2. Environmental impacts

This section covers the effects, risks, opportunities, governance, strategies, actions, and results of Deloitte's identified material environmental impacts (refer to page 132 for a summary of our material impacts).

In line with the ESRS, we will describe the processes to identify and assess material impacts, risks and opportunities for the environmental sustainability matters not in scope of our reporting due to a lack of materiality.

Table 04: materiality processes and considerations with regard to non-material environmental sustainability matters

2.1 Climate and CO₂

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Key results

In our Double Materiality Assessment as included on pages 117-122, we have identified the following material IROs for Climate and CO2:

1. Positive impact of providing effective climate adaptation services to clients, fostering greater climate resilience in the economy;

2. Risk: Failure to meet client expectations regarding climate;

3. Risk: Downturn of business due to client exposure to climate risk;

4. Financial and reputational risk of increased exposure to climate litigation and greenwashing concerns from inadequately disclosing, auditing, assuring or advising on climate-related risks;

5. Reputational risk of providing services to (and therefore being associated with) clients perceived as having an inadequate response to climate change and inadequate climate credentials;

6. Negative impact on the environment due to energy consumption from data usage, particularly through AI;

7. Opportunity to increase revenue growth by offering new climate-related services and expanding existing ones, to support clients in their response to climate change and contribute to the economy-wide, low-carbon transition;

8. Positive impact of our Beyond Value Chain Mitigation (BVCM) strategy in reducing GHG emissions outside of our value chain;

9. Opportunity to enhance our reputation through the provision of leading decarbonisation services to clients, and use of our brand and influence to shape market behaviour on decarbonization;

10. Opportunity: Exceed client expectations regarding climate.

Climate risk

In December 2024, Deloitte NSE published a report describing the climate-related financial disclosures for NSE and its geographies. It contains a comprehensive overview of our global climate ambitions, impacts and the risks that apply to our business. Our assessment of financial risks and opportunities in determining materiality is informed by this publication.

NSE climate risk process

Deloitte employs a comprehensive Enterprise Risk Framework (ERF) to identify, assess, manage, and monitor risks at both the NSE and local national practice levels. This framework outlines the NSE Executive’s evaluation of key and emerging risks that could affect the firm's strategic objectives, public obligations, and reputation.

Climate change and sustainability concerns are integral to the ERF, with risks categorised by their likelihood and potential impact. These risks are assessed across four dimensions: strategic differentiation, brand reputation, operational resilience, and workforce purpose. Significant climate-related risks include regulatory changes and shifting client needs, which are analysed using qualitative scenario assessments.

The Enterprise Risk and Monitoring (ERM) Team oversees the ERF, assigning Executive Risk Owners to manage climate-related risks actively. Regular meetings between the ERM team and these owners focus on risk management effectiveness, mitigation strategies, and necessary actions. The ERM team maintains a risk dashboard for ongoing assessment and validation of risks, with a mandatory review every six months involving the NSE Chief Risk Officer (CRO).

Executive Risk Owners present their assessments of climate risks to the NSE Executive, which are then reviewed by the NSE Audit and Risk Committee (ARC). The Climate Steering Committee ensures accountability for managing climate-related risks, evaluates outcomes, and provides a comprehensive overview of climate impacts to the NSE Executive, solidifying the integration of climate risk management into Deloitte's broader risk management processes.

Time Horizons

For the purpose of defining climate-related risks and opportunities, Deloitte maintains time-horizons that deviate from the definitions provided in section 1.1 of this Annex:

• Short-term: the next fours years, which aligns with Deloitte's internal planning and forecasting frameworks;

• Medium-term: 4-7 years, in line with our WorldClimate near-term 2030 targets;

• Long-term: greater than 7 years (up to 2050), in line with UK and EU jurisdictional net zero targets.

