KPMG working on tackling decarbonisation goals
March 6, 2023
KPMG has partnered with four other organisations, through the KPMG ASEAN Decarbonisation Hub, to equip businesses in the region to meet their sustainability goals.
Through this partnership, businesses in the region will be able to “plug-and-play” decarbonisation solutions as they undertake ESG transformation towards meeting net zero goals. They will also be able to raise green financing, gain credible accreditations and certifications, and leverage digital tools for cost effective growth. A major focus of the partnership will be to facilitate low carbon and energy efficiency project origination, structuring, financing and implementations.
The four partnering organisations are Bureau Veritas (BV), Energy Institute (EI), Maybank Singapore (Maybank) and two research institutes at the National University of Singapore (NUS) – Energy Studies Institute (ESI) and Sustainable and Green Finance Institute (SGFIN). These four organisations have each signed a Memorandum of Understanding with KPMG to provide their complementary expertise to catalyse businesses’ decarbonisation goals via the Hub.
KPMG and the four partnering organisations will work together to help businesses manage the impact of climate change. Leveraging their complementary skills, they will provide businesses with customised plans to achieve their net-zero goals, including creating a carbon reduction roadmap and supporting implementation. The companies will also receive tools and solutions to pilot environment-friendly projects that offer economic incentives for reducing carbon emissions. In addition, Maybank will provide sustainable financing to encourage a strong pipeline of decarbonisation projects – this will set a precedent for successful use cases across the decarbonisation value chain, thereby increasing financing for similar projects in the region.
The Hub will also be running industry workshops in collaboration with the Energy Institute and develop thought leadership and research in the decarbonisation space together with NUS. Some of the capability development and transformation tools slated to be covered include energy efficiency across the value chain, electrification of vehicles, greening of buildings, renewable energy integration, smart grids and carbon sequestration, among others. KPMG plans to collaborate with more organisations in the future, via the ASEAN Decarbonisation Hub, to provide businesses with greater capabilities and expertise that can address their decarbonisation requirements.
KPMG Singapore partner and head of KPMG ESG, Sharad Somani, said: “As businesses strive to achieve net-zero commitments, they must develop implementable plans and document their carbon footprint through climate accounting infrastructure to demonstrate progress. Unfortunately, not all companies are equipped to do so. To successfully tackle climate change, collaboration is essential. That’s why KPMG created the ASEAN Decarbonisation Hub – to bring together organisations with complementary skills, with the shared goal of net-zero emissions – which we are seeing in this collaborative alliance with Bureau Veritas, Energy Institute, Maybank and the National University of Singapore. KPMG is also expanding the tools, financing and access to expertise for both public and private sectors to help build resilience and reach sustainability objectives during uncertain economic conditions – all in pursuit of achieving net-zero emissions.”
[The Accountant Online]