The Boston Consulting Group (BCG) and its digital arm BCG Digital Ventures (BCGDV) have launched a new enterprise aimed at partnering with corporates to invest in, co-build, and scale high-impact decarbonisation ventures.
The new offering, BCG Green Ventures, will have a dedicated team focused on accelerating climate action through innovation, with an emphasis on new technologies that reduce CO2 emissions and helping its corporate partners to deliver on their ESG strategies.
In a blog post announcing the venture, the company said that BCG Green Ventures will bring together "sector-specific knowledge, strategic expertise, business building capabilities, and commercial know-how" to support corporations in the transition to a net-zero economy.
An additional focus will be on fostering collaboration, boosting resilience, and supporting adaptation "in an era that requires bold new commitments to climate and ESG goals," says the post, which was written by BCGDV managing partner Stefan Gross-Selbeck, and BCG managing director and senior partner Rich Hutchinson.
The businesses the new venture intends to build will address both operational decarbonisation, by addressing scope 1, 2, and 3 emissions, and the opportunities coming from new climate-related revenue streams.
BCG has already founded more than 750 sustainability projects, some involving emissions reductions, such as BCG CO2 AI (which tracks ghg emissions along the value chain) and Utopus Insights, built with IBM, which develops digital solutions that accelerate the integration of renewable energy into the electrical grid.
In September 2020, BCG revealed that it aims to reach net-zero climate impact by 2030 by reducing its own carbon footprint and removing remaining emissions through nature-based and engineered solutions. It also promised to invest $400m over the next decade in climate and environmental work across governments, industries, NGOs, and coalitions (EA 09-Feb-21).
BCG Green Ventures will invest in each newly launched venture with a view to ensuring scalable impact.
Sourced from Environment Analyst