RVBA-KPMGConsulting

KPMG — in detail

Full extracted data, every event in the company's history we've captured, and (soon) external news. The full ratios diagnostic with peer benchmarks lives at /ratios.

Reference sources (4/5)

Source documents
Recent disclosure
Multi-year metrics
Targets
Certifications

External news

No ESG-relevant news ingested yet for this company. Run python -m pipeline.news_gdelt to backfill. Sourced from GDELT 2.0 (3-month trailing window).

Data by year· every metric + key events per year

Each year shows the firm's reported metrics on the left and the most material events on the right. Up to 10 events per year; the full event log is one click further.

2025

2024

annual report ↗

Climate · carbon footprint (tCO2e)

Scope 1	1,154
Scope 2 (market-based)	0
Scope 3	35,582
Cat 3 · Fuel + energy	4,258
Cat 5 · Waste in operations	7
Cat 6 · Business travel	23,404
Cat 7 · Employee commuting	2,397
Gross carbon footprint	36,737
Net carbon footprint	36,737

Energy (kWh)

Electricity	19.4M
Fuel (stationary + mobile)	5.9M
Total energy	28.8M
Renewable electricity %	100%

Governance

esg linked executive pay yn	1
audit assurance climate levelⓘ	1

P&L highlights (USD)

Headcount (FTE)	16,673people
Revenue	3B
Total operating expenses	(2.6B)

Balance sheet highlights (USD)

Property, plant & equipment	444M
Right-of-use (leased) assets	348M
Total assets	1.8B
Total debt	412M
Cash & equivalents	201M

Events 2024· 12

Primary: Fleet electrification — 100% electric company cars by end of 2030, interim milestone 2027

KPMG UK has had a CO2e cap in place for new company cars for many years. In FY24 a new interim milestone was introduced to phase out all existing petrol and diesel cars and replace them with hybrid or electric cars by September 2027, with a full transition to 100% electric company cars by end of 2030. Interim milestones to phase out diesel/petrol fleet up to 2030 have been established, and an EV charging point roll-out is underway across KPMG UK sites.

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Dependent: Responsible Supply Chain Programme — 189 suppliers engaged, 25% Scope 3 reduction target

KPMG UK has operated a Responsible Supply Chain Programme since FY12, engaging top suppliers to manage the carbon impact of its supply chain. The SBTi-approved target is to reduce absolute Scope 3 supply chain emissions by 25% by 2030 from a 2017 baseline, engaging 100+ suppliers. As of FY24, 189 suppliers have been engaged on climate. The new Responsible Supply Chain Programme launched in FY24 includes two strategic pillars: 'Climate and Decarbonisation' and 'Nature, Waste and Lifecycle Management'. Training sessions on Reducing Carbon Emissions and Setting Science-Based Targets have been delivered to suppliers, and CDP disclosure is facilitated for key suppliers.

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Primary: Internal Carbon Price (ICP) to fund decarbonisation investments across buildings and technology

An Internal Carbon Price was first set in FY22, designed to drive positive decision-making on business travel and utilities consumption and to fund emissions reduction initiatives. In FY24 KPMG UK conducted a review of ICP terms of reference and investment principles to expand the scope of projects that can be funded via the ICP, ensuring it continues to support the firm's commitment to become a net zero business. The ICP is discussed and reviewed by the Environmental Working Group and Environment Steering Committee, with investments reported to the Operations Executive.

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Fugitive emissions and waste emissions added to GHG inventory for first time

FY24 is the first year KPMG UK is reporting fugitive emissions (F-gas) as part of Scope 1, and emissions from waste generated in operations as part of Scope 3. Comparative data has been recalculated to include these metrics. Fugitive emissions in FY24 were 48,677 kgCO2e.

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SBTi re-baselining underway for new Net Zero target validation by early 2025

KPMG UK is currently modelling its roadmap with a view to receiving validation for its re-baselined near-term target and new Net Zero target from the Science-based Target Initiative by early 2025, as per the SBTi five-year re-baselining requirement.

