Sustainability at BDO Canada is an evolving, purposeful journey.
As part of our sustained commitment to continual environmental, social, and governance (ESG) improvement, we are pleased to share our sustainability report for 2023.
This annual report details our progress toward our sustainability goals, outlining our progress, accomplishments, objectives, and dedicated resources to this increasingly important aspect of doing business.
Our strategy: How we’re moving forward on ESG and sustainability
ESG considerations are a foundational cornerstone of our decision-making process, embedded prominently within our strategy, values, culture, operational practices, and innovation initiatives. This underscores our commitment to creating a brighter future.
We are also proud to support our clients on their sustainability journeys by providing a comprehensive suite of services and strive to lead by example in our own operations and initiatives.
Our sustainability strategy focuses on three main pillars, predicated on the effects of evolving market shifts and the results of our materiality assessment. With these insights, we continue to advance our sustainability journey.
Our path to sustainability
Environmental
We are committed to reducing our greenhouse gas (GHG) emissions by half by 2030 and achieving net-zero emissions in our operations by 2050 or sooner. This aligns with the Paris Agreement’s overarching goal for signatories to limit the global temperature increase to 1.5°C above pre-industrial levels.
Building on our initial steps in 2022 to establish our baselines and emissions reduction estimates, last year we formalized our decarbonization roadmap and refined the quality of data used for measuring our carbon impact. We also established a procurement group to work with our top suppliers to set science-based targets for emission reductions within our supply chain and continue to actively encourage our property managers to pursue goals that contribute to their net-zero journey.
Our 2023 emissions breakdown by scope
Emissions by Mt CO2eq (metric tonnes of carbon dioxide equivalent).
Social
We are committed to driving social impact inside and outside our firm. We strive to create positive experiences for our people where everyone at BDO can learn, grow, succeed, and be their genuine selves. It also involves working together to build stronger, healthier, and thriving communities.
Diversity, equity, and inclusion (DEI)
Our DEI efforts in 2023 included launching a five-year Accessibility Plan to support better accessibility and inclusion for persons with disabilities.
In collaboration with our DEI pillar leads, we deliver education and awareness-building programs to nurture the success of underrepresented groups within BDO.
I believe that it is our responsibility as a global firm to hold ourselves to the highest possible standard to ensure that our workplaces provide a safe and inclusive environment for all.
Sinéad Scanlon
National Diversity, Equity, and Inclusion Leader
Health and well-being
In 2023, we expanded our family support benefits with new gender affirmation coverage and enhancements like increased fertility drug coverage.
Learning and development
Our people bring unique value to our firm. We empower them to reach their personal and career goals by providing holistic development opportunities. To lead this charge, Dr. Keith Keating was appointed as Chief Learning & Development Officer.
Learning and development at BDO Canada is guided by a strategy that reimagines the way BDO supports the growth of our people, the most important resource for our organization.
Dr. Keith Keating
Chief Learning & Development Officer
The average training expenditure per full-time employee amounted to $2,775, an increase of 41% over 2022.
Community impact
We invest in causes aligned with the values of our firm and our people. Through volunteer work, financial support, raising awareness, pro-bono work, and serving on not-for-profit boards, our firm and our people collectively strive to help communities address the challenges and opportunities that matter most to them.
In 2023, we invested almost $2.5 million into our communities by sponsoring and donating to national and local causes that align with our values and priorities. This is an increase of 18.1% compared to 2022.
Innovating for growth
Our dedicated Innovation & Change team develops and operationalizes purposeful innovations that deliver measurable and tangible benefits. This team spearheaded our participation in the early access program for Microsoft 365 Copilot, a strategic move that placed us among the first to integrate this advanced AI tool into our daily operations.
In 2023, we increased our investment in innovation by 53% over 2022.
Today's actions, tomorrow's change
The Drive Away Hunger campaign is our largest and longest-running firm-wide social responsibility program. We’ve supported this initiative for over 15 consecutive years, and it has grown to become a uniting and inspiring program for both rural and urban offices from coast to coast.
In 2023, our people raised $337,226 for Drive Away Hunger and approximately $3 million since our first year supporting the campaign.
Governance
Strong governance is essential to operate in a way that is sustainable, meets our obligations, and adheres to our ethical role while delivering value. Our board understands the challenges of our industry and is committed to setting high standards of corporate governance.
The guiding principles that inform our decision-making process and reflect our commitment to transparency and accountability include:
Our board consists of nine partners elected by the partner group with representation from all service lines across the organization and two external independent members selected by the board.
Four sub-committees addressing critical organizational functions support our board in its mandate:
- Financial Oversight Committee
- Governance & Risk Committee
- Talent & Culture Committee
- Strategy & Execution Committee (ad hoc)
Our firm promotes a culture of integrity and ethical behaviour through compliance with prevailing laws, independence requirements, regulations, and internal policies like our Code of Conduct.
Our Enterprise Risk Management program has enabled us to identify and assess risks that could impact our ability to achieve our objectives, thereby improving our strategic decision-making capabilities. Recognizing that ESG and climate change pose a risk, we’ve integrated these topics into our board and Executive Leadership Team discussions.
Information security is fully embedded into our organizational culture and operations. To ensure the confidentiality and protection of our clients’ and people’s data, our policies align with internationally recognized standards for information security.
