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

KPMG has recently published its first global environmental, social and governance (ESG) plan. KPMG 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 organisation 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 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 organisation.”

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 Planbrings 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 organisations, 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); over the coming months and years these commitments will be strengthened, and progress will be reported openly.”

Antonis Bargilly, Board Member, Head of Internal Audit, Risk & Compliance Services at KPMG in Cyprus said: “We are proud to be part of such an ambitious plan to deliver impact at a global scale. Our country is relatively small, but our impact is just as important. Each one of us needs to be aware of the risks that lie ahead if we do not take care of our planet and as KPMG, we commit to tackle environmental, social and governance risks. Locally, we want to be part of this initiative and become front runners to inspire confidence and empower change.”

Highlights of the KPMG Impact Plan include:

• Planet: We have pledged to become a net-zero carbon organisation by 2030 through reducing greenhouse gas emissions by 50%, achieving 100% 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 organisations 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 harmonise 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.