Key Impact Points:
- BCG aims to reduce emissions intensity by 50% by 2025 and achieve carbon neutrality through 100% carbon removal by 2030.
- Cutting-edge partnerships with DAC and SAF providers are central to reducing BCG’s carbon footprint.
- BCG’s carbon budgets and nature-based investments enhance accountability across teams and regions.
Leading with Bold Commitments
In 2020, Boston Consulting Group (BCG) committed to a comprehensive climate action plan, setting industry-first targets for emissions reduction and carbon neutrality by 2030. BCG’s vision includes “becoming climate positive beyond 2030”—removing more carbon than it emits each year.
BCG’s targets include:
- Reducing energy-related emissions by 92% per full-time employee (FTE) by 2025
- Lowering business travel emissions by 48.5% per FTE by 2025
- Neutralizing all remaining emissions by 2030 through carbon removal solutions
Embracing Sustainable Travel and Energy Practices
To meet these goals, BCG adopted new travel practices and energy measures to minimize emissions:
- Energy Shifts: BCG transitioned to 100% renewable electricity across offices and is moving to a hybrid and electric fleet. This reduced direct energy emissions by 95% per FTE.
- Travel Reduction: In 2023, BCG cut travel-related emissions by 62% per FTE compared to 2018. Intentional travel decisions and “purposeful colocation practices” for teams contributed to this decrease.
Scaling Carbon Removal Solutions
BCG has reinforced its carbon reduction strategy by investing in carbon removal technologies:
- Direct Air Capture: BCG partnered with Climeworks, CarbonCapture Inc., and 1PointFive, securing long-term agreements to remove CO2. This positions BCG among the top purchasers of carbon removal globally.
- Nature-Based Solutions: With half of its current carbon credits sourced from nature-based projects, BCG ensures rigorous verification and commitment to biodiversity and climate resilience.
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BCG will achieve a 100% carbon removal credit portfolio by 2030, fully offsetting emissions annually and supporting a high-integrity carbon market through verified projects.
Implementing Carbon Budgets for Accountability
To ensure ongoing accountability, BCG established internal carbon budgets by region and business unit, supported by tools like emissions simulators and sustainability playbooks. Starting next year, costs for climate-related actions—such as carbon credits and SAF—will be allocated to these budgets. Leaders who remain within budget will see lower costs, creating direct incentives for managing carbon impact effectively.
Looking Ahead
BCG has set new SBTi-validated targets alongside its 2030 goals:
- Reducing Scope 1 and 2 emissions by 85% by 2025 compared to 2018
- Reducing Scope 3 emissions by 58% per FTE by 2030
- Achieving net-zero emissions across its value chain by 2050
These initiatives demonstrate BCG’s commitment to “supporting clients with their net zero transitions” and leading industry change through innovative climate strategies. BCG’s journey reflects a model of continual adaptation and commitment to learning in the evolving climate landscape.
Related Article: Unlocking Capital for Climate and Development: Global Cooperation is Key, Says BCG
