KPMG allocates $2.04b for ESG commitments
These hubs are to be established in Europe, the Asia Pacific, and the Americas.
KPMG announced that it aims to advocate more for Environmental, Social, and Governance (ESG) issues with its latest program.
More than $2.04b (US$ 1.5b) will be spent over the next three years to achieve this goal.
The program focuses on five priority areas—solutions, talent, support for developing nations, collaborations and alliances, and listening and taking action.
To supplement this, five hubs will be established to provide solutions to key ESG issues, such as global decarbonisation and ESG advisory. These hubs will be based in Europe, the Asia Pacific, and the Americas.
ESG training will also be provided to the company’s 227,000 people. These will be done in partnership with the University of Cambridge Judge Business School and NYU Stern Executive Education.
For developing nations, KPMG will be launching KPMG Emerging Markets Accelerators. Areas covered by this initiative include developing nations in the Eastern Mediterranean, Africa, the Asia Pacific, and Latin America.
Alliances with Google Cloud, Microsoft, and ServiceNow are also in place to create new tools to provide critical insights that can aid companies in their ESG journeys.
Bill Thomas, global chairman and CEO of KPMG, spoke about how the ESG goals became a central theme of their organization.
“How you grow matters, and what worked for us and other businesses in the past will not work in the future. The world faces crises on multiple fronts, which is why we’re putting the Environmental, Social and Governance agenda at the heart of everything we do. ESG will be the watermark running through our global organization; from empowering our people to become agents of positive change, to the services with our clients and our partnerships with critical stakeholders. KPMG has the global scale, expertise, technology, and relationships that give us the ability and responsibility to use our position to provide solutions and services to overcome the challenges facing our planet and society.”