Boston Consulting Group (BCG) today released “A Time to Lead: 2021 Annual Sustainability Report.” BCG’s purpose is to unlock the potential of those who advance the world. The firm’s latest report details how BCG is stepping up to respond to sustainability challenges and outlines the firm’s programs, policies, and performance on critical environmental, social, and governance topics.
This is more critical than ever in light of the unfolding crisis related to the invasion of Ukraine, the continuing response and recovery efforts associated with the global pandemic, and the urgent need to accelerate progress in tackling climate and sustainability challenges.
The report specifically highlights dramatic growth in the firm’s climate and sustainability client work, where the number of cases doubled in 2021. At the same time, BCG has invested over $240 million in climate and sustainability initiatives since 2020. These initiatives include establishing an exclusive consulting partnership with COP26 and becoming a founding member of the First Movers Coalition and Breakthrough Energy Catalyst, two innovative programs aimed at identifying and catalyzing climate technologies. In addition, BCG has remained at the forefront of COVID-19 response and recovery, delivering more than 370 COVID-19 public sector support efforts across almost 50 countries worldwide since the start of the pandemic.
Building on the firm’s pledge to reach net-zero climate impact by 2030, last year BCG set new carbon reduction targets that aim to halve the firm’s emissions intensity by 2025 (against a 2018 baseline year). This is one of the most ambitious targets in the industry and has been validated by the Science-Based Targets initiative. In recognition of its climate actions, BCG became the only management consulting firm to earn a place on the CDP Climate A List, the gold standard of corporate climate action and transparency.
Over 7,000 people joined BCG in 2021. Women represented 48% of new joiners globally, and 51% of new hires in the US are from racial and ethnic minority groups. The report details the award-winning programs and policies that the firm has established to promote a more diverse, equitable, and inclusive environment.
“We are living through incredibly turbulent and challenging times. This context makes living our purpose—to unlock the potential of those who advance the world—even more critical. In my first year as CEO of BCG, I feel immensely proud of what we have achieved and of our positive impact in the world. We helped our clients navigate volatile times and address their most critical challenges. We have also learned a lot and are emerging from the pandemic stronger, more agile, and better positioned to help our clients and partners respond to uncertainty ahead.” said Christoph Schweizer, CEO of BCG.
This report focuses on activities undertaken during the 2021 calendar year, but as part of BCG’s ongoing commitment to humanitarian crisis response and recovery, the firm is currently working with its global social impact partners, NGOs, and governments to respond quickly to the unfolding crisis in Ukraine and surrounding countries. Although the firm’s response efforts are rapidly evolving, BCG is especially focused on supporting refugees and working to anticipate further humanitarian shocks to global food systems and beyond.