Zero-net emission: KPMG to inject $1.5 billion on global solutions in 3yrs

By Solomon Ezeme

As global drive towards decarbonisation gathers momentum, KPMG professionals has unveiled plans to inject more than $1.5 billion over the next three years on the development of world-class expertise and solutions on key Environmental, Social and Governance (ESG).

The planned competence man power development would streamline energy transition solutions for Nigeria and other countries to where its professional services are needed.

The company in a statement on Wednesday said the initiative is underpinned by its recognition of its responsibility to heighten its commitment to the global decarbonisation project.

The statement added that five newly dedicated hubs are to be established to provide world-class expertise and solutions on key ESG issues, to focus on, “Global Decarbonization, help large multinational businesses meet their net-zero commitments and plan their decarbonization journey.
“Also, it would focus on global ESG Advisory, backed by Advisory teams from KPMG firms, offering market-leading ESG expertise including leadership on societal issues and solutions.

Recall that operations in the petroleum industry have continued to breed environmental pollution, even as the oil and gas communities, that suffer the negative impacts of operations have lost about N44 trillion in the past 22 years.

The statement explained that the planned strategy is designed to support KPMG firms’ clients in making a positive difference in the pursuit of the global zero emissions target.

“This strategy is underpinned by KPMG’s recognition of its responsibility to improve its impact on the world and the ESG commitments outlined in KPMG.

“The collective investment will focus on training and expanding KPMG’s global workforce, harnessing data, accelerating the development of new technologies, and driving action through partnerships, alliances and advocacy. The key to the transformation will be embedding ESG in the organization and client solutions to drive measurable change.

“The new global ESG strategy focuses on five priority areas, such as Solutions, Talent, Supporting developing nations, Collaborations and Alliances and Listening and taking action.”

“Three KPMG Regional ESG Hubs will also be established in Europe, Asia Pacific and the Americas to allow clients easy access to world-class insights and expertise across the ESG agenda.
“KPMG will invest in its leading climate and ESG solutions and technologies, including Climate IQ, a digital tool that helps clients identify opportunities and risks arising from climate change.”

To complement the technological investments, the global organization said it will also expand its workforce, both for ESG advisory work and to provide assurance on ESG disclosures.