KPMG Ireland has announced its commitment to be a net-zero carbon organisation by 2030, as part of its continued focus on supporting sustainable growth and innovative climate solutions for Irish business.
To underpin this goal, Ireland’s largest professional services firm is committing to a robust ‘science-based’ approach, in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement and the 1.5°C Pathway.
Quantifiable targets
The targets, which have been approved by an independent third party, the Science Based Targets initiative (SBTi), will see the firm commit to reduce absolute scope 1 and 2 greenhouse gas emissions by 80% by 2030, and to reduce scope 3 emissions by 30% over the same timeframe*. The firm has also committed to reducing any residual emissions through independently verified carbon offset and removal initiatives verified by decarbonisation experts from its Sustainable Futures division.
Key to achieving these emissions reductions are actions such as reducing the firm’s reliance on fossil fuels, embedding best available technologies to increase building efficiencies (Scope 1), as well as increased use of renewable energy sources (Scope 2). To address indirect emissions that occur in its value chain (Scope 3), the firm will work with suppliers to ensure their sustainability ambitions align with its commitment to achieve carbon reductions.
To ensure that KPMG Ireland’s climate actions are creating a measurable impact, the firm will track progress against its commitments through regular reporting to the SBTi. The Irish firm is just one of 11 companies in Ireland to date that have actual science based targets approved by the SBTi.
Building on progress
The latest science based targets announced by KPMG build on the firm’s demonstrated commitment to the sustainability agenda having successfully reduced its Scope 1 and Scope 2 emissions by 50% to date. Over the last 10 years, KPMG has substantially increased its employee numbers while succeeding to reduce its net carbon emissions per full time employee by more than 50%.
The firm will build on this progress to increase its focus on tackling Scope 3 emissions, which include purchased goods and services, business travel, employee commuting, waste disposal, investments, working with like-minded suppliers and other activities in its supply chain.
KPMG Ireland Managing Partner Seamus Hand said: “Businesses are increasingly recognising the urgency of the climate crisis, and the importance of aligning their operations with a net zero trajectory. Large organisations in particular have an obligation to lead by example and I’m really proud to commit our firm to the Science Based Targets initiative, an independently verified pathway to becoming a net-zero carbon organisation by 2030.”
“Alongside making our own climate commitments, we have also invested significantly in establishing Ireland’s leading sustainability and climate change advisory practice, KPMG Sustainable Futures, to assist our clients navigate and implement their own response to the fast-evolving agenda”.
- * Scope 1 emissions are direct emissions from company-owned and controlled resources, (e.g. fuels, heating sources)
- Scope 2 emissions are indirect emissions from the generation of purchased energy, from a utility provider - all GHG emissions released in the atmosphere, from the consumption of purchased electricity, steam, heat and cooling.
- Scope 3 emissions are all indirect emissions that occur in the value chain, including both upstream and downstream emissions linked to the company’s operations and include such items as business travel, employee commuting, waste generation, purchased goods and services.
Get in touch
For further information on sustainable targets at KPMG, or how your business can benefit from sustainable initiatives, please contact our Sustainable Futures team. We'd be delighted to hear from you.
Seamus Hand
Managing Partner
KPMG in Ireland