Climate Scenarios

Deloitte has determined that the Network for Greening the Financial System (NGFS) Climate Scenarios are most relevant for assessing climate-related risks and opportunities at Deloitte NSE. As a professional services organisation with diverse geographic and sectoral exposure, Deloitte opted for these scenarios over others, like those from the World Business Council for Sustainable Development (WBCSD), which are tailored for energy companies.

The firm selected three specific scenarios for analysis: Current Policies (projecting a 3°C increase), Divergent Net Zero, and Orderly Net Zero by 2050. These scenarios allow Deloitte to explore the potential impacts of climate-related risks across short, medium, and long-term timeframes. The two net zero scenarios, both aiming for below 1.5°C but differing in policy approaches, provide insights into various market and regulatory drivers relevant to Deloitte NSE, particularly in relation to the UK and EU.

The Current Policies scenario reflects a high-risk environment with significant physical climate impacts that could jeopardise business operations. In 2023, Deloitte conducted an internal scenario modelling analysis to evaluate the positive and negative implications of each selected scenario. This analysis, which considers global warming impacts from 1.5°C to 3°C, remains valid as there have been no significant changes to the firm in 2024/2025.

Process for defining climate-related risks and opportunities

The climate-related risks and opportunities assessment used the same likelihood and impact risk criteria as the firm’s ERF, which is described in the Risk management paragraph. Identified climate-related risks and opportunities were assessed by key NSE stakeholders by scoring the likelihood and impact for each risk and opportunity. Together with qualitative analysis based on market data, an average combined score was then calculated for each risk and opportunity to understand the significance to Deloitte.

Two types of climate-related risks and opportunities have been determined as having a potential impact: physical (acute and chronic) and transition (market, reputation, policy and legal). Further analysis has been performed for these, including impact assessments and scenario modelling (against the three scenarios identified) and corresponding strategic responses. The results are summarised in table 05 below.

Deloitte integrates climate-related risks and opportunities into its strategic, operational, and financial planning processes, ensuring decisions align with the firm's purpose and contribute to the economy-wide low-carbon transition. The firm continually refines its approach to assess the potential societal and environmental impacts of its services, aiming to protect and enhance its reputation as a responsible business and improve its standing among stakeholders.

Deloitte invests in the efficiency and resilience of its operations and collaborates with suppliers and societal partners to address climate risks and opportunities throughout its value chain. The firm has identified various climate-related risks and opportunities that could materially affect Deloitte NSE. As a professional services organisation, it views the impacts of these risks and opportunities as consistent across its primary service offerings, foregoing sector-specific analyses. Additionally, given Deloitte's global operations, the geographic impact of transition risks and opportunities is regarded as largely uniform across all NSE National Practices.

Table 05: Material climate-related risks and opportunities

As detailed in the ‘Strategic response and resilience’ column in the table above, Deloitte is resilient to the climate-related risks identified and is taking steps to further increase resilience. For example, in the short term, the firm leverages inherent strengths like its diversified client portfolio and flexible working models. Medium-term strategies include actively monitoring market trends, investing in climate-related service offerings, and implementing the ‘Better Buildings’ framework for sustainable office spaces. Looking to the long term, Deloitte focuses on achieving its WorldClimate strategy goals, embedding climate considerations into real estate decisions, and fostering a proactive climate-conscious culture to attract and retain talent

Considerations and conclusions from Deloitte Netherlands

Deloitte NL operates as a company with a low investment in physical assets. According to the notes in the financial statements, sections 4.3 and 4.4, there is a clear differentiation between assets owned by Deloitte and those owned by others, which Deloitte has the right to use. The value of assets owned by Deloitte is €53.4 million, primarily comprising office furnishings and (portable) IT equipment. Similarly, mobile data devices such as laptops and mobile phones are not considered to be at material risk from climate change. Depreciation of office-related assets is in line with the duration of the specific office rental contracts, meaning that physical risks are mitigated to a level that we do not deem them to be material.