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Scope 1 natural gas restated upward due to common parts consumption discovery

As part of ongoing engagement with a third-party supplier, KPMG discovered a repeated error in a gas meter reading since 2015 at one of its properties, causing overstatement of natural gas consumption. Common parts consumption data was incorporated, resulting in an overall increase in Scope 1 Natural Gas consumption and associated emissions in 2021 and 2022 comparatives being recalculated.

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Primary: Business travel reduction via hybrid working, Smart Travel Policy, and rail-mandate

KPMG UK's hybrid working model is described as a purposeful choice to reduce travel demand. The firm introduced a Smart Travel Policy encouraging use of rail over more carbon-intensive modes, added additional rail-mandated routes, and supports colleagues to make sustainable travel choices. Business travel emissions increased 4.7% in FY24 due to targeted international travel needs, but remain 40% lower than pre-pandemic FY19 levels. The Internal Carbon Price (ICP), introduced in FY22, is designed to drive positive decision-making on business travel and utilities consumption.

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Limited assurance maintained by Grant Thornton UK LLP over key climate metrics

Grant Thornton UK LLP (also the financial auditor) was engaged to provide limited assurance over key SECR and GHG data points marked with ‡ in the carbon disclosure table. This is KPMG UK's second Climate-related Financial Disclosure report.

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Proposed merger with Swiss KPMG firm under discussion post year-end

Discussions ongoing with Swiss KPMG firm to explore combining into one firm. A vote by Equity partners expected mid-2024, with potential effect from 1 October 2024. No commitment made; not reflected in financial statements.

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100% renewable electricity via REGOs; on-site solar; gas reduction roadmap to 2030

KPMG UK has achieved its target of 100% renewable electricity, with all electricity now backed by Renewable Energy Guarantees of Origin (REGOs). The firm continues to purchase renewable energy for its managed estate and purchases additional Guarantees of Origin for landlord-managed offices. 378 solar panels at the Canary Wharf head office have generated over 107,500 kWh of renewable energy since October 2024. A gas reduction roadmap to 2030 is being pursued through boiler efficiency upgrades, building management system improvements, and ongoing review of renewable gas options through the Environmental Working Group. The target is 100% electric company cars by end of 2030.

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2023

annual report ↗

Climate · carbon footprint (tCO2e)

Scope 1	1,618
Scope 2 (market-based)	0
Scope 3	26,995
Cat 1 · Purchased goods	50,018
Cat 3 · Fuel + energy	4,261
Cat 4 · Upstream transport	1,248
Cat 5 · Waste in operations	25
Cat 6 · Business travel	22,364
Cat 7 · Employee commuting	1,976
Gross carbon footprint	28,612
Net carbon footprint	28,612

Energy (kWh)

Electricity	20.7M
Fuel (stationary + mobile)	8.7M
Total energy	32.7M
Renewable electricity %	100%

Governance

esg linked executive pay yn	1
audit assurance climate levelⓘ	10=none,1=limited,2=reasonable

P&L highlights (USD)

Headcount (FTE)	17,194people
Revenue	3B
Total operating expenses	(2.6B)

Balance sheet highlights (USD)

Property, plant & equipment	499M
Right-of-use (leased) assets	384M
Total assets	1.9B
Total debt	453M
Cash & equivalents	146M
Minority interest	0

Events 2023· 12

Primary: Office energy efficiency: BMS, LED upgrades, boiler finetuning

KPMG manages energy consumption through its ISO50001-certified Building Management System (BMS), controlling key engineering equipment. FY2023 projects included ongoing LED lighting upgrades, boiler finetuning, and a pilot of improved-efficiency air handling units at Canary Wharf. Modified temperature controls reduced heating and cooling energy. Gas consumption decreased by 10% year-on-year, while the firm targets switching to renewable gas across its estate by 2030.

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Business travel emissions increased sharply in FY2023 due to return of travel

Air travel emissions rose from 7,224,519 kgCO2e in FY2022 to 20,838,464 kgCO2e in FY2023 due to lifting of COVID-19 travel restrictions and return of client-facing travel, though still below pre-pandemic levels.

