KPMG Announces Appointment of Mike Shannon as Global Head of ESG Assurances
A Brief Summary
Mike Shannon has been named to the newly formed position of Global Head of ESG Assurance at global professional services firm KPMG. Shannon will be in charge of "embedding and executing on ESG Assurance as an integral component of KPMG's overall Global Audit strategy and further embedding ESG as the watermark across the global KPMG organisation," according to the firm.
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Investors, regulators, and other stakeholders are putting growing pressure on firms throughout the world to produce disclosures on ESG activities, sustainability strategies, and progress. Several governments have indicated plans to make required climate disclosures, and sustainability reporting standards are fast forming, most notably through the International Sustainability Standards Board's recent formation under the IFRS.
KPMG recently launched a multi-year programme aimed at accelerating global solutions for ESG issues and supporting clients in their sustainability efforts, which includes plans to invest over $1.5 billion in initiatives to further embed ESG in the organisation and client solutions, as well as provide ESG training to all of the firm's 227,000 employees. KPMG's Global ESG strategy includes expanding its staff to give assurance on ESG disclosures and developing its proprietary audit workflow technology to enable ESG assurance to be delivered with the same quality and rigour as financial audit work.
Shannon has worked for KPMG for more than 35 years, most recently as the Global Head of the Chemicals and Performance Technologies business and KPMG's National Audit Industry Leader for Chemicals in the United States. Larry Bradley, KPMG International's Global Head of Audit, will be his boss.