Assets owned by others mainly consist of rented office buildings and leased vehicles. Transition risks for vehicles are mitigated by our fleet's progressive transition to electric vehicles. An uncertainty in this area is the installed capacity of the national grid in the Netherlands: in certain areas of the country there is already an overload of the electricity infrastructure. We do not perceive to have any material physical climate risks to our leased vehicles, partly because the maximum lease duration is set to five years. Regarding office spaces, we engage in temporary lease agreements, which afford a level of adaptability in our portfolio of offices should there be shifts in business conditions prompted by climate change. As a result of our approach, we do not regard transition or physical climate risks to assets owned by third parties as material.

As we do not have significant owned assets and have flexibility in our leased ones, none of our assets are at material transition risk. An exception may be our fossil fuel powered lease cars which are already planned to be completely phased out in 2025/2026. None of our assets are at material physical risk as a result of the climate change adaptation actions that we defined in the context of our WorldClimate programme (see pages 132-133).

In terms of revenue, we do not believe our revenue to be at risk due to physical climate risks in the short or medium term as our business is volatile and climate opportunities exceed climate risks. For the longer term, together with our NSE partners, we will further investigate what our clients’ exposure is to physical climate risks and we will assess what the potential impact is on their business continuity.

Our related activities contribute to the following SDGs:

We have a robust governance structure to manage our GHG emissions along with other sustainability matters. Our dedicated Internal Sustainability Team reports to the Chief Quality & Risk Officer and we have a Sustainable Operations Team consisting of various topic owners (housing, fleet, travel, IT, procurement, talent and communications) to design and implement policies. The Climate Champions Network connects sustainability advocates across our businesses, and a group of senior leaders serve as Sustainability Operational Excellence Leads to embed sustainable practices in daily operations.

Internationally, we are part of the Deloitte NSE WorldClimate structure a collaborating to advance our CO2 reduction strategy and reporting to the NSE Chief Sustainability Officer on progress and performance. We also leverage the Deloitte Global network for guidelines on our material topics and to measure our progress.

To enable climate adaptation and climate mitigation, Deloitte has adopted a number of policies:

• Global WorldClimate strategy (adresses IROs 1-10 as included on page 125);

• Deloitte Travel policy (addresses IROs 2, 4 and 10);

• Deloitte mobility policies (addresses IROs 2, 4 and 10);

• Deloitte housing policies (addresses IROs 2, 4 and 10);

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Overall

Deloitte is dedicated to reduce our carbon footprint and minimise the impact of our operations on the environment. Through our WorldClimate ambition and near-term science-based net-zero targets, Deloitte was already activating climate initiatives to help reduce our emissions. In September 2024, SBTi validated Deloitte’s long-term target to reach net-zero greenhouse gas emissions (GHGs) across the value chain by 2040. This means that our net-zero target is consistent with the Paris Agreement goal to limit global warming to 1.5°C and signifies our unwavering dedication to helping reduce our carbon footprint and minimizing the impact of our operations on the environment.

Our net-zero target: Deloitte commits to reach net-zero GHG emissions across the value chain by 2040.

Near-term targets:

• Reduce absolute scope 1 and 2 GHG emissions 70% by 2030 from a 2019 base year;

• Reduce scope 3 GHG emissions from business travel 55% per full-time equivalent employee (FTE) by 2030 from a 2019 base year;

• Engage with our suppliers, covering purchased goods & services and business travel, to have 67% by emissions set science-based targets by 2025.

Long-term target:

• Reduce absolute scope 1, 2, and 3 GHG emissions 90% by 2040 from a 2019 base year.

We have additional environmental sustainability goals which for The Netherlands mean that we will have 100% renewable energy by 2030 and 100% of our fleet converted to electric vehicles by the end of 2025.

Achieving net-zero by 2040 requires collaboration across Deloitte globally and our value chain. It entails a fundamental transformation to decarbonise our business operations. This includes how we serve clients, the technology we use to do our work, and the offices where we work from. This transformation requires active participation from our leaders and people, as well as cultural change and investment in solutions. Deloitte has assembled a global net-zero Taskforce comprised of sustainability specialists and leaders from across the Deloitte network to spearhead the development of Deloitte’s net-zero transition plan, which will be published in 2025.

