In June of this year PwC unveiled The New Equation, its landmark global strategy which responds to fundamental changes in the world, including technological disruption, climate change, fractured geopolitics, and the continuing effects of the COVID-19 pandemic. The New Equation is based on analysis of global trends, thousands of conversations with clients and stakeholders, and builds on more than a decade of sustained revenue growth and continued investment.
The New Equation focuses on two interconnected needs that clients will be facing in the coming years. The first is to build trust, which has never been more important, nor more difficult. Businesses increasingly need to earn trust across a wide range of topics that are important to their stakeholders. Success depends on fundamental shifts in the way executives think, organisational culture, systems and ambitions. The second is to deliver sustained outcomes in an environment where competition and the risk of disruption are more intense than ever, and societal expectations have never been greater. Businesses need to change faster and more thoroughly to attract capital, talent and customers. More information about The New Equation can be found on www.pwc.com/mt/en/the-new-equation.
In addition, the PwC network is mobilising around the commitment made last year to achieve net zero greenhouse gas emissions by 2030, which involves transforming its business model to decarbonise its value chain.
The main themes of The New Equation are also included in the Annual Review and Transparency Report of the local firm, PwC Malta. The Review, which was released in October and available online on www.pwc.com/mt/en/about-us/annual-review-2021, gives a summary of the endeavours of the firm from July 2020 to June 2021. All the three areas of practice, Advisory, Assurance and Tax, state that it is their top priority to both help their clients in navigating the uncertain environment the world finds itself in, and to provide upskilling to the firm’s employees in digital and socio-emotional skills, such as resilience, creative thinking and problem solving. PwC Malta also reports to have contributed over €512,000 in cash and time contributions to charity and philanthropic activities and reduced paper consumption by 39 per cent.
PwC Malta’s Territory Senior Partner, David Valenzia, stated that: “Our new strategy builds on our ongoing commitment to quality, in a time where it has never been more necessary and required. This is not only in ensuring that the work we perform is always of the highest standard, but also in the clients that we service and ensuring that compliance with regulations remains a priority for us and our clients. We continue to invest significantly in tools and resources to help us achieve this objective.”