BCG Accelerates Climate Efforts on the Road to Glasgow as it Is Announced as the Consultancy Partner for the 2021 UN Climate Conference
LONDON—Boston Consulting Group (BCG) is expanding its climate and sustainability capabilities by transforming its existing Center for Climate Action into a global BCG Center for Climate & Sustainability, bringing together over 550 experts across the firm. It comes as the firm is announced as the Consultancy Partner of the 26th United Nations Climate Change Conference of the Parties (COP26).
As part of this push, BCG is establishing Center for Climate & Sustainability teams in BCG offices around the world. These will incorporate expertise across the full range of sustainability topics, including decarbonization, climate innovation, transition financing, biodiversity, waste management, circular economy, sustainable agriculture, water management, and other ESG topics material to all sectors.
Building a New Center for Climate & Sustainability
The expansion builds on the launch of BCG’s Center for Climate Action in 2019. Initially focused on energy and industrial goods clients, the Center has broadened its focus and has served over 300 clients on 750 climate-related projects across a wide range of sectors since its founding.
The development follows BCG’s announcement last September that it aims to reach net-zero climate impact by 2030 by reducing its carbon footprint and permanently removing any remaining emissions through nature-based and engineered solutions, while also committing to invest $400 million over the next decade in climate and environmental work across governments, industries, NGOs, and coalitions.
Previous BCG research has shown that 70 to 80% of the Paris Agreement goals are achievable with existing technologies, and full decarbonization of the world’s major supply chains will only incur a 1 to 4% cost increase for end-consumer products. Fifty percent of our global economy depends directly on nature, and $100-150 trillion of investment is needed in the coming three decades to help protect the planet through financing the decarbonization transition and transforming companies and sectors.
Becoming the Consultancy Partner for COP26
The COP26 summit, hosted by the UK in Glasgow this November, will bring parties together to accelerate action towards the goals of the Paris Agreement and the UN Framework Convention on Climate Change.
BCG’s role as Consultancy Partner complements its other efforts to help shape the global climate agenda through partnerships with the WEF (World Economic Forum), WWF (World Wide Fund for Nature), TED Countdown, SBTi (Science Based Targets Initiative), and CDP (Carbon Disclosure Project).
“We are at a critical juncture in the fight against climate change, and there is nothing more urgent than finding a path to net zero. In order to avoid irreversible damage, global emissions must be cut in half by 2030 to stay on track with Paris Agreement goals and reach net zero by 2050. This is not easy, but for business it represents both an imperative and opportunity to achieve sustainable competitive advantage. COP26 represents a pivotal moment in the global drive for businesses, governments, and society to take decisive action, and we are honored to be able to play a role in this,” said Rich Lesser, CEO of BCG.
COP26 President Alok Sharma said, “I am pleased to welcome Boston Consulting Group as a COP26 Partner. By committing to reach net zero, and setting science-based targets to achieve this goal, they are joining the growing number of businesses committed to reducing their environmental impact and helping to drive decarbonization. I look forward to working with BCG in the months ahead as we continue to make progress ahead of COP26.”
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