Mobility

With our mobility policies, we aim to mitigate climate change by encouraging more sustainable transport choices. Our mobility policy offers our employees the choice between Mobility+, a leased car (including public transport options), a cash option or unlimited public transport. Public Transport is managed through the Shuttel card and app, helping our people easily manage their mobility needs in a sustainable way. Aligned with government climate goals for 2030, this approach enables employees to track their business travel and expenses, supporting our efforts to take measurable and decisive actions towards reducing carbon emissions in line with our WorldClimate ambition and the Paris Agreement.

Through our Mobility Policy, we are phasing out the use of fossil fuel powered vehicles and transitioning to fully electric or hydrogen powered cars in our lease fleet by the end of 2025.

Our policy applies to all partners and employees. For some employees or interns, another scheme (the Mobility Scheme) applies. Within this mobility arrangement, employees are encouraged to use public transport or shared mobility options.

Business travel

With our business travel policy, we outline our conditions for international travel and aim to mitigate climate change by reducing the emissions from flights and hotels. We encourage our people to travel only when necessary, opting for virtual or hybrid meetings and staff locally when possible. For essential trips, we prioritise methods that minimise CO2 emissions and costs. In line with our reduction ambitions, we prefer rail over flights for short international travel and have guidelines for travel classes on international flights, encouraging employees and Partners to choose Economy or Economy Premium for intercontinental travel, and only Economy for flights under six hours.

Housing

Deloitte strives to use office spaces in energy-efficient buildings, such as our Amsterdam office, 'The Edge', which holds a BREEAM Outstanding certification, and our Rotterdam office in 'Maastoren'. We prioritise renting buildings that already support sustainable practices and collaborate with landlords to source renewable energy wherever possible. Where we buy energy ourselves, Deloitte is actively engaged with Groendus, an energy marketplace that matches supply and demand for sustainable energy sources. In instances where direct green energy procurement is not yet the standard practice, we leverage our position as tenant to encourage landlords to switch to sustainable energy sources. Meanwhile, to offset our emissions resulting from our energy consumption, we purchase Renewable Energy Certificates.

Furthermore, we are committed to continually enhancing our building operations and energy efficiency by implementing the 'Better Buildings Toolkit' developed by DTTL.

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Sustainability initiatives in IT

We have implemented several ongoing sustainability initiatives in IT that help us reduce our carbon footprint. We use rechargeable accessories and USB-C adapters for iPhones made of recycled plastic. When employees leave the firm, or hardware is retired, devices are centrally collected for reuse or recycling. The iPhones we use are renewed, our laptops and MFD fleet (printer and scanner devices) are EPEAT Gold certified. For data storage, we use highly energy efficient data centres run by cloud service providers.

Sustainability initiatives in our office facilities

We are continuously working to make our offices more sustainable. For example, we have installed smart water meters in our office buildings, and in The Edge half of the toilets are flushed with rainwater. Although our operations produce minimal waste, we are dedicated to reducing waste generation in all aspects of our activities, including offices and events. We are adopting sustainable office fit-outs based on circular economy principles. We prioritise reusable, recyclable, and biodegradable materials, such as sustainably sourced wood, recycled steel and glass, and bio-based flooring, and have been implementing the NSE Responsible Procurement Policy in our engagement with suppliers. We collaborate with sustainable partners and aim for certifications like BREEAM to ensure strong environmental performance.

In addition, shifting from animal-based to plant-based proteins is essential for reducing our environmental footprint, improving health and building a more sustainable food system. Our company restaurants are committed to sustainability across its entire supply chain, focusing on responsible, circular, plant-based, and nature-inclusive food. They aim for zero food waste, creatively repurpose leftovers, and promote animal welfare, fair trade, and healthier food choices. We offer plant-based milk at coffee machines and all the coffee, tea and cacao powder in our pantries are UTZ certified. This means more sustainable farming and better opportunities for farmers and our planet.

