Planet

Extreme weather events and frequent natural disasters in recent years have underlined the existential threat that climate change poses to the world. Addressing it calls for immediate and decisive action.

India, vulnerable to climate change and on a path of rapid socio-economic development, faces a unique challenge of decoupling growth from emissions.

As a signatory to the United Nations Framework Convention on Climate Change (UNFCCC), India has pledged to achieve net-zero carbon emissions by 2070 and reduce the emissions intensity of its GDP by 45% by 2030, compared to the 2005 level.

Towards this end, it is imperative that India reduces its carbon footprint, which is likely to keep rising, given its expanding infrastructure, energy systems and industries.

Countries and organisations worldwide are re-focusing efforts on controlling their GHG emissions, an urgent call to attention where every action matters.

As a responsible organisation, KPMG International, as a network of member firms, has been monitoring its global carbon emissions through the Global Climate Response initiative since 2008.

Subsequently, KPMG International has committed to a science-based target (SBT) aligned with a 1.5°C trajectory. The KPMG International carbon-reduction target was validated by the Science-Based Target initiative SBTi in 2021, committing the global network to become net-zero by 2030.

To support our global targets, KPMG in India is committed to achieving net-zero carbon emissions by 2030. This will see us:

• Reduce GHG emissions by 50% by 2030 in line with a 1.5ºC science-based target (against a 2019 baseline).
• Ensure our energy consumption is 100% renewable.
• Offset unavoidable removable emissions through investments in externally accredited carbon removal projects, keeping the benefits of our communities and society in mind.

As part of our decarbonisation journey, we are reducing business travel, finding new ways of working and aim to create more sustainable supply chains, thus addressing significant emitters contributing to our carbon footprint.

Energy-intensive industries such as petrochemicals, fertilizers, steel and cement, where the use of fossil energy and feedstock is deeply embedded in the production process, account for ~30%1 of the global CO2 emissions².

Our client, a large conglomerate and a leading producer of fertilizers, polyolefins, fibres and medical gloves (‘client’ or ‘group’) with over 30 manufacturing sites across eight countries, serves as a crucial supplier for many businesses across the globe. With most of its production falling under hard-to-abate sectors, it is imperative for the group to decarbonise its value chain and leverage low-carbon technologies for its operations. In this endeavour, the client would align themselves to national and global climate goals and create a competitive advantage for the group in the longer term.

As part of the client’s decarbonisation journey, KPMG in India is helping them in the identification and evaluation of GHGabatement levers to develop a GHGabatement and carbon-offset roadmap based on the identified decarbonisation strategies for select facilities.

The exercise is being conducted by carrying out an end-to-end assessment of direct and indirect emissions as per the GHG accounting and reporting principles defined in the GHG protocol corporate standard covering relevance, completeness, consistency, accuracy and transparency³.

Our teams are also helping the client set unit-level near-term and long-term targets based on the SBTi framework with a focused assessment of nationally determined contributions, climate and energy policies, maturity of renewable energy market in the country and sectoral emission reduction scenarios.

To make the client’s value chain emissions reporting robust, we are currently helping them develop a guidance document for Scope 3 emissions calculations and disclosures, in consultation with the client’s leadership, sustainability team and their major suppliers.

With the aim of enabling a wider adoption of low carbon sustainable growth strategies across the hard-to-abate sectors, our teams are creating impact and empowering our clients to create meaningful change.