💸🔦 This week’s corporate CDR buyer spotlight: Boston Consulting Group (BCG) 💸🔦

This week’s spotlight showcases a company aiming to become climate positive from 2030, removing more carbon than it emits. BCG is a global strategy and management consulting firm with approximately 25,000 employees worldwide.

What are BCG’s climate commitments?

✈️ Committed to reaching net zero climate impact by 2030, BCG aims to reduce their footprint through significant reductions in emissions per full-time equivalent employee (FTE) and business travel emissions.

👣 BCG plan to remove their remaining footprint using effective nature-based and engineered solutions at an average cost of $80 per tonne by 2030.

💸 BCG are investing $400 million over the next decade to drive climate and environmental impact. What is BCG’s carbon dioxide removal (#CDR) buyer strategy?

💰 In June 2023, BCG signed a significant purchase agreement with @ CarbonCapture, a Direct Air Capture (#DAC) company, for 40,000 tonnes of CDR credits over a period of five years. This deal is the largest DAC offtake agreement in the professional services industry globally.

🤝 BCG is a founding member of NextGen, a partnership between South Pole Pole and the Mitsubishi Corporation Corporation. Backed by BCG and other buyers including LGT Private Banking, Mitsui & Co., Ltd., Swiss Re, and UBS, it aims to promote the market for high-quality, certified carbon dioxide removals (CDRs) from technological projects. Read more in my NextGen spotlight here.

🏭BCG see direct air capture (#DAC) as a critical technology to deliver net zero emissions. Having estimated that the cost of DAC needs to decrease from $600-$1,000 per ton of CO2 to below $200 per ton by 2050 to drive widespread adoption, BCG believe that affordable DAC is feasible but recognises the need for collective action to overcome barriers and drive down costs. Read more here.

BCG is leading the way for sustainability in the professional services industry with its bold and ambitious commitments to net-positive climate impact. Its contribution to NextGen allows BCG to access a diverse global portfolio of CDR technologies and storage solutions.

📢 Shoutout to the individuals at BCG working on CDR and other sustainability commitments: Christoph Schweizer, Thomas Bellec, Jan Wittmaack, Catalina Sánchez-Roa, PhD, Dr. Sebastian Rath, Daniel Padilla, Carl Clayton, Thilo Zelt, Jared Russell, Alex Dewar, Habib Azarabadi, Thomas Bellec, Alex Dewar, Rich Lesser, Karan Mistry, PhD, Oluseye 'Bayo' Owolabi, Katherine Phillips, Cornelius Pieper, Bas Sudmeijer