Material issues
KPMG has a diverse group of stakeholders, including our people, clients, suppliers, the media, government & regulatory bodies, general public and other users of financial information, as well as investors, partners, and communities (NGOs, non-profits, universities).
Sustainability encompasses a wide range of topics and interests. As part of our methodology, we are in constant contact with our stakeholders to shape our actions and strategy. Our dialogue fundamentally covers concerns, relevant topics for KPMG in Belgium to address and expectations, which form the backbone of our policies and decisions.
Based on stakeholder input, in 2016, we conducted our first materiality analysis with a focus on stakeholder surveys and interviews. This was based on the Global Reporting Initiative (GRI) G4 guidelines.
In 2020, we reviewed and updated this analysis. We started from the list of relevant topics from the previous analysis in 2016. We then adjusted topics and definitions, based on media analysis and peer reviews.
In 2024, we will undertake a double materiality analysis for KPMG in Belgium as part of our preparations for the Corporate Sustainability Reporting Directive (CSRD).
The issues that are considered most material to our stakeholders and our organization helped us develop our Impact Plan. As a result, we have prioritized the following four areas: People, Prosperity, Planet and Philanthropy. In Our Impact Plan, we affirm our commitments to addressing these material issues, with transparent reporting on progress.
In drawing up our strategy and our four pillars, we also looked at the Sustainable Development Goals and selected those that are most relevant to KPMG in Belgium:
All organizations are built on people, which means that how we establish relationships, trust, communicate and look out for one another determines our success. That’s why our focus on people is a core priority at all times – whether it concerns our people, the people who work for our clients and suppliers, or our wider communities.
We understand that the skills, knowledge, and capabilities of our people are central to their success and growth. We offer learning and development opportunities at all levels, providing the best development experience to attract, develop, and retain the workforce of the future.
To create opportunities for themselves and others, our people need to be at their best, both physically and mentally. We want to create a workplace culture that promotes and supports our people‘s overall well-being, both professionally and personally.
We strongly believe that a diverse working environment and an inclusive culture adds to the sense of belonging that we all need and strive for. We want to make sure that everyone at KPMG can be their true, authentic selves. By embracing our people’s differences and acting with an open mindset in every situation, we build trust, foster growth, innovation, and help to improve everyone’s well-being.
As evidenced in the materiality matrix on page 12, environmental topics are less material for KPMG in Belgium. Nevertheless, given that climate change poses an imminent risk to society and business, we realize that we should all take immediate action today, independent of the sector in which we operate. Therefore, we decided that planet should be an integral part of Our Impact Plan (ESG strategy). We are committed to driving a culture of sustainable practices, within our firm, our supply chain, and beyond, to help ensure a healthy planet for generations to come.
Decarbonization is one of the most critical pillars of any approach to tackle climate effects, protect our environment and our overall well-being. At KPMG, we firmly believe that we should lead by example, taking actions that are rooted in evidence, with realistic, measurable timelines to achieve our goals. Decarbonization efforts are a core priority for KPMG in Belgium, with immediate and concrete steps we can take towards achieving the global 1.5°C science-based target.
Taking a circular approach to resource consumption is one of the most efficient ways to improve resource efficiency and reduce waste. At KPMG, we continue to monitor and improve our recycling processes and try to further reduce waste in all of our offices.
Water is a precious resource that needs to be used thoughtfully. We are always looking for new ways to improve the efficiency of our water usage in all our KPMG offices in Belgium. To widen our impact, we also work with our clients and government to optimize water management and to reduce the impact of drought.
For a professional service firm like KPMG, focusing on prosperity means impacting society through our service expertise and helping our clients find solutions that combine positive societal values with good business sense. By advising our clients on more sustainable ways to operate and supporting them in their ESG transitions, we help accelerate change across various business sectors to benefit society.
We focus on purposeful business, supported by our values. We have a fundamental commitment to serve the public interest and build trust. Everything we do has to be underpinned by objectivity, independence, ethics, and integrity. This applies to our commitments to leading our professions in audit quality, driving responsible tax practices, and delivering the highest quality work to advisory clients. We are continuously investing in technology and innovation to meet our stakeholders’ expectations and growth objectives.
Philanthropy means promoting and supporting the welfare of others, looking beyond our organization to find ways to contribute to the wider communities in which we live and work. It means understanding interdependence, purposefully making connections with others, and applying our resources to help solve problems affecting our society.
We’re strongly committed to having a positive impact on the communities we serve. We’re investing in a wide range of social initiatives with an emphasis on education and health, such as Kom op tegen Kanker, YouthStart and MyMachine. Philanthropy sits at the heart of the initiatives we‘ve chosen. As a firm of 2,000 people strong, we commited to collectively contributing 3,750 hours of volunteering per year, starting in 2022.