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Primary: Business travel reduction via hybrid working and greening travel strategy

KPMG's hybrid working model enables colleagues to split time between home, office and client sites, reducing the need for commuting and some business travel. The firm uses Microsoft Teams for remote collaboration and supports colleagues through a greening travel strategy. An Office Concierge app launched in 2022 tracks transport mode and distance for commuting. Despite a sharp rebound in travel in FY2023 (air travel up to 20,838 tCO2e), overall travel remains below pre-pandemic levels. The Internal Carbon Price implemented in 2022 is designed to drive conscious decisions about business travel.

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Dependent: Supply chain decarbonisation: Sustainable Procurement Programme with 161 suppliers

KPMG has operated a Sustainable Procurement Programme for over a decade, engaging top suppliers to manage carbon impact across the supply chain. In 2021 the programme was expanded to more than double the number of suppliers engaged, and by FY2023, 161 suppliers are engaged on climate. The firm has seen a 55% decrease in supply chain emissions since 2019. The SBTi near-term target includes a 25% reduction in Scope 3 supply chain emissions by 2030 (2017 baseline). The Sustainable Procurement Steering Committee met three times in FY23 to oversee climate-related supplier strategy.

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Primary: Internal Carbon Price to drive capital allocation for emissions reduction

KPMG implemented an Internal Carbon Price (ICP) in 2022, setting a price per tonne of carbon emitted to fund emissions reduction initiatives. The ICP is used to drive positive decision-making in business travel and utilities consumption, and investment in client services, training and operational efficiencies. The Environmental Management Group (EMG) examines ICP investments as part of its eight annual meetings. The specific price per tonne is not publicly disclosed in this report.

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Spend-based methodology adopted for Purchased Goods & Services Scope 3

Scope 3 Purchased Goods and Services data has been re-stated as a result of reviewing and refining the methodology for spend-based calculations, using the latest guidance from CDP. This has resulted in higher emissions being calculated for prior years.

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100% renewable electricity via REGOs; solar installation at Canary Wharf

KPMG procures renewable electricity for its managed estate and purchases additional Guarantees of Origin (REGOs) from renewable sources to cover all electricity consumption, including landlord-managed offices not already on REGO-backed supply from April 2022. In FY2023, 100% of electricity consumed is now backed by REGOs, achieving the firm's 2024 target early. Solar panels were installed at the Canary Wharf head office in Autumn 2023, expected to save 160,000 kWh annually. The firm is also targeting 100% renewable gas across its estate by 2030, reducing gas use through boiler upgrades and building management system improvements.

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Achieved 100% renewable electricity target ahead of 2024 deadline

KPMG achieved its target of procuring 100% renewable electricity across its estate, with all electricity consumption backed by REGOs. Solar panels also installed at Canary Wharf expected to save 160,000 kWh annually.

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All staff employment contracts transferred from KPMG UK Limited to KPMG LLP

On 1 April 2023, all staff employment contracts were transferred from KPMG UK Limited (subsidiary) to KPMG LLP (the partnership). KPMG UK Limited has since been dormant. This affects comparability of staff-related disclosures.

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No carbon offsets or removals used; engineers given 3-year payback mechanism

KPMG explicitly states it does not use carbon offsets to achieve its emissions reductions. Instead, the firm focuses on operational reductions through efficiency measures, targeted investments and strategic policy changes. Engineers benefit from an auto-approval mechanism for projects with a three-year payback, enabling capital allocation to energy-saving projects across the estate. No mention of DAC, BECCS, biochar, or other removal credits is made in the report.

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2022

annual report ↗

Climate · carbon footprint (tCO2e)

Scope 1	1,743
Scope 2 (market-based)	81
Scope 3	9,798
Cat 1 · Purchased goods	58,151
Cat 3 · Fuel + energy	1,682
Cat 6 · Business travel	8,115
Gross carbon footprint	11,622
Net carbon footprint	11,622

Energy (kWh)

Electricity	19.9M
Fuel (stationary + mobile)	9.4M
Total energy	31.1M
Renewable electricity %	99%

P&L highlights (USD)

Headcount (FTE)	16,425people
Revenue	2.7B
Total operating expenses	(2B)

Balance sheet highlights (USD)

Property, plant & equipment	498M
Right-of-use (leased) assets	379M
Total assets	2.1B
Total debt	457M
Cash & equivalents	300M
Minority interest	0

Events 2022· 10

REGO-backed renewable electricity covering 99% of consumption

KPMG purchases renewable energy for its managed estate and in FY2022 expanded its procurement of Guarantees of Origin (REGOs) from renewable sources to cover all electricity consumption within landlord-managed offices not already on REGO-backed supply from April 2022. As a result, 99% of electricity consumed is now backed by REGOs. This drove market-based Scope 2 emissions down to 80.9 tCO2e (vs 957 tCO2e in 2021). KPMG continues to engage landlords to transition to procuring REGO-backed renewable electricity themselves.

