Strategy firm BCG pledges net-zero impact, eyes ‘carbon positive’ future

September 1, 2020 by  
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Strategy firm BCG pledges net-zero impact, eyes ‘carbon positive’ future Heather Clancy Tue, 09/01/2020 – 00:02 Business strategy organization Boston Consulting Group will use remote workplace lessons from the COVID-19 pandemic to reduce per-employee travel by at least 30 percent by 2025, one key element of the $8.5 billion company’s new commitment to achieve net-zero status for its own operations by the end of this decade.  It’s also planning an investment push that will see it fund carbon removal projects at a starting cost of $25 per metric ton in 2025, increasing to $80 per metric ton in 2030 — far higher than the amount companies traditionally pay to purchase carbon offsets on voluntary markets.  Both declarations are notable, for different reasons. The consulting industry traditionally has relied heavily on travel to deliver services — it represents 80 percent of BCG’s total footprint, for example. Reducing that activity is something that neither the consulting sector nor its clients would have imagined was possible at the end of 2019, BCG CEO Rich Lesser told GreenBiz. “We are in a period of unbelievable learning,” he said. “My expectation is we will find different kinds of models with less travel intensity.” While BCG hasn’t made any specific commitments about what that model might look like, Lesser said it could include using videoconferencing for certain sorts of engagements in the future rather than sending someone for an on-site meeting or arranging for consultants to work at client locations on a staggered, rotating basis rather than all at the same time. Within its own operations — it has 21,000 employees and offices in 50 countries — BCG is aiming to reduce direct energy and electricity emissions by 90 percent per full-time employee against a baseline measurement of 2018, according to the new set of commitments the company announced Tuesday. It previously committed to purchasing 100 percent renewable energy and will use energy-efficiency measures to fill the gap. Beyond 2030, BCG aspires to be “climate positive” — by removing more carbon dioxide emissions from the atmosphere on an ongoing basis than it actually emits through its own activities. While the company didn’t publicly identify projects in its press release about the new commitments, those investments will be for both nature-based and “engineered” solutions. “I suspect it will be a mix of both,” Lesser said, adding that BCG will prioritize “change the game” kinds of solutions. One example of an organization with which BCG already works is Indigo Ag, the company behind the Terraton Initiative, an effort to draw down 1 trillion tons of atmospheric CO2 through regenerative agriculture and soil wellness initiatives. Indigo is growing fast both in terms of funding and connections with farmers, which are hoping to get credit for the carbon sequestration potential of their agricultural practices. In early August, it added $360 million in new financing, bringing its overall total to $535 million. The Indigo Marketplace, where it links growers prioritizing sustainability practices directly with grain buyers, has completed more than $1 billion in transactions since September 2018. ‘The model has yet to be fully proved out, but there is massive capacity,” Lesser said. Aside from its own commitments, BCG also has pledged up to $400 million in services — such as research or consulting support through its Center for Climate Action — to support environmental organizations, industry groups, government agencies and others working on net-zero projects. It works on more than 350 such projects with more than 250 organizations, including the World Economic Forum, WWF and the World Business Council for Sustainable Development. How does BCG’s new pledges compare with other leading business consulting firms? McKinsey & Company declared carbon neutrality in 2018 and has set emissions reductions in line with the Paris Agreement, including a 60 percent reduction in purchased energy by 2030 and by 90 percent by 2050. It also has been active in engaging its suppliers — including 50 of the world’s largest airlines and five of the biggest hotel groups — on how to improve environment performance. And it has a large sustainability practice, focused on helping other businesses reduce their own impact. Another business consulting heavyweight, Bain & Company, was declared carbon neutral by Natural Capital Partners in 2012. It has reduced its direct emissions by 70 percent since 2011, with a pledge to reach 90 percent by 2040. It committed to delivering up to $1 billion in pro bono consulting work for social impact projects between 2015 and 2025. (So far, it has delivered about $335 million.) Topics Corporate Strategy Carbon Removal Net-Zero Featured in featured block (1 article with image touted on the front page or elsewhere) Off Duration 0 Sponsored Article Off

