27 August 2014: Net Balance has announced that it is joining EY’s climate change and sustainability services group. The result will see the combined team become the biggest sustainability practice in Australia working with clients across the public, private and not for profit sectors.
Terence Jeyaretnam of Net Balance
EY Asia-Pacific Climate Change and Sustainability Leader Mathew Nelson said the addition of Net Balance to EY’s Assurance practice is an exciting development. Net Balance’s company’s founder and Director Terence Jeyaretnam is to be part of the team.
“This will see EY Australia’s national dedicated Climate Change and Sustainability Services team grow to more than 90 people and become Australia’s leading advisors in the areas of sustainability strategy, reporting and assurance, social impact, carbon, energy, health, safety and environment.
“The combined technical and strategic capability of Net Balance and EY teams will provide clients with unique expertise to help them meet their sustainability challenges.
“This acquisition will further strengthen EY’s ability to service our clients across all areas of sustainability and climate change, particularly social, supply chain, energy and sustainability advisory services,” Mr Nelson said.
Biggest sustainability practice in Australia
Mr Jeyaretnam said Net Balance was looking forward to joining EY’s climate change and sustainability practice.
“The dual EY and Net Balance team will clearly be the largest sustainability practice in Australia with deep technical expertise and experience.
“Joining our colleagues at EY is very exciting as it will present both our clients and our staff with significant opportunities especially as we look to expand into new markets and broaden the range of services, projects and initiatives we can offer,” Mr Jeyaretnam said.
The Net Balance Foundation will remain as will many key Foundation projects such as CitySwitch. ECO-Buy will also continue to provide services to its national membership base.
Net Balance has worked with major Australian companies including Woolworths, Telstra, Stockland, World Vision, NAB, AGL, Bunnings, Insurance Australia Group, Commonwealth Bank, EnergyAustralia, Officeworks, Australian Super, Lloyds Banking Group, Leighton Holdings and Transport for NSW.
Net Balance’s current clients will see little if any impact as a result of the move. Services have included sustainability advice, assurance and research and provision of other technical capabilities in economic, environmental and social sustainability.
The acquisition of the sustainability practice is intended to be completed in late September 2014. Then it is expected that Net Balance will be fully integrated with EY. That includes relocating staff to EY offices in Melbourne, Sydney and Brisbane.