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Primary: Hybrid working model to reduce office energy and commuting emissions

KPMG's hybrid working model enables colleagues to split time between home, office and client sites, reducing total building occupancy and associated energy consumption. The firm uses collaboration technologies such as Microsoft Teams to support remote working. Whilst gas and electricity consumption increased in FY2022 as offices returned to more normal hours, the hybrid model is designed to limit the long-term growth of office energy use relative to headcount.

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Internal Carbon Price (ICP) implemented in 2022

KPMG set its first Internal Carbon Price (ICP) in 2022 to help drive a culture of climate conscious decision-making. The ICP is used to fund emissions reduction initiatives and drive decisions on business travel and utilities consumption.

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ISO 50001 recertification for Energy Management Systems

In September 2022, KPMG received recertification to ISO 50001 (Energy Management Systems). Together with ISO 14001 Environmental Management system, these support monitoring and reporting energy consumption and total environmental impact.

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Post year-end: acquisition of 50% share of Acceleris Capital Limited (Joint Venture)

Subsequent to year end, on 1 November 2022, the group completed the purchase of a 50% share of Acceleris Capital Limited, creating a Joint Venture.

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Acquisition of 25% non-controlling interest in Microsoft Business Solutions (KPMG Investments Malta Limited)

In November 2021, the group acquired the 25% non-controlling interest in Microsoft Business Solutions from KPMG Malta and KPMG Netherlands for £6 million total consideration. The acquisition had a £10 million impact on members' other reserves.

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Expanded REGO-backed renewable electricity procurement to cover landlord-managed offices

KPMG purchased additional Guarantees of Origin from renewable sources to cover all electricity consumption within landlord managed offices that weren't already procuring REGO-backed renewable electricity from April 2022, resulting in 99% of electricity backed by REGOs and market-based Scope 2 emissions falling from 957 tCO2e to 81 tCO2e.

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Primary: Office energy efficiency — boiler upgrades, LED lighting, and pump improvements

KPMG focused on reducing gas consumption (one of its highest carbon impacts) by upgrading boilers at its Canary Wharf Head Office to improve efficiency. Continued LED lighting upgrades at Canary Wharf and Birmingham offices, and installed new pumps at Leeds office to improve heating and cooling efficiency. Engineers benefit from an auto-approval mechanism for projects with a three-year payback, enabling continual improvement across the estate. These measures accompanied ISO 50001 recertification in September 2022.

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Large increase in Scope 3 emissions due to resumption of business travel post-COVID

Scope 3 emissions increased from 1,907 tCO2e (2021) to 9,798 tCO2e (2022) — a ~413% increase — driven by resumption of business travel (air, rail, car) as COVID restrictions lifted. Air travel emissions rose from 1,033 tCO2e to 7,225 tCO2e.

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Dependent: Greening travel strategy and individual traveller carbon dashboards

KPMG launched individual traveller dashboards in FY2022, allowing colleagues to see the carbon impact of their own travel and compare against peers. The firm supports colleagues in making sustainable travel choices through its greening travel strategy. Business travel (air, car, rail) is the dominant Scope 3 category; Scope 3 emissions rose sharply in FY2022 (9,798 tCO2e vs 1,908 tCO2e in 2021) as COVID travel restrictions were lifted, highlighting the materiality of this lever.

