Global management consultancy Bain & Company announced today the launch of the Further Academy, a major upskilling initiative to provide post graduate-level ESG training to all of its global consultants.
Under the new program, described by Bain as “the largest move of its kind within the top tier management consulting sector,” each of the firm’s consultants at its 65 global offices will receive training from top universities and business schools including Massachusetts Institute of Technology (MIT), Imperial College London, HEC Paris, and Melbourne Business School (see below for full list of participating universities)*.
François Faelli, Global Managing Partner for ESG at Bain, said:
“Reaching net zero on a global scale requires a tremendous investment in ESG skills. The next generation of business leaders must intuitively understand how to balance financial and non-financial objectives.”
According to Bain, the move comes amidst a “global imperative” for companies to build sustainability into their businesses. Bain launched ‘Further’ last year, its integrated suite of ESG capabilities, working with clients to address challenges ranging from climate change to structural inequities and environmental degradation.
As demand from companies for support on sustainability, ESG and climate issues grows, several professional services firms have announced initiatives to upskill their employees. Earlier this week, Deloitte launched a new learning program aimed at enhancing its employees’ skills and capabilities on climate and sustainability issues, and earlier this month, PwC revealed that it has provided ESG training to 100,000 employees over the past year as part of its New Equation strategy. PwC stated that it is planning for ESG revenues to grow ten-fold over the next four years.
Under Bain’s new program, each consultant at the firm will be provided with forty hour post-graduate training modules delivered mostly through live sessions, with modules including climate change, the energy transition, sustainable development, business transformation, circularity and value chains, sustainable and equitable food systems, social justice, and diversity, equity and inclusion (DEI). The partner business schools will develop regionally tailored curricula, and the training will aim to equip each consultant to advise on ESG issues within their areas of expertise.
“As purpose becomes more important as a driver of strategy, bridging the gap between academic institutions and business through initiatives like this is crucial. With the implementation of this program across all areas of our business, consultants will be empowered to work alongside clients to co-create the future and generate lasting impact.”
*Academic institutions include: Massachusetts Institute of Technology Sloan School of Management; Solvay University, Brussels, Belgium; Antwerp Management School, Belgium; HEC Business School, Paris, France; SDA Bocconi School of Management, Milan, Italy; FUTURE Institute for Sustainable Transformation at ESMT Berlin Business School, Germany, and Circle Economy Foundation, Netherlands; Delft University of Technology, Netherlands; Wageningen University, Netherlands; IE Business School, Madrid, Spain; Stockholm School of Economics Executive Education, Sweden; Imperial College London, UK; Melbourne Business School Centre for Sustainability and Business, Melbourne, Australia.