Monitoring

In order to track our CO2 emissions to determine the effectiveness of our actions and policies, we operate a CO2 Emissions Dashboard for fleet and air travel. This dashboard is updated every month with the latest data we receive from our suppliers.

Through our monitoring, we aim to mitigate climate change by ensuring we have the right insights to purposefully steer our behaviour and, consequently, further reduce our emissions.

(Beyond) Value Chain Mitigation

Deloitte NSE has compensated the CO₂ emissions from 2023/2024 for all NSE geographies by investing in a number of certified carbon avoidance and renewable energy projects from third parties. In addition, RE100 compliant, EKOenergy-certified Renewable Energy Certificates from the European Energy Certificate System (EECS) are acquired by NSE to ‘green’ all non-renewable electricity consumption, including electricity used to charge our electric fleet. Once total CO₂ emissions for Deloitte NSE in 2024/2025 have been verified, NSE will buy credits to compensate these.

In addition, Deloitte NSE has started to participate in Beyond Value Chain Mitigation (BVCM) projects from around the NSE geographies, including in our own nature-based carbon storage project in the Dutch Caribbean, where we are practicing carbon sequestration by replanting mangroves (see paragraph 5.1 of this annex for more detail). The compensation and BVCM investments by NSE have no impact on the reported emissions from Deloitte.

Empower individuals

The climate transformation requires active participation from our leaders and our people. We therefore offer a range of climate related learnings, practical tools and network activations, like the Sustainable Delivery Framework, Deloitte University trainings and the Climate Champions network

Certification

Since April 2023, we have a Level 3 certification under the CO2 Performance Ladder certification scheme. We have published the certificate and the supporting documentation on our public website.

We also maintain an EcoVadis company profile. Through this scorecard, we provide transparency about our management system to addresses sustainability criteria, as outlined in the EcoVadis methodology. Our scorecard is available to trading partners on request.

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Governance

With the appointment of our new Chief Quality and Risk Officer (CQRO), Internal Sustainability received a new Executive Board member to report into. We have transitioned into this new governance structure and further finetuned our local and international governance, allowing us to be even closer to key stakeholders.

Mobility

We have continued the transformation of our fleet by replacing vehicles with an internal combustion engine with fully electric or hydrogen cars. Our schemes now exclusively offer these options. Almost all contracts for existing fossil fuel cars will end by December 31, 2025, ensuring their complete phase-out by then.

We acknowledge there are some exceptions for contracts that extend into 2026, and we are working to eliminate all fossil fuel vehicles from our leases by the end of the year. In addition, some employees may be required to temporarily use fossil fuel cars when their electric car is out for repairs. We are collaborating with the sector to provide more temporary electric loan cars.

Furthermore, we aim to improve transparency with our suppliers regarding the electricity sources used for charging our fleet. We currently rely on the Dutch average emission factor, which does not accurately reflect the renewable or non-renewable origins of the electricity used. We are also exploring ways to encourage our teams to choose renewable energy options when charging their cars.

Business Travel

We have continued to operate our Travel Policy with the aim of reducing our business travel emissions by 50% per FTE from 2019 levels and set new targets to reach 55% reduction per FTE by 2030 and 90% absolute reduction by 2040. We have initiated Deloitte Netherlands and Business Unit specific Air Travel Carbon Budgets to start closer monitoring, and help steer the business with conscious decision-making towards these new objectives.

Housing

Within The Edge we have expanded our workspace with two extra floors. As part of this expansion, we calculated the carbon footprint of the office design and used more sustainable materials and products, based on the learning of our renovation in our The Hague office in 2023. The former interior walls of the sub-tenants have been reused as much as possible. We used 100% fully recycled carpet specifically designed for Deloitte. The existing carpet will not be wasted but reused.

