EY Canada announced the acquisition of sustainability consulting firm AFARA, in a move aimed at deepening its ESG capabilities and help clients to navigate the energy transition.

Kent Kaufield, Chief Sustainability Officer and ESG Markets Leader at EY Canada, said:

“Businesses around the world are now embracing societal change and sustainable development as road maps to long-term success — and we are excited to play a role in that journey. At the end of the day, sustainability is everybody’s business. With AFARA, we look forward to helping clients build resilient, sustainable companies and economies, while furthering the energy transition.”

With offices in Calgary and Toronto, AFARA and its team of multidisciplinary consultants provides solutions for public and private sector organizations to make lasting improvements in sustainability performance. The firm will join the EY-Parthenon strategy consulting practice, helping clients to address their increasing ESG challenges.

AFARA President Dan Zilnik said:

“Both EY and AFARA have track records of helping clients navigate their ESG journeys as they work towards setting, meeting and reporting on key targets that build trust with stakeholders and capital markets. There is no doubt that we are about to accelerate and magnify our combined impact by joining forces.”

The acquisition comes as EY moves to boost its own ESG capabilities and expertise. As part of a series of sustainability goals announced last year, EY pledged to invest in services and solutions that help its clients profitably decarbonize their businesses and provide solutions to other sustainability challenges and opportunities. Earlier this year, the firm announced a program to offer a fully accredited Masters in Sustainability to all of its 312,000 employees free of charge, in association with Hult International Business School.

Dave Rogers, Canadian Strategy Leader at EY-Parthenon, said:

“From setting greenhouse gas reduction targets, to turning carbon dioxide pollution into valuable products and scaling up transformational recycling technologies, we’re helping leaders reframe their sustainability strategy to help protect and create value for business, people, society and the world.”