The 2023 update of our environmental, social and governance (ESG) commitments — holding us accountable for progress toward a more sustainable future.
A message from our Global Chairman and CEO Making change meaningful
KPMG is at its best when our many thousands of people are working side by side with each other and our clients to solve problems, both big and small. We do it every day, bringing the best people, the most innovative technology, and all of our collective experience to help businesses, governments, non-governmental organizations and the communities in which we work.
Through Our Impact Plan, we turn the mirror on ourselves, which is why I am pleased to provide this annual update on our progress to meet our commitments. We analyze what we can and should be doing to meet our responsibility to help shape a better future by doing what we do best — solving problems to make lasting, meaningful change.
Making change meaningful
KPMG is at its best when our many thousands of people are working side by side with each other and our clients to solve problems, both big and small. We do it every day, bringing the best people, the most innovative technology, and all of our collective experience to help businesses, governments, non-governmental organizations and the communities in which we work.
Through Our Impact Plan, we turn the mirror on ourselves, which is why I am pleased to provide this annual update on our progress to meet our commitments. We analyze what we can and should be doing to meet our responsibility to help shape a better future by doing what we do best — solving problems to make lasting, meaningful change.
This past year saw us make important strides in each of our four priority areas: Governance, People, Planet and Prosperity. Highlights include reaching a 25 percent carbon emissions reduction against our 2019 baseline, achieving a 50:50 gender balance on our Global Management Team, and using our scale to invite more than 500 key global suppliers to disclose their carbon footprint data. There are plenty more examples showing the actions we are taking to meet our responsibility.
We know that we need to do more to match the expectations and needs of a world that is changing very quickly. That’s why we want to be transparent about our progress. We want our people, our clients and everyone who relies on us to understand where we are and where we are going. But one of the most important lessons we’ve learned since we started this journey is that meaningful change takes commitment and, ultimately, time.
I am confident that we’ll get there though, and it’s going to take the focus and determination of all of our 260,000 people to do it.
With people across the world impacted by the many significant global challenges, it’s important to focus perspective on what matters most. I firmly believe businesses are a critical component to the many solutions needed to the pressing challenges our communities and society face. And I remain convinced, seeing it at KPMG every day, if confronted with a problem, that humanity's capacity to create a solution is limitless.
We continue to work together to create meaningful change, and Our Impact Plan is our roadmap to get there. Thank you for taking the time to learn more about how KPMG is changing itself — Together. For Better.
Bill Thomas
Global Chairman and CEO
KPMG International
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 accountability and integrity
- Act lawfully, ethically and in the public interest
- Work against corruption in all its forms, including extortion and bribery
Human rights
- Respect human rights
KPMG Malta highlights
Staff receive training on our
integrity and ethical
standards, our
global code of conduct, anti-bribery and compliance
with laws, regulations and professional standards
Anonymous whistleblower hotline
for reporting of concerns in relation to compliance with professional, regulatory or legal obligations
We report on
audit quality practices and procedures
as part of our Annual Transparency Report
Policies on corruption, independence and ethics
are published in the annual Transparency Report
Our commitments
Inclusion, diversity and equity (IDE)
- Have an inclusive culture, built on trust
- Foster an educated, empathetic workforce
- Advocate for equal opportunity
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
KPMG Malta highlights
In 2022,
females made up 48% of our management,
and we employed
staff from 39 nationalitiesWe offer our employees
free counselling
with Richmond Foundation, staff opportunities for
hybrid and flexible working,
and
extended maternity leave
to female employees at Assistant Manager level and upwards
In 2022, we spent
71,780 hours / €3m on learning and development
In 2022,
all staff received ESG foundations training
Our commitments
Decarbonization
- Achieve net-zero carbon emissions by 2030
Climate risk
- Give financial markets, clients and our leaders clear, comprehensive, high-quality information on the impacts of climate change
Nature and biodiversity
- Understanding and improving our impact on nature and biodiversity
KPMG Malta highlights
In 2022, we achieved a
29.8% reduction in carbon emissions
over
2019, our baseline year
In 2022, we set up
a dedicated ESG function to champion the ESG agenda
across the firm, and to
enhance our support to clients
in their journey towards sustainability
Participated in a
clean-up and tree planting event
for World Environment Day 2022,
and a clean-up
for World Clean-Up Day 2022
Our commitments
Making a positive social and economic impact
- Support education and lifelong learning
KPMG Malta highlights
Headcount grew to
over 493 people
in 2022 (excl. contractors and students)
€135,450 in donations
in 2022 (including volunteered time)
Delivered
external training
and produced
several thought leadership pieces
on ESG in gaming, banking, asset management, insurance and real estate, and the Corporate Sustainability Reporting Directive
Published several thought leadership pieces on ESG
in banking, gaming, insurance and real estate, among others
People
Creating a caring, inclusive, Purpose-led and Values-driven culture for our people.
Planet
Reducing our impact on the environment to build a more sustainable and resilient future.
