Global consulting firm Bain & Company says it has achieved 100 per cent carbon neutral status for the ninth year in a row according to Natural Capital Partners, an internationally-recognized leading provider of carbon emission reduction and renewable energy solutions.
Since 2011, Bain & Company has reduced Scope 1 and 2 direct emissions by 68 percent, by converting to renewable electricity, improving the energy efficiency of its office spaces, and finding ways to reduce waste from its operations. The firm has set a goal to achieve a 90 percent reduction in emissions by 2040.
In 2019, Bain & Company’s total emissions footprint per full-time equivalent employee declined by more than 9 per cent.
Bain & Company says its carbon neutral status is the result of an employee-led effort to minimize the firm’s carbon footprint through local initiatives across its 58 offices, including energy-efficient workspaces, increased recycling and composting, and reduced paper usage.
“These activities complement firm-wide initiatives, such as server consolidation, increased tele/videoconferencing, and the purchase of renewable electricity. These combined activities constitute more than 97 percent of Bain’s electricity consumption,” according to a company statement.
Bain & Company fully offsets the unavoidable portion of its carbon footprint, including employee travel for client meetings, by investing in renewable energy technologies and conservation initiatives around the world. To date, the company has invested in 33 emission reduction projects in eleven countries—including preserving pristine Brazilian rainforests, enhancing India’s renewable energy capacity, reducing landfill gases in the US, and providing East African communities with renewable solar power. These projects are only financially viable because of the carbon-finance support they receive from companies like Bain & Company.
To achieve CarbonNeutral status, Bain & Company works with Natural Capital Partners and follows The CarbonNeutral Protocol which requires a rigorous and independent assessment of seven different greenhouse gas emissions, coupled with an offset-inclusive emissions reduction program.
Bain & Company also said that earlier this year it was named among the top 25 percent of companies globally for corporate responsibility by EcoVadis, the leading platform for environmental, social and ethical performance ratings for global supply chains.
As part of its $1 billion commitment to pro bono consulting, Bain supports leading nonprofits tackling critical environmental challenges. This includes a multi-year partnership with The Nature Conservancy, the world’s largest conservation organization, in which they have performed projects related to forest and land conservation, sustainable food production, and climate change.
“We are proud to again be recognized as a sustainability leader not only in our industry, but among global corporations,” said Sam Israelit, a partner with Bain & Company and the Environment lead in Bain’s Social Impact Practice. “We are continuously exploring new ways to reduce our environmental footprint, supporting the passions of our people, and helping our clients be better stewards of the environment.