Paul Koppel
Revenue Office Leader, Financial Advisory
Philadelphia
Mon, Jan 29, 2024
Annual Impact Report 2023: Doing Business Consciously
In this report, you will see how our global workforce of colleagues has brought together diversity of thought to challenge each other and work shoulder to shoulder for greater good.
Download The ReportA Letter From The CEO
A Letter From The CEO
For many businesses, 2023 was a complex year of continued uncertainty. As a solutions-driven advisory firm that specializes in assessing and mitigating risk, we guided our clients through the ambiguity and helped them stay ahead. We used our values to help lead our work and remained committed to doing business consciously.
Within this report, you will discover how our global workforce of colleagues invested their time, talent and resources to impact lives and support our communities. We continued our journey to create an inclusive, diverse and supportive environment for every colleague at every level of the organization. We advanced our employee-driven philanthropy and volunteering, partnerships with charitable organizations, sustainability commitments and global inclusion and diversity initiatives. We hosted engaging panel conversations with colleagues, external guest speakers and trainings.
This year, we also welcomed Craig Wymant to Kroll as Chief People Officer. Craig has a history of building and scaling high-performing teams, and he is driving our focus on attracting and developing diverse talent so we can advance our inclusive and high-performance culture.
As we look toward 2024 and start to build on our accomplishments, I am overwhelmed with gratitude. Kroll’s people, partners and clients delivered another year of growth, collaboration and learning that will help shape our firm’s path forward.
Jake Silverman, Chief Executive Officer
A Letter From the Chief People Officer
A Letter From the Chief People Officer
I am delighted to have joined the Kroll team this past year as Chief People Officer. Kroll has seen impressive growth and expansion in recent years, and it is energizing to be part of an organization full of talented, innovative and compassionate professionals.
Starting out at Kroll, one of my first priorities was to virtually connect with colleagues around the world and learn about the firm through the unique and diverse perspectives of our people. These early connections have given me many meaningful insights to enhance our people proposition at Kroll.
I look forward to working alongside Kroll’s leadership to progress the firm’s People strategy, lead our Corporate Social Responsibility (CSR) efforts, and evolve our Inclusion and Diversity (I&D) strategy. Together with our global team, we are advancing an inclusive culture of belonging for all, building on the great collective efforts detailed in this report.
My time at Kroll has been incredibly rewarding so far. I am excited about what lies ahead as we continue to learn, grow and connect.
Craig Wymant, Chief People Officer
Kroll Cares Program
Our Kroll Cares program supports philanthropic efforts across Kroll and is a promise to make a positive and ongoing impact as an organization. Kroll Cares is a critical part of our ethos and a cornerstone of who we are. It’s a commitment to doing business consciously—for our people and our communities. Our people share their time, talent and resources, all in the name of helping others, and they are passionate about supporting the communities where they live and work.
From our month-long initiative where offices around the world volunteer together, to fundraisers for mission-driven causes, to pro bono work—our people consistently come together as One Team, One Kroll to provide support to worthy causes.
Since its launch in 2018, the Kroll Charitable Foundation has embodied the Kroll Cares spirit, distributing millions of dollars to hundreds of charities worldwide. The Kroll Charitable Foundation is committed to nurturing innovative ideas, impacting economic and social issues, and enabling progress in underserved communities around the globe.
The Kroll Charitable Foundation supports non-profit organizations that:
- Align with the firm’s core values
- Support inclusion and diversity
- Address critical needs or disaster response in areas where Kroll employees live and work
- Promote financial literacy and opportunity
This year, the Kroll Charitable Foundation continued to amplify the Kroll Cares program and empowered colleagues to support causes through volunteerism and fundraising. In 2023, we collectively supported 400+ causes and volunteered 10,000+ hours of our time.
Kroll Cares Month
Kroll Cares Month
To embody our commitment to care, we once again hosted Kroll Cares Month—an annual, month-long volunteering initiative across all our global offices.
