News
KPMG to Spend $1.5bn to Accelerate Solutions for Environmental, Social, Governance Issues
KPMG International Limited, an Anglo-Dutch multinational professional services network has announced that it plans to spend more than $1.5 billion over the next three years specifically to focus on the Environmental, Social and Governance (ESG) change agenda.
A statement by the group said the collective investment would focus on training and expanding KPMG’s global workforce, harnessing data, accelerating the development of new technologies, and driving action through partnerships, alliances and advocacy.
“The ESG strategy is designed to support KPMG firms’ clients in making a positive difference. Importantly, this strategy is underpinned by KPMG’s recognition of its responsibility to improve its impact on the world and the ESG commitments outlined in KPMG: Our Impact Plan, “KPMG said.
The statement also noted that the key to the transformation would be embedding ESG in the organisation and client solutions to drive measurable change.
KPMG said the new global ESG strategy focuses on five priority areas such as solutions, talents, supporting developing nations, collaborations and alliances and others.
In his comments, the Global Chairman, KPMG, Bill Thomas, noted that what worked for the company and other businesses in the past would not work in the future.
He explained that the world faces crises on multiple fronts, which is why they are putting the environmental, social and governance agenda at the heart of everything they do.
He further remarked that ESG would be the watermark running through their global organization; from empowering people to become agents of positive change, to the services with clients and partnerships with critical stakeholders.
He added that KPMG has the global scale, expertise, technology, and relationships that give them the ability and responsibility to use their position to provide solutions and services to overcome the challenges facing our planet and society.
The Global Head of ESG, Richard Threlfall, said: “It is incumbent on all of us as businesses and as individuals to play our part in tackling the challenges that threaten the future of our planet and the quality of life of people throughout the world. Our global ESG strategy will help equip our people to make a difference, as well as mobilize data and technology in support.
But we also recognize that the changes society is demanding will be realized most effectively through open collaboration based on trust, and we will continue to seek out opportunities to partner with other organizations that share our sense of purpose to enable a better future for everyone, everywhere.”
Jane Lawrie, global head of Corporate Affairs, KPMG, commented: “We know that KPMG and our profession have an important and pressing opportunity to accelerate the change needed for a sustainable future; that change starts with us. Our Impact Plan, launched in January, lays out how we intend to change our actions and commits to report against our progress so we can be held to account.
“The ESG agenda is as important to our people as it is to clients; these significant changes outlined today further reinforce KPMG’s purpose to Inspire Confidence and Empower Change and act as a north star for how we grow the organization.”
On his part, the Chairman, KPMG Africa, Kunle Elebute, added: “ESG plays a significant role in creating progressive, healthy, diverse and resilient communities for this generation and others to come.”
KPMG in the statement said, “Five newly dedicated Hubsare to be established to provide world-class expertise and solutions on key ESG issues, these will focus on: Global Decarbonization, helping large multinational businesses meet their net-zero commitments and plan their decarbonization journey, and Global ESG Advisory, backed by Advisory teams from KPMG firms, offering market-leading ESG expertise including leadership on societal issues and solutions. Three KPMG Regional ESG Hubs will also be established in Europe, Asia Pacific and the Americas to allow clients easy access to world-class insights and expertise across the ESG agenda.
“KPMG will invest in its leading climate and ESG solutions and technologies, including Climate IQ, a digital tool that helps clients identify opportunities and risks arising from climate change.
“To complement the technological investments, the global organization will also expand its workforce, both for ESG advisory work and to provide assurance on ESG disclosures. Additionally, KPMG will develop its proprietary audit workflow technologyto enable delivery of ESG assurance with the same quality and rigor that KPMG firms apply to financial audit work.
“ESG training will be provided to all of the KPMG organization’s 227,000 people to ensure that everyone is empowered to be an agent of positive change. As part of this training, KPMG is working with two leading global academic institutions, University of Cambridge Judge Business School and NYU Stern Executive Education.”
The United Kingdom’s Minister for Africa, Lord Collins of Highbury, has concluded a three-day visit to Nigeria, aimed at reinforcing the UK-Nigeria Strategic Partnership.
