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Our planet
Becoming a nature-positive business
Placing nature on the path to recovery
The truth is: the natural world is changing. And we are totally dependent on that world. It provides our food, water and air. It is the most precious thing we have and we need to defend it.
Sir David Attenborough
Our commitments
Globally, KPMG has made a commitment to understanding and improving our impact on nature.
The importance of nature
We know that nature is critical to life and has so many positive benefits to society and the economy, which is why we’ve been working to better understand our impacts on nature here in the UK to support our global commitment. We’ve been engaging with our suppliers and other organisations to identify areas where collaboration can have a positive impact on the natural environment, and we’re bringing our colleagues along on that journey too so that they can get involved. All
businesses will depend on nature in some way and we’re continuing to support clients with some of the challenges that they’re facing.
Engaging our supply chain
While we may not have the largest impact on nature compared to other sectors, from our initial materiality assessment, we know much of our impact is associated with our value chain.
We’re working with our suppliers to reduce our impact. We strive to source ethical raw materials and have set clear sourcing principles for our key products. For example, we’re working closely with our catering supplier to further reduce our impact and we’re reducing the amount of meat we consume by offering colleagues vegan and vegetarian options. We’ve also examined our impact through our operations and have reduced our reliance on chemical cleaners used in daily cleaning
across our larger offices.
In 2024, we conducted an initial assessment of our top fifteen suppliers and their key potential nature-related dependencies and impacts based on key sectors they operate within. In parallel, we have relaunched our Responsible Supply Chain Programme to cover four pillars, one of which is Nature, Waste and Lifecycle Management. As part of the new programme, we have completed our first set of engagement meetings with strategic supplier managers.
Engaging our people
We know that biodiversity is a subject of interest to many colleagues, so we have been supporting them to learn more about the topic through our Sustainability Unplugged sessions. In 2023 we took colleagues behind the scenes of BBC’s Wild Isles series and the Business of Nature with two guest speakers to explain the importance of nature and what we can do to support it. This virtual event also covered how we’re helping are clients in this space too.
We’ve also held wildlife photography competitions in collaboration with our internal conservation network, encouraging colleagues to get out into nature.
Green Team Volunteering
Our Green Team volunteering programme is a self-funded activity that brings together teams of colleagues to take part in exciting environmental projects around biodiversity preservation, nature reserve support, invasive species management, wildlife meadow establishment. It is a great opportunity to connect with colleagues in nature and give back to local communities.
Colleagues in Reading took part in Green Team days at Hosehill Lake near Reading, helping to build part of a footpath and cut back brambles.
The team said: "Overall we constructed about 20m of pathway and made the lake much more accessible, such a great achievement. It is great to have the opportunity to get away from our laptops, connect with new and old colleagues and do something great for our local community."
Future Skills
The Net Zero economy is going to bring about an unprecedented demand for ‘green skills.’ We’re working with schools in areas of low social mobility to build students’ ‘sustainability mindset’ and help prepare and excite them for changing world of work.
Over 400 organisations have committed to disclosing against the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD). As a result, we can expect hundreds of nature-related reports to be published in line with the framework over the next couple of years. A core part of this journey is for companies to deepen their understanding on how nature impacts their business model, and vice versa. The approach favoured by TNFD is known as the “LEAP”
methodology - to Locate the interface with nature, Evaluate dependencies and impacts, Assess material risks and opportunities and Prepare to respond and report.
Our team recently supported two large banks to take their next LEAP steps. For the first, we supported the bank to assess its readiness to report against TNFD. As part of this, we interviewed stakeholders from across the business and reviewed internal documentation to score them against the TNFD framework. This was in turn used to develop a detailed roadmap of activity to conduct a LEAP assessment credibly in preparation for their TNFD reporting. This represented a
long-term partnership and helped us to successfully build upon previous work we had done with the client to heatmap their nature-related risks and opportunities, and support them to identify data requirements.
For the second, we provided expert engagement, methodology and analysis support as they performed a pilot LEAP assessment, considering the potential scale of nature-related risk across priority sectors. We ran a series of workshops with key stakeholders, to educate on nature, share analysis, and discuss what the results could mean for the future. Levering our deep expertise on nature strategy and data, and our wider KPMG network of sector experts, we were on-hand to
assist the client as they designed and executed an assessment framework for the first time.
Begoña Ramos / Director, ESG Strategy, KPMG in the UK
Understanding the impacts of nature-related risks
With growing regulatory requirements that build on the foundations laid by the Taskforce on Nature-related Financial Disclosures (TNFD), such as the Corporate Sustainability Reporting Directive (CSRD), organisations are seeking to better understand how nature-related risks and opportunities could impact their business. For companies that identify topics such as biodiversity and ecosystems, water and pollution as material through their CSRD Double Materiality Assessment,
there’s a need to understand the extent to which their business model is resilient to key risks.
“Our team recently supported a large pharmaceutical company in understanding the extent to which their emerging nature strategy could increase resilience to nature-related risks. Our client was interested in understanding whether their nature strategy could sufficiently reduce potential financial impact of nature degradation and regulation – or whether there were key gaps.
To do so, we designed a bespoke qualitative nature scenario analysis framework that allowed us to analyse physical and transition risks across their value chain – considering topics ranging from critical raw materials, to water use for direct operations, to pharmaceutical pollution in wastewater. In the context of a ‘high nature degradation’ pathway, we assessed the extent to which the client’s ambitions and targets could reduce the level of potential risk associated with
their current business model. Our analysis was global in nature – based on the most significant procurement and operational regions.
Our work supported the client in two key ways. First, it provided evidence-based insight that can support them to enhance and guide their roadmap, supporting to increase resilience to potential nature-related risks; and second, it resulted in outputs that can be leveraged to support CSRD ESRS E4 disclosure, as the client prepares to report for the first time.”
Carys Goodwin / Associate Director, ESG Strategy, KPMG in the UK
