The Boston Consulting Group (BCG) has recently released its “2022 Annual Sustainability Report” highlighting the firm’s sustainability journey while it works to solve some of the world's most urgent challenges.
The report, titled “Expanding Our Reach, Enhancing Our Impact”, showcases numerous achievements made by the firm throughout 2022, including spearheading over 1,500 initiatives focused on societal and planetary impact across 780 clients.
Additionally, the firm has committed over US$1bn in investments since 2020 to promote progress in this area by partnering with prominent private, public and social sector organisations, providing both pro bono assistance and direct financial aid.
“We are committed to being the most positively impactful company in the world. This ambition lies at the heart of everything we do and is core to our purpose and values," said Christoph Schweizer, CEO of BCG. “We are proud to partner with clients, governments and nonprofit organisations to create positive and sustainable economic, environmental, and societal impact.”
2022: A year of growth for BCG
The global firm also saw the appointment of two important C-suite leaders in 2022. David Webb was named Chief Sustainability Officer as well as his role as MD of North American Systems, while Nadjia Yousif was named Chief Diversity Officer.
“It is essential that BCG is not only representative of the societies we serve, but also that everyone at BCG feels that they can bring his, her, or their full self to work,” said Yousif on the appointment. “I am so excited to shape and progress the DEI agenda at BCG and beyond.”
What’s more, the BCG workforce grew to 30,000 in 2022, with women accounting for 46% of the total headcount.
Leading the way for climate action
For the second consecutive year, BCG was the only consulting partner to COP27 and provided assistance to the UN High-Level Climate Action Champions and was honoured with a place on the CDP Climate A List.
Since 2020, the firm’s investments in climate action have surpassed US$500mn and has committed to investing US$2bn by 2030.
“We have set ambitious, science-based targets aiming to halve our emissions intensity by 2025 and achieve net-zero climate impact by 2030," Webb explains. “In addition to evolving the way we operate to reduce emissions, we are proud to be one of the companies helping support climate innovation in our industry and beyond.
“One way we do this is by supporting the development of breakthrough climate technology such as sustainable aviation fuel and direct air capture.”
Key findings from the report chart BCG’s climate change progress since 2015:
- Greenhouse gas emissions have decreased by 30%
- Water usage has been reduced by 20%
- Waste generation is 15% less
- Energy consumption has dropped by 10%
The report showcases various instances where BCG has assisted clients in accomplishing their sustainability targets.
These include helping one client reduce its greenhouse gas emissions by 20% by implementing energy efficiency measures in its offices and factories; helping another client reduce its water usage by 15% by installing water-saving fixtures in its buildings and implementing a water conservation programme; and helping another client reduce its waste generation by 10% by implementing a recycling program and composting food waste.
Download the full report here.