Global consulting firm Bain & Company recently announced a sustainability-focused strategic partnership with Schneider Electric, a sustainability and engineering consulting business dedicated to decarbonization and energy management.
The newly-launched initiative will combine Bain’s consulting expertise in decarbonization and its manufacturing-specific capabilities in operational delivery, supply chain enhancement, and performance improvement with Schneider Electric’s experience in strategically crafting and executing energy use and carbon reduction transformations for client companies. The partnership follows on a series of previously successful collaborations that have delivered the best of both companies’ combined expertise to clients.
"At Bain & Company, we are constantly enhancing the breadth and depth of our capabilities and expertise to help our clients accomplish their ESG goals and secure the greatest potential and value from their decarbonization and energy efficiency journeys. Our partnership with Schneider Electric will be a critical accelerator of our ambition in this arena, providing us with a key partner as we work with leading companies to forge a more sustainable and profitable future for their businesses, investors, and communities," said Hernan Saenz, Partner and leader of Bain's Global and Americas Performance Improvement practice.
Bain itself has been carbon neutral since 2011, and in April 2022 it announced a pledge to be net carbon negative in every year going forward, as well as a commitment to science-based target emissions reductions. The firm’s multi-year ESG commitments will see it remove more than 100% of its scope 1, 2, and 3 carbon emissions through supporting carbon extraction and storage projects.
Schneider Electric has also established itself as a leader in global sustainability, offering a network of more than 2,500 experts spread across more than 100 countries focused on renewable energy procurement, ESG, efficiency, and energy and carbon management. The firm manages more than $40 billion in energy spend on behalf of its clients and is the world’s leading corporate energy advisor.
The partnership comes at a time when more than 4,000 companies have made public commitments to achieving science-based decarbonization targets over the next 25 years. With many companies struggling to make good on their promises and regulators and investors bringing increased focus to their efforts, there is a growing urgency for businesses to act decisively to deliver on their pledges and transform their companies.