KPMG hosts Bahraini leaders for ins and outs of decarbonization

08 February 2023 Consultancy-me.com 3 min. read
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Over 100 business leaders in Bahrain recently convened at the Downtown Rotana Hotel to discuss the topic of decarbonization and net zero. A round-up of the event’s key takeaways.

Hosted by KPMG’s member firm in Bahrain, the seminar focused on how the private sector can drive their decarbonization roadmap across a range of levers, from energy efficiency and greening of operations, to reducing scope 3 emissions and the adoption of carbon offsetting programs.

Keynote speaker of the event was Charbel Moussa, a partner at KPMG in the Netherlands. Flown in from the firm’s Amsterdam office, Moussa outlined how sustainability has rapidly risen up the strategic agenda, and how organisations can craft the pathways and transition plans needed to achieve their decarbonization ambitions.

The speaker line-up at the seminar

During his talk, Moussa stressed the important of taking a holistic approach to decarbonization, linking targets to the overall strategy, and one level down, ensuring alignment to core business processes.

The KPMG partner also re-iterated the need for being prepared for climate-induced risks. “The world is increasingly interconnected, and any climate risks at a global level will eventually impact businesses across the world at a local level as well,” he said.

Moussa also encouraged the representatives of companies to start investing in technology and digital interventions to support them in their sustainability efforts. “No correct evaluations of carbon emissions can be done if data and information is not available. Decision makers need to analyze and have real-time visibility on the impact of their decisions before they can make significant decisions. Technology is essential for assessment, implementation, and the monitoring of impacts.”

Next up was Kal Subramanian, Head of Markets at KPMG in Bahrain and an expert on ESG. During his presentation, he emphasized the importance of the ‘human’ side to sustainability change. “Focus on the necessary behavioral change across the organization, which is key in ensuring that impacts realised are also sustained.”

Subramanian also stressed the benefit of taking an early-mover strategy. “Organizations that start working on their decarbonization strategy now will gain a competitive advantage by putting in the work before ESG reporting becomes a mandatory regulatory requirement. This includes monitoring, measuring, and managing the current carbon emission across the lifecycle of the business’ operations.”

The seminar was chaired by Jeyapriya Partiban, a partner at KPMG and Head of the Advisory division in Bahrain. In her speech, she broadened the lens on sustainability, providing insight into how the ‘E’ and ‘G’ of ESG are also increasingly becoming a recurring theme within boardrooms.

At a national level, Bahrain’s government has committed to achieving net-zero carbon emissions by 2060, and a 30% reduction through decarbonization and energy efficiency initiatives by 2035.

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