The accessible version of our 2022 ESG report is available for viewing.
ESG and sustainability are a dynamic, purposeful journey.
As part of our ongoing journey of continual ESG improvement, we are pleased to share our ESG report for 2022.
This annual report details our progress toward ESG goals while outlining our environmental commitments, people-focused policies, governance structure, and dedicated resources to this increasingly important aspect of doing business.
BDO Canada’s ESG report is an important milestone that conveys our unwavering commitment to our people, our clients, our firm, and our planet. It showcases our purposeful, progressive evolution towards a better future, one that underpins our firm vision: to bend the arc of possibility for our people, our clients, and our firm.”
Our strategy: How we’re moving forward on ESG and sustainability
ESG considerations are the foundational cornerstone of our decision-making, embedded prominently within our values, culture, processes, functions, and organizational framework. This underscores our commitment to creating a brighter future that benefits our people, stakeholders, and planet.
Our sustainability strategy focuses on four main pillars, predicated on the effects of market shifts and the results of the materiality assessment we conducted to identify ESG topics our firm and stakeholders believe can make the greatest impact. With these insights, we formalized our ESG journey.
These pillars include:
Social commitment
Create an inclusive and equitable work environment and support communities through strong social commitments.
Environmental action
Embed environmental practices into our operations with a focus on reaching net-zero emissions by 2050.
Governance structure
Ensure our firm governance structure is robust and incorporates leading practices that build trust.
Client support
Lead by example and support clients on their sustainability journey by providing comprehensive ESG services.
Efforts to uplift our people, protect our environment, and maintain strong corporate governance have long been ingrained in our firm’s guiding principles—what’s new is our commitment to documenting and reporting on our progress towards these goals.”
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.
In 2022, we began measuring our carbon footprint and establishing estimates for our emissions reductions. Scope 1 emissions are those resulting from our facilities and vehicles. Emissions within Scope 2 result from purchased electricity and heating used by our firm. Scope 3 emissions occur with our supply chain, such as purchased goods and services, and business travel.
Our 2022 emissions breakdown by scope:
*Emissions by mT CO2e (metric tonnes of carbon dioxide equivalent)
We have a clear understanding of the role large organizations play in combatting climate change and remain committed to doing our part, as well as encouraging our clients to do the same.”
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, and succeed. It also involves working together to build stronger, healthier, and thriving communities.
Diversity, equity, and inclusion (DEI)
We proudly report that 44% of our Executive Leadership Team (ELT) are women, and 37.5% consist of other equity-deserving groups. In 2022, we set measurable targets to achieve 50% gender parity and 30% representation from combined diversity pillars in senior roles.
In collaboration with our DEI pillar leads who support Indigenous groups, LGBTQ2S+, persons with disabilities, racialized groups, and women, we continue to deliver education and awareness-building programs to nurture the success of underrepresented groups within BDO.
In collaboration with our DEI pillar leads who support Indigenous groups, LGBTQ2S+, persons with disabilities, racialized groups, and women, we continue to deliver education and awareness-building programs to nurture the success of underrepresented groups within BDO.
Health and well-being
Through a variety of policies, programs, events, and partnerships, we provide our people with a healthy, safe, inclusive, accessible, and supportive workplace—because advocating for our people’s wellness and mental health has a positive influence on every part of their day-to-day lives, including the work environment.
Learning and development
Our people bring unique value to our firm. We empower our people to reach their personal and career goals and ambitions by providing holistic development opportunities, offering social and team learning opportunities, and supporting our people in driving continued development on the job.
In 2022, our people received an average of 32 hours of per-person training. The average training expenditure per full-time employee amounted to $1,966.
Community impact
We all have a role to play in delivering value to the vibrant and dynamic communities in which we live, work, and play.
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.
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.
Innovating for growth
We are dedicated to generating new ideas and refreshing our ways of working to improve how we deliver products, services, and experiences to our people and clients. In 2022, we created a dedicated Innovation & Change team focused on developing and operationalizing purposeful innovations that deliver measurable and tangible benefits.
Diversity, equity, and inclusion isn’t a line item, and it’s not just the right thing to do. It goes to the core of what our teams are all about. The more inclusive we are as an organization, the stronger we’ll be.”
Farm Credit Canada’s Drive Away Hunger campaign is our largest firm-wide social responsibility program. We’ve supported Drive Away Hunger for over 15 consecutive years, and the initiative has grown to become a uniting and inspiring program for both rural and urban offices from coast to coast.
In 2022, our people raised $252,320 for Drive Away Hunger and $2.5 M since our first year supporting the event in 2008.
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 of Directors 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 with representation from all service lines across the organization, elected by the partner group; and
- two external independent members selected by the Board.
Our firm promotes a culture of integrity and ethical behaviour through compliance with prevailing laws, regulations, and internal policies.
In 2022, we enhanced our Enterprise Risk Management (ERM) program, which identifies and assesses risks that could impact the ability of BDO to achieve its objectives, with a focus on priority risks, emerging risks, and mitigation strategies.
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.