The KPMG US IMPACT team helps companies seize the ESG opportunity to make their business better, build trust among their stakeholders and create long-term value. While the way companies navigate ESG varies by industry and stakeholders, one of the most important pieces of advice we give all our clients is to take the first steps of their ESG journeys now.
Here at KPMG, we are making strides in our own operations to meet the ESG moment – ensuring our business does its part to improve our society and promote sustainable business practices. As trusted advisors providing holistic ESG solutions to clients, prioritizing ESG within our own business is an imperative.
Like so many companies in today’s market, we are on a journey, but externally releasing our first U.S. Impact Plan marks an important step in our efforts – one that promotes transparency, enhances our work with clients, and holds us accountable to our commitments to further drive progress. Our reporting centers around four priority areas informed by the World Economic Forum Stakeholder Capitalism metrics — People, Planet, Prosperity, and Principles of Governance. The data and commitments contained in this report are a launchpad for continued ESG engagement and expansion in the years ahead as we continue to position ourselves at the forefront of the dynamic ESG landscape.
One example of how dynamic the landscape has become is the quickly evolving regulatory and reporting environment. The SEC’s recent proposal for climate disclosure rules has garnered significant client attention and questions and is a landmark moment for ESG reporting in the United States. Additionally, the formation and subsequent recent proposals of the International Sustainability Standards Board (ISSB) highlight continued progress in the development of global baselines for ESG reporting standards.
Critically, we believe it’s important that businesses approach these developments with a mindset that goes beyond compliance. How does your ESG strategy engage key stakeholders? How can one pair data and technology approaches to not only understand one’s greenhouse gas impact, for example, but reduce carbon footprints? All this work leads up to reporting compliance, but – if done well – can also build trust with stakeholders, unlocking new value.
Fully implementing our ESG strategy will require the entire firm’s continued engagement. We constantly advise clients to embed ESG into all of their operations, and as you will see in the report, we are working to heed our own advice. Using our 2022 U.S. Impact Plan as a strong first step, we look forward to continuing to share updates on our progress, learnings, and insights along this journey.
To view the full KPMG U.S. 2022 Impact Plan, please visit: https://www.kpmg.us/about/kpmg-esg-report.html.