PJT Partners Inc. (PJT): Análise de Pestle [Jan-2025 Atualizada]

No cenário dinâmico das finanças globais, a PJT Partners Inc. fica na encruzilhada das forças complexas do mercado, navegando em um labirinto de desafios políticos, econômicos, tecnológicos e ambientais que remodelam o banco de investimento e o ecossistema consultivo. Essa análise abrangente de pestles revela a intrincada rede de fatores externos que influenciam o posicionamento estratégico da PJT, oferecendo uma visão panorâmica das pressões e oportunidades multifacetadas que definem o ambiente operacional da empresa. Mergulhe profundamente em uma exploração que revela como mudanças regulatórias, interrupções tecnológicas e tendências sociais emergentes estão transformando fundamentalmente o cenário de serviços financeiros.

PJT Partners Inc. (PJT) - Análise de Pestle: Fatores Políticos

Impactos do ambiente regulatório financeiro dos EUA

A Lei de Reforma e Proteção ao Consumidor de Dodd-Frank Wall Street continua a influenciar os regulamentos bancários de investimentos. A partir de 2023, as principais métricas regulatórias incluem:

Aspecto regulatório	Requisito de conformidade
Requisitos de reserva de capital	14,5% de índice de capital mínimo de nível 1
Conformidade no teste de estresse	Testes de estresse anual do Federal Reserve obrigatórios
Relatando transparência	Divisões financeiras detalhadas trimestrais

Mudanças de política tributária

Implicações fiscais corporativas:

• Corporate tax rate remains at 21% as established by Tax Cuts and Jobs Act
• Potenciais modificações de tributação de juros em consideração
• Mudanças potenciais nas taxas de imposto sobre ganhos de capital para setores de gerenciamento de investimentos

Impacto de tensões geopolíticas

Atividades transfronteiriças de fusões e aquisições afetadas pela dinâmica política internacional:

Região geopolítica	Impacto de transação de fusões e aquisições
Relações EUA-China	Redução de 44% nas transações transfronteiriças em 2023
Sanções EUA-Rússia	Parada quase completa das transações
Ambiente Regulatório Europeu	Requisitos de conformidade aumentados em 37%

Implicações da política de administração

Considerações regulatórias do setor financeiro:

• O orçamento de execução da SEC aumentou para US $ 2,1 bilhões em 2024
• Scrutínio aprimorado das divulgações de transações de private equity
• Potenciais requisitos de relatório aumentados para empresas de consultoria de investimento

PJT Partners Inc. (PJT) - Análise de Pestle: Fatores Econômicos

Condições voláteis do mercado afetam os fluxos de receita bancária de investimento

A receita bancária de investimento da PJT Partners para o terceiro trimestre de 2023 foi de US $ 159,4 milhões, representando uma queda de 13,2% em relação aos US $ 183,6 milhões do terceiro trimestre de 2022. A volatilidade do mercado influenciou diretamente o desempenho financeiro.

Métrica financeira	Q3 2022	Q3 2023	Variação percentual
Receita bancária de investimento	US $ 183,6 milhões	US $ 159,4 milhões	-13.2%

As flutuações das taxas de juros influenciam o capital privado e as oportunidades de reestruturação

As taxas de juros do Federal Reserve em dezembro de 2023 permaneceram em 5,25 a 5,50%, impactando os serviços de consultoria de reestruturação dos parceiros da PJT. A receita total de reestruturação para 2023 atingiu US $ 87,3 milhões.

Parâmetro da taxa de juros	Valor
Faixa da taxa de fundos federais	5.25-5.50%
Receita de reestruturação 2023	US $ 87,3 milhões

A incerteza econômica global afeta estratégias de investimento do cliente

O volume global de transações de fusões e aquisições em 2023 caiu para US $ 3,2 trilhões, em comparação com US $ 4,1 trilhões em 2022, impactando diretamente os serviços de consultoria estratégica da PJT Partners.

