KPMG U.S. Launches Inaugural Impact Plan Affirming Commitment to Transparency and Accountability
KPMG U.S. Launches inaugural Impact Plan.
New commitments include $125 million to support organizations, programs and initiatives that advance equity and access among underrepresented groups, pledge to achieve net-zero emissions by 2030, and a commitment to invest 30% of reportable spend with diverse suppliers by 2025.
KPMG LLP1 published its inaugural U.S. 2022 Impact Plan today outlining environmental, social, and governance (ESG) strategies and commitments across four pillars: People, Planet, Prosperity, and Principles of Governance. Capturing progress throughout the fiscal year ending on September 30, 2021, the report represents an important milestone for KPMG as it advances its ESG strategy, embeds good governance and ethics, considers its impact on the planet, and fosters a prosperous, equitable, and sustainable society.
The information within the report represents a consolidation of past reporting efforts and was prepared in accordance with the World Economic Forum International Business Council Stakeholder Capitalism Metrics.
KPMG U.S. Chair and CEO Paul Knopp said, “This is an important milestone as we consider how our firm supports and advances people both within the firm and beyond, impacts our planet, fosters a prosperous society, and embeds good governance. And while this report is the first of its kind for us, our work in this space is not new. For 125 years, we have been committed to supporting our clients and our communities, and now, we are leading on critical ESG issues. From fostering a diversified, inclusive workforce and neutralizing our carbon emissions to expanding our community engagement and instilling an ethical business culture, we are committed to driving progress and — most importantly — impact.”
Key areas that evidence KPMG’s progress to date include a 40% increase in hiring from historically Black colleges and universities, establishing an internal price on carbon to operationalize sustainable behavior and fund green investments, contributing over $47 million to community investments, and a U.S. Board of Directors with 50% of members from underrepresented groups.
To lay the foundation upon which KPMG will accomplish its ESG ambitions today, tomorrow, and in the future, KPMG has committed to the following:
- People: Enhancing diversity, equity, and inclusion (DEI) at all levels of the firm through Accelerate 2025, KPMG’s long-term strategy and commitment to DEI, to tackle one essential dimension of its overall DEI agenda — ensuring that more individuals from underrepresented groups choose KPMG as their employer of choice, build careers at KPMG, and advance to leadership positions within the firm and profession.
- Planet: Achieving net-zero emissions by 2030 while also achieving a 50% reduction of direct and indirect greenhouse gas (GHG) emissions.
- Prosperity: Investing $125 million over five years from KPMG and the KPMG U.S. Foundation to support organizations, programs, and initiatives that advance equity and access among underrepresented groups that have historically faced systemic barriers.
- Principles of Governance: Setting the bar for ethics and integrity in professional services by fostering a culture where all people behave ethically and feel empowered to speak up without hesitation to address difficult situations, hold each other accountable, and ensure the firm constantly improves.
KPMG U.S. Deputy Chair and Chief Operating Officer Laura Newinski added, “At KPMG, we believe we must do our part to make our society more equitable and sustainable, and also help our people, clients, and communities do the same. We continue to make meaningful investments in ESG initiatives for both our firm and clients to ensure we maintain our positive momentum.”
1 This report covers activities of KPMG LLP the U.S. firm of the KPMG global organization of independent professional services firms (referred to as “KPMG” throughout the report) for the fiscal year from October 1, 2020, to September 30, 2021, abbreviated as “FY21” in the report. The information included in this report aligns with KPMG International’s Our Impact Plan released in March 2022 and includes some complementary information and commitments with clear distinctions in specific areas.
About KPMG LLP
KPMG LLP is the U.S. firm of the KPMG global organization of independent professional services firms providing audit, tax, and advisory services. The KPMG global organization operates in 145 countries and territories and has close to 236,000 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.
KPMG is widely recognized for being a great place to work and build a career. Our people share a sense of purpose in the work we do, and a strong commitment to community service, inclusion and diversity, and eradicating childhood illiteracy. Learn more at www.kpmg.com/us.