A message from our CEO
At BDO Canada, our environmental, social, and governance (ESG) initiatives are a roadmap to endless opportunities, where sustainability, social impact, and strong governance redefine what success truly means for our firm.
As we unveil our 2023 sustainability report, I am proud of the progress we have made on our ESG objectives and the possibilities we have ignited. We strive to be recognized as a top-tier firm with a clearly differentiated service offering that bends the arc of possibility for our people, our clients, and our firm. Our ambitions must be sustainable—and in 2023, we have achieved significant milestones towards our ESG goals.
- Environment: We are committed to achieving net-zero emissions by 2050 across our operations. In 2023, we started formalizing our decarbonization roadmap and enhanced the quality of data used to measure our carbon footprint. We also streamlined the data collection process for our greenhouse gas (GHG) emissions. These enhancements will yield more accurate emissions information and bring us closer to realizing our reduction targets.
- Social: We have made significant strides as a firm in implementing our diversity, equity, and inclusion (DEI) strategies. In 2023, we increased the uptake of our self-identification tool, strengthened our mentorship programs, launched our five-year Accessibility Plan, and enhanced our inclusive physical and mental health supports. We are determined to continue enriching the diversity of our firm and fostering an environment where every individual is valued, heard, and positioned for success.
- Governance: Our corporate governance model is based on trust, collaboration, and accountability, and goes above and beyond regulatory requirements. The release of our 2023 Audit Quality Report reaffirms our commitment to excellence and maintaining strong, productive relationships with regulators. We continue to upskill our executives through training, assessments, peer surveys, and other external professional development.
The evolving business landscape and employee expectations have placed ESG at the forefront of organizational decision-making. At our first firm-wide ESG Impact Week in October 2023, we gathered meaningful ideas that were used to inform our 2024 ESG strategy. We look forward to proactively engaging our people on the strategic importance of ESG issues. This is a matter our people genuinely care about, and we believe it will continue strengthening the culture of kindness, empathy, and community within the firm.
The actions we take today will carve the path for a more resilient and responsible tomorrow, and our momentum toward ESG excellence is filled with opportunities for growth, innovation, and meaningful impact—for our clients, our people, and our planet.
Bruno Suppa
Chief Executive Officer
A message from our ESG Program Leader
At BDO Canada, sustainability means possibility. It’s our roadmap to endless opportunities, where environmental stewardship, social impact, and strong governance redefine what success truly means for our firm. As we unveil our Annual Sustainability Report, I am deeply proud of our ESG team, the work we as a firm have collectively accomplished, and the possibilities we have ignited.
Our progress towards our ESG goals led to significant milestones last year. I’m pleased to highlight some of our achievements:
- We were recognized as one of Canada’s Top 100 Employers and one of Atlantic Canada’s Best Places to Work.
- We launched our five-year Accessibility Plan, which shares the steps we are taking to remove and reduce barriers to accessibility for persons with disabilities at BDO.
- We implemented enhancements to our internal processes to improve the efficiency of data gathering on various emissions categories.
- In 2023, we increased our investment in innovation by 53% over 2022.
- We leveraged new digital tools to help our people set performance goals and track their progress.
We know our people genuinely care about ESG—this was a clear takeaway from our ESG Impact Week in October—and we believe this shared passion will continue to strengthen the kindness and sense of community within our firm. Our dedicated team members bring our ESG commitments to life through their daily actions and long-term visions, contributing to meeting our clients' needs while driving positive change in the communities we serve.
Among the many community impact programs we support, our 2023 Drive Away Hunger fundraising efforts exceeded those of 2022, underscoring the kind of positive impact we aim to make.
We intend to continue our momentum to advance our sustainability program and demonstrate how we continue contributing to a better world for our people, clients, and planet.
Glory Keong
ESG Program Leader
Overview
Why is sustainability important to BDO Canada?