During Kroll Cares Month in September, Kroll supported over 75 causes and volunteered more than 8,500 hours. We provided more than 70,000 meals for hungry neighbors, planted more than 850 trees and donated blood that will save over 250 lives, in addition to other impactful support.
Among many remarkable efforts and diverse volunteer initiatives this year, our teams in New York packed 10,000 meals for kids and families. Our offices in India organized workshops to teach essential career skills to students. And colleagues in the UK biked, walked and ran to raise money for cancer research.
The success of the volunteer efforts would not have been possible without our people—and most especially our local city leaders and Corporate Social Responsibility (CSR) Champions. They found causes and volunteer projects that people cared about, then planned events to bring Kroll together.
We also worked with mission-driven suppliers. In the Americas, we renewed our partnership with Spectrum Designs Foundation, an organization that creates meaningful and inclusive employment opportunities for people with autism. Spectrum produced T-shirts for teammates to wear during Kroll Cares Month.
Charity Partners
Kroll Cares extends far beyond the month of September. We believe there are opportunities for us to support our charity partners beyond traditional volunteerism. This year, we’re proud to have strengthened our relationships with several outstanding organizations.
 | Sponsors for Educational OpportunityKroll is committed to building a more equitable global workforce and is exemplified by our partnership internship program with Sponsors for Educational Opportunity (SEO). SEO is closing academic and career gaps for young people who live in underserved communities. It supports high-achieving undergraduate students who have historically been excluded from corporate America. This summer, Kroll welcomed six SEO-affiliated students as interns in our Portfolio Valuation and M&A Advisory service lines.    
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 | Children of Fallen Patriots FoundationThis partnership honors U.S. servicemembers while investing in the future through higher education. The Children of Fallen Patriots Foundation provides college scholarships and educational counseling to children who have lost a parent in the line of duty. The Children of Fallen Patriots Foundation works with corporate partners, individuals and others to raise money to provide college funding for these deserving children.  
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 | Prevent Breast CancerKroll’s Network of Women and CSR team collaborated to launch a new partnership with Prevent Breast Cancer, a UK-based charity that funds groundbreaking research to prevent breast cancer for future generations. The partnership began with Prevent Breast Cancer delivering an awareness presentation and was expanded by our UK colleagues’ pledge to rally for the cause. Since then, colleagues have run the London Marathon, the Great North Run and The Big Half, and held events ranging from quizzes to bake-offs. Through these efforts, our people raised over $25,000 in support of Prevent Breast Cancer.   |
Company Contributions
The Kroll Charitable Foundation partnered with several additional charities through its granting program. Meet our additional global charity partners:
In-Kind Donations
We are conscious stewards of our resources. Kroll upcycled and recycled equipment to support charitable partners and collected in-kind donations for people in need. Here are some examples of our in-kind giving efforts:
In Italy, our Agrate Brianza and Milan offices held clothing and donation drives for WeWorld Onlus, a humanitarian aid organization. Colleagues collected school supplies, hygiene and beauty products, and books for women and children, then packaged the gifts and wrote motivational messages for their recipients.
Colleagues in Hyderabad collected clothes, footwear, books, toys and quilts for the Goonj Foundation, an organization that provides disaster relief and humanitarian aid across India.
Our Southeast Asia team partnered with non-governmental organizations in Singapore to donate laptops. The computers will be used by non-profit organizations and lower-income families.
Kroll’s Veterans Employee Network donated blankets to St. Albans Veterans Home in New York. St. Albans provides residential, nursing and rehabilitative care for veterans and their families.
Pro Bono Support
Doing business responsibly means we use our talents and expertise to make the world a better place. We offer our people, resources and capabilities to organizations that might not be able to afford such professional services otherwise.
In 2023, Kroll provided pro bono services to outstanding causes throughout the year, including Climate Vault and the Pennsylvania Innocence Project, among others.
