From switching to renewable electricity to championing recyclable packaging, Nestlé Australia has been working to transform its value chain to reduce climate impacts and has partnered with KPMG for support around the introduction of the Australian Sustainability Reporting Standards.
"The legislation is the most significant change to reporting requirements in a generation. Our nation’s biggest companies are now required to disclose their greenhouse gas emissions while outlining plans to tackle future risks from 1 January 2025," said KPMG Director Sophie Degagny.
"Nestlé is one of the first entities to make these disclosures and we are helping them prepare their first regulatory Sustainability Report and upskill their people in this area of expertise."
"We are helping Nestlé integrate climate considerations into their governance structures, while supporting local metrics and tangible targets to help Nestlé address their climate-related risk."
While KPMG Switzerland has already been supporting Nestlé globally with meeting its European requirements, Nestlé recognised the need for local expertise.
"We are working with Nestlé to identify climate risks and opportunities that are specific to Nestlé’s operations in Australia. This involves looking at different scenarios and assessing both physical and transitional risks that could impact their operations locally," KPMG Partner Sarah Newman said.
Another critical area is metrics and targets, where entities are required to report on their emissions and measure the impact of climate-related risks on their operations.
"We’re partnering with Nestlé through the process of reporting on their direct and indirect emissions. This will help identify carbon-intensive activities across their operations, including manufacturing, packaging, and product end-of-life management and explore renewable or lower-emission alternatives to reduce their overall footprint," Sophie said.
Metrics and targets are designed to measure Nestlé’s sustainability progress over time and show concrete and verifiable action.