Sustainability continues to be a strategic priority at BDO Canada and is integrated into our goals. As a professional services firm, we have the ability to drive meaningful change in our operations through our client services and within the communities in which we operate. Throughout our 100-plus years of business in Canada, we have always been committed to ESG initiatives across the country.
In 2022, we formalized our ESG strategy, aligned our existing program to the World Economic Forum’s International Business Council (WEF IBC) reporting framework, and identified material ESG topics through effective consultation and engagement. In 2023, we continued moving our ESG program forward and contributing to meaningful change.
Our aspiration is to be the leading professional services firm that inspires an unstoppable sustainability movement.
Sustainability drives our actions. Our 2023 report celebrates our progress towards reaching our goals and holding ourselves accountable.
For more information on the WEF IBC Index, see Appendix A, and for WEF IBC definitions, see Appendix B.
The global drivers of our ESG strategy
Our ESG program continues to be guided by external market shifts. In 2023, we proactively navigated the following evolutions.
1. The rising costs of climate change
Market evolution: The physical and transitional impacts of climate change and natural disasters continued to cause harm in Canada and around the globe. Record-breaking wildfires impacted Canada at an unprecedented rate.
Our approach: We continue to take action to reduce our carbon footprint and achieve net-zero emissions by 2050 through the development of a formal climate strategy. In 2023, we made considerable improvements in the efficiency and accuracy of our data gathering process on various emission categories and established a procurement group that works with our suppliers to set science-based targets for emission reductions within our supply chain.
2. DEI and humanitarian impacts
Market evolution: Systemic racism and acts of unconscious bias continue to be issues facing Canadian society. Global conflicts impose humanitarian impacts that have far-reaching consequences on nations and communities around the world.
Our approach: We have set measurable targets to improve diversity among senior leadership roles and have implemented strategies to help our firm achieve set targets. In 2023, we made strong progress towards our DEI goals. We are proud to report that 43.1% of our senior leaders are women and we have made significant progress in tracking the proportion of our senior leaders who identify with combined equity-deserving groups. We continue to collaborate with our DEI pillar leads to advance DEI education and support humanitarian initiatives and awareness within BDO.
In response to devastating wildfires across Canada in 2023, our firm donated to support affected communities and actively encouraged our people to personally contribute towards relief efforts and other humanitarian causes. For our people impacted by the wildfires directly or indirectly, we encouraged them to seek support using the firm’s free Employee & Family Assistance Program, available 24/7.
AI-driven innovation
Market evolution: Technological advancements and artificial intelligence (AI) programs continue to pose challenges and opportunities for how businesses operate, deliver services, and achieve sustainability. Embracing innovation and AI, when done responsibly, has the potential to create efficiencies and lead to significant competitive advantages—but it must be pursued with a keen awareness of the carbon footprint associated with AI systems. By designing AI algorithms with sustainability in mind, businesses can mitigate the ecological footprint of their AI operations.
Our approach: A robust and dynamic digital agenda is a core pillar of our strategy. In 2023, we embraced emerging technologies like Microsoft Copilot and empowered our people to leverage these solutions to create efficiencies in their work. Through educational programs, our objective is to protect confidential data while adopting new technology offerings to enhance our client service delivery model.
Our dedicated Innovation & Change (I&C) team helps maintain a culture of curiosity while empowering, exploring, and implementing new ideas that create a sustainable future for our clients.
About us
Get to know BDO Canada
Over our 100 years of business in Canada, we’ve grown to be a leading provider of professional services to clients across a variety of sectors and segments. Through the BDO network, we offer cross-border services that are seamless, consistent, innovative, and aligned with principles of global excellence.
Our professionals value innovation, change, and cutting-edge solutions that meet the needs of today’s evolving challenges and opportunities.
BDO Canada figures
- Revenue: $987M*
- Partners: 508
- Staff: 5,054
- Offices: 95
Canadian details current as of Dec. 31, 2023.