2023 Pro Bono Highlights
Climate Vault
Climate Vault is making net zero a reality right now by leveraging existing carbon offset markets to help organizations decarbonize. It tackles the climate problem in two ways: by significantly reducing the amount of carbon dioxide emissions that are produced and by supporting innovations to remove existing carbon dioxide from the atmosphere.
In 2023, Kroll supported Climate Vault with a transfer pricing analysis. The project team was led by Cedric Bernardeau, Managing Director, Transfer Pricing, New York.
Pennsylvania Innocence Project
The Pennsylvania Innocence Project works to free the innocent, prevent wrongful convictions and create fair, compassionate and equitable systems of justice for everyone.
Kroll’s Forensic Investigations and Intelligence practice supports the organization under the leadership of Managing Directors Bill Nugent in Philadelphia and Cem Ozturk in Sydney.
The Kroll Charitable Foundation Advisory Council
Building on our multi-year sustainability efforts, we continued to hone our strategic focus this year. We grounded our sustainability approach in data, connected it to global market conversations and aligned our efforts to frameworks such as the United Nations Sustainable Development Goals (UN SDGs). We consciously advanced a number of initiatives, many of which were promoted by the energy and passion of our people.
In 2023, Kroll continued to develop ESG Advisory services and solutions for clients, including materiality assessments, ESG program development, data aggregation tools, screening and due diligence, disclosure and reporting support, ESG-related investigations, and monitoring services.
Our Sustainability Strategy: Grounded in Data, Connected to Global Conversations
Kroll experts provide our clients with data-tested analyses to stay ahead of the most complex business challenges. We approach our internal sustainability efforts with the same rigor.
Our Emissions Footprint
A critical input for any data-driven sustainability strategy is a comprehensive greenhouse gas footprint measurement. Kroll partnered with Watershed—a software company that provides an enterprise climate platform for measuring, reducing and reporting emissions—to measure our 2022 greenhouse gas footprint.
Measurement is an early step in our climate journey—and part of our duty to be responsible corporate citizens. Importantly, this measurement allows us to refine our sustainability strategy and launch initiatives to address and mitigate our climate impact even further.
This year Kroll continued to fulfill a multi-year commitment to be a CarbonNeutral® company, certified in accordance with The CarbonNeutral Protocol. The subsequent section titled “Carbon Neutrality” will provide more details on this commitment.
The United Nations’ Sustainable Development Goals
We tailor our sustainability efforts to meet business needs while aligning with global ESG conversations.
We’ve tied our strategies and initiatives to the UN SDGs. While we acknowledge and respect the interconnectivity of the 17 goals that make up the SDGs, we believe four of them are directly relevant to our business and connected to areas where we can make the greatest impact.
Kroll’s sustainability efforts are deliberately aligned to:
Our Double Materiality Assessment
Our ESG Advisory Services team is helping us look inward; it is conducting a materiality assessment to help Kroll identify sustainability issues that have the potential to affect our operating performance, financial resilience or the world at large.
The resulting analysis will inform our evolving sustainability journey, and it will give us the opportunity to fully appreciate the views of internal and external stakeholders. We will use the resulting materiality map to ensure our sustainability strategy stays aligned with Kroll’s goals to meaningfully control our environmental impact, promote social good and create long-term value.
Our Sustainability Initiatives
We launched and advanced a number of initiatives in 2023 to bring our sustainability strategy to life.
Kroll Workplace Strategies
Through the Kroll Workplace strategy, we continue to work smarter—increasing efficiency in day-to-day office processes, reducing overall energy consumption and encouraging employees to recycle and compost waste.
Our Workplace strategy starts at the design and development stage of any new workplace or office build-out and continues throughout our occupancy. Approximately 77% of Kroll employees work in LEED- (Leadership in Energy and Environmental Design) or BREEAM- (Building Research Establishment Environmental Assessment Method) certified buildings, which are designed to prioritize energy efficiency.
We are actively transitioning toward only working in LEED- or BREEAM-certified buildings or equivalent spaces. These certifications ensure our workspaces are constructed to reduce energy and water usage, promote better indoor air quality and reduce the environmental impacts of construction.