He reaffirmed the UK Government’s strong commitment to deepening trade and investment ties between the United Kingdom and Nigeria.
During his visit, Lord Collins met with senior Nigerian government officials, business leaders, civil society representatives and United Nations agencies.
These engagements underlined the UK’s long-term drive to support Nigeria’s prosperity and stability while deepening bilateral cooperation for transformative growth across our shared priorities.
A key highlight of the visit was Lord Collin’s bilateral meeting with Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, in which both parties reaffirmed their unwavering commitment to strengthening economic ties and promoting regional security. The Minister was joined by the UK’s Trade Envoy to Nigeria, Florence Eshalomi MP.
Lord Collins also met with Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, and discussions focused on opportunities to strengthen engagement between UK’s parliament and Nigeria’s National Assembly and the importance of furthering women’s participation in politics.
Speaking on his visit, the UK Government’s Minister for Africa, Lord Collins said: “Nigeria and the UK share a rich, ambitious relationship: one that is deeply rooted in respect.
“Our Strategic Partnership is at the forefront of this, and my visit has focused on how our countries can continue deepening our cooperation on key issues such as trade and investment to drive economic growth and deliver prosperity for us all.”
The Minister held discussions with United Nations representatives on the ongoing reform of the UN system, its implications for Nigeria and how the reform can effectively support those most in need, particularly in Northeast Nigeria, whilst also contributing to global humanitarian efforts.
Lord Collins also met with civil society leaders to discuss electoral integrity and governance reforms, reinforcing the UK’s commitment to democratic values and community empowerment.
He later visited Nigeria’s Anti-Kidnap Fusion Cell: a key security initiative supported by UK expertise through the National Crime Agency and the Integrated Security Fund, which plays a vital role in enhancing local safety and combating serious crime.
Also commenting on the visit, the British High Commissioner to Nigeria, Dr Richard Montgomery, said: “Driving growth is central to the UK’s foreign and development policy. Lord Collins’ visit to Nigeria underscores the UK’s unwavering commitment to deepening our shared prosperity through expanded trade and investment. We are proud to stand alongside Nigeria as it forges a resilient and dynamic economy.”
This visit underscores the UK’s enduring partnership with Nigeria – built on mutual respect, shared goals, and a vision for a prosperous future for both nations.
News
PalmPay Launches CSR Initiatives to Empower Women, Foster Financial Literacy in Northern Nigeria
In a strategic move to expand financial inclusion in Nigeria, leading mobile banking platform, PalmPay has launched a series of CSR programs across Kano and Kaduna. The CSR initiative named “Passing the Baton” represents the brand’s commitment to passing on knowledge and providing the resources individuals and businesses need to achieve financial independence and drive economic empowerment.
This initiative is a bold move by PalmPay to bridge the opportunity gap in the North by providing financial literacy training and micro-business branding support to 5,000 women-owned businesses in Kano and Kaduna. This strategic initiative reaffirms PalmPay’s commitment to inclusive development and economic empowerment, particularly in underserved regions.
“At PalmPay, we believe that real financial inclusion must be far reaching and cover the grassroots,” said Chika Nwosu, Managing Director of PalmPay. “Our new CSR program is focused on supporting gender equity by equipping women with the knowledge, tools, and visibility they need to thrive as entrepreneurs in their communities.”
Through this initiative, beneficiaries will receive free health insurance, hands-on training workshops, enhanced store branding to boost visibility, and branded merchandise to strengthen their business presence.
The initiative is part of PalmPay’s broader strategy to extend its innovative solutions, expand its footprint in Northern Nigeria, while building sustainable partnerships with local stakeholders for long-term impact.
In a show of support, His Royal Highness, the Emir of Kano, Dr. Muhammadu Sanusi II, has endorsed the initiative, calling on other stakeholders to join forces with PalmPay in ensuring the North benefits fully from the growing digital economy. PalmPay has received commendation from community stakeholders, as the initiative aims to serve as a model for similar projects across other northern states.
As PalmPay continues to scale across Nigeria, the company remains committed to bridging the financial inclusion gap and empowering underserved groups, particularly women and youth, through its innovative solutions and impact initiatives.
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