Deloitte Luxembourg Releases 2023 Impact Report, Records 14% Increase in Revenue

On Thursday 30 November 2023, Deloitte Luxembourg released its fifth annual Impact Report, showcasing various initiatives undertaken for clients, workers, communities and the planet.

Deloitte professionals have access to over 350 well-being sessions, an average of 47 hours of training and professional development and diverse career paths. Initiatives like the Women In/To Leadership network, the Working Parents Programme, and GLOBE (an LGBT+ and allies’ network) are also available.

John Psaila, CEO and Managing Partner at Deloitte Luxembourg, said: “Today's companies bear the responsibility to ensure their actions align with their narratives. At Deloitte, we strive to lead by example in fostering more sustainable and prosperous futures. This approach is integral to how we evaluate our performance as a firm driven by purpose. A prime example of our commitment is the recent establishment of the Deloitte Foundation, which broadens and strengthens our efforts.”

The firm reported that as it advances toward its sustainability goals, which include the local commitment to reduce greenhouse gas emissions, its approach is twofold: actions taken and actions inspired. In this context, it mentioned that the My Sustainable Life initiative commenced with a focus on self-assessments, where each professional used the Giki Zero carbon calculator to calculate their carbon footprint. The subsequent phase involved introducing various lifestyle changes as new resolutions. Moreover, Deloitte highlighted that during this year's Earth Month, the emphasis transitioned to a circular economy sensitisation programme.

Francesca Messini, Partner and Sustainability Leader at Deloitte Luxembourg, said: “Immediate local actions are necessary to address the profound global changes we are witnessing. At Deloitte, we are bolstering our efforts to meet this critical challenge at both the firm and individual levels. We are developing and implementing concrete solutions while guiding our clients in this vital transition to a more sustainable model, for the benefit of future generations.”

Moreover, Deloitte’s WorldClass initiative has as an aim to positively impact 100 million lives by 2030, with Deloitte Luxembourg aspiring to support 19,000 people locally and internationally. In the financial year 2023, Deloitte Luxembourg has already achieved 51% of its 2030 target, impacting 9,706 individuals directly or indirectly since the initiative’s inception in 2019. The firm focuses its support on local organisations involved in education, equality and helping vulnerable populations.

The Deloitte Foundation was established in 2023 and reported its commitment to making a meaningful impact through philanthropic endeavours. It focuses on select United Nations Sustainable Development Goals, including health and well-being, quality education, gender equality, economic growth, reduced inequalities and climate action. The Foundation seeks to consolidate longstanding outreach efforts and partnerships within a unified framework, thereby improving the firm's capacity to assess and convey its impact.

Deloitte Luxembourg also published its annual results as part of its 2023 Impact Report. The firm reported “robust growth”, with a 14% increase in its firmwide gross revenues, which reached €462 million in 2023. Reflecting the firm’s distinctive multidisciplinary model, growth across all three business lines contributed to this result, with audit & assurance up by 16%, advisory & consulting by 17%, and tax by 9%.

“The resilience and agility inherent in our multidisciplinary approach have once again paved the way for sustained growth. This achievement stands as a testament to the enduring trust we have cultivated with our clients and within the marketplace over the years. As we look to the future, the vast opportunities presented by digitalisation, coupled with our intensified focus on innovation – particularly in the realm of GenAI – are set to offer fresh perspectives that will significantly enhance our impact,” said John Psaila.

The full Impact Report with examples centred around business, governance, environmental and social pillars is available at: https://www.deloitte.com/lu/impact-report-2023.