We have also achieved a number of ISO (International Organization for Standardization) certifications. ISO is an independent, nongovernmental international organization which brings together experts to share knowledge and develop voluntary, consensus-based, market-relevant standards that support innovation and provide solutions to global challenges—ensuring businesses blend quality with consciousness. By achieving the following ISO certifications in certain jurisdictions, we demonstrate our commitment to good governance.
ISO Certifications
Carbon Neutrality
Carbon Neutrality
Our commitment to being a CarbonNeutral® company means we’ve reduced our emissions globally through internal efficiencies and we then offset the required emissions we couldn’t reduce or eliminate.
To offset the residual emissions, we support a number of carbon reduction projects. People around the world are creating innovative solutions to reduce the amount of greenhouse gases in the atmosphere, but they lack the financial means to launch and scale their projects. Kroll helps finance sustainable projects in locations where our people live and work, and we receive credits for the emissions our contributions help reduce. In turn, these credits net against our footprint and compensate for Kroll’s total emissions. Read more about one of the projects Kroll recently supported:
Delhi Electric Rail Systems, India: Public transport is the primary mode of road transportation for billions of people in India. However, most road transport still relies on fossil fuels. Carbon finance supported the Delhi Metro to install more than 100 kilometers of state-of-the art electric rail systems and new trains. Emission reductions were achieved by reducing the greenhouse gas emissions per passenger-kilometer, compared to conventional modes of transport like buses. As a whole, the project delivers approximately 500,000 tonnes of emission reductions each year while increasing access to affordable transport in Delhi.
Galvanizing Our Workforce
Our colleagues are an important part of our commitment to a more sustainable future. During a month in which each office can choose its own volunteering activity (read more about Kroll Cares Month here), roughly one-third of our offices chose to host environmental- or sustainability-related activities. As One Team, One Kroll, we cleaned up over 20 parks and communities, and we planted 850 trees.
To celebrate Earth Day, we held the second annual Kroll Cares Sustainability Challenge. Colleagues were encouraged to make simple but conscious lifestyle changes—like conserving water, commuting smarter and eating mindfully—to reduce their personal carbon footprint. In a single month, our actions saved the equivalent of 15.1 million plastic water bottles and 25.6 million plastic bags.
The Kroll Cares Forest
We continued to grow our partnership with Tree-Nation and nurture the Kroll Cares Forest, located in India, where 15% of our people live. In 2022, we planted a tree in honor of every Kroll colleague, and we continue to plant a tree for every new hire.
In 2023, we planted roughly 2,500 new trees, bringing our forest to over 10,000 trees. That many mature trees have the potential to remove over 5,000 tons of carbon dioxide from the atmosphere. We look forward to following the growth of our forest as our workforce expands.
Using Our Skills for Good
Thought Leadership
We align certain commercial work with the UN SDGs. For example, to support SDG 10: Reduced Inequalities, Kroll coauthored research led by Stefanie Perrella, Global Head of Transfer Pricing, New York and Zachary Held, Director, New York that explores commercially viable vaccine manufacturing in Africa. The research comes on the heels of the COVID-19 pandemic, which exposed constraints and inequities in the current vaccine supply landscape.
Funded by the Bill and Melinda Gates Foundation and in collaboration with other experts, Kroll developed a series of economic models to estimate the fully loaded production costs for several vaccines in Africa. These models considered a range of hypothetical scenarios to inform the conversation about key strategies and circumstances that could support the long-term commercial viability of vaccine manufacturing in Africa. Many consider this crucial to increasing vaccine equity, supply security and pandemic preparedness on the continent. Kroll is proud to contribute this public good to the dialogue on such an important topic.
In 2023, we also published our ESG and Global Investor Returns Study, which examined the relationship between the historical returns of publicly traded companies and their ESG ratings. Led by Carla Nunes, Managing Director, Philadelphia, Kroll experts analyzed data on more than 13,000 global companies across a variety of industries. Globally, ESG Leaders earned an average annual return of 12.9%, compared to an average annual return of 8.6% among Laggard companies. This represents an approximately 50% premium in terms of relative performance by top-rated ESG companies. We are committed to continuing our thought leadership in this space.
