Energy Efficiency, GHG Emissions - April 18, 2022
Bain & Company Sets Emission Goals
Bain & Company announced a move to achieve net-negative carbon status this year, including supporting nature-based projects to remove more than 100% of its 2021 Scope 1, 2, and 3 carbon emissions. The firm plans to achieve net-negative status every year going forward.
The company has committed to specifically supporting projects that remove carbon from the atmosphere, such as reforestation and direct carbon capture, instead of projects that seek only to avoid future emissions.
"To create real impact in the global fight against climate change, businesses need to lead the way and continuously push beyond the status quo," said Manny Maceda, Bain & Company's worldwide managing partner, in a statement. "After leading our industry with more than a decade of carbon neutrality, we asked ourselves how we could take our commitment to the next level. We are taking this bold next step because it's the right thing to do on behalf of our people, our clients and our broader communities."
Bain & Company follows a rigorous footprint calculation process, run by an external partner and third party verified in line with the CarbonNeutral Protocol. The firm works with additional outside partners, including Sylvera, Natural Capital Partners, and 3Degrees to ensure it is purchasing offset credits for carbon removal projects that meet the highest quality standards.
Among the nature-based carbon removal projects supported by the company are reforestation projects in Mexico, China, Guatemala, and Ghana and forest management projects in the U.S. and Uruguay this year.
Bain & Company reduced its Scope 1 and 2 direct emissions by 84% over the past 11 years by converting to 100% renewable electricity, improving the energy efficiency of its offices.
In 2021, Bain committed to Science-Based Targets and pledged to reduce its Scope 1 and 2 emissions by 30% by 2026 from a 2019 base year and to reduce its scope 3 emissions from business travel by 35% per employee over the same time period.
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