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Strategy firm BCG pledges net-zero impact, eyes ‘carbon positive’ future

New study finds food waste will increase to 66 tons per second if left unchecked

August 21, 2018 by  
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A new analysis from Boston Consulting Group (BCG)  has found that global food waste will increase by more than 30% by 2030 if no action is taken. The figures themselves are even more alarming: a total of 2.1 billion tons of food is projected to be thrown away or, in the case of perishables, lost; this amount equates to a colossal 66 tons per second. Related: Dairy farmers’ excess milk gets a second life feeding the hungry Currently, about 1.6 billion tons of food goes to waste each year, which represents $1.2 trillion worth of food and accounts for 8% of yearly global green house emissions. And, while food loss awareness is on the rise, global attempts to deal with the issue are not. According to Shalini Unnikrishnan, a partner and managing director of BCG, attempts to deal with food waste are “fragmented, limited and ultimately insufficient given the magnitude of the problem,” In fact, the probelm will only get words as countries continue to industrialize. “As population grows rapidly in certain industrializing parts of the world, like in Asia, consumption is growing very rapidly,” Unnikrishnan observed. Related: The Agraloop turns food waste into sustainable clothing fibers One possible solution, according to BCG, is the creation of an ecolabel, such as those found on fair trade products. This ecolabel would let consumers know which companies have committed to reducing waste and make it easier to buy responsibly. However, “The scale of the problem is one that will continue to grow while we’re developing our solutions,” Unnikrishnan said. The UN hopes to halve food waste by 2030, but if governments, companies and consumers don’t make significant changes in the way they approach food – and work together to do it – there is little chance of this happening. According to Unnikrishnan, “It’s not an easy problem, no single country, no single entity can solve the entire problem on their own.” + Boston Consulting Group Via The Guardian

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New study finds food waste will increase to 66 tons per second if left unchecked

Spectacular town hall doubles as a bridge in Denmarks Faroe Islands

August 21, 2018 by  
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When Copenhagen-based Henning Larsen Architects was tapped to design the Town Hall in Eysturkommuna, the firm knew that there would be no point in trying to compete with the sublime Faroe Islands setting. Sculpted by wind and volcanic forces, the lush Nordic landscape instead provided inspiration for the building, which doubles as a bridge over a river and appears as a green-roofed extension of its surroundings. Blurring the line between nature and building, the Town Hall pays homage to traditional Faroese architecture with a new contemporary twist. Located in the village of Norðragøta, the Town Hall in Eysturkommuna is a subtle addition to the lush landscape that was created to help revive the local community. With an area of 750 square meters, the building is remarkably small for a town hall , yet what the structure lacks in size it makes up for in dramatic views. Doubling as a bridge, the angular building unites what used to be two separated municipalities and is partly wrapped in full-height glazing to frame stunning vistas of mountains and water. A circular mirror-lined glazed opening was also inserted into the floor to allow views of the rushing river below. “A central theme in traditional Faroese architecture is the blurred line between nature and building, the fact that the spectator has difficulties distinguishing where the landscape ends and the building begins,” explains Ósbjørn Jacobsen, Partner at Henning Larsen. “The primary conceptual idea behind the design of the town hall is driven by the notion of this fleeting line between landscape and building. I believe that could be one way to approach modern Faroese architecture.” Related: Danish architects deck out Viborg town hall with green roofs and solar panels The public is not only invited to enjoy the interior of the Town Hall, but they are also welcome to use the terraces and green roof for picnics or to even swim in the river. To heighten the building’s connection with the site, artist Jens Ladekarl Thomsen created an exterior sound and light installation that draws from the sounds and structure of the local neighborhoods and nature and “lets passersby believe the ‘house speaks’ of its surroundings.” + Henning Larsen Architects Images by Nic Lehoux

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Spectacular town hall doubles as a bridge in Denmarks Faroe Islands

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