How Kroll Can Support ESG Needs
How Kroll Can Support ESG Needs
Kroll’s ESG Advisory Services team harnesses our global subject matter expertise and technology solutions to help clients address ESG challenges and create sustainable value and growth.
Kroll provides an extensive range of advisory support and technology solutions to help clients achieve their ESG goals and navigate this evolving landscape. Companies can engage us throughout various stages of their business life cycle and ESG journeys to leverage our diverse team’s extensive global experience and insights in advisory, governance and risk. Kroll can help businesses:
Connect with us to learn more about how our experts can help your business achieve its ESG goals and navigate the changing landscape.
Download The Report
Looking Ahead
We are proud of the advancements Kroll made in our sustainability journey in 2023, and we are energized to continue our progress in 2024. We plan to further drill into our data to determine where Kroll is best positioned to make an impact, then build or strengthen programs focused on those areas.
We are committed to continue reducing our greenhouse gas footprint. In the next 12 to 24 months, we intend to share a more formal carbon reduction plan, including Scope 1 and Scope 2 reduction targets as well as other measures.
We are closing 2023 and entering 2024 with intentionality and determination to scale our business and our accompanying sustainability efforts.
Creating a More Inclusive Kroll
We are committed to advancing our Inclusion and Diversity practices and strategies, and believe that creating an inclusive, diverse and supportive workplace is critical to empowering our colleagues to reach their full potential. Through the work of our Inclusion and Diversity Council and Employee Network Groups, we bring together diverse viewpoints, backgrounds, cultures and experiences to take action throughout our communities, both in and out of the office. Together, we drive inclusive partnerships and recruiting initiatives, celebrate and commemorating important holidays and cultural moments, and empower our teams to deliver exceptional results for our clients. We will continue to evolve our Inclusion and Diversity strategy to create a workplace that builds diversity and embraces the power of inclusion.
Employee Network Groups
People-driven networks amplify underrepresented voices at Kroll.
Employee Network Groups are voluntary efforts to create welcoming and supportive communities within Kroll. The networks are designed around common themes, such as ethnicity, race, gender, sexual orientation, age, disability, or veteran status, among other unifying qualities. These networks collaboratively strive to propel our I&D commitment forward. Kroll’s Employee Network Groups are not just about representation; we are focused on creating a workplace where everyone thrives, hand in hand.
Our Black Employee Network recognizes and celebrates cultures from across the African diaspora. It focuses on Black Excellence and how to embody it. The network also prioritizes mental health, as this year a colleague who is passionate about well-being and mindfulness led a guided mediation. The network hosted several discussions and events on key topics.
Our Pride Network forged new partnerships with external organizations, including myGwork and Diversity Role Models, to promote LGBTQ+ issues and deepen the firm’s relationship with the LGBTQ+ community. The network launched two new initiatives in 2023: Kroll’s Allyship Program and Kroll Role Models. They encourage active allyship and provide confidential support. There are Kroll Allies and Role Models in every Kroll service line, leadership level and geographic location.
Together, the Network of Women and Women in Tech work to foster open and inclusive discussions surrounding women’s issues (in and outside of the workplace) to effect positive change.
The Network of Women focuses on personal branding and self-promotion to help women at Kroll advance into leadership positions. The group hosted interactive events to help women develop career-advancing skills, many which were led by an advisory firm called Negotiating Women. Highlights of the group’s activities this year include a successful client reception at the Victoria and Albert Museum in London, where hundreds of guests networked with peers paving new paths across industries.
Women in Technology held an event on cybersecurity best practices, which focused on scams that traditionally target women. Participants learned how to lower their risk of identity theft, minimize digital exposure and protect their credit status. The group also hosted an internal panel discussion in which women leaders shared advice on how to balance one’s career, personal life and passions.
