We are pleased to publish KPMG China’s fourth annual ESG report, Our Impact Plan (OIP). This report highlights our key performance and progress for FY23 in four key pillars: Governance, People, Planet and Prosperity.

At KPMG China, we believe the OIP is not just a report, but an important part of our core strategy. We are committed to making ESG a watermark running through our organisation and to working with key stakeholders to build a more sustainable and resilient future.

Chairman’s message

Honson To

There is no doubt that over the past year, the world’s economy, environment and society have grappled with a number of challenges – including those related to climate change, extreme weather and geopolitical risks. It is therefore vitally important that established businesses and industry models respond to these difficulties to address the rising expectations of stakeholders and society when it comes to ESG.

Through OIP, we persistently integrate ESG principles into everything that we do, making ESG a watermark running through our organisation. Upholding our unwavering purpose to inspire confidence and empower change, we believe that by collaborating alongside our stakeholders, we can create value for society and contribute to the vision of building a beautiful China with a shared and sustainable future.

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Chairman’s message

There is no doubt that over the past year, the world’s economy, environment and society have grappled with a number of challenges – including those related to climate change, extreme weather and geopolitical risks. It is therefore vitally important that established businesses and industry models respond to these difficulties to address the rising expectations of stakeholders and society when it comes to ESG.

A steadfast journey rooted in purpose

Against this backdrop, our belief remains unwavering that corporate resilience and sustainability are pivotal keys to addressing the global challenges facing mankind. Enterprises should pivot from short-term profits to long-term performance, embracing a quality-driven mindset for development. Sustainability not only shapes the future of commercial success, talent development, climate change and other key ESG issues, but it also forms an essential aspect of the Chinese path to modernisation. This path calls for harmony between humanity and nature and promoting the high-quality development of the country’s economy and society.

With this in mind, we are committed to embedding ESG principles into our daily operations and services, particularly through our dedicated efforts in Our Impact Plan (OIP), our firm’s own ESG strategy. OIP plays an instrumental role in our firm’s Trust and Growth ambition, aiming to build trust in society and drive business growth with a long-term perspective.

To integrate ESG as a driving force for corporate development, our focus lies in robust corporate governance, aligning with our vision of becoming the most trusted and trustworthy professional services firm. As an example, under the Governance pillar, our Values continue to guide us in all that we do and drive us to improve our corporate governance. In 2023, we established the National Quality and Risk Leaders (QRLs) Committee to help engagement teams proactively and effectively manage risks.

Information security also represents a key focus area for the firm. To align with world-class standards, KPMG China has earned the latest certifications from international and national information management systems; winning an award that recognises the quality of our privacy information management system and underscores our efforts to safeguard information security.

Sustainability through harmonious coexistence

Since the 18th National Congress of the Communist Party of China, the country has upheld the development of ecological civilisation as the fundamental strategy for sustainable development. This not only leads us to act on the belief that clear waters and lush mountains are invaluable assets, but also recognises our responsibility to build and maintain a beautiful world for future generations.

KPMG China is fully supportive of the national Beautiful China initiative. Over the years, we have collaborated with various local and global non-profit organisations (NPOs) to support conservation projects dedicated to restoring our freshwater, wetland, forest and marine ecosystems, promoting the transition to become ‘nature positive’.

One of the initiatives in which the firm has taken part is a freshwater conservation project in Xiadong village, Guangdong province. This project has protected freshwater resources, improved the living environment, boosted the local economy and contributed to rural revitalisation.

In response to the national carbon peak and neutrality goals (the ‘dual carbon goals’), we are focusing on reducing emissions from our own operations by taking active measures, while collaborating with our business partners to decarbonise along our value chain. For example, our new KAMPUS office in Shanghai has integrated green, low-carbon and human-centred design concepts.

The new office manages energy efficiency, carbon emissions and other indicators in an effective way, offering an environmentally-friendly and comfortable workplace.

The power of collective impact

For an ambition to come true, everyone needs to participate and take action. At KPMG China, our people are our most important asset. We recognise the importance of cultivating an extraordinary culture for our people. As such, we have been committed to developing and retaining talented individuals and continue to invest in them. We do this through building a platform for our people to thrive, not only in their career growth but personal development. Our commitment to inclusion, diversity and equity helps to cultivate an environment for our people to come as they are, enabling them to unleash their potential. KPMG China takes pride in the substantial representation of women in leadership positions, which reached 44% in FY23.