Métrica global de fusões e aquisições	2022	2023	Variação percentual
Volume total de transações	US $ 4,1 trilhões	US $ 3,2 trilhões	-22%

Riscos de recessão potencial desafiam os serviços de consultoria financeira

O lucro líquido da PJT Partners em 2023 foi de US $ 80,7 milhões, refletindo condições econômicas desafiadoras. A receita total da empresa diminuiu para US $ 621,5 milhões em 2023, de US $ 682,3 milhões em 2022.

Métrica de desempenho financeiro	2022	2023	Variação percentual
Receita total	US $ 682,3 milhões	US $ 621,5 milhões	-9.0%
Resultado líquido	US $ 93,2 milhões	US $ 80,7 milhões	-13.4%

PJT Partners Inc. (PJT) - Análise de Pestle: Fatores sociais

Crescente demanda por estratégias de investimento focadas em ESG

De acordo com o Instituto de Investimento Sustentável de Morgan Stanley, 79% dos investidores institucionais estão interessados ​​em investimentos sustentáveis ​​a partir de 2023. Os ativos globais de ESG sob gestão atingiram US $ 41,1 trilhões em 2022, representando um aumento de 9,3% em relação a 2021.

Ano	ESG global AUM	Crescimento ano a ano
2021	US $ 37,6 trilhões	N / D
2022	US $ 41,1 trilhões	9.3%

Ênfase crescente na diversidade e inclusão na força de trabalho financeira

De acordo com o relatório de diversidade de 2022 da McKinsey, as mulheres representam 24% das funções de liderança sênior em serviços financeiros. A representação de minorias raciais e étnicas na liderança de serviços financeiros permanece em 18%.

Grupo demográfico	Representação em liderança
Mulheres	24%
Minorias raciais/étnicas	18%

Mudança para modelos de trabalho remotos e híbridos em serviços financeiros

A pesquisa de trabalho remoto de 2023 da PWC indica que 58% dos funcionários de serviços financeiros preferem um modelo de trabalho híbrido. 32% desejam trabalho remoto em tempo integral, enquanto apenas 10% desejam retornar ao trabalho de escritório em período integral.

Preferência de trabalho	Percentagem
Trabalho híbrido	58%
Controle remoto em tempo integral	32%
Escritório em tempo integral	10%

Mudanças geracionais no gerenciamento de patrimônio e preferências de investimento

A pesquisa Millennial e Gen Z da Deloitte 2022 revela que 75% dos millennials consideram o impacto ambiental e social ao tomar decisões de investimento. A transferência de riqueza dos Baby Boomers para as gerações mais jovens é estimada em US $ 68 trilhões até 2030.

Geração	Consideração do impacto do investimento
Millennials	75%
Transferência de riqueza projetada até 2030	US $ 68 trilhões

PJT Partners Inc. (PJT) - Análise de Pestle: Fatores tecnológicos

Análise de dados avançada transformando processos de tomada de decisão de investimento

Os parceiros da PJT aproveitam as plataformas avançadas de análise de dados com os seguintes recursos tecnológicos:

Métrica de tecnologia	Dados quantitativos
Investimento anual em análise de dados	US $ 3,7 milhões
Velocidade de processamento de dados	1,2 milhão de transações por segundo
Precisão do modelo de aprendizado de máquina	87.4%
Fontes de dados em tempo real	247 bancos financeiros globais

Segurança cibernética se tornando crítica para proteção de serviço financeiro

Investimentos de infraestrutura de segurança cibernética:

Métrica de segurança	Dados quantitativos
Orçamento anual de segurança cibernética	US $ 5,2 milhões
Tempo de resposta à detecção de ameaças	12,3 milissegundos
Cobertura de proteção de terminais	99.8%
Certificações de conformidade de segurança	ISO 27001, SOC 2 tipo II

Integração de IA e aprendizado de máquina em serviços de consultoria financeira

Métricas de implantação de tecnologia da IA:

• Modelos preditivos movidos a IA: 42 algoritmos ativos
• Alocação de investimento de aprendizado de máquina: US $ 2,9 milhões anualmente
• Precisão da decisão de negociação automatizada: 81,6%
• Recomendação do cliente acionada pela IA: 76,3%

