Global professional services firm KPMG announced today the launch of “Our Impact Plan,” consolidating the company’s ESG commitments and initiatives under one umbrella.
The new plan classifies the firm’s sustainability programs and goals into four key categories, including Planet, People, Prosperity, and Governance. The categories align with those established with the release last year of a set of universal ESG metrics and disclosures designed to measure stakeholder capitalism by the World Economic Forum (WEF), developed with the participation of KPMG and other major professional services firms.
Planet covers KPMG’s initiatives to reduce its impact on the environment and build a sustainable and resilient future. Commitments include becoming a net-zero carbon organization by 2030 through reducing greenhouse gas emissions by 50 percent, achieving 100 percent renewable electricity, and offsetting our residual emissions.
People encompasses the company’s efforts to create a caring, inclusive and values-led culture for the organization, and includes KPMG’s Collective Action Plan, launched in 2020, to set goals for workplace diversity and equality.
Prosperity includes efforts to drive purposeful business practices and good corporate citizenship, such as the KPMG IMPACT network to support clients on their journeys towards sustainability, as well as KPMG’s partnerships with UNESCO and other organizations to support people severely impacted by the learning crisis.
Governance includes KPMG’s recently updated global Code of Conduct and its Values. The category also encompasses the firm’s participation in initiatives to harmonize ESG metrics, including working with the WEF’s International Business Council (IBC) to create the Stakeholder Capitalism Metrics, in addition to having accepted positions at the IIRC, TCFD, Corporate Reporting Dialogue and SASB, among others.
KPMG Global Chairman and CEO, Bill Thomas said:
“By harnessing our convening power, digital capabilities and expertise, KPMG has an opportunity and responsibility to help shape and lead on some of the critical issues the world faces—doing so is core to our purpose to Inspire Confidence and Empower Change. Now is the time to improve how we do what we do for the better, and we can jumpstart that momentum by measuring our actions, learning from each other, and holding each other accountable. Our Impact Plan is only a start, and we know we need to do more, but it is a step that will help KPMG become an even better organization.”
Global Head of Corporate Affairs, Jane Lawrie added:
“The challenges we face in our world were put into the spotlight in 2020, reminding us all that we need to act now to make a difference. KPMG has already made some important progress, but we know we have a long way to go. Our Impact Plan brings together our collective ESG commitments in one place, allowing us to measure our progress and hold ourselves accountable. We are also in a privileged position working with many global and local organizations, large and small, who are committed to addressing these world issues, and together we can make a real difference.
“Our Impact Plan reaffirms KPMG’s long-standing commitment to the UN Global Compact principles, while delivering against the UN Sustainable Development Goals (SDGs), and over the coming months and years these commitments will be strengthened, and progress will be reported openly.”