KPMG has announced its intention to become a net-zero carbon organisation by 2030.
KPMG has announced its intention to become a net-zero carbon organisation by 2030, as part of its continued focus on delivering growth in a sustainable way and providing climate solutions for member firms, clients and communities.
To underpin this goal, the global organisation has signed up to a series of new climate actions, including a 1.5°C science-based target which will focus on achieving a 50 percent reduction of KPMG’s direct and indirect greenhouse gas (GHG) emissions by 2030.
Additionally, KPMG firms have collectively committed to:
KPMG has taken a rigorous approach, using in-house experts to project KPMG’s path to decarbonisation and, from this, has developed a carbon forecasting model for KPMG firms that enables bottom-up target setting. This model maps the impact and sources of emissions and how a change in policy, for example on business travel, can have a significant impact on GHG emissions.
To remain confident that KPMG firms’ climate actions are creating impact, the global organisation will also track progress against the new commitments by measuring and reporting to CDP (formally the Carbon Disclosure Project) and the Science Based Targets Initiative.
The organisation will be working closely with its people to educate colleagues on the new commitments and mobilise teams to support the journey towards a more sustainable future.
Global Chairman & CEO of KPMG International, Bill Thomas 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 have announced 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.”
This announcement builds on previous progress from KPMG in reducing its collective impact on the planet. Prior to the COVID-19 pandemic, the global organisation had reduced its net carbon emissions per FTE by around one-third over the last decade, performing better than its targets. It is also currently on track to meet its 2020 renewable energy target of 60%.
“Bermuda represents the perfect ecosystem to become carbon neutral and to test and grow renewable energy sources. KPMG in Bermuda supports the Regulatory Authority’s Integrated Resource Plan, a journey towards a sustainable and secure future where the majority of our energy will be procured from renewable sources.” said Mike Morrison, CEO, KPMG in Bermuda, “Investing in renewable energy can be a catalyst for the economy, while helping to protect the future for our community. Our firm is committed to help bring this plan to life.
At KPMG in Bermuda we focus on the goal of lower consumption and higher awareness. We actively work to reduce our firm’s overall electricity usage and have seen major progress over the last six years, cutting our usage by over one-third. During our recent renovations we kept the environment top of mind, replacing all lightbulbs with LEDs, placing sensor lights throughout the building, donating used furniture to local organisations, and choosing workstations and carpets made of recycled materials. Operating during COVID-19 shifted the reality of the way we conduct business, forcing us to reconsider our amount of international travel. How we do business going forward will change, with increased consideration of virtual alternatives and our overall carbon footprint, positively impacting GHG emissions. We are excited about KPMG’s global ambition and the opportunities for Bermuda to be a leader in sustainability. “
KPMG firms are working with clients across the world to support them in decarbonising their businesses and supply chains, and embedding ESG in everything they do. Launched earlier this year, KPMG IMPACT brings together KPMG firms’ expertise in supporting clients to address the biggest challenges facing our planet, with the aim of delivering growth with purpose and achieving progress against the United Nations Sustainable Development Goals (SDGs).
© 2021 KPMG, a group of Bermuda limited liability companies and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.