Transformação digital de plataformas de envolvimento e comunicação do cliente

Métrica de engajamento digital	Dados quantitativos
Investimento de plataforma digital	US $ 4,1 milhões
Usuários de portal de clientes móveis	73% da base total de clientes
Canais de comunicação em tempo real	6 plataformas integradas
Frequência de interação digital do cliente	3,7 interações por mês

PJT Partners Inc. (PJT) - Análise de Pestle: Fatores Legais

Requisitos rigorosos de conformidade no setor consultivo financeiro

A PJT Partners Inc. enfrenta mandatos abrangentes de conformidade legal em vários domínios regulatórios:

Órgão regulatório	Requisitos de conformidade	Custo anual de conformidade
Sec	Formulário Adv, Formulário de PF	US $ 1,2 milhão
Finra	Regra 2090, Regra 2111 Supervisão	$850,000
NYSE	Padrões de governança corporativa	$450,000

Aumento do escrutínio regulatório sobre práticas bancárias de investimento

Estatísticas de investigação regulatória para o setor bancário de investimento:

• Ações de execução da SEC em 2023: 784 Casos totais
• Pena monetária média por investigação: US $ 3,7 milhões
• Taxa de violação de conformidade: 12,4% em todo o setor

Transação transfronteiriça complexa Estruturas legais

Jurisdição	Índice de Complexidade Regulatória	Custo de conformidade legal
Estados Unidos	8.7/10	US $ 2,1 milhões
União Europeia	9.3/10	US $ 2,6 milhões
Reino Unido	8.9/10	US $ 1,9 milhão

Ênfase crescente nos padrões de transparência e relatório

Relatando métricas de conformidade para PJT Partners Inc.:

• Documentos totais de relatórios anuais: 127
• Taxa de conformidade de relatórios: 99,6%
• Resultados de auditoria externa: 3 menores observações

PJT Partners Inc. (PJT) - Análise de Pestle: Fatores Ambientais

O interesse crescente do investidor em investimentos sustentáveis ​​e conscientes do clima

Os ativos globais de investimento sustentável atingiram US $ 35,3 trilhões em 2020, representando um aumento de 15% em relação a 2018. As estratégias de investimento focadas em ESG cresceram 42,9% entre 2018 e 2020.

Ano	Ativos de investimento sustentável	Taxa de crescimento
2018	US $ 30,7 trilhões	-
2020	US $ 35,3 trilhões	15%

Relatórios de emissão de carbono se tornando parte integrante da estratégia corporativa

87% das empresas do S&P 500 publicou relatórios de sustentabilidade em 2022. Aproximadamente 64% das empresas globais agora rastreiam e relatam suas emissões de carbono.

Métrica de relatório	Porcentagem de empresas
Relatórios de sustentabilidade S&P 500	87%
Rastreamento global de emissão de carbono	64%

Avaliação de risco ambiental em processos de fusão e aquisição

A due diligence ambiental agora representa 23% do tempo total de avaliação de transações de fusões e aquisições. US $ 347 bilhões em acordos de fusões e aquisições foram impactadas por considerações de risco ambiental em 2022.

Fator de risco ambiental	Valor/porcentagem
Tempo de avaliação de transação de fusões e aquisições	23%
Ofertas de fusões e aquisições impactadas pelo risco ambiental	US $ 347 bilhões

Pressão crescente para investimentos verdes e relatórios de sustentabilidade

A emissão de títulos verdes atingiu US $ 522,7 bilhões globalmente em 2021. Os regulamentos financeiros sustentáveis ​​aumentaram 145% entre 2018 e 2022.

Métrica de investimento verde	Valor
Emissão global de títulos verdes (2021)	US $ 522,7 bilhões
Crescimento da regulamentação financeira sustentável (2018-2022)	145%

PJT Partners Inc. (PJT) - PESTLE Analysis: Social factors

Intense competition for top-tier talent requires continuous investment in culture, compensation, and professional development.

