Bain & Company announced a set of bold new sustainability commitments. The firm pledged to further reduce its scope 1 and 2 emissions—from activities such as heating and powering its offices—by 30 per cent over the next five years, and it plans to reduce its scope 3 emissions from business travel by 35 per cent per employee over the same time period.
What sets Bain apart from others is that it is deep into its sustainability journey, having already eliminated 78 per cent of its scope 1 and 2 emissions over the past decade by converting to 100 per cent renewable electricity, improving the energy efficiency of its offices and finding ways to reduce waste from its operations. These new goals reflect Bain’s steadfast alignment with the Science-Based Targets Initiative’s ‘Business Ambition for 1.5°C,’ which the firm signed last year when it committed to achieve net zero climate impact by 2030.
“We are long past picking low-hanging fruit, and we are following the same advice we give to our clients: setting audacious goals that are realistic and measurable,” said Sam Israelit, Bain’s Chief Sustainability Officer.
“Our firm is hyper focused on mitigating the impact of our emissions on the environment and accelerating our carbon transition. We continue to lead the way in our own industry while also equipping our clients and nonprofit partners to do the same.”
“Bain & Company has long been a sustainability frontrunner in its industry, achieving carbon neutral status for the past ten years in a row. Regionally, we are not just committed to reducing Bain’s remaining carbon footprint, but we will continue to invest in high quality carbon removal projects, including both nature-based reforestation and implementation of green technologies,” said Samer Bohsali, Partner at Bain & Company Middle East.
Earlier this year, Bain announced that it received a gold rating from EcoVadis, the leading platform for environmental, social and ethical performance ratings, putting Bain among the top 2 per cent of professional services companies for its sustainability practices.
“Like most businesses, the pandemic gave us a chance to step back and reimagine the ways we’ve historically worked,” said Torsten Lichtenau, a Bain partner and global head of the firm’s Carbon Transition impact area within its Sustainability & Responsibility consulting practice.
“One area where we’ve decided to go above and beyond is optimising carbon emissions associated with travel. The pandemic proved there are times when we can still be extraordinarily effective with our clients by leveraging technology to collaborate in a hybrid work environment.”
Bain announced the launch of FurtherSM, the firm’s collective ambition to create a more sustainable, equitable and inclusive world —as a firm, as a partner to its clients and as a champion for global communities.
This year, the firm’s Sustainability & Responsibility consulting practice celebrated ten years supporting corporate clients on their own sustainability journeys. The practice has grown significantly over the past decade, completing more than 500 client projects in the last two years alone.
Bain also supports leading non-profits tackling critical environmental challenges as part of its $1.1 billion commitment to pro bono consulting. This includes a multi-year partnership with The Nature Conservancy (TNC), focused on market-based solutions to tackling climate change.
Source: Khaleej Times