Bain to Slash Emissions from Business Travel
Global consultancy Bain & Company has committed to cut emissions from business travel by 35% over the next five years, as part of a new set of sustainability goals announced today.
Business travel is typically a primary source of Scope 3 emissions for professional services firms. Bain has also unveiled new targets to reduce the climate impact of its own operations, aiming to further cut emissions from activities such as powering and heating its offices by 30% over the next five years.
The company stated that it will also continue to invest in high-quality carbon removal projects, both nature-based reforestation and the implementation of green technologies.
Torsten Lichtenau, Bain partner and global head of the firm’s Carbon Transition impact area within its Sustainability & Responsibility consulting practice, added:
“Like most businesses, the pandemic gave us a chance to step back and reimagine the ways we’ve historically worked. One area where we’ve decided to go above and beyond is optimizing carbon emissions associated with travel. The pandemic proved there are times when we can still be extraordinarily effective with our clients by leveraging technology to collaborate in a hybrid work environment.”
According to Bain, the new goals come on top of the firm’s achievements of reducing Scope 1 and 2 emissions by 68% over the past decade and converting to 100% renewable electricity. The firm has also turned its attention to initiatives aimed at helping clients follow their own sustainability journeys and pursue opportunities from the emerging green economy.
Sam Israelit, Bain’s Chief Sustainability Officer, said:
“We are long past picking low-hanging fruit, and we are following the same advice we give to our clients: setting audacious goals that are realistic and measurable. Our firm is hyperfocused on mitigating the impact of our emissions on the environment and accelerating our carbon transition. We continue to lead the way in our own industry while also equipping our clients and nonprofit partners to do the same.”