KPMG publishes ESG-focused ‘U.S. Impact Plan’

Big Four firm KPMG published its inaugural U.S. Impact Plan on Friday, outlining its environmental, social, and governance strategies across four main areas: people, planet, prosperity and principles of governance.

KPMG International previously released its Impact Plan in 2021. The U.S. plan includes goals to invest $125 million over five years in support of organizations and initiatives aiding minority groups, a pledge to achieve net-zero emissions by 2030, and a commitment to invest 30% of reportable spend on diverse suppliers by 2025.

“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,” said KPMG U.S. Chair and CEO Paul Knopp, in a statement. “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.”

Highlights from the report, which included firm data up to Sep. 30, 2021, include:

• A 40% increase in hiring from historically Black colleges and universities (HBCUs);
• Establishing an internal price on carbon to promote sustainable behavior and fund green-friendly investments;
• Contributing more than $47 million to community investments; and,
• A U.S. board of directors with 50% of members from underrepresented groups.

“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,” said Laura Newinski, KPMG U.S. deputy chair and chief operating officer, in a statement. “We continue to make meaningful investments in ESG initiatives for both our firm and clients to ensure we maintain our positive momentum.”

The full U.S. Impact Plan is available on KPMG’s site here.