Net-zero carbon by 2030: Doing what is right

Where’s your happy place? Relaxing by the ocean, cycling through the forest, or atop a mountain surrounded by powdered snow? For many of us, being in nature brings a simple kind of joy, unrelated to the ups and downs of everyday life. When the planet is threatened, our very well-being and mental health are also at risk. And, what’s ever clearer and more dangerous, is that human life will also be at risk if we don’t act soon. That’s why I feel so passionately about protecting our planet from looming danger.

I’m proud that KPMG has today announced its intention to become a net-zero carbon organization by 2030, as part of its continued focus on delivering growth in a sustainable way and providing climate solutions for member firms, clients and society.

To underpin this goal, our global organization has signed up to a series of new climate actions, including a 1.5°C science-based target which will focus on achieving a 50 percent reduction of KPMG’s direct and indirect greenhouse gas (GHG) emissions by 2030.

Additionally, KPMG firms have collectively committed to:

• 100 percent Renewable Electricity (RE) by 2022 in its Board Countries, and by 2030 for the wider network
• Offsetting any remaining GHG emissions through externally accredited voluntary carbon offsets to mitigate the remainder it cannot remove from its operations and supply chain

We are taking this rigorous approach by using in-house experts to project KPMG’s path to decarbonization. From this we have also developed a carbon forecasting model for KPMG firms that enables bottom-up target setting.

This model maps the impact and sources of emissions and how a change in policy, for example on business travel, can have a significant impact on greenhouse gas emissions.

To remain confident that KPMG firms’ climate actions are making a difference, the global organization will also track progress against the new commitments by measuring and reporting to CDP (formally the Carbon Disclosure Project) and the Science Based Targets Initiative.

Our carbon reduction plan will aid not only our own progress towards reducing the effects of the climate on tomorrow’s world, but it will also contribute to our clients’ efforts to reduce their end to end carbon footprint.

With this new set of global commitments across KPMG, I am confident that we are making the right decisions today to make a difference tomorrow. It’s one step towards preserving the planet for future generations. But I believe that in Luxembourg we can do more. In the coming weeks, the culmination of several months of work on Luxembourg-based targets will come to fruition, and we’ll be announcing local commitments towards a sustainable future. This journey is only possible if we all play a part, and I’ll be making sure that KPMG does all that it can— a key focus during my tenure as Managing Partner of KPMG.