KPMG announces it will be net-zero carbon by 2030
KPMG announces it will be net-zero carbon by 2030
Focusing on delivering growth in a sustainable way and providing climate solutions for member firms, clients and society.
KPMG has announced its intention to become a net-zero carbon organization by 2030, as part of its continued focus on delivering growth in a sustainable way and providing climate solutions for member firms, clients and society.
To underpin this goal, the global organization 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:
- 100 percent Renewable Electricity (RE) by 2022 in its Board Countries, and by 2030 for the wider network
- Offsetting any remaining GHG emissions through externally accredited voluntary carbon offsets to mitigate the remainder it cannot remove from its operations and supply chain
KPMG has taken a rigorous approach, using in-house experts to project KPMG's path to decarbonization 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 greenhouse gas emissions.
To remain confident that KPMG firms' climate actions are creating impact, the global organization will also track progress against the new commitments by measuring and reporting to CDP (formerly the Carbon Disclosure Project) and the Science Based Targets Initiative.
The organization will be working closely with its people to educate colleagues on the new commitments and mobilize 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 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.”
Today's announcement builds on previous progress from KPMG in reducing its collective impact on the planet. Prior to the COVID-19 pandemic, the global organization 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%.
KPMG firms are working with clients across the world to support them in decarbonizing 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).
Commenting on today's announcement, 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.”
KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. We operate in 147 countries and territories and have more than 219,000 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.
© 2021 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved.
KPMG 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. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. For more detail about our structure please visit https://home.kpmg/governance.
Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. 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.