We have also renovated our office in Maastricht and made new agreements about renewable energy with the landlord, adding to the energy efficiency of the building

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Sustainability initiatives in IT

We have implemented several sustainability initiatives in IT that help us reduce our carbon footprint. This year, we started focus on Gen AI and green coding in anticipation of our Net-Zero by 2040 target. We introduced more sustainable reasoning models in Headstart, an advanced GenAI tool developed by Deloitte, replacing GPT 4o with GPT 4o mini as the default model. We have embedded multiple modes and onboarding screens to guide employees towards less resource-intensive models Approximately 90% of requests used the more sustainable option.

Certification

We have renewed our certification under the CO₂ Performance Ladder certification scheme. The certificate and the supporting documentation is disclosed on our public website. Furthermore, we have renewed our EcoVadis assessment and were rewarded a silver medal.

Empower individuals

We are empowering our people to be better informed about professional and personal climate change impacts through a number of activities that we highlight below.

Education and activation

We continued our engagement with the Climate Champions network to help create awareness of WorldClimate across Deloitte. This network was established in 2022 and is a platform for climate enthusiasts sharing experiences amongst likeminded people, providing ideas to leadership, and helping spread information about sustainability at Deloitte. The Climate Champions gather in person on a quarterly basis and are connected on an ongoing basis through online channels.

Furthermore, our people can connect internally and externally with sustainability related interest groups to expand their networks, learn about sustainability and how to integrate this in their personal and work life. Examples are the Growing Green Leaders, the Net Positive Network, Springtij, the sustainability walking tours, the sustainability café. Additionally, we have various online tools and learnings available to educate all our people on sustainability, including learning catalogues, an internal website in which our people can find support towards sustainable leadership and how to deliver our work in a more sustainable way. Employees in different businesses periodically receive sustainability related learning resources through their learning and development teams. Furthermore, we ensure to share information about new learning and knowledge events for everyone to attend in our monthly Sustainability SGO newsletter.

April Earth Month

In April 2025, we celebrated Earth Month at Deloitte. During this month, we ran a thorough campaign to emphasise how we are driving sustainability transformation within our organisation and beyond and teach our people how they can play a role in making lasting changes for a sustainable world. Activities included the Documentary screening with a panel conversation to reflect on our progress & accelerate action and the Giki Earth Month Challenge, and a series of Sustainability related webinars for our group of Executive Assistants.

Engage ecosystems

We are collaborating with clients, alliance partners, NGOs, industry groups, suppliers, and others to accelerate the sustainability transition.

Sustainability SGO

One of the biggest sustainability impacts we can have as an organisation is through the work we do with our clients. We have developed a sustainability SGO, which promotes an integrated approach to sustainability and a sustainable leadership mindset with regards to the delivery of our work with clients on an ongoing basis. We believe that the footprint of the work we do for clients in support of their transition to a more sustainable world is increasing exponentially.

Systemic challenges

With our clients, and through coalitions of the willing, we want to tackle and accelerate five of the most complex systemic challenges the world is facing today.

1. Accelerating the energy transition

The energy transition is one of the most significant transformations the Netherlands has seen in this generation. We are working to setting the transformation agenda and providing end-to-end support in helping clients defining and achieving their path to net-zero. Hydrogen is projected to play a key role in the future of energy. In The Netherlands, we have a global centre of excellence for hydrogen. This provides us with a key position in the energy transition globally.

2. Developing a sustainable food system

At Deloitte, we want to change how we grow, produce and consume food in the future. Our purpose is to drive the transformation of the entire food ecosystem by future proofing our clients and supporting them to align shifting nutritional needs within planetary boundaries. As part of this we are focusing on nature positive food systems, resilient & digital food supply chains, future of food production and zero food waste.

We have set-up the Net Positive Network, a community of CEOs, business leaders, startups, opinion makers, experts and producers, all dedicated to revolutionising our food system and making a real difference by taking action on regenerative agriculture, food waste reduction and protein shift. This year, the Network hosted Net Positive Dinners, organised the third round of the Spring Parade (summit with 350+ young talent from the food ecosystem) and continued to operate the Young Academy (immersive learning program to become a net positive leader), to name a few activities.

