The Edge Singapore
Winning the Race to Net Zero
While there has been a significant shift in net-zero ambitions over the last year, many companies are still struggling to implement their climate goals. Recent research by Boston Consulting Group (BCG) suggests more than 75% of companies with 2030 interim carbon reduction targets are expected to fall short of reaching these targets under their current trajectory.
Australian Financial Review
Demand for Electric Vehicles Continues to Grow Around the World
In the Australian Financial Review, BCG’s James Tilbury and Scott Nichols discuss why global demand for electric vehicles (EVs) is accelerating despite concerns over battery shortages and charging infrastructure. Citing a BCG report—which forecasts that battery electric vehicles (BEVs) will account for 20% of global light vehicle sales in 2025—they say European and US policies to cut carbon emissions from cars and incentives for consumers to switch to BEVs are among the factors driving demand.
Women’s Wear Daily
Cultural Credibility in Luxury Fashion
In Women’s Wear Daily, BCG’s Sarah Willersdorf discusses the future of the luxury fashion industry and what matters most to new consumers. The idea of “cultural credibility” has democratized the luxury and fashion space, she says, shifting its focus to the ideas of identity, belonging, and community. Willersdorf further elaborates on the industry’s evolution into Web 3.0 and “metacommunities,” where customers and audiences can meet, interact, and play more of an active role in a brand’s story and trajectory.
Financial Times
Global Wealth Grows to $530 Trillion Despite Turbulence
In the Financial Times, BCG’s Anna Zakrzewski discusses BCG’s 22nd annual Global Wealth Report, which finds that the world’s wealth has continued to grow even amid rising inflation, financial market turmoil, and the Ukraine crisis. The report forecasts that financial wealth and real assets will increase at 5% annually through 2026, adding roughly $80 trillion to the wealth pool. “For wealth managers prepared to seize the opportunity, the blueprint for growth is there for the taking,” she says.
Fortune
Is This the End of Low Interest Rates?
In Fortune, BCG’s Philipp Carlsson-Szlezak and Paul Swartz examine the sharp increase of short-term interest rates and whether the US economy could permanently return to higher long rates. They discuss the possible interest rate scenarios that could arise over the next few years, their driving factors, and what it would take for them to inflect. “While the interest rate environment in coming years will have a different look and feel from what we’ve known,” they predict, “it is unlikely to be a shift from a good to a bad backdrop.”
Harvard Business Review
Six Factors Driving Changes to Today’s Corporate Strategies
In Harvard Business Review, BCG’s Martin Reeves and Annelies O’Dea write about the need to reinvent corporate strategy in response to a magnitude of changes in the technological, social, and natural environments. They list six different factors that are driving these changes and placing new demands on corporate strategists: dynamism, uncertainty, contingency, connectedness, contextuality, and cognition.
The Edge Singapore
Expanding Singapore's Future As a Digital Technology Hub
Digital innovation is now the engine of economic growth, creating opportunities for cities and nations across the world. As a leading global business hub, Singapore is striving to unlock the greatest value from its own innovation-driven transition.
Nikkei Asia
BCG’s Rich Lesser: Selling Fossil Fuel Assets Is No Answer to Climate Change
In an interview with Nikkei Asia, BCG Global Chair Rich Lesser discusses the implications of organizations selling their most carbon-intensive assets, and why those sales might be “counterproductive behavior” in the fight against climate change. He urges activists and shareholders to focus on pushing companies to be more transparent on their climate impacts, on “where companies are, what they commit to improve, and how they commit to improve.”
The Washington Post
The Summer of Travel Chaos
Amid a wave of flight cancellations, BCG’s Adam Gordon shares his outlook on summer travel in The Washington Post. He predicts that flying in the summer will be challenging as the travel industry tries to adapt to a “new normal” and rebound from pandemic lows and worker shortages. “The ecosystem has become quite stretched as airlines try to meet this robust passenger demand and try to get everyone where they want to go this summer,” Gordon says. “The resiliency that we used to take for granted is no longer there.”
Australian Financial Review
Digital Transformation Is a Vital Battle for Businesses
In the Australian Financial Review, BCG’s Patrick Forth explains that understanding the importance of digital transformation is not enough to guarantee an initiative’s success. “Repeated surveys in recent years of business looking at digital transformation projects have found fewer than one in three delivers on its objectives,” he says. Companies must also work well cross-functionally to achieve success, adds Forth, aligning strategy and technology.
Financial Times
Expanding Commitments to Zero-Carbon Tech
In the Financial Times, BCG Global Chair Rich Lesser discusses the expansion of the First Movers Coalition, which aims to drive demand for zero emissions across the value chain of hard-to-abate sectors. BCG has committed to funding technologies that will lead to the removal of 100,000 tons of carbon from the atmosphere by 2030. Lesser says this is “an incredibly important demand signal” to help unleash the trillions of investment dollars needed for the climate transition.
City A.M.
Asset Management Industry Faces Turbulence After Years of Unprecedented Growth
In City A.M., BCG’s Chris McIntyre asserts that, despite global assets under management rising by 12% in 2021 to reach over $112 trillion, challenges for the industry lie ahead. “The incredible market run that has fueled the performance of the asset management industry over the past 15-plus years has been a double-edged sword,” he says, referencing BCG’s annual study of the industry. Past performance not only has provided strong tailwinds for the asset management sector, notes McIntyre, but also has challenged innovation.
Forbes
How to Reinvent Recruiting and Hiring for Today’s Non-Stop World
In her column for Forbes, BCG’s Deborah Lovich writes that employers must rethink their recruitment practices for today’s hyper-competitive job market. She outlines three changes organizations can make to their hiring processes to recruit more talent. “In today’s non-stop world, aim for hiring that’s ‘virtually immediate,’ not simply faster than it is now,” Lovich recommends.
BNN Bloomberg
Avoiding a Global Food Crisis
In an interview with BNN Bloomberg, BCG’s Shalini Unnikrishnan explains the urgent need to repair and rebuild the global food system to make it more equitable and resilient. “We’ve got this fragile food system that is highly interconnected and interdependent, and very exposed to shocks,” says Unnikrishnan. With 1.7 billion people currently at increased risk of poor nutrition, she outlines how the global community can address the current food crisis and avoid such emergencies in the future.
Financial Times
BCG Experts on the Business of Luxury
BCG’s Sarah Willersdorf and Veronique Yang speak to the Financial Times about the growth of the luxury market in the Middle East and China. Willersdorf explores how changes in retail policy have contributed to an uptick in luxury spending in the UAE, while Yang examines the post-pandemic recovery of the Chinese market.