* Unless otherwise indicated, all currency in this report is in Canadian dollars.
Our core services
- Audit & Assurance
- Tax
- Business Services & Outsourcing
- Advisory
Across each service line, we have a comprehensive ESG service offering that supports clients along their sustainability journeys. With our sustainability team’s extensive knowledge, we help clients embed ESG into their business operations in a practical and purposeful way.
Our Assurance service line provides valuable insights on client financial information and ensures their compliance with regulations at every stage of the business life cycle. Our Audit service line conducts risk-based audits and reviews engagements on financial information.
Our Tax professionals help clients meet regulatory obligations, effectively manage their tax burdens, and navigate complex regulations in Canada and abroad. Through our partner-led practice, our team draws on deep experience, global resources, and specialized industry knowledge to advise clients on tax opportunities, risks, and efficiencies in their business operations.
Through our Advisory services, our team takes its vast knowledge of industry issues, regulations, and market dynamics to help clients achieve their strategic objectives based on data-driven results and actionable insights.
Leveraging data-driven insights, industry expertise, and digital platforms and tools, our Business Services & Outsourcing (BSO) practice provides strategic insights that lead to sustainable growth and competitive advantages. From tax structure assessments to cloud accounting integration, our diverse solutions are tailored to our clients’ distinct needs and goals.
Our mission
- Develop people
- Discover insights
- Deliver quality and value
- Build trust
Our vision
To bend the arc of possibility for our people, our clients, and our firm.
Our values
- We’re passionate about our people and clients.
- We seek progress over preservation.
- We believe diversity, data, and a clear focus on quality strengthen our firm.
- We’re curious, collaborative, and kind.
Core services at a glance
We offer a diverse range of services tailored to meet the evolving needs of our clients.
This overview is provided as an example of our core offerings and is not intended to represent an exhaustive list. For a comprehensive understanding of our offerings, we encourage you to contact us directly or visit our website.
Solutions
- ESG
- Digital Transformation
- Indigenous Communities & Organizations
- Private Equity
Services
Audit & Assurance
- Accounting Advisory
- Capital Markets & Public Company Services
- Third Party Assurance
BDO Digital
- Application Development & Modernization
- Business Applications
- Cloud Services
- Cybersecurity
- Data & AI
- Digital Strategy
- Managed Services
- Modern Workplace
BDO Law
- Business Law
- Immigration
- Tax Controversy & Dispute Resolution
- Wills, Estates & Trusts
Business Services & Outsourcing
- CFO & Controllership Services
- Cloud Accounting
- Financial Reporting & Tax Filings
- Payroll
Financial Advisory Services
- Business Restructuring & Turnaround Services
- Deal Advisory
- Forensic Disputes & Investigations
- Risk Advisory Services
- Strategy, Value Creation & Analytics
- Valuations & Modelling
Management Consulting
- People Advisory
- Public Sector Strategy & Transformation
- Strategy, Value Creation & Analytics
Personal Debt Solutions
- Debt Counselling
- Consumer Proposal
- Bankruptcy
Tax
- China Practice
- Customs & International Trade
- Domestic Tax
- Expatriate Tax
- Indirect Tax
- International Tax
- Private Wealth
- Credits & Incentives
- Transaction Tax
- Transfer Pricing
- U.S. Tax
Get to know BDO Global
BDO is an international network of public accounting, tax, and advisory firms showcasing a remarkable 10.2% year-on-year growth as of Sept. 30, 2023. The network’s commitment to quality, underpinned by a deep understanding of client needs and a culture of excellence, sustains BDO’s position as a global leader in professional services.
As part of the international BDO network, we provide world-class insights, resources, and data to support our clients through every stage of their business.
