April 2023 recap: Climate action by everyone, everywhere, all at once

Climbing temperatures, retreating ice, record sea levels and rising emissions — the signs and science are clear. Our planet is in a state of climate emergency, and it will take everyone, everywhere, all at once to drive change.?

From governments to regulators, businesses to individuals, everyone has a part to play. And seemingly small changes in everyday attitudes, behaviour and practices will have a major bearing on the world’s ability to restore balance to Earth’s health and resources.

Learn how you can make a big difference through small actions, like reducing plastic use and prioritising ESG , and explore ways in which KPMG is helping to shape a more sustainable and resilient future in this issue of KPMG Insights.?

1. Reflections on Davos 2023?

This year, thousands of public and private-sector leaders from over a hundred countries gathered by the snow-capped peaks of Davos, Switzerland, to discuss pressing issues surrounding energy, social equity and climate change at the World Economic Forum (WEF).?

A strategic partner of the WEF, KPMG works on a number of projects to tackle significant global challenges through public-private collaboration. Our global organisation brings deep expertise to major issues affecting regions and industries, and shares discussions and insights to drive change and encourage action.?

Among the attendees at this year’s five-day event was KPMG in Singapore’s Cherine Fok, Partner, KPMG ESG, who shared key takeaways and insights from the Forum on supply chain and energy security, including implications of global tax and regulatory developments on Singapore businesses.?

Read Cherine’s reflections on Davos 2023 here.

2. The case for ESG-led legal functions

As environmental, social and governance (ESG) matters move up corporate agendas, several factors are making legal considerations arising from ESG even more acute.?

From legal liability and reporting standards to climate change adaptation and diversity and inclusion issues, the race is on for legal professionals to help develop the right policies across functions and develop governance frameworks for organisations to meet their sustainability goals.

How can in-house legal teams enable enterprises to understand ESG risks and embed value across the business??

Read our report to find out .

3. Collaborating for our climate

With the world hurtling towards irreversible climate breakdown, businesses across the globe are facing increasing pressure to reduce their carbon footprint and embrace sustainable practices.

To help businesses in the region meet their sustainability goals, KPMG in Singapore has partnered four organisations through the ASEAN Decarbonisation Hub with a focus on facilitating low-carbon and energy efficiency project origination, structuring, financing and implementation.?

The KPMG ASEAN Decarbonisation Hub helps to provide pathways and solutions for decarbonisation by working with governments and corporate sectors to create sustainable financing models and drive energy transition in the region.

“To successfully tackle climate change, collaboration is essential,” shared Sharad Somani, Partner, Head of KPMG ESG, KPMG in Singapore. “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.”

Read more about our collaboration here.