KPMG unveils Our Impact Plan; shares progress against newly created Stakeholder Capitalism Metrics

Thursday 11 February 2021 10:29
KPMG brings together global organization's environmental, social and governance (ESG) commitments under one umbrella, Our Impact PlanIncorporates roadmap to become net-zero by 2030, commitment to increase inclusion and diversity and to drive sustainable growth for clients and stakeholdersIncludes progress against newly created Stakeholder Capitalism Metrics and specific commitments across four categories: Planet, People, Prosperity and GovernanceKPMG 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.
KPMG unveils Our Impact shares progress against newly created Stakeholder Capitalism Metrics

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."

"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."

Highlights include:

  • 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.

Charoen Phosamritlert, Chief Executive Officer, KPMG in Thailand, Myanmar and Laos said, "Our people at KPMG are well aware of the importance of 'purpose' and the impact our firm can have on society. Our ongoing 'KPMG Care & Share' program includes a wide range of activities that cover all aspects of ESG. Our environmental initiatives focus on carbon footprint reduction - by going paperless, reducing single-use plastics and recycling them into useful equipment for hospitals. In social aspects, we provide educational opportunities for underprivileged students through scholarships and computer donations. Furthermore, through KPMG in Thailand's partnership with Chulalongkorn University, we offer a yearly knowledge sharing and mentorship program called 'Up Academy'. This year's theme - 'Youth ESG' - is aimed at nurturing an ESG mindset and giving undergraduate students opportunities to engage in real-world issues under the guidance of KPMG professionals. In the wider community, we donated to those who suffered from natural disasters throughout the years. In 2020 and 2021, we consistently raised money to support various hospitals that helped contain the spread of COVID-19. For governance, we continuously develop our people by equipping them with future skills and constant learning programs to increase their potential. All these concerted efforts will enable us to sustain our position as a leading organization that can deliver tangible value to society."

Source: KPMG Thailand