Prosperity

Increase KPMG‘s impact on society through purposeful business practices

Prosperity

Our commitments

Expand KPMG’s societal and environmental impact by extending our involvement in business projects that contribute positively to both.

People of KPMG

"In 2023, we witnessed a significant shift as the Corporate Sustainability Reporting Directive (CSRD) took center-stage domestically, ushering in a new era of heightened transparency and accountability for companies. This marked a crucial turning point in the corporate landscape, with organizations increasingly recognizing the imperative of disclosing their sustainability practices and impacts. As a key regulatory driver, the CSRD is spurring companies to re-evaluate their reporting strategies, emphasizing the need for comprehensive and accurate disclosures to meet the evolving expectations of stakeholders and regulators alike.

Concurrently, there was a notable surge in engagement by board members who, recognizing the transformative power of

Environmental, Social, and Governance (ESG) and sustainability considerations, delved deeper into understanding what ESG meant and could mean for the future of their organizations.

The greater uptake by board members signified a strategic shift - leaders were acknowledging that ESG had become integral to shaping the long-term resilience and success of their companies. This cultural shift at the leadership level laid the foundation for a more holistic integration of sustainability principles into core business strategies.

As companies embraced this paradigm shift, we also noticed increased awareness of ESG regulatory evolutions. Beyond the CSRD, businesses vigilantly tracking and assessing other ESG regulatory initiatives, such as the Corporate Sustainability Due Diligence Directive (CSDDD), the Carbon Border Adjustment Mechanism (CBAM), and the European Union‘s Regulation on Deforestation-free Products (EUDR). This proactive stance is not merely about compliance but reflects a commitment to staying ahead of the curve, understanding that navigating the complex landscape of ESG regulations is integral to fostering resilience, maintaining investor confidence, and driving sustainable business practices in an ever-evolving global market."

Michael Wagemans,
Partner & Head of Sustainability, KPMG in Belgium

Prosperity

Our commitments in action

Making an impact through our services

As a diverse professional services firm, our aim is to make a broad impact on prosperity through a comprehensive approach and ambitious goals supported by market forces and research.

Committing to greater prosperity is all about increasing KPMG’s impact on society through purposeful business practices. We are well-versed in identifying both internal and external impact opportunities that contribute to positive outcomes.

Internally, we actively work towards reducing our emissions and other negative impacts on the planet, through circular practices, and better waste and water management. Equally, for society, we support the well-being of those who work for and with us, and contribute time and resources to the communities with whom we interact, through volunteering, fundraising, and awareness-raising activities.

Externally, our ultimate goal is to deliver our clients the highest quality services and to create trust in the market. Through quality audit, responsible tax practices, and impact-oriented advisory services, KPMG fosters fair, transparent, and sustainable business. In addition, we diligently pursue advising clients on sustainable practices and providing support to help them design, implement, and manage their ESG transitions.

Aligned with our core values - Integrity, Courage, Excellence, Together, and For Better - we drive positive change for a more prosperous society and are always open to partnering with others who share these principles.

Audit quality

We acknowledge the great responsibility we have, both towards our clients and regarding the public interest. Audit quality is - and will remain – a key strategic imperative for us. In this context, we have focused strongly on enhancing the consistency and robustness of our system of quality management to meet the requirements of ISQM 1.

Trust in the quality and the true and fair view of financial statements is one of the cornerstones of decision-making in the capital markets. It is the bedrock of public trust.

We believe the same level of professionalism, quality, consistency, and trust should apply to ESG reporting as to financial data. We are making significant investments in putting ESG at the heart of our organization. For example, we use a cloud-based, ESG assurance workflow that is compliant with the revised assurance methodology. We are also upskilling our people and building teams that are fluent in ESG assurance reporting to help our clients meet the goals necessary to develop a more sustainable future.

It remains our vision to be the clear choice for our clients, our stakeholders, our people, and society at large, by remaining committed to our core strengths and values: quality, innovation, ethics, independence, and integrity.

Responsible tax
We require all KPMG people to act lawfully and with integrity in dealing with tax authorities and our clients, and we aim to be fully compliant with all relevant requirements. Our principles for a Responsible Tax Practice bring to life our values in a way that is meaningful for the everyday situations we face as tax professionals:

Be supported by a valid basis in law;

Be based on the assumption that all material facts will be known to tax authorities and all relevant disclosure requirements are properly made;

Be tailored to the particular circumstances of our clients, address any requirements of substance and purpose, and consider the intention of the legislators;

Clearly explain the technical merits and sustainability of relevant options available to our clients; and

Consider any reputational risk and the impact on stakeholders and communities where these are practical to assess.

As well as delivering a range of tax compliance and consulting services that align with our own responsible tax principles, we deliver targeted approaches to help tax leaders embrace their role in the broader ESG agenda through our tax impact reporting methodology. We also participate in the KPMG Global Responsible Tax Project, which is built on two core pillars:

Engaging in productive debate: We believe there is a need for the world to have a sustained, inclusive, and coherent discussion about the key issues that are affecting and shaping taxation in the modern world. We recognize this is not easy terrain and believe diverse voices are needed.

Convening diverse voices: Through the project, we bring together a truly diverse community of stakeholders – from academics to activists, to businesses, to non-governmental organizations – to have the open discussions necessary to help inform the tax debate.

Our step-by-step approach to sustainable business
At KPMG, we have a high-level approach that helps our clients act on sustainable challenges and opportunities. We can summarize the approach in four steps:

Which step of the sustainable business approach are you currently focused on?

