KPMG International hit some turbulence on its mission to reach net-zero carbon emissions.
The Big Four firm saw its emissions increase 4% to 1,483 kilotons last year, up from 1,383 kilotons in 2022, according to the latest edition of its annual
KPMG's air travel emissions increased 77% year-over-year, and "other" business travel emissions increased by approximately 37%. Looking at gross emissions by region, Europe, the Middle East and Africa accounted for a 38% increase. Meanwhile, the Americas and Asia Pacific decreased their gross emissions by roughly 19% and 8%, respectively.
Despite the increase, the firm has still seen a 40% overall decrease in air travel emissions compared to its 2019 baseline, and its gross emissions have declined 22% since then.
"The rise in air travel is principally due to our people beginning to reconnect with client and team members following post-COVID-19 travel restrictions as well as organizational growth and a change in emissions factors," the report reads. "Due to proactive travel management, the implementations of sustainable travel guidelines across KPMG firms, and the behavior-changing influence of our ICP, this 'rebound' in air travel has not brought us back to pre-pandemic levels."
Positively, KPMG reduced its total electricity usage and grew its proportion of renewable energy across the organization from 79% to 81%. The firm credits these results to the continuation of hybrid work and initiatives by its firms to improve energy efficiency. It aims to be using 100% renewable energy by 2030.
KPMG says another way it's working to reduce its carbon footprint is through its client work. The firm invests over $1 million across several of its firms in World Wildlife Fund conservation and nature restoration projects, and buys credits from
"We are striving to take an integrated and coordinated approach across our KPMG firms to reduce our impacts and develop the most sustainable footprint possible," John McCalla-Leacy, head of global ESG at KPMG International, said in the report. "We also want to maximize our impact by helping clients on their decarbonization journeys — which bring not only risk but huge opportunity. We're acting ourselves and helping others act — we are all in it together as we move along this path."
However, the firm has been criticized for touting itself as a global sustainability leader while continuing to serve companies accused of deforestation and illegal logging, according to
The impact report also covers KPMG's progress across principles of governance, people and prosperity.