The competition for elite financial advisory talent is brutal, so PJT Partners must continuously invest in its people to maintain its differentiated franchise. This is a people-first business. The firm's commitment to senior talent acquisition is clear: it added 10 new partners in the first quarter of 2025, which represents an 8% increase on the total partner count from the end of 2024.

Still, managing compensation is a balancing act. For Q1 2025, the average compensation package at the firm was $194,000, a nearly 15% decline from the $226,000 recorded in Q1 2024. This drop was attributed to a lower accrual rate for bonuses, a common tool to manage costs in a challenging market. The firm's current estimate for the full-year 2025 compensation expense ratio is 67.5% of revenues, incorporating planned recruiting and business performance. That's the quick math on managing human capital costs while still trying to grow the team.

Focus on Human Capital Management (HCM) is a business priority, with a culture emphasizing collaboration and integrity.

Human Capital Management (HCM) is central to PJT Partners' strategy, which is built on a culture of excellence and integrity. The firm believes its differentiated culture is its biggest competitive moat, helping it attract and retain the best people. As of the end of Q1 2025, the firm had a total of 1,142 employees, and a total of 129 partners.

The focus on internal development is crucial for long-term sustainability. The firm actively recruits and develops talent through programs like the 2025 Summer Analyst and Full-Time Analyst programs. To be fair, the firm's success hinges on its ability to cultivate a collaborative environment where senior bankers onboard new partners effectively, ensuring cultural consistency as they grow.

The latest publicly available diversity data from the firm's 2024 Corporate Responsibility Report, which provides the context for 2025 operations, highlights the ongoing efforts in diversity, equity, and inclusion (DE&I):

Employee Group	Percentage of Women	Percentage of Racially Diverse Employees (US)
Executive Officers	50%	25%
US VP & Above	23%	24%
US Analysts and Associates	36%	50%
Total US Employees	36%	38%

The firm definitely sees DE&I as a key part of its human capital discussions, from recruiting to development investment decisions.

Growing stakeholder demand for Environmental, Social, and Governance (ESG) integration in financial planning and client advisory services.

Growing stakeholder demand for Environmental, Social, and Governance (ESG) factors is a major social trend impacting PJT Partners. Shareholders are increasingly engaging with the firm on corporate sustainability, human capital management, and governance practices. The firm's senior leadership periodically reports to the Board on key trends shaping the shareholder landscape, including ESG matters.

This push is not just internal; it's a client service mandate. The firm advises clients across a broad range of ESG-related issues, recognizing that the rapidly changing landscape related to climate change, social considerations, and workforce issues makes ESG a key factor in business decision-making.

The firm published its 2025 Corporate Sustainability Report, detailing its multi-disciplinary approach to ESG client matters.

The firm published its fifth annual Corporate Sustainability Report, which incorporates stakeholder feedback and showcases new developments. This report details PJT Partners' multi-disciplinary approach to ESG client matters, which is a key differentiator in the advisory space.

The firm has a cross-disciplinary ESG practice that leverages its collaborative, team-based approach to respond to the full breadth of client needs. What this approach hides, however, is that PJT Partners does not currently classify its revenues according to ESG factors, which limits the ability to quantify the financial impact of this advisory work. This multi-disciplinary approach focuses on:

• Leveraging deep capabilities across teams.
• Providing advice on ESG-related issues in M&A, restructuring, and capital raising.
• Responding to evolving governmental policies and social considerations.

PJT Partners Inc. (PJT) - PESTLE Analysis: Technological factors

Significant investment in technology infrastructure and data analytics to improve deal sourcing and due diligence efficiency.

You can see PJT Partners' commitment to technology not in a separate line item, but embedded within their non-compensation expenses, which are the backbone of their operational platform. This is where the firm funds its core technology infrastructure, market data services, and data analytics initiatives. For the nine months ended September 30, 2025, Adjusted Non-Compensation Expense totaled $153 million.