Committed to our core value of ‘For Better’, KPMG China is actively embracing our social responsibilities. We’re harnessing our resources and expertise, joining forces with our people, non-profits, and forward-thinking businesses to explore new approaches in three critical areas: Advancing Sustainability, Lifelong Learning, and Promoting Inclusive Development. Our aim is to narrow inequalities, tackle climate change, and cultivate trust in our communities, all with an eye toward a brighter future. We encourage our people to actively participate in volunteering. In FY23, more than 1,700 of our people leveraged their professional expertise and skills and dedicated over 16,700 hours to volunteer activities organised by the firm related to education, environmental protection, diversity and inclusion, which reached over 91,000 direct beneficiaries to support those in need and deliver a positive impact on society.

Through this report and the stories of our people, we would like to take this opportunity to pay tribute to those whom have demonstrated their commitment to our Values, their hard work and their efforts to put OIP into action. We would also like to thank our clients and other external stakeholders for their continued support for our effort to deliver on the firm’s OIP commitments. Through collaboration we can make a greater impact in this challenging yet extraordinary journey.

Joining forces for a sustainable future

Through OIP, we persistently integrate ESG principles into everything that we do, making ESG a watermark running through our organisation. Upholding our unwavering purpose to inspire confidence and empower change, we believe that by collaborating alongside our stakeholders, we can create value for society and contribute to the vision of building a beautiful China with a shared and sustainable future.

Honson To
KPMG Asia Pacific and China

Our commitments and highlights at a glance

Our commitments

Purposeful business

  • Always act with a clear purpose  
  • Lead the profession in audit quality  
  • Drive a responsible tax practice 

Acting transparently with integrity and accountability

  • Act lawfully, ethically and in the public interest 
  • Work against corruption in all its forms, including extortion and bribery  

Human rights

  • Respect human rights

Our highlights

Upgraded the firm’s information security management system to the latest standards, winning certification and recognition for our privacy information management system


Achieved 100% completion rate in anticorruption training for our Board and Executive Committee members                                       

Established the

National Quality and Risk Leaders Committee

enabling our business to manage risk proactively and efficiently

Contributed to the establishment of the Shenzhen Corporate Compliance Association as the

founding deputy chairman,

demonstrating and fostering better corporate compliance

Our commitments

Inclusion, diversity and equity

  • Have an inclusive culture built on trust 
  • Advocate for equal opportunity 
  • Foster an educated, empathetic workforce 

Health and well-being

  • Protect the health of our people, both physically and mentally, and enable them to be effective and productive

Continuous learning

  • Develop a continuous learning culture

Our highlights

Boosted female representation in leadership:

44% of leadership (partners and directors) ( ↑ 2% from FY22)

47% of newly promoted partners ( ↑ 3% from FY22)

Total training of full-time employees exceeded 1 million hours

Launched the ESG 201 Transformation Curriculum e-Learning
to broaden understanding of ESG across the firm


Released KPMG China’s first Inclusion Guide, with the goal of creating a more inclusive culture                                       


Launched the GBA1 GoGoGo city tour series to enhance our people’s awareness and understanding of the GBA, and its associated opportunities

1 Guangdong-Hong Kong-Macao Greater Bay Area (GBA)

Our commitments


  • Achieve net-zero carbon emissions by 2030(KPMG Global goal)
  • Source 100% renewable electricity through purchasing renewable energy certificates (RECs) and sourcing renewable energy supplies 
  • Report our climate performance 
  • Drive behavioural change to improve environmental practices in our workplace 

Climate risk

  • Give financial markets, clients and our leaders clear, comprehensive, high-quality information on the impacts of climate change

Nature and biodiversity 

  • Understand our impact on nature and biodiversity, and make positive improvements 

Our highlights

Completed the first year of charging of the internal carbon price (ICP)

Continued to fulfil the 100% renewable electricity commitment first made in FY21

Net greenhouse gas emissions: 80,017t CO2e
↓ 24% in per capita net carbon emissions against the FY19 baseline

Announced16 eligible Green Routes,to encourage lower carbon travel options

Engaged with 28 suppliers through the CDP1 Supply Chain programme ( ↑ 22% against FY22)

Leveraged Earth Day, World Environment Day and other major events to drive staff engagement in environmental volunteering activities

1 CDP was formally known as Carbon Disclosure Project

Our commitments

Contribute to the economic development of China
Support the communities in which we operate

Our highlights

Extended market presence to 31 cities with a newly opened office in Wuxi and a new KPMG Delivery Centre (KDC) in Chengdu

Grew total community investment:

  • RMB 33.3 million+ in financial value(↑ 29% vs FY22)
  • 91,000+ direct beneficiaries reached (↑ 140% vs FY22)
  • 16,776 volunteer hours devoted(↑ 145% vs FY22)
  • 11,874 pro bono professional service hours devoted (↑ 14% vs FY22)

Supported the completion of the fifth rural primary school and delivered school missions throughout the year to further promote rural education

Supported the Running Water Plan to enhance the professionalisation of over 100 grassroots non-profit organisations, indirectly benefiting around 116,000 people

Wilson Pang

“KPMG China strives to lead by example, using our professional expertise to make a meaningful contribution to our society’s sustainable development. We continue to amplify OIP’s positive impact, both internally and externally, empowering our people to catalyse ESG transformation, embodying sustainability in our daily work and lives. By changing our own behaviour and inspiring those around us to join in, we cultivate an ESG ecosystem, paving the way for a more sustainable future.”

