KPMG IMPACT brings together global expertise to build sustainable and resilient future
KUCHING: As the world begins to emerge into a new reality and move steadily towards economic recovery, KPMG International has launched KPMG IMPACT, a global initiative which brings together the firm’s deep expertise and knowledge from around the world to help businesses, governments, and other organisations address pressing environmental, societal and governance ( ESG) issues.
“The ESG and Sustainability agenda has never been more important, and Covid- 19 has only dialed up the urgency for ESG issues to be taken seriously,” KPMG in Malaysia managing partner Datuk Johan Idris said.
“What this global pandemic has done is show us the value of resilience over efficiency and the need to embed a real ‘ purpose’ in the company’s blueprint.”
“Business leaders are now challenged to reset and face the new reality with a greater focus on restructuring their businesses for a resilient and sustainable future.
“The time to act is now, and KPMG IMPACT presents an opportunity for us to answer this challenge and support companies in embedding this agenda within the heart of their business.”
The Malaysian arm of this initiative will be led by KPMG’s Governance and Sustainability in Malaysia head Kasturi Nathan.
“I’m thrilled to be leading
KPMG IMPACT for the country at such a pivotal time. Covid- 19 has certainly been a wakeup call for corporations because it has demonstrated that skin deep ESG reporting is no longer fit for purpose,” Nathan said.
“Investors, bankers and their customers are now demanding businesses to improve their ESG practices and will increasingly be asking for companies to be accountable for their business practices.
“Hence, it is essential that the Board and its management team take concrete steps to integrate ESG into their decision- making process and their business models.”
KPMG IMPACT will provide organisations with tools and methodologies to measure and implement appropriate actions to mitigate critical issues and to work towards real and lasting positive impact.
According to Nathan, having ESG firmly entrenched in the company’s strategies can make a difference between longterm survival or foreclosure.
“As countries and companies slowly make their way towards recovery, investors are ever more determined today to only channel their funds towards companies that can demonstrate resilience and growth.
“If that’s not enough to convince companies to take ESG seriously, then nothing will. And the repercussions of underestimating these risks will most certainly be enduring,” Nathan added.