BDO Global figures
- Revenue: US$14 B
- People: 115,661
- Percentage revenue by region:
- 32% Europe, the Middle East, and Africa
- 11% Asia-Pacific
- 57% Americas
- Offices: 1,776
- Countries and territories: 166
Global details current as of Sept. 30, 2023
2023 momentum: Moving our sustainability strategy forward
Our firm’s sustainability strategy centres on three main pillars: environmental action, social commitment, and governance structure.
In 2023, we made significant advancements toward achieving our goals and holding ourselves accountable. Based on the results of the materiality assessment we completed in 2021, we identified the ESG topics that were most important to our business and key stakeholders.
To view our ESG materiality assessment results, see Appendix C.
The table below highlights key milestones our firm achieved in each pillar. We proudly report that we are on track to achieve our objectives across all pillars.
| ESG pillar | Pillar description | Key target | 2023 performance |
|---|---|---|---|
Environmental action
| Embed environmental action and leading sustainability practices into our firm operations with a focus on reducing our carbon footprint. | Achieve net-zero carbon emissions by 2050. |
|
Social commitment
| Create an inclusive and equitable work environment that supports the health and well-being of our people and communities through strong social commitments.
| Maintain 50% gender parity and 30% representation from combined diversity pillars in senior leadership roles. |
|
Governance structure
| Ensure our firm governance structure is robust and incorporates leading practices that build trust. |
|
|
Engagement and material ESG topics
Engagement is a central part of our firm’s commitment to sustainability. In 2021, we conducted a formal materiality assessment to determine our firm’s priority ESG areas of focus.
Through a combination of surveys, workshops, market research, an analysis of peer ESG reports, and industry trends, we identified our material ESG topics and priorities.
To inform our materiality assessment, we performed the following activities:
- Conducted an analysis of relevant ESG reports.
- Completed a comprehensive market study.
- Consulted with more than 1,000 participants. To ensure we gathered many different insights on ESG, participants in the study included those with the following criteria:
- Geography, influence, diversity, industry, and reliability.
- External participants included suppliers, academics, and clients.
- Internal groups included our leadership team, partners, and employees; our global counterpart, BDO Global; and internal subject matter experts.
- Insights were obtained through a combination of tactics that included survey responses, workshops, desktop research, and an analysis of external trends at both a national and global level.
- BDO’s prioritization of topics was scored and objectively evaluated, resulting in a materiality matrix (see Appendix C) illustrating our firm’s ESG priorities.
In addition to our formal materiality assessment, we continue to engage directly and indirectly throughout the year to understand the ESG issues that are most significant. Through this ongoing engagement, we gain a better understanding of how we can enhance our existing programs and initiatives and move our sustainability program forward.
In 2023, we executed the following engagement initiatives:
- Conducted a talent experience survey to better understand how we can implement a differentiated workplace for our people.
- Held virtual interviews and a firm-wide survey to better understand how we can build a more accessible BDO in line with the Accessible Canada Act.
- Conducted internal commuting surveys to enhance our firm’s climate strategy and data accuracy.
- Had regular discussions with our Finance and Real Estate teams to improve data quality for GHG emissions.
- Collaborated with our property managers and real estate brokers to include ESG requirements into leasing language.
- Engaged in continuous client engagement throughout the year by project teams.
- Hosted live firm-wide webinars.
We intend to maintain an open dialogue and to reconduct a formal materiality assessment in 2025 to ensure that emerging ESG issues are identified and incorporated into our strategy as our firm matures along its sustainability journey.
Alignment with the United Nations Sustainable Development Goals
There are 17 United Nations Sustainable Development Goals (UNSDGs) adopted by all United Nations member states in 2015. Below we highlight the seven UNSDGs we align with and our people’s perspectives on each commitment.
Zero Hunger
“I look forward to the firm’s Drive Away Hunger campaign each and every year. The shared commitment of my colleagues transforms our office into a compassionate community, united in the common goal of making a positive impact in the lives of those facing food insecurity.”