Wilson Pang
Head of Our Impact Plan, KPMG China
Head of GBA Strategy and Development Office, KPMG China
National Philanthropy Steering Committee Member, KPMG China

  • Our key ESG focus

    Based on our materiality assessment, we have introduced ‘sustainable supply chain management’ as a new material topic, highlighting its critical importance within our ESG strategy and responding to the evolving expectations of our stakeholders.

    In addition to this new topic, we have reviewed and confirmed the relevance of our 15 existing material topics, ensuring they continue to align with both our business objectives and stakeholder interests. To enhance clarity, we have further updated and elaborated on two of these topics to better articulate their direct or potential impacts:

    1) ‘Alignment with government priorities’ has been revised to ‘public policy engagement and alignment’ and

    2) ‘Circularity’ has been changed to ‘circularity and sustainable operations’

    Following these updates KPMG China's Executive Committee has thoroughly reviewed and approved the 16 material topics outlined in this report.

      • 1. Purpose, culture and values

        Our Purpose – to inspire confidence and empower change – guides our way of doing business. Our corporate culture and values help drive consistency in how we make our decisions every day.

        2. Relevant quality services in the public interest

        Providing services that align with the public interest allows us to create a positive impact for our stakeholders.

        3. Ethics, integrity and independence

        By acting with integrity and maintaining independence, we become trustworthy and shape how we are viewed by the world.

        4. Transparency and accountability

        We maintain transparent and open communication with our stakeholders. We hold ourselves accountable for our actions.

        5. Information protection

        Cybersecurity and data privacy represent significant risks if they are not closely monitored. Protecting information is fundamental to every service that we offer to our clients.

        6. Public policy engagement and alignment (updated)

        We actively participate in the public policy process, fostering trusted relationships with government authorities and regulators through sharing recommendations and insights that address societal and industry challenges. Our strategies and efforts are closely aligned with national polices and directions.

      • 7. Talent attraction, development and retention

        Attracting, nurturing and retaining our people is key to the sustainability of our business. Employment conditions are crucial to our people’s satisfaction at work.

        8. Staff health and well-being

        Taking care of our people’s health and well-being continues to be a top priority of our people agenda.

        9. Inclusion, diversity and equity

        Fostering an inclusive, diverse and equitable workplace encourages open communication and allows our people to flourish, regardless of individual differences.

      • 10. Climate action

        To support our global climate goals, we strive to decarbonise our operations and work with business partners to reduce emissions across our value chain.

        11. Responsible supply chain management (new)

        We strive to promote sustainable sourcing practices and continuously optimise our procurement strategy to drive carbon reduction in the supply chain, to meet KPMG China's sustainability and (environmental) expectations.

        12. Circularity and sustainable operations (updated)

        Integrating circular economy principles into our operations optimises resource use efficiency, curbs consumption and improves end-of-life treatment, reinforcing our commitment to operational sustainability and advancing our climate goals.

        13. Nature and biodiversity

        Business activities contribute to nature loss directly and indirectly. Protecting and restoring nature and biodiversity helps to reduce carbon emissions and aligns with our net-zero target.

      • 14. Financial and brand resilience

        Ensuring healthy financial performance and a positive brand image is essential for building a resilient business in the long run.

        15. Technology and innovation

        Embracing the benefits of technology and innovation gives our business a cutting edge and helps address social and environmental issues.

        16. Impactful community initiatives

        Providing support through philanthropic investment, volunteering and pro bono services, and collaborating with nonprofit organisations, has a positive impact on our communities.


“Actively engaging and supporting China's national policies is a vital thread in our ESG journey, enabling us to make a contribution to addressing some of society’s key issues and challenges. We are dedicated to working hand-in-hand with our stakeholders, channelling our knowledge and efforts to contribute to the country’s modern socialist development and to play our part in the great rejuvenation of the Chinese nation. ”

Tracy Yang
Head of Corporate Affairs
Senior Partner, Eastern and Western Region
KPMG China

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