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Letter from Manny 2022

Letter from Manny 2022

Sustainability is at the heart of our business. Our mission is to help our clients create such high levels of value that together we set new standards of excellence in our respective industries. Now more than ever, we are living out our mission by defining that value in economic, environmental and social terms. We are bringing the full force of our talent and passion to help address some of the world’s most urgent challenges – including the impacts of climate change, environmental degradation and structural inequities.

The need for bold action has never been clearer, and our mission has never been more urgent. Our integrated impact practice, Further℠, encompasses our Sustainability & Responsibility, DEI and Social Impact work and the many environmental and DEI commitments we’ve made as a firm. Further represents our collective ambition to create a more sustainable, equitable, and inclusive world. Today, more than 2,500 colleagues are actively involved in this work.

Within our firm, we manage our own environmental impact through our internal Sustainability@Bain program, and we advance equity through DEI@Bain. We bring positive impact to our communities through our commitment of delivering $1.1B of pro bono consulting by 2025, working with leading nonprofits through our Social Impact practice.

We’ve made significant progress in advancing sustainability across our firm, clients and communities in 2021, notably:

  • We’re taking an aggressive stance on decarbonization. We announced our commitment to achieve net-negative carbon status – meaning we have invested in nature-based projects to remove more than 100% of our scope 1, scope 2 and scope 3 carbon emissions for 2021. We plan to achieve net-negative status every year going forward.
  • We are committed to a diverse and inclusive culture, having embedded inclusion into leadership training across global teams and 100% of our new senior managers have been trained on how to be more inclusive leaders. To further support all Bainies on their own DEI journeys, we have built out a locally delivered pod-based experiential DEI curriculum and established regional learning sessions.
  • We are rapidly expanding our ESG business as we work to embed ESG within 100% of our industries and capabilities. Over the past two years our ESG business grew 60%+ and we completed 500+ ESG cases, including projects tackling carbon emissions and the energy transition, collaborations with leading companies on their overall ESG strategies and transformations and work with investors to craft optimal ESG investment strategies.
  • We have built an ecosystem of partners to deliver end-to-end carbon transition solutions to our clients. This year we announced partnerships with multiple best-in-class organizations including Persefoni (the #1 climate disclosure and carbon management platform) and Jupiter (the leading provider of predictive data and analytics for climate risk management and resilience).
  • We are working with partner organizations to advance underrepresented communities. We have invested to help close the racial wealth gap by working to provide one million jobs within 10 years to Black Americans without a four-year degree in the US as a founding partner of the OneTen organization. In the UK, we have been partnering with leaders in the financial services and energy sectors to advance gender diversity in leadership through projects like the Women in Finance Charter Blueprint and joint research with POWERful Women.
  • We set our Science Based Targets, committing to reduce our scope 1 and 2 emissions 30% by 2026 and to reduce our scope 3 emissions intensity from business travel by 35% per employee over the same time period.
  • We appointed François Faelli as our first-ever Global Managing Partner of ESG, focused on helping our clients navigate the remarkable challenges and opportunities along their sustainability transformations.
  • We’ve created a procurement function dedicated to sustainable procurement and supplier diversity.
  • We began reporting to the United Nations Global Compact at the Advanced level, committed to responsible business practices in the areas of environment, human rights, labor and corruption.
  • We achieved a Gold EcoVadis rating and an A- rating from CDP, the leading sustainability reporting platform for investors and companies.

We will continue to grow and scale our ESG work with clients and more deeply embed sustainability and diversity into our procurement practices. We will continue to advance on our DEI journey, and to drive carbon emission reductions and sustainable practices across all aspects of our operations. We will continue to support our global network of employee-led Green Teams in their efforts to drive sustainability at the local level.

Along the way, we will adapt and grow. We will be transparent in our progress. As an employer, as a partner to our clients, and as a champion for global communities, every day we are challenging ourselves to find new ways forward.

Manny Maceda

Worldwide Managing Partner

Further℠ is a service mark of Bain & Company, Inc.