Management consulting firm Boston Consulting Group (BCG) announced global sales of $11 billion for FY2021, backed by underlying revenue growth of 25%, continuing a trend of long-term growth. The firm’s Global Chief Executive Officer Christoph Schweizer cited strong client demand for climate and sustainability services as well as digital and artificial intelligence (AI) as two major drivers of growth.
“We have benefited from our multi-year commitment to invest in developing world-class capabilities,” said Schweizer in a press release. “Increasingly, we are bringing those capabilities together to support clients on their path to net-zero, and in the past few months BCG has also launched major partnerships with SAP and the Carbon Disclosure Project (CDP).”
In addition to the revenue reporting, BCG simultaneously announced the launch of a virtual hub focused on hiring Ukrainian talent, as part of its efforts to address the ongoing humanitarian crisis caused by the Russian invasion of Ukraine.
Climate has been a major focus for BCG in recent years. In 2020, the company invested nearly a quarter of a billion dollars into expanding its climate partnerships, also announcing its commitment to achieve net-zero climate impact by 2030 and to reduce its emissions intensity by half by 2025. BCG has also served as the consulting partner for COP26 and is providing support for the climate efforts of the World Economic Forum and the World Business Council for Sustainable Development. In 2021, the company joined Breakthrough Energy Catalyst as a founding partner along with firms such as Microsoft, ArcelorMittal, and BlackRock.
BCG also reported a record $320 million of investment in social impact work in 2021, including advancing education in Africa via its Teach For All program, efforts to build resilience in Egyptian food systems, and supporting COVAX with its COVID-19 vaccine program. Diversity, Equity, and Inclusion (DEI) was also a major topic, highlighting that today 44% of BCG staff are women, and that women lead BCG in three of the world’s largest economies: North America, China, and the U.K. The firm also reported that 51% of its new hires in the U.S. are from ethnic minority backgrounds and announced its launch of ethnic diversity networks in Europe, Australia, and Africa.