Bain & Company announced it has signed the “Business Ambition for 1.5? C” commitment letter as part of the Science Based Targets Initiative (SBTI) and will achieve 100% net-zero carbon across all of its operations by 2030.
The firm says it will develop new targets, based on climate science and objective data, and approve specific targets for all emissions by the end of the year. As the firm started to reach its emissions reduction targets, the Bain leadership team realized they needed to continue to develop more ambitious plans.
Bain & Company first achieved 100% certified CarbonNeutral status nine years ago. Since 2011, the company has reduced its Scopes 1 and 2 direct emissions by 68%, with a goal of achieving a 90% reduction by 2030. In addition, it has reduced its total carbon intensity, a measure of the total amount of carbon emitted adjusted for growth in its business, by almost 16% to 12.3 tCO2e per FTE, the lowest emission intensity level achieved in its peer group.
The firm says it has converted 93% of its operations to renewable energy sources and will reach 100% by the end of the year. It has focused on increasing the energy-efficiency of its office space as well as reducing waste in its operations, and it has upgraded its sourcing processes to include sustainability as part of its supplier evaluation criteria. Additionally, the firm is working with its technology team to reduce the electricity consumed by its IT infrastructure and minimize electronic waste.