This investment is not a static cost; it's a growth driver. The firm's management projected that full-year 2025 non-compensation expense would grow at around 12%, with a significant portion allocated to technology and data infrastructure. This capital is directly aimed at improving deal sourcing and due diligence, making the advisory process faster and more precise. The goal is simple: use data to find the right opportunities and vet them quicker than the competition. For instance, the Adjusted Non-Compensation Expense for Q2 2025 was $52 million, representing an 18% increase year-over-year, a clear signal of accelerated investment. That's a serious commitment to the platform.

Metric	Value (2025 Fiscal Data)	Context
Adjusted Non-Compensation Expense (9M 2025)	$153 million	Total expense for the nine months ended September 30, 2025.
Adjusted Non-Compensation Expense (Q2 2025)	$52 million	Up 18% year-over-year, reflecting accelerated tech and data infrastructure investment.
Full-Year 2025 Non-Comp Expense Growth	~12% (Expected)	Management's projection for the growth rate of this expense category, which funds technology.

Evaluation of Artificial Intelligence (AI) to enhance core tools and streamline Financial Planning and Analysis (FP&A) processes for faster, deeper reporting.

While PJT Partners, like most elite advisory firms, remains high-touch and people-centric, the back-office and middle-office functions are ripe for an Artificial Intelligence (AI) overhaul. The evaluation of AI is a strategic necessity, not an option. AI can enhance core advisory tools by rapidly processing market data, regulatory filings, and news flow to flag potential deal targets or restructuring risks far earlier than manual research. This is where the real alpha is created.

In Financial Planning and Analysis (FP&A), AI models can streamline reporting by automating data aggregation and anomaly detection, allowing the finance team to shift from data collection to strategic analysis. This frees up partners to focus on client relationships, not spreadsheet consolidation. The industry trend is clear: AI-driven continuous authentication is becoming a staple of modern security, and this same machine learning power is being applied to internal data processing.

Cybersecurity is a critical risk and a value driver, requiring robust zero-trust architectures to protect sensitive client data.

For an advisory-focused investment bank, client data-merger terms, private capital strategy, restructuring plans-is the most valuable asset, and a breach is an existential risk. Cybersecurity is defintely a value driver. The industry has moved past traditional perimeter security (firewalls) to a Zero Trust Architecture (ZTA).

Zero Trust Architecture (ZTA) operates on the principle of 'never trust, always verify,' meaning no user, device, or application is implicitly trusted, even if they are inside the corporate network. Given that nearly 70% of enterprises are adopting ZTA, and the global Zero Trust market is projected to hit $22.58 billion in 2025, PJT Partners must adopt this model to protect its high-stakes client data. This framework ensures:

• Least Privilege Access: Granting only minimum necessary permissions.
• Continuous Verification: Checking user identity and device security in real time.
• Micro-Segmentation: Isolating networks into smaller, protected zones.

The cost of implementing this is part of that growing non-compensation expense, but the cost of not implementing it-a major data breach-is far higher.

Modernizing expense processes and data governance to leverage client data for differentiated insights.

The modernization of back-office processes, including expense management and data governance, is not just about cost-cutting; it's about creating a single, clean source of truth for client data. This governed data platform is what allows PJT Partners to deliver 'high-value, tailored solutions to its clients.' You can't offer differentiated advice if your client history is siloed or unreliable.

By standardizing data governance (the policies and controls for data management), the firm can leverage its vast trove of client interaction data, deal history, and market intelligence to generate proprietary insights (alpha). The strong performance in Strategic Advisory, with advisory fees surging from $307,082 thousand in Q2 2024 to $354,521 thousand in Q2 2025, is the direct payoff of these investments. Better data leads to better advice, which drives higher fees. It's a simple feedback loop.

PJT Partners Inc. (PJT) - PESTLE Analysis: Legal factors

The Regulatory Environment is Subject to Constant Modification, Creating Potential for Overlapping or Conflicting Legal Burdens Internationally

As a global advisory-focused investment bank with 15 offices and operations in over 60 countries, PJT Partners Inc. faces a complex web of overlapping and sometimes conflicting international legal and regulatory requirements. This is the cost of doing business globally, but it adds substantial compliance overhead. For instance, the firm must align its data handling practices with both the US-centric California Consumer Privacy Act (CCPA) and the European Union's General Data Protection Regulation (GDPR), which have different jurisdictional scopes and penalties.

