KPMG unveils Our Impact Plan,shares progress against newly created Stakeholder Capitalism Metrics
KPMG unveils Our Impact Plan,shares progress against...
- KPMG brings together global organization’s environmental, social and governance (ESG) commitments under one umbrella, Our Impact Plan
- Incorporates roadmap to become net-zero by 2030, commitment to increase inclusion and diversity and to drive sustainable growth for clients and stakeholders
- Includes progress against newly created Stakeholder Capitalism Metrics and specific commitments across four categories: Planet, People, Prosperity and Governance
27 January 2021
KPMG today published its first global environmental, social and governance (ESG) plan. Our Impact Plan brings together new and existing ESG commitments under one umbrella, focusing on four important categories: Planet, People, Prosperity and Governance.
The plan also catalogues current data across the global organization and reports against metrics outlined in a report created by the World Economic Forum (WEF) and drafted in consultation with its International Business Council (IBC), titled Measuring Stakeholder Capitalism, which KPMG had a key role in shaping.
KPMG will continue to strengthen its commitments outlined in the plan and improve reporting on its progress in the months and years to come.
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.”
Honson To, Chairman of KPMG Asia Pacific and KPMG China, says: “The COVID-19 pandemic, employment issues and climate change are key discussion areas on this winter’s Davos agenda, as the world braces for continued challenges on many fronts. In Asia-Pacific, China plays an important role in driving regional collaboration and promoting stability in the region. At KPMG, we are committed to helping find solutions that address key global issues, including creating more inclusive workplaces; making business models more sustainable; using the power of capital markets to stimulate innovation; empowering disadvantaged groups in society; and protecting the natural environment. Through our international network and team of more than 12,000 professionals, we help connect global resources and create synergy across financial services enhancement, talent development and free trade zone construction that will bring long-term societal developments.”
“Our Impact Plan reaffirms KPMG’s long-standing commitment to the UN Global Compact principles, while delivering against the UN Sustainable Development Goals (SDGs)”, Lawrie continued, “and over the coming months and years these commitments will be strengthened, and progress will be reported openly.”
Raymond Ng, Vice Chairman of KPMG China, says: “Climate change concerns everyone, and solid actions for reducing negative impact on the environment is urgently required in order to build a more sustainable and resilient future world. At KPMG, we have set ambitious goals for emissions reduction and renewable energy usage and have consistently achieved and exceeded them. Our latest global commitment is to become a net-zero carbon organisation by 2030. Our recently launched KPMG IMPACT program brings together KPMG firms’ global expertise into our strategies around ESG/sustainability, economic/social development, climate change and carbon emissions reduction, and supports clients through business and supply chain transformation to reduce emissions, shift to renewable energy and integrate climate risks into their business strategies. We have also provided extensive advisory services to clients on green finance, and are working with the World Economic Forum to promote systemic changes to accelerate energy conversion.”
— Planet: We have pledged to become 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: In 2020, we created a Collective Action Plan, drafted with input and participation from thousands of our colleagues, which will set ambitious goals for workplace diversity and equality.
— Prosperity: KPMG’s partnerships with UNESCO and other organizations helped us to support people severely impacted by the learning crisis, and through our recently launched KPMG IMPACT network, KPMG firms are supporting clients on their journeys towards sustainability and shaping the future ESG agenda.
— Governance: In 2020, we updated our global Code of Conduct and refreshed our Values. We are also using our position and expertise to help harmonize ESG metrics, which includes our work with the WEF IBC to create the Stakeholder Capitalism Metrics, in addition to having accepted positions at the IIRC, TCFD, Corporate Reporting Dialogue and SASB, among others.
About KPMG China
KPMG member firms and their affiliates operating in mainland China, Hong Kong SAR and Macau SAR are collectively referred to as “KPMG China.” KPMG China is based in 27 offices across 25 cities with around 12,000 partners and staff in Beijing, Changsha, Chengdu, Chongqing, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Tianjin, Wuhan, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. Working collaboratively across all these offices, KPMG China can deploy experienced professionals efficiently, wherever our clients are located.
KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. We operate in 146 countries and territories and in FY20 had close to 227,000 people working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
In 1992, KPMG became the first international accounting network to be granted a joint venture licence in mainland China. KPMG was also the first among the Big Four in mainland China to convert from a joint venture to a special general partnership, as of 1 August 2012. Additionally, the Hong Kong firm can trace its origins to 1945. This early commitment to this market, together with an unwavering focus on quality, has been the foundation for accumulated industry experience, and is reflected in KPMG’s appointment for multidisciplinary services (including audit, tax and advisory) by some of China’s most prestigious companies.
Our Impact Plan represents the collective environmental, social and governance commitments of independent KPMG firms, affiliated with KPMG International Limited. The data represented in Our Impact Plan is aggregated data from KPMG firms for the 12 months to 30th September 2020 unless stated otherwise. Throughout this press release, “we”, “KPMG”, “us” and “our” refers to the global organization or to one or more of the member firms of KPMG International Limited (“KPMG International”), each of which is a separate legal entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
© 2022 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in Mainland China, KPMG, a Macau (SAR) partnership, and KPMG, a Hong Kong (SAR) partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
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