We have released the Turning Point research report which analyses the long-term benefits of five system-level solutions to feed the world more sustainably and improve outcomes for both people and the planet.

We launched research about costs and incentives for regenerative agriculture in Europe together with PepsiCo, Unilever and OP2B.

3. Building a circular world

We are working to embed circularity into all industries and building sustainable and resilient supply chains. As part of our activities, we are partnering with Circle Economy Consulting, an impact consulting firm with whom we seek to drive systemic change by investigating tangible solutions and opportunities for collaboration between the private and public sectors to help analyse, shape and deliver circular solutions that deliver commercial, sustainable and societal value. For the third consecutive year we have collaborated with Circle Economy Foundation to create the Circularity Gap Report (new window) (CGR), which has provided crucial analysis and theory on the global state of circularity since 2019.

Next to the CGR 2025 we have also published the Circular Economy boundary setting report with Circle Economy, and we supported the WBCSD on the development of the Global Circularity Protocol, resulting in a Landscape Analysis and Impact Analysis. Within Deloitte, we were recognized by being awarded the NSE Impact Award winners for this work.

4. Nature positive business and society

Governments, clients, and competitors are taking significant actions to halt and reverse nature loss. Deloitte is committed to create a nature positive business and society throughout our own operation and business model and by collaborating with stakeholders and NGOs to increase awareness and knowledge on nature.

Through the Deloitte Impact Foundation (DIF), Deloitte has been actively engaged in a key project in collaboration with WWF-NL, aimed at advancing the Taskforce on Nature-related Financial Disclosures (TNFD) Framework and the integration of nature in financial decision-making. The first event in a series of initiatives was an online gathering titled “What’s Next for Nature: The Latest in Nature Regulations and Reporting Landscape." This event was designed to inform and empower stakeholders by providing comprehensive insights into recent updates in nature regulations and reporting requirements. Expert speakers delved into the implications of policy changes, shared insights from the first year of CSRD reporting across various industries and discussed advancements in regulations related to nature and biodiversity. Looking ahead, Deloitte plans to further strengthen the collaboration with WWF-NL and Sustainable Finance Lab by establishing a working group involving several Dutch financial institutions to discuss TNFD's discussion paper on nature transition plans in depth.

See Chapter 5.1 Nature and biodiversity for more information on our nature approach.

5. Achieving Climate Equity and a Just Transition

The transition to a net-zero economy does not impact all communities equally, and a just transition requires fairness, equity, and inclusion to be placed at the forefront of climate action. We help our clients evaluate the uneven impact of the transition, manage systemic risk, and harness opportunities to deliver value to their stakeholders.

Sustainability partner groups

Deloitte is a member of:

• Green Business Club

• UNGC, Board of Directors, and Peer Learning Groups for Climate, Human Rights and Diversity.

• MVO Nederland

Suppliers

We are still off-track for our target to have two-thirds of our suppliers adopt science-based targets for carbon reduction within five years. To regain momentum, we have increased our global efforts to engage with our suppliers on this topic.

We have launched our Deloitte NSE Responsible Procurement Policy on January 1, 2025, in order to establish shared sustainable procurement policies and tools going forward. We are actively approaching our most critical suppliers and are offering learning opportunities to educate our large and small suppliers on our expectations and the SBTi journey.

Results

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We made the following considerations when determining which Scope 3 emissions are relevant to Deloitte:

Table 06: Considerations for inclusion Scope 3 emissions

As of 2024/2025, we also report the Scope 3 emissions resulting from our employees working from home.

Table 07: Total Greenhouse Gas Emissions per scope*

* As we have not yet finalised our transition plan, at present we cannot set absolute reduction targets per scope at this moment. For this reason, we did not include milestones and target years in table 07.

** We have selected 2018/2019 as our base year as this is the last year that was unaffected by the restrictions during the COVID pandemic and was therefore selected by DTTL as the base year for the WorldClimate strategy. We believe that 2018/2019 still is a valid year to measure progress against.

