KPMG Australia has acquired human rights consultancy Banarra. The deal will boost the firm’s portfolio of risk advisory services and align its client offering with its corporate citizenship work. Founder Richard Boele and his 10 consultants will join KPMG’s Climate Change & Sustainability practice.
Founded in 2006, Banarra is an Australian human rights and social impact consultancy which offers its clients a full range of human rights and social impact advisory services. These services include, among others, impact assessment, social return on investment, heritage and culture, accountability and business strategy. The consulting firm is headquartered in Sydney and services clients in 10 countries in a variety of sectors, among which the resources, energy, finance, property and infrastructure.
In line with its aim to grow its risk advisory services capacities and to be able to better advice its clients on human rights and social impact, KPMG Australia decided to acquire Banarra and add Richard Boele, the CEO and founder of Banarra and his 10 specialist consultants, to its Climate Change & Sustainability practice.
“Social expectations are clearly on the minds of C-suites and boards. Corporate footprints which are now global, the rise of social media and the need to re-examine an organisation’s purpose are requiring our clients to better understand their human rights and social impacts. Failure to do so can result in reputational damage and exposure to regulatory, legal and commercial risk,” explains Gary Wingrove, KPMG Australia CEO. “This acquisition not only broadens and enhances our portfolio of risk advisory services, but it also closely aligns our client offering with our internal corporate citizenship work, which was recently recognised with Australia’s prestigious Human Rights Business Award.”
Boele adds: “There is a good ‘fit’ between KPMG and Banarra at many levels. I’m looking forward to taking our unique depth of experience to the wider KPMG clientele as well as helping to innovate new solutions for KPMG clients. Innovation is one aspect that has made Banarra successful in our area. I can’t wait to take what we’ve done to all KPMG clients.”