Our Veterans Employee Network invited clients to a discussion with a distinguished speaker. Sir Mark Carleton-Smith, a British Army veteran and former Chief of the General Staff, spoke about the public sector perspective on macroeconomics and shared insights on leadership.
Kroll Conversations
In 2023, Kroll launched a discussion series where colleagues can talk about critical issues that are shaping our world, both inside and out of the workplace. Kroll Conversations featured colleagues and guest speakers and prompted thoughtful exchanges on culture, charitable work, ESG, sociopolitical topics and other issues.
Black Excellence Rooted Around the World
Black Excellence Rooted Around the World
The inaugural Kroll Conversation, Black Excellence Rooted Around the World, was held in recognition of Black History Month. Colleagues from the Black Employee Network discussed Black excellence and other facets of their workplace experience.
Anti-Semitism: Awareness, Accountability and Allyship
Anti-Semitism: Awareness, Accountability and Allyship
Members of the American Jewish Committee attended this Kroll Conversation to help colleagues identify expressions of anti-Semitism and become empowered allies to the Jewish community.
DigitALL: Innovation and Technology for Gender Equality
DigitALL: Innovation and Technology for Gender Equality
On International Women’s Day, members of the Network of Women and Women in Tech led a panel discussion that explored the gender equality gap in the technology field. They also talked about mentorship and how it affects success.
Tackling LGBTQ+ Discrimination Through Advocacy/Allyship
Tackling LGBTQ+ Discrimination Through Advocacy/Allyship
In celebration of International Day Against Homophobia, Transphobia, Biphobia and Lesbophobia, members of Kroll’s Pride Network shared personal stories to increase awareness about ongoing discrimination against the LGBTQ+ community. They also talked about the importance of respect, inclusion and allyship.
Supplier Diversity Program
Diversity of ideas and experiences drives growth and innovation at Kroll. Diverse suppliers are a critical component of our value chain, supporting both day-to-day company operations and our ability to deliver optimal results to our clients.
At Kroll, our Supplier Diversity Program operates through a cross-functional team represented by colleagues in Commercial Operations, Procurement, Finance, I&D, ESG and Communications. We are committed to providing fair and equitable opportunities to all capable suppliers. We believe that working with a strong network of diverse suppliers helps advance economic growth and development in the communities we collectively serve. Further, partnering with diverse suppliers is one way we foster I&D at Kroll.
Awards Recognition
 | Human Rights CampaignIn 2023, Kroll earned a 100/100 ranking on the Human Rights Campaign’s Corporate Equality Index, a nationally recognized benchmark that evaluates corporate policies, practices and benefits that are meaningful to LGBTQ+ colleagues. Our score this year marks a 10-point increase from last year’s score of 90. |
 | ExelonKroll was named to Exelon’s Diversity, Equity and Inclusion (DEI) Honor Roll for the fifth year in a row in 2023. The Honor Roll is an annual recognition of Exelon’s partners that prioritize DEI. Kroll ranked first in the professional service providers category. |
 | Profiles in Diversity JournalKroll colleagues Jessica Stamelman (President, Business Services, New York), Anju Chopra (Chief Innovation Officer, Cyber Risk, Nashville) and Venetia Manners (Chief Information Officer, Business Services, New York) were recognized in Profiles in Diversity Journal. Stamelman received a Women Worth Watching in Leadership Award, Chopra earned the Asian Leadership Award, and Manners won a Women Worth Watching in STEM Award. |
 | Savoy MagazineKroll’s Chief Inclusion and Diversity Officer, William Rolack Sr., was recognized in the spring edition of Savoy Magazine as one of 2023’s Most Influential Executives in Diversity and Inclusion. Rolack has been shaping diversity and inclusion strategies, as well as overseeing human resources and mobility management for more than two decades. Over the past two years, he collaborated extensively with leaders and stakeholders to accelerate I&D practices at Kroll and to bring his “platinum rule” to life. |
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