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2021

annual report ↗

Climate · carbon footprint (tCO2e)

Scope 1	1,583
Scope 2 (market-based)	957
Scope 3	1,908
Cat 1 · Purchased goods	39,973
Cat 3 · Fuel + energy	737
Cat 6 · Business travel	1,171
Gross carbon footprint	4,448
Net carbon footprint	4,448

Energy (kWh)

Electricity	16.8M
Fuel (stationary + mobile)	8.5M
Renewable electricity %	82%

P&L highlights (USD)

Headcount (FTE)	14,940people
Revenue	2.4B
Total operating expenses	(1.8B)

Balance sheet highlights (USD)

Property, plant & equipment	509M
Right-of-use (leased) assets	400M
Total assets	2.1B
Total debt	487M
Cash & equivalents	465M
Minority interest	-6M

Events 2021· 11

Significant reduction in Scope 3 business travel due to COVID-19

Business travel across all forms of transport reduced dramatically due to COVID-19, causing Scope 3 total to fall from ~17,005 tCO2e in 2020 to ~1,908 tCO2e in 2021. The firm deployed predominantly remote-working model. This is a behavioural/operational change, not a methodology change, but it materially affects year-over-year comparability.

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Primary: Office energy efficiency — LED, BMS upgrades, Air Handling Unit improvements

KPMG UK implemented energy efficiency improvements across its office estate including a Building Management System upgrade in its Leeds office, LED implementation at Canary Wharf Head Office, and upgrades to Air Handling Units. Engineers benefit from an auto-approval mechanism for projects with a three-year payback. Natural gas consumption fell from ~11.4m kWh to ~8.4m kWh and electricity from ~18.4m kWh to ~16.8m kWh year-on-year.

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Disposal of KPMG UK restructuring business

In May 2021, KPMG LLP completed the disposal of its restructuring business, resulting in the transfer of 22 partners and approximately 550 staff. Net consideration was £282 million, generating a profit on sale of £234 million.

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Re-certification to ISO14001 and ISO50001

In September 2021, KPMG received re-certification to ISO14001 (Environmental Management Systems) and holds certification to ISO50001 (Energy Management Systems), enabling more effective monitoring and reporting of energy consumption.

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Prior year disposal of KPMG restructuring business

In the prior year (FY2021), KPMG LLP completed the disposal of its restructuring business, transferring 22 partners and ~550 staff. Net consideration was £282 million, profit on disposal £234 million. Revenue from the restructuring business of £81 million is excluded from FY2022 like-for-like comparisons.

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Disposal of KPMG Crimsonwing BV (Microsoft Business Solutions Netherlands)

In November 2021, the group disposed of KPMG Crimsonwing BV, the Microsoft Business Solutions entity in the Netherlands. Group received consideration of £19 million, generating a profit on disposal of £16 million. This is distinct from the prior year disposal of the restructuring business.

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Purchasing renewable electricity via REGOs and landlord collaboration

KPMG UK purchases renewable energy for its managed estate and collaborated with landlords in leased buildings to align renewable energy procurement with Scope 1 and 2 Science-Based Targets. In 2021, 82% of the electricity consumed is purchased with Guarantees of Origin from renewable sources. The firm is engaging remaining landlords to transition to REGO-backed renewable electricity in the short-term.

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Primary: GHG measurement using GHG Protocol and BEIS conversion factors

KPMG uses GHG Protocol standards and guidance documents, applying carbon conversion factors issued annually by the UK Department for Business, Energy & Industrial Strategy (BEIS). The firm uses electronic data collection and extrapolation for data gaps. It holds ISO14001 and ISO50001 certifications to strengthen energy monitoring and reporting. SECR-compliant disclosures cover Scope 1, 2 and selected Scope 3 categories.

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Science-Based Targets adopted for Scope 1 & 2 renewable energy purchasing

KPMG UK references its Science-Based Targets in relation to Scope 1 and 2 emissions and collaborated with landlords to purchase renewable electricity. 82% of electricity consumed is from renewable sources via Guarantees of Origin.

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Headcount reduction following restructuring disposal and hybrid working

Average group headcount fell from 16,187 in 2020 to 14,940 in 2021, primarily due to the disposal of the restructuring business (~550 staff) and pensions business in prior year (~500 staff), plus general workforce adjustments.

