Environment

We adhere to a formal environmental policy with a target to reduce greenhouse gas emissions.

We adhere to a formal environmental policy with a target to reduce greenhouse gas emission

Our 2021 materiality assessment indicates that climate change is an environmental factor that we can influence. The first results of our updated materiality assessment suggest that climate mitigation is one of the most important issues we can influence. With that in mind, we are working towards KPMG's global goal of being “net zero” (carbon neutral) by 2030.

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Work in progress on renovating our office in Selfoss

We have continued to pursue our goals throughout the operating year. Renovations of our facilities in Borgartún were completed in the operating year, and were awarded a Swan eco-certification. Renovations to our premises elsewhere in Iceland began during the operating year. Renovations were completed in Selfoss and renovations in Sauðárkrókur are underway. Employees continued to be encouraged to take advantage of more environmentally friendly modes of transport to and from work and during working hours. Work continued to reduce food waste in our canteen, and the process to recycle computer equipment is ongoing. This year, we worked on further analysis of how we can reduce emissions.

Our environmental and climate impact is also indirectly manifested through our work with clients. We are committed to educating and assisting our clients in sustainability matters, both when it comes to strategy and implementation, as well as providing advice on updated sustainability requirements and regulations.

Main emission factors and year-over-year changes

When it comes to emission calculations this year, we use our GreenSenze solution, which allows us to increase the scope of factors included in the calculations, giving us both greater insight and transparency into our main emission factors.

When comparing year-over-year carbon emissions, it is important to keep in mind that the increased scope of measurements results in higher emission values, and the new, more accurate GreenSenze methodology includes more factors in the measurements than in previous years. Consequently, our emissions may be higher this year for certain factors initially, but we expect the comparison to be more accurate year-over-year with this revised methodology. Additionally, this year, a new coefficient for calculating hot water usage from the Environmental Agency of Iceland was introduced, which largely explains the significant increase in our Scope 2 emissions, along with more data being included for waste emissions compared to the previous year.

Our total emissions for the year amounted to 672.5 t CO2e.

96,9% of the emission was from Scope 3

The increase in emissions between years can primarily be attributed to changes in methodology and a new calculation factor for increase in the scope of primary data, as well as an increase in full-time equivalents of staff

As was the case in 2023, our highest emissions are from Scope 3, or 96.8%. The largest part is due to purchased goods, most of which is bought for our canteen. This was followed by emissions from employees' commutes to and from work, followed by emissions from employees’ business trips.

We continued to encourage employees to use more environmentally friendly transport and reduce the number of unnecessary trips. The increase in emissions from employees’ commutes to and from work was roughly 16%. This can mainly be attributed to an increase in the number of staff between years. Business travel was down 46% from the previous year, despite the addition of emissions from both domestic and international stays.

Emissions for hot water and electricity consumption rose considerably between years, from 3.2 t CO2e to 21.4 t CO2e. The increase is mainly due to a change in methodology and a new calculation factor from the Environment Agency, as well as a much larger scope of source data than in the previous year. There is also a 16% year-on-year increase in full-time equivalent staff positions.

Projects in the KPMG canteen to combat food waste

In recent years, steps have been taken to further reduce food waste from our canteen in Borgartún. Projects undertaken include training canteen staff, increasing the sorting of waste, and amending side dishes and portion sizes. We note what and how much is thrown away and make all necessary adjustments.

We consider employee awareness to be one of the key factors when it comes to reducing food waste, and therefore carbon emissions. To this end, we have installed a leftover bin on a scale, so staff can see how much food is thrown away each time.

Finally, we strive to buy as many locally sourced ingredients as possible, as well as considering how the food is produced and from what ingredients. Our goal is to make people feel good after their meal, while also minimising negative impact on the environment and supporting activities in our local community.