Boston Consulting Group’s (BCG) Climate & Sustainability practice had a portfolio of more than 1,500 projects in 2023, an increase of more than 50% since 2022. BCG also delivered over 1,000 Social Impact projects in 2023, up more than 35% since 2022. 

 

About 72% of BCG’s largest clients were involved in at least one social or planetary impact case, said the firm’s Annual Sustainability Report: From Bold Ideas to Exponential Impact. BCG has invested more than $1.5 billion in social and planetary impact since 2020 through pro bono and direct financial support in the private, public, and social sectors. 

 

The report showcases the firm’s work throughout 2023 to find the most valuable, sustainable, and innovative solutions to pressing global social and planetary challenges. It also outlines BCG’s progress toward its own sustainability commitments.

 

Greater social and planetary impact

“We are proud that in 2023 we delivered greater social and planetary impact than ever before—both internally and in our work with our clients and partners. The number of our client projects focused on social and planetary objectives has increased substantially, and we have achieved new milestones in our efforts to reach net zero climate impact by 2030,’’ said Christoph Schweizer, BCG’s CEO.

 

Climate action remains one core pillar of BCG’s strategy. The firm was a Principal Strategy and Action Partner to COP28, building on the collaboration with the UN Climate Change High-Level Champions since 2020. BCG is helping clients implement reductions of more than 1 gigaton of CO2 emissions by 2030, equivalent to the annual combined emissions of Germany and the UK.

 

“Our ambitious internal climate goals were at the very top of our agenda throughout the year, and we have stayed on track to achieve them,” said David Webb, BCG’s chief sustainability officer. “This commitment is also reflected in our investment in innovators who are pioneering new technologies including direct air capture and sustainable aviation fuels. These have potential to become a key part in meeting the planetary goals of carbon reduction and removal.”

 

Diversity, equity and inclusion

BCG continued its strong performance on diversity, equity, and inclusion through the year. The company’s workforce increased to 32,000 in 2023. Women made up 47% of the global headcount, and 39% of the Executive Committee. For a decade, BCG has maintained equal retention rates for men and women globally on both the consulting and business services teams. Race and ethnicity remained a top priority for the firm. In the US, 44% of BCG’s people and 55% of our new hires were from racial or ethnic minority groups.

 

The report details the wide range of initiatives and programmes that BCG has put in place to build a culture rooted in fairness and belonging, where every individual can thrive. The firm deployed its BLISS survey tool, which quantifies inclusion and its impact on employee retention, happiness, and well-being, to understand its current inclusion landscape and identify areas for improvement.--TradeArabia News Service