KPMG Launches Multi-Year Program to Accelerate Global Solutions to Environmental, Social and Governance Problems

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LONDON – As part of its ongoing multi-billion dollar investment program, KPMG plans to spend over US $ 1.5 billion over the next three years to focus specifically on the environmental, social and governance (ESG) change agenda. The ESG strategy is designed to help clients of KPMG firms make a positive difference. Importantly, this strategy is underpinned by KPMG’s recognition of its responsibility to improve its impact on the world and the ESG commitments outlined in KPMG: Our Impact Plan.

Collective investment will focus on training and expanding KPMG’s global workforce, leveraging data, accelerating the development of new technologies and taking action through partnerships, alliances and advocacy. The key to the transformation will be to integrate ESG into the organization and customer solutions to drive measurable change.

The new global ESG strategy focuses on five priority areas:

1.

Solutions

Five new dedicated Hubs should be established to provide world-class expertise and solutions on key ESG issues, these will focus on:

  • Global decarbonization, help large multinational companies meet their net zero commitments and plan their decarbonization journey, and
  • Global ESG Council, supported by the consulting teams of KPMG firms, providing industry-leading ESG expertise, including leadership on societal issues and solutions.
  • Three KPMG regional ESG centers will also be established in Europe, Asia-Pacific and the Americas to provide clients with easy access to world-class knowledge and expertise across the ESG agenda.

KPMG will invest in its leading climate and ESG solutions and technologies, including Climate IQ, a digital tool that helps clients identify opportunities and risks associated with climate change. To complement the technology investments, the global organization will also increase its staff, both for ESG advisory work and to provide assurance on ESG disclosures. In addition, KPMG will develop its proprietary audit workflow technology to enable the delivery of ESG assurance with the same quality and rigor that KPMG firms apply to financial audit work.

2.

Talent

ESG training will be provided to all 227,000 employees of the KPMG organization to ensure that everyone has the means to be an agent of positive change. As part of this training, KPMG works with two leading global academic institutions, the Judge Business School at the University of Cambridge and the NYU Stern Executive Education:

  • The partnership with the Judge Business School at the University of Cambridge will strengthen ESG skills, including the development of a learning framework and solutions to be applied across KPMG’s global organization, led by faculty from the business school and other experts associated with the school, starting with hundreds of business leaders. and with the ambition to reach all KPMG employees around the world.
  • The NYU Stern Executive Education collaboration will see the co-creation of a sustainability program for KPMG in the form of executive training.
3. Support developing countries

KPMG will launch KPMG accelerators for emerging markets for developing countries in the Eastern Mediterranean, Africa, Asia-Pacific and Latin America. The purpose of these Emerging market accelerators is to ensure that regions of the world that lack expertise and resources will have a trusted advisor to support their economic and social development in line with the United Nations Sustainable Development Goals.

4.

Collaborations and alliances

KPMG recognizes that global problems will not be solved by a single organization, which is why the global organization relies on its collaboration with external organizations, including UNESCO, Enactus and the Global Reporting Initiative.

Through alliances with Google Cloud, Microsoft, Salesforce and ServiceNow, KPMG is co-creating new tools and solutions that will provide essential data-driven insights that customers can use to map their ESG journeys and implement critical changes to respect their commitments.

5.

Listen and act

To help support the engagement pillar of its global ESG strategy, KPMG is also launching a new campaign called ‘Voices for a Sustainable Future’, providing a platform to amplify the perspectives of established and new thinkers, by giving the speaking out to critical issues – from climate change to gender and race equality. The program will generate actionable information to help accelerate the journey to a more sustainable future.

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Bill Thomas, global president and CEO of KPMG, said: “The way you grow matters, and what worked for us and other businesses in the past won’t work in the future. The world faces crises on many fronts, which is why we put the environmental, social and governance agenda at the heart of everything we do. ESG will be the watermark of our global organization; from empowering our employees to be agents of positive change, to serving our customers and partnering with critical stakeholders. KPMG has the global reach, expertise, technology and relationships that give us the ability and responsibility to use our position to provide solutions and services to overcome the challenges facing our planet and our society.

Richard Threlfall, Global Head of ESG and KPMG IMPACT said: “It is incumbent on all of us, as businesses and as individuals, to play our part in meeting the challenges that threaten the future of our planet and the quality of life of people around the world. Our global ESG strategy will help equip our people to make a difference, as well as mobilize the data and technology to support it. But we also recognize that the changes demanded by society will be achieved more effectively through open collaboration based on trust, and we will continue to seek partnership opportunities with other organizations that share our goal of enabling a better future for our people. everyone, everywhere. . ”

KPMG’s global ESG strategy comes less than a year after the organization’s launch KPMG: our impact plan, which presents the commitments of the world organization on ESG themes, with the ultimate objective of having an even greater positive impact on the world. KPMG was the first professional services organization to transparently report on the World Economic Forum’s Stakeholder Capitalism Indicators. The plan sets out a series of goals, including a commitment to become a zero carbon organization by 2030. The execution and acceleration of KPMG: our impact plan is a key priority for the global organization as it delivers on its commitments to tackle issues – from the climate crisis to social mobility and community engagement.

Jane Lawrie, Global Head of Corporate Affairs at KPMG, said: “We know that KPMG and our profession have an important and urgent opportunity to accelerate the change needed for a sustainable future; this change begins with us. Our impact plan, launched in January, explains how we intend to change our actions and commits to reporting on our progress so that we can be held accountable.

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“The ESG program is as important to our employees as it is to our customers; these significant changes outlined today further strengthen KPMG’s goal of inspiring confidence and empowering change and acting as a north star for how we grow the organization.

To learn more about how KPMG is bringing this investment to life for our clients and employees, visit our website home.kpmg

About KPMG International: KPMG is a global organization of independent professional services firms providing audit, tax and advisory services. We operate in 146 countries and territories and in FY20 we had nearly 227,000 people working in member companies around the world. Each KPMG firm is and describes itself as a legally distinct and separate entity.

KPMG International Limited is a private UK company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

About KPMG IMPACT: Launched in June 2020, KPMG IMPACT is the accelerator of KPMG’s global ESG strategy. It is the platform that supports and empowers KPMG professionals as they help clients achieve their goal, meet their ESG goals, and support the achievement of the United Nations Sustainable Development Goals around the world. He assists his clients in the areas of ESG and sustainable development, economic and social development, sustainable finance, climate change and decarbonization, as well as measurement, insurance and reporting.

About KPMG: Our impact plan: KPMG: Our impact plan is the organization’s first-ever global environmental, social and governance (ESG) plan, bringing together new and existing ESG commitments under one roof, focusing on four important categories: planet, people, prosperity and governance.

The plan also lists current data across the global organization and reports against metrics outlined in a report created by the World Economic Forum (WEF) and written in consultation with its International Business Council (IBC), titled Measuring stakeholder capitalism (PDF 1.92 MB), which KPMG played a key role in shaping.

KPMG will continue to strengthen its commitments outlined in the plan and improve reporting on our progress in the months and years to come.

Click here to read KPMG: our impact plan in full.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211007005410/en/

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Contacts

Mark Walters, Global Head of Communications
[email protected] / + 1-212-872-7679

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