We have set aggressive emissions reduction targets in line with the Science Based Targets Initiative's 1.5^oC pathway. We have committed to cut our scope 1 and 2 emissions 30% by 2026 (from a 2019 base year) and to reduce our scope 3 emissions from business travel by 35% per employee over the same period.

In 2011, we were the first of our peers to become certified Carbon Neutral. This year, we led the way again by being the first in our industry to achieve net negative carbon emissions. This means Bain purchases sufficient carbon credits funding high-quality, nature-based and innovative carbon removal projects to offset more than 100% of our scopes 1, 2 and 3 carbon emissions. And we intend to achieve net negative carbon emissions status every year going forward, continuing at the same time to reduce absolute emissions in line with our science-based targets.

We work with outside partners to source high quality removal offset projects. In 2022, we supported seven nature-based carbon removal projects, including reforestation projects in Mexico, China, Guatemala, and Ghana, as well as forest management projects in the United States and Uruguay. We will continue to increase the quality of our portfolio, investing in long-term and permanent carbon storage solutions in the coming years.

Because the COVID-19 pandemic required remote work and lessened business travel, we achieved a reduction well beyond our targets in 2021. Against a 2019 baseline, we reduced our scope 1 and 2 emissions by 55% and we reduced our scope 3 business travel emissions by 92% per full-time employee. This reduction was greatly influenced by our pandemic safety protocols. Understanding that, we will only consider our targets truly met when we have achieved sustained reduction in emissions.

We are re-evaluating our understanding of essential travel.

We work closely with clients to determine how to deliver results while ensuring responsible travel. We give our teams the tools and information they need to make the thoughtful decisions that reduce our climate impact. In 2023, we will deploy carbon budgets for all major functions and practices across our firm to reduce non-client travel emissions.

Supporting the development and adoption of Sustainable Aviation Fuel (SAF)

We joined the Sustainable Aviation Buyers Alliance in support of SAF technology, which can reduce carbon emissions by up to 80% over its lifecycle when compared to conventional jet fuel. We have committed to purchase enough SAF to cover all North American recruiting flights during the 2022-2023 recruiting cycle and intend to purchase larger amounts of SAF over the next five years.

Green Teams

Our Green Teams are critical to our success in achieving our climate commitments, bringing new ideas and passion to help us minimize our carbon footprint. The Green Teams in our Germany and Switzerland offices implemented a green travel bonus to encourage alternatives to air travel. Approximately 165 employees took advantage of the opportunity with more than 400 trips taken by train or bus rather than by plane. This prevented the emission of 45+ tons of carbon in 2021.

We are recognized for our commitment to sustainability: