the progress we have made and the commitments and goals we have set as a society.”

The same eagerness to promote ESG imperatives was also recently expressed by Riyadh Al Najjar, Riyadh-based Middle East Chairman of the Board and at PwC. He noted that a rigorous strategy of setting ambitious ESG targets and shifting away from oil to renewable energy has the potential to massively transform Middle Eastern countries.

Bob Moritz has served as Global Chairman of PwC since 2016. Moritz's leadership is marked by his commitment to driving innovation, addressing global challenges, and promoting collaboration for sustainable economic growth.