Integrating supply chain into our commitments
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Material topics
We’re committed to building a better KPMG. One way we’re doing that is through regular materiality assessments to help ensure we’re focusing our attention and resources in the areas where we can make the largest impact.
- data from independent trust research conducted annually (3 May to 15 July 2022) in our eight key markets (Australia, Canada, China, France, Germany, Japan, the UK and the US), including views from the C-suite, wider stakeholders (including industry and trade associations, academics, non-governmental organizations and advocacy groups, multilateral organizations, business analysts and investors) and the informed public
- data from the Employee Engagement Index and Employee Trust Drivers from our Global People Survey
- our most significant business risks using our proprietary Dynamic Risk Assessment methodology
- material topics identified by KPMG firms and those published by other large global professional services organizations
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Ethics, integrity and independence
We’re committed to the highest standards of personal and professional behavior in everything we do. Ethics and integrity are core to who we are and why everyone at KPMG is responsible and accountable for their conduct.
Transparency and accountability
All KPMG firms are committed to our shared Purpose and Values, standards and service quality expectations. Our clear governance and practice management standards help ensure we’re driving consistency and accountability across our entire global organization.
Relevant, quality services in the public interest
We have a fundamental commitment to serve the public interest and build trust. We do this by leading in audit quality, driving responsible tax practices and advising clients on ways in which they can transform their business to help create sustainable value — embedding ESG into client services.
Information protection
We have policies, processes and controls that address confidentiality, information security and data privacy. We provide annual training on confidentiality, information protection and data privacy requirements. Our clients and stakeholders entrust us with sensitive information, and we’re committed to observing applicable laws and regulations and investing in systems to help keep them safe and secure.
Purpose, culture and values
We’re led by our Purpose — to inspire confidence and empower change — and driven by our Values in creating a caring and inclusive culture that provides our people with opportunities to make an impact, solve challenges and tap into their passion for doing work that matters.
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Talent attraction, development and retention
By fostering an environment that values continuous learning and development, we empower our people with tools to help them succeed and make their mark. We’re focused on growth and upskilling our talent with leading technologies and future-proof skills.
Inclusion, diversity and equity (IDE)
Unique experiences and perspectives enhance KPMG and help create the drive for a fairer, more equitable society that includes everyone. We’re committed to embedding and improving IDE across our global organization — encouraging people to come as they are.
Health, well-being, workload and job security
To create opportunities for themselves and others, our people should be at their best, both physically and mentally. Our responsibility is to help our people to be healthy, secure and supported through the challenges in their personal and professional lives — enabling them to thrive.
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Environmental sustainability
Human activity has changed the Earth’s natural capabilities — pushing planetary boundaries and threatening humanity’s very existence. Addressing climate change, water pollution, deforestation and biodiversity loss is a key to enabling responsible growth. We’re committed to driving a culture of sustainable practices within our global organization, supply chain and beyond to help ensure a healthy planet for generations to come.
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Financial, operational and brand resilience
Through a diverse business model that emphasizes strong and agile processes and practices, we’re well positioned to remain resilient in increasingly complex and volatile environments — promoting wider economic growth and prosperity.
Technology and innovation
Our continual investment in technology and innovation helps ensure we’re keeping up with the accelerating pace of technological change, positioning us for future success so we can meet stakeholder expectations and growth objectives.
Impactful community initiatives
We’re committed to having a positive impact on the communities we serve, and we’re increasing our investment in a wide range of social initiatives with an emphasis on education for youth and underrepresented populations.
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In the past year, we reexamined the list of our 12 material topics shared in last year’s Our Impact Plan within the context of recent geopolitical events, changes in our stakeholder and business priorities, relevant reporting standards like the Global Reporting Initiative (GRI), and emerging data and insights from our key stakeholders. We took the following into consideration:
We’re committed to continuing to improve and refine our methodology as well as reporting on our material topics. We anticipate that our reporting will, over time, transition to adopt the new standards set by the International Sustainability Standards Board (ISSB). We continue to disclose and explain how we’ve applied the World Economic Forum International Business Council Stakeholder Capitalism Metrics, as well as other reporting frameworks, including the United Nations (UN) Global Compact Principles.
How our 12 material topics connect to our commitments outlined in Our Impact Plan:
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2023 update
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Our Impact Plan represents the collective environmental, social and governance commitments of independent KPMG firms, affiliated with KPMG International Limited. The data represented in Our Impact Plan is aggregated data from KPMG firms for the 12 months to 30 September 2021 unless stated otherwise. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. Where the terms “KPMG,” “firm,” “we” or similar references are used without definition, they are intended to refer to KPMG International Limited and the independent KPMG firms.
The financial information set forth represents combined information of the independent KPMG member firms that perform professional services for clients, affiliated with KPMG International Limited. The information is combined here solely for presentation purposes. KPMG International Limited performs no services for clients nor, concomitantly, generates any client revenue.
Throughout this webpage, “we”, “KPMG”, “us” and “our” refers to the global organization or to one or more of the member firms of KPMG International Limited (“KPMG International”), each of which is a separate legal entity.