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2020

annual report ↗

Climate · carbon footprint (tCO2e)

Scope 1	2,451
Scope 2 (market-based)	946
Scope 3	17,005
Cat 3 · Fuel + energy	2,533
Cat 6 · Business travel	14,472
Gross carbon footprint	20,403
Net carbon footprint	20,403

Energy (kWh)

Electricity	18.4M
Fuel (stationary + mobile)	12.9M
Renewable electricity %	85%

P&L highlights (USD)

Headcount (FTE)	15,806people
Revenue	2.3B
Total operating expenses	(1.6B)

Balance sheet highlights (USD)

Property, plant & equipment	584M
Right-of-use (leased) assets	455M
Total assets	1.7B
Total debt	534M
Cash & equivalents	139M
Minority interest	-5M

Events 2020· 12

85% renewable electricity via Guarantees of Origin; ISO 50001 certified

KPMG purchases 85% of its electricity consumption with Guarantees of Origin from renewable sources. The firm continues to purchase renewable energy for its managed estate and collaborates with landlords in leased buildings on renewable energy performance. ISO 50001 certification (achieved November 2019) underpins systematic energy management and identification of further renewable opportunities.

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SBTi-validated near-term targets set in FY20 (2017 baseline)

KPMG UK was first of the Big Four to set a Science-Based Target in FY20, aligned with a 1.5°C temperature scenario. Absolute targets include 100% reduction in Scope 1 & 2, and 25% reduction in Scope 3 supply chain emissions by 2030, from a 2017 baseline. The firm is currently undergoing a re-baselining exercise to validate updated targets by early 2025.

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Primary: Business travel reduction through remote collaboration technology

KPMG deployed remote collaboration technology across the firm in FY2020. In the first half of the year this reduced business travel; by the second half it became the default method of business communication. This drove a ~63% reduction in air travel emissions (from 34,957 tCO2e to 12,809 tCO2e) and total Scope 3 emissions fell from 44,557 tCO2e to 17,005 tCO2e year-on-year. The firm views remote working as both a pandemic response and a longer-term tool to reduce travel emissions.

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Disposal of KPMG UK pensions advisory business

In December 2019, KPMG LLP entered into a conditional agreement to sell its pensions advisory business. The sale completed on 2 March 2020, transferring 20 partners and approximately 500 staff. Net consideration was £128 million, profit on sale £115 million.

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Disposal of pensions advisory business completed

KPMG LLP entered a conditional agreement in December 2019 to sell its pensions advisory business. Sale completed 2 March 2020, transferring 20 partners and ~500 staff. Net consideration to KPMG was £128m; profit on disposal £115m. Revenue impact: group revenue reduced by ~£24m had disposal occurred at 1 October 2019.

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COVID-19 significantly reduced business travel emissions

COVID-19 materially reduced business travel in FY2020. Remote collaboration technology deployed in first half of year reduced travel; in second half it became the default communication method. Air travel emissions fell from 34,957 tCO2e (2019) to 12,809 tCO2e (2020), a ~63% reduction. Total Scope 3 fell from 44,557 tCO2e to 17,005 tCO2e.

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Primary: Office energy reduction through ISO 50001 and estate management

KPMG achieved ISO 50001 Energy Management System certification in November 2019, enabling systematic monitoring and reporting of energy consumption. Electricity consumption fell 20% in FY2020 due to reduced office estate use during COVID-19. Natural gas consumption was 11.35 million kWh in 2020 vs 12.03 million kWh in 2019. The firm actively manages its office estate and collaborates with landlords on renewable energy in leased buildings.

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IFRS 16 Leases adopted from 1 October 2019

KPMG LLP adopted IFRS 16 from 1 October 2019 using the modified retrospective approach. This resulted in recognition of £515m of right-of-use assets and £573m of lease liabilities at transition date. Prior year comparatives not restated. Material impact on PPE (up from £157m to £584m) and total debt.

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Electricity consumption reduced 20% due to pandemic office closures

Electricity consumption reduced 20% against 2019 due to reduced use of office estate during the pandemic. Natural gas remained broadly the same as lockdown occurred during warmer months.

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ISO 50001 Energy Management System certification achieved

In November 2019, KPMG achieved certification to ISO 50001, the standard for Energy Management Systems (EnMS). This enabled more effective monitoring and reporting of energy consumption and identification of areas for improvement.

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