—Cristina Peelar, Administrative Professional
Good Health & Well-Being
“The health and wellness benefit encouraged me to think outside the box when it comes to healthy activities. Aside from my regular gym membership, which the wellness benefit helps to fund, I also added a virtual race and some home fitness equipment to my regular fitness routine. BDO’s generous health and wellness reimbursement opened the door for me to try new things and up my fitness game.”
—Alison Drover, Senior Manager, Brand & Operations
Quality Education
“I am so grateful to BDO for supporting me over the years while I pursued my CPA designation. Not only did the company reimburse my fees, but they also provided extra paid study days. My people leaders and CFE mentor made a huge effort to ensure my workload was manageable to accommodate my studying. I am so happy to be a successful CFE writer and soon enough, call myself a CPA!”
—Ashna Behl, Consultant, Risk Advisory Services
Gender Equality
“Participating in the group mentoring sessions has proven to be an invaluable opportunity for networking with accomplished women within the firm. These sessions have provided a platform for meaningful dialogue, allowing me to engage with professionals whom I might not have had the opportunity to connect with otherwise.”
—Christina George, Manager, Internal Administration
Decent work and economic growth
“My work with small and medium-sized businesses allows me to see firsthand the significant impact they have in their local communities. I am proud of the role I play in helping them to be successful and contribute to the economy in a meaningful way.”
—Michele Anderson, Senior Manager, Business Services & Outsourcing
Industry, innovation and infrastructure
“It’s an exciting time to be involved with innovation at the firm. We’re constantly evaluating new trends that will impact our people and our clients and making thoughtful investments in innovation initiatives. I’m proud of the work we’re doing to position BDO as a leader in the market.”
—Anthony Morra, Partner, Data Strategy, Analytics and Governance
Climate Action
“Not only is BDO committed to doing our part to combat climate change, but we’re working hard to ensure our clients are also equipped to lead change in their organizations. We understand everyone has a role to play in progressing sustainability and we maintain a comprehensive ESG service offering as a result.”
—Mohamed Salem, Senior Consultant, Risk Advisory Services
We are part of the BDO Global Sustainability Movement
BDO firms are committed to making a difference in their respective markets through our collective BDO Global Sustainability Movement, which encourages everyone in the BDO community to learn more about how they can embrace sustainability practices as individuals, BDO professionals, and advisors to clients.
BDO Global champions the pursuit of excellence with its bold vision: Global solutions. Driven to be the best. This vision is brought to life through its core purpose—people helping people—which reflects a deep-seated commitment to collaboration, human connection, and mutual support.
In 2023, our firm advanced the following goals as part of this global movement:
- Contributed to BDO Global’s carbon footprint report
- Supported other member firms in calculating their carbon footprint in order to enhance global climate reporting.
- Net Zero Financial Service Providers Alliance
- Through our BDO Global network, we are a signatory of the Net Zero Financial Service Providers Alliance, a global group of financial service providers supporting the goal of net-zero GHG emissions by 2050 or sooner.
- In 2023, we made progress towards reaching net zero by 2050 or sooner and meeting our environmental commitments.
- Data quality and technology
- Selected a technology solution to support our ESG reporting capabilities and carbon footprint calculation through enhanced data quality and automation.
Client services: A practical approach to ESG
As ESG issues evolve and take on new dimensions, we are continually adapting our strategy to provide value and offering new sustainability services to support our clients’ sustainability journeys.
Our goal is to apply a sustainability lens and implement practical ESG principles within our operations and our client-service model.
We advise our clients on how to embed sustainability into their operations with pragmatic and actionable strategies. Our client facing teams assist organizations to be better, do better, be more efficient, and contribute to a more sustainable future through a range of practical services and tools. We apply a value-creation lens to clients’ ESG programs, strategically aligning ESG objectives and decarbonization initiatives with opportunities for government funding.
Our suite of ESG services encompasses comprehensive offerings relevant to organizations in all sectors of activity, similar to how we approach our internal ESG program.