Professional services firm KPMG announced a series of new sustainability commitments, with goals including becoming a net zero carbon organization, and moving to 100% renewable energy by 2030.
Bill Thomas, Global Chairman & CEO of KPMG International, said:
“We have made real, and valuable, progress in our efforts to help KPMG member firms and clients grow sustainably, but the size of the challenge we all face globally on climate means we must go further.
“I am pleased that the new commitments we are announcing today will help to accelerate our ambitions to deliver on a more sustainable future, inspiring confidence among our teams and stakeholders and empowering them to change how we shape our future.
“Our carbon reduction plan will aid not only our own progress towards reducing the effects of the climate on tomorrow’s world, but it will also contribute to our clients’ efforts to reduce their end to end carbon footprint. With this new set of global commitments across KPMG, I am confident that we are making the right decisions today to make a difference tomorrow.”
KPMG’s new commitments include setting a 1.5°C aligned science-based target, focused on achieving a 50% reduction of the firm’s direct and indirect GHG emissions by 2030, and goals to reach 100% Renewable Electricity (RE) by 2022 in its Board Countries, and by 2030 for the wider network. KPMG stated that it will mitigate any remaining GHG emissions that it cannot remove from its operations and supply chain through externally accredited voluntary carbon offsets.
In addition, KPMG announced that it will work with sustainability organizations, tracking progress against its new commitments by measuring and reporting to CDP (formerly the Carbon Disclosure Project) and the Science Based Targets Initiative (SBTi).
KPMG’s new commitments add to the firm’s climate initiatives both within its operations and externally. The global organization has already reduced its net carbon emissions per FTE by around one-third over the last decade, and is on track to meet its 2020 renewable energy target of 60%. Earlier this year, the firm launched KPMG IMPACT, aimed at helping clients fulfil their purpose and deliver against the Sustainable Development Goals (SDGs). In October, KPMG launched Climate Accounting Infrastructure, a new blockchain-based capability, aimed at helping the firm’s clients to more accurately measure, mitigate, report and offset their greenhouse gas emissions.
Richard Threlfall, Global Head of KPMG IMPACT said:
“I am delighted to see KPMG enhancing our collective commitment to the global climate agenda by adopting science-based targets with the carbon reduction plan that has been announced today. KPMG shares the same responsibility as the clients we serve, to rapidly reduce and eventually reverse our contribution to global warming. By further extending our own commitments in this space I believe we are better placed to work and collaborate with clients to help them decarbonize their businesses too.”