The constant, non-stop flow of new rules means compliance is a moving target. You have to allocate significant resources just to monitor and interpret these divergent rules, especially in areas like cross-border M&A (Mergers and Acquisitions) and capital raising. Honestly, the biggest risk here isn't a single fine, but the cumulative drag on resources and the potential for a compliance misstep to derail a high-value client transaction.

Ongoing Risk of Litigation and Regulatory Inquiries Inherent in the Investment Banking Business, Though Q3 2025 Saw an Absence of Legal Reserves

Litigation and regulatory scrutiny are simply part of the investment banking landscape, particularly in high-stakes areas like Restructuring and Special Situations. The inherent nature of providing advice on complex, distressed, or contentious transactions means PJT Partners is perpetually exposed to claims from clients, counterparties, or regulators.

However, the firm's recent financial performance shows a positive trend in managing this risk. In the third quarter of 2025, PJT Partners reported that its Non-Compensation Expense decreased principally due to the absence of legal reserves. This is a clear indicator of a relatively benign legal environment for the quarter, suggesting no immediate, major litigation or regulatory settlement was anticipated. The total GAAP Non-Compensation Expense for Q3 2025 was $53 million, a bucket that includes all non-personnel costs like occupancy, technology, and legal/compliance, making the lack of a specific legal reserve a notable point of financial strength.

Compliance with Global Financial Regulations, Including the US Securities and Exchange Commission (SEC) and Various International Bodies, is Mandatory

PJT Partners LP, the firm's registered broker-dealer, is under the direct jurisdiction of the US Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority, Inc. (FINRA). Internationally, the firm is also authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. The SEC's examination priorities for fiscal year 2026 (released in November 2025) provide a clear roadmap of where compliance resources must be focused, and you defintely need to be prepared for these areas.

Here is a quick map of the key US regulatory focus areas for the near term:

Regulatory Focus Area (SEC FY 2026 Priorities)	Impact on PJT Partners' Business	Key Compliance Action
Regulation Best Interest (Reg BI)	Scrutiny of recommendations for complex or illiquid products, especially in the context of the Strategic Advisory and Restructuring businesses.	Ensure all conflict identification and mitigation practices are documented and transparent.
Information Security & Regulation S-P	Mandatory compliance with the 2024 amendments to Regulation S-P (customer information safeguards) and focus on operational resiliency against cyberattacks.	Update and test policies for safeguarding customer records and information, including vendor oversight.
Alternative Investments (e.g., Private Credit)	Review of advice and disclosures related to private funds and private credit, a core area for the PJT Park Hill business.	Heightened attention to valuation of illiquid instruments and disclosures to private fund investors.
Use of Artificial Intelligence (AI)	Assessment of any automated investment tools or algorithms used in client-facing or internal decision-making processes.	Verify that all representations about AI use are fair and accurate, and that controls are in place to ensure advice aligns with regulatory obligations.

Increased Focus on Data Privacy Laws (like CCPA for California applicants) Impacts Talent Acquisition and Data Handling

The regulatory spotlight has sharply intensified on how firms handle employee and applicant data, not just client data. The California Consumer Privacy Act (CCPA), as amended by the California Privacy Rights Act (CPRA), now explicitly covers the personal information of job applicants and employees. This is a big deal for a firm actively focused on talent acquisition, as PJT Partners' total headcount reached 1,226 employees as of Q3 2025.

Specifically, the CPPA finalized regulations in July 2025 that address the use of Automated Decision-Making Technology (ADMT) in significant decisions, which includes employment eligibility screening. If PJT Partners uses any AI-driven tools to screen California-based job applicants, they must now provide a pre-use notice, allow access to explanations of the ADMT's logic, and generally offer an opt-out right-though exceptions exist if a human reviewer is involved and an appeal is provided. This means HR and Legal must work closely to ensure the firm's recruitment technology stack is compliant with these new, complex disclosure and opt-out rights. It's a major operational lift.