*** This concerns preliminary emissions as calculated by DTTL. The figure presented for 2023/2024 has been updated following external assurance thereof.

Compared to 2023/2024, we have now included emissions for Fuel and energy related services, Waste and Working from home. With the exception of Working from home, we have restated data for our base year and 2023/2024 to facilitate comparison. This pertains to Scope 1 GHG emissions, Gross location-based scope 2 GHG emissions, Gross location-based scope 2 GHG emissions, and Fuel and energy-related activities, where we aligned our methodology with the one we used for the 2024/2025 data and that is described in Annex 3: Basis of reporting.

This year, to determine Gross market-based Scope 2 GHG emissions, we have taken the RECs purchased by Deloitte NSE into account as these cover both electricity consumption for offices and for charging electric vehicles. With the reduction of cars with an internal combustion engine, we saw the related Scope 1 GHG emissions further reducing. Business travel emissions saw a slight increase due to further internatialisation of our business and more hotel nights than in the previous year. We are, however, still outperforming against the of 55% reduction per FTE target that we set for 2030 for business travel.

Table 08: Greenhouse gas intensity*

* Greenhouse gas intensity is calculated using 'Revenue' as included in the 'Consolidated statement of profit or loss and other comprehensive income for the year ended May 31, 2025, in Annex 1 of this report.

Table 09: Energy consumption according to source

Table 10: Housing

Table 11: Mobility

We have adjusted the figure provided for Total mobility CO2 emissions intensity expressed in kg CO2/km for 2023/2024 to align it with our methodology for 2024/2025, where we did not include hotels emissions.

The firm recognises that there are currently no performance-related metrics for climate in place for partners and employees of Deloitte. In addition, an internal carbon pricing framework has not been set-up. In close cooperation with DTTL and NSE, the implementation of such policies and frameworks are being considered for future reporting periods.

Mobility

As stated above, we note that the traceability of the power sources used for our electric cars is limited. We will be working on increasing traceability for types of energy used for our electric cars going forward. In addition, we will look at ways to empower our teams to consciously choose for renewable power options when charging their cars with the goal of increasing the share of renewable energy in the electricity mix that powers our fleet. In addition, we will be working with our suppliers to phase out fossil fuelled cars for temporary purposes.

Business Travel

We will examine the integration of sustainability criteria for hotels in our booking system.

Suppliers

We will executing our supplier engagement plan to raise awareness and explore collaboration on climate related risks

Transition Plan

Achieving net-zero by 2040 requires collaboration across Deloitte and our value chain. It entails a fundamental transformation to decarbonise our business operations. This includes how we serve clients, the technology we use to do our work, and the offices where we work from. Deloitte has assembled a global net-zero Taskforce comprised of sustainability specialists and leaders from across the Deloitte network to spearhead the development of Deloitte’s net-zero transition plan, which will be published in 2025. This will form the basis for transition planning on the level of NSE and Deloitte Netherlands.

2.2 Other environmental information

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In this section, we disclose information about our generation and disposal of waste. We choose to do so because there is a clear connection between carbon emissions reduction and the prevention and recycling of waste. Although we do manage waste, we have not set targets for reduction or recycling yet as we do not deem our impact because of waste management to be material at present. However, we do include our waste generated in our Scope 3 emissions.

Although our operations produce minimal waste, we are dedicated to reducing waste generation in all aspects of our activities, including offices and events. We provide waste separation options through the ‘tulip’ shaped waste bins in our offices. The waste is divided in 4 sections: organic, plastic, cardboard and general waste. We are adopting circular economy principles across our operations, for instance for sustainable office fit-outs and technology. We prioritise reusable, recyclable, and biodegradable materials and have take-back agreements.

We are analysing food waste during preparation and after hours and from banqueting events in order to reduce waste and offer Too Good To Go goodie bag with unsold food from the staff restaurant.

Table 12: Waste