Strategy
Implementaion
Reporting
Assurance

Client testimonials

Arvesta

KPMG in Belgium played a pivotal role in guiding Arvesta - the full-service partner for farmers and horticulturists - through every phase of their sustainability journey, spanning strategy development, materiality analysis, communication, and reporting. Through dedicated efforts in personalized communication, we successfully equipped them for sustainable action and garnered full support from their entire workforce.

Concretely, we established a framework that served as the backbone for Arvesta’s work. This framework not only added structure to their ongoing initiatives but also functioned as a guiding compass for their collective vision, ensuring alignment with laws and regulations. Furthermore, KPMG in Belgium helped Arvesta develop a customized dashboard to monitor their key priorities effectively.

Client testimonials

Bekaert

In 2021, Bekaert embarked on a strategic restructuring of its IT department, known as Advanced Digital Solutions (ADS), aimed at aligning it with the company‘s digital aspirations while maintaining operational excellence. The challenge was to elevate the maturity of internal IT processes, placing the customer at the forefront of the strategy, while also fostering agility to drive innovation and support business growth. To address these objectives, Bekaert worked with KPMG in Belgium, leveraging our expertise and Connected Enterprise methodology to assess their current IT maturity levels, align them with their digital goals, and develop a robust operating model with associated governance and processes.

Through the implementation of KPMG‘s Connected Enterprise approach, Bekaert successfully enhanced their decision-making capabilities and targeted investments by prioritizing customer-centric values and ensuring the alignment of capabilities with their company‘s digital transformation agenda. This collaborative effort with KPMG in Belgium resulted in the creation of a comprehensive IT strategy and governance framework, positioning Bekaert for success in its digital transformation journey.

Client testimonials

Amcor

Amcor - a global leader in developing and producing high-quality, responsible packaging solutions – was the first packaging company globally to commit to making all its packaging recyclable or reusable by 2025. To help them meet their objectives, KPMG in Belgium assisted them in creating a subsidy route within their innovation roadmap, acquainting them with the intricate landscape of funding opportunities, and identifying eligible projects.

After outlining the opportunities, we collaborated with Amcor to pursue these subsidies, providing comprehensive assistance throughout the submission and subsequent administrative follow-up. We also served as their strategic sounding board, posing challenging questions to enhance the business case, refine the approach, and improve the overall work plan. Thanks to our help, Amcor was able to accelerate their progress towards developing and implementing innovative packaging solutions to contribute to a more sustainable future.

Client testimonials

Water-link

Water-link is committed to advancing water security and aims to lead in global, data-driven infrastructure management. Recognizing the importance of reliable data, the company emphasizes the need for correct and efficient data capture, management, and utilization. To achieve this goal, Water-link partnered with KPMG Lighthouse, the KPMG Center of Excellence for Data Analytics & Intelligent Automation. This collaboration marked a significant step in Water-link’s journey toward becoming a more data-driven organization, as they navigated the challenges posed by digitization and increasing data volumes.

KPMG in Belgium helped Water-link define a concrete roadmap for their data transformation, establish a well-organized governance structure, appoint data owners and stewards, and develop a blueprint for their data operating model. Emphasizing the importance of cultivating a "data mindset" among employees, they initiated small, impactful activities to increase data literacy and drive cultural change within their organization. With KPMG’s support, Water-link laid the groundwork for a successful transition to a data-driven future, where data strategy and governance became tangible elements embraced by all departments.

Client testimonials

Proximus

For years, the largest of the three telecommunications companies in Belgium – Proximus – has been dedicated to fearlessly constructing a connected world that promotes trust among people, fostering the flourishing of society. Understanding the impact of the EU’s Corporate Sustainability Reporting Directive (CSRD), they needed KPMG in Belgium’s help to prepare for the new reporting requirements. Proximus had the right mindset and wanted to use this opportunity to integrate long-term sustainability into their business practices.

KPMG in Belgium helped Proximus develop a systematic and robust method to improve the efficiency of their sustainability performance. This enabled them to identify the specific relevance of the European Sustainability Reporting Standards and, while some were already thoroughly addressed, concentrate their efforts on creating a comprehensive implementation roadmap to seamlessly integrate all relevant standards into their business processes and facilitate accurate reporting.

ESG District – Making the Change

In September 2023, we launched ESG District, an initiative from De Tijd/L’Echo, KPMG, and BNP Paribas Fortis. This expert platform brings together expertise, exciting cases, sustainability reports, and an advanced artificial intelligence (AI) assistant to provide companies with inspiration and valuable insights on Environmental, Social, and Governance (ESG).

Sustainability has transitioned from a peripheral concern, connected to corporate social responsibility (CSR), to a fundamental cornerstone for ensuring long-term growth. This is why all of us, especially businesses, should invest in sustainable business practices. It is time to act, and we are here to guide our clients in the right direction.

Through ESG District, we will feature expert articles, combined with relevant client testimonials, in which our specialists discuss ESG topics such as the Corporate Sustainability Reporting Directive (CSRD), the Carbon Border Adjustment Mechanism (CBAM), Double Materiality Assessment (DMA), Data and Technology for ESG reporting, and others. Through this initiative, we want to actively share our expertise and create awareness about the importance of ESG issues, signal a sense of urgency, and motivate the wider business community to act today.

Discover our expert insights!

Knowledge sharing

To contribute to debates on complex subjects that we deal with in the business world, we periodically publish a vast repertoire of information, created by the KPMG network. Publishing thought leaderships and other material highlighting our expertise allows us to deliver service excellence and valuable information to our customers through different channels.