PJT Partners Inc. (PJT) - PESTLE Analysis: Environmental factors

PJT Partners Inc. is a capital-light, advisory-focused firm, so its direct environmental footprint is defintely small.

As a premier, global, advisory-focused investment bank, PJT Partners Inc. operates a capital-light business model, meaning its primary assets are intellectual capital and people, not heavy industrial infrastructure. This inherently keeps its direct environmental footprint minimal compared to capital-intensive sectors like manufacturing or energy.

The firm's operational footprint is chiefly tied to its global office space and business travel. For the nine months ended September 30, 2025, the company reported an increase in both Occupancy and Related expenses and Travel and Related expenses, reflecting a return to in-person business development and expansion of its global office footprint. Still, the most significant component of its environmental impact remains air travel, which is a common characteristic for advisory firms.

The firm discloses its Greenhouse Gas (GHG) emissions data in its Corporate Sustainability Report.

PJT Partners Inc. provides transparent disclosure of its Greenhouse Gas (GHG) emissions, calculated in accordance with the WRI/WBCSD GHG Protocol. This data, which is externally verified, confirms the small scale of their direct operational impact, with the majority of emissions stemming from indirect sources.

For the 2023 fiscal year, the latest fully reported data in their 2024 Corporate Responsibility Report, the company's total GHG emissions were 4,013 metric tons of carbon dioxide equivalent (MT CO2e). The breakdown clearly illustrates where the firm's environmental impact lies, which is mostly outside of its direct control.

GHG Emissions Scope (2023 Data)	Amount (Metric Tons CO2e)	Description
Scope 1	275	Direct emissions (e.g., fuel combustion in leased assets).
Scope 2	1,654	Indirect emissions from purchased electricity and district heating for offices.
Scope 3 (Business Air Travel)	2,085	Other indirect emissions, primarily from global business air travel.
Total Emissions	4,013	Sum of Scope 1, 2, and 3 (Business Air Travel).

It's clear that business air travel (Scope 3) accounts for over half of the reported total, which is typical for a global, high-touch advisory business. This is where the company faces its biggest challenge in reducing its environmental footprint.

A key opportunity is advising clients on their own ESG-related objectives, including the transition away from carbon.

The real environmental opportunity for PJT Partners Inc. is not in reducing its own 4,013 MT CO2e, but in helping clients manage their far larger footprints. This is a core growth driver for their Strategic Advisory business, which saw significant revenue growth in 2025.

The firm has established a cross-disciplinary ESG Transition Advisory Team to address this market need, which is only growing as regulatory and investor pressure mounts. They're effectively monetizing the global energy transition (or carbon transition) trend.

Concrete examples of their advisory work in this space include:

• Helping Repsol sell a stake in its upstream assets, strategically enabling the company to invest the proceeds into decarbonization efforts.
• Serving as an independent financial advisor to Flex on the Initial Public Offering (IPO) of Nextracker, a solar technology company.
• Assisting alternative asset managers within the PJT Park Hill business to successfully raise capital for funds specifically focused on investing in sustainable futures.

This advisory role positions PJT Partners Inc. to capture significant fee revenue from the multi-trillion-dollar global shift toward a low-carbon economy.

ESG is a core lens for evaluating strategic decisions, embedded in the firm's long-term value creation strategy.

ESG factors are not a side project; they are integrated into the firm's governance structure, which is a strong signal to investors and clients. The Board of Directors has charged the Nominating/Corporate Governance Committee with the formal oversight of the company's ESG strategy.

This means ESG is considered during the evaluation of directors, in the review of major risks, and in the context of long-term strategic growth. This top-down commitment ensures that the firm's own sustainability efforts are aligned with its commercial strategy of advising clients on their ESG and transition-related challenges.

The firm's focus is on creating 'sustainable long-term value' for shareholders, and integrating ESG into the strategic lens is how they defintely plan to do it. The market for ESG-related advisory services is a clear path to generating sustained revenue growth, which is the ultimate strategic goal.