KPMG earmarks $1.5bn for ESG expansion

Creating regional ESG hubs and focusing on talent and solutions

KPMG is to establish regional ESG hubs across the world in a plan to spend $1.5bn over the next three years developing its sustainable investment capabilities.

The tax, audit and advisory service company has announced a ESG strategy that will focus on training the global workforce, harnessing data, developing new technologies and establishing partnerships to drive industry action.

Regional ESG hubs are to be established in Europe, Asia Pacific and the Americas to support clients integrating ESG, while KPMG is also launching an initiative called Emerging Markets Accelerators to deliver region-specific support in developing nations.

Earmarking $1.5bn to spend on the three-year plan, KPMG identified five priority areas:

  1. Solutions

This will involve helping large multinational businesses meet their net-zero commitments as well as establishing the regional hubs. KPMG will also invest in climate and ESG solutions and technologies, including Climate IQ, a digital tool that helps clients identify opportunities and risks arising from climate change. It will also expand its workforce, both for ESG advisory work and to provide assurance on ESG disclosures.

  • Talent

KPMG will train the 227,000 people in its organisation by working with two leading global academic institutions, University of Cambridge Judge Business School and NYU Stern Executive Education.

  • Supporting developing nations

As mentioned, the KPMG Emerging Markets Accelerators will be launched for developing nations in the Eastern Mediterranean, Africa, Asia Pacific and Latin America to ensure areas of the world lacking expertise and resources have a KPMG advisor to support their economic and social development in line with the UN Sustainable Development Goals.

  • Collaborations and Alliances

KPMG is building on its collaboration with external organisations such as UNESCO, Enactus and the Global Reporting Initiative, and through alliances with Microsoft and ServiceNow, the firm is co-creating new tools and solutions that it said will provide critical insights based on data that clients can use to map their ESG journeys and implement vital changes to meet their commitments.

  • Listening and taking action

To help support the engagement pillar of its global ESG strategy, KPMG is also launching a campaign called Voices for a Sustainable Future, offering a platform to amplify the views of established and new thinkers, giving voice to critical issues – from climate change to gender and race equality.

Bill Thomas, KPMG’s global chairman and CEO, said: “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 ESG agenda at the heart of everything we do. ESG will be the watermark running through our global organisation; 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.”


Natalie Kenway

Natalie is editor in chief at MA Financial covering ESG Clarity, Portfolio Adviser and International Adviser. She was previously global head of ESG insight for ESG Clarity and has been an investment journalist...