KPMG announces 2023 U.S. Impact Plan

Today KPMG U.S. published its 2023 U.S. Impact Plan^[1] reporting on progress toward the firm’s environmental, social and governance (ESG) commitments throughout the fiscal year ending September 30, 2022. Last year, the firm celebrated its 125th anniversary, and further strengthened commitments in the areas of people, planet and prosperity through transparency in our Culture, sustainable practices and the governance principles guiding our work.

“Whether we are diversifying our workforce, neutralizing our carbon emissions or working with our clients on their ESG journeys, we are helping to create a more equitable, sustainable society,” said KPMG U.S. Chair and CEO Paul Knopp. “As we tackle some of the most pressing challenges facing our people, planet and society today, we continue to lean on our multidisciplinary business model to meet the rigor of climate reporting disclosures, unlock new opportunities for our people and create value for our clients.”

Key areas that evidence KPMG’s progress toward its ESG commitments:

Nearly half of KPMG new hires and U.S. partners were hired or promoted from underrepresented racial and ethnic groups.
We contributed thousands of hours of community service and close to $1.9 million in donations across the markets where we operate.
We achieved 50% representation of underrepresented groups on the firm’s board of directors and management committee.

Last year, the firm announced historic benefit increases for employees, including increased parental leave and a nearly $160 million investment in salary adjustments. KPMG U.S. also became the first of the Big Four accounting firms to set an internal price on carbon.

The four pillars on which the firm centers its plan — People, Planet, Prosperity and Principles of Governance — will continue to guide the firm’s ESG strategy and commitments going forward.

People: Attaining Accelerate 2025, the firm’s five-year strategy rooted in the vision of a more diverse workforce and inclusive work environment through accountability and transparency
Planet: Achieving net-zero emissions by 2030 while also achieving a 50% reduction of direct and indirect greenhouse gas emissions
Prosperity: Investing $125 million over five years from KPMG U.S. 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

“Amid the changing landscape of climate change and digital transformation, it’s critical that we engender trust by transparently reporting the firm’s progress in our commitments,” said KPMG U.S. Deputy Chair and COO Laura Newinski. “From developing a real estate strategy that hinges on flexibility and sustainability to investing in economic empowerment, health equity and education across the communities where we live and work, our actions align with our purpose to inspire confidence and empower change.”

Learn more about the 2023 KPMG U.S. Impact Plan and commitments at our ESG Digital Hub.

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^{[1] Data in this report has been prepared with reference to World Economic Forum International Business Council Stakeholder Capitalism core metrics and includes details from our 2023 Audit Quality Report.}