Bain & Company and Schneider Electric forge new partnership to advance global corporate decarbonization

Bain & Company announced a worldwide strategic partnership with Schneider Electric, a leading global sustainability and engineering consulting business focused on energy management and decarbonization.

Over 4,000 businesses have pledged to meet science-based carbon reduction objectives over the following 25 years, but many are having difficulty doing so. Companies are under even more pressure to take action as a result of increased investor demand and escalating compliance regulations on emissions, climate risk, and transparency.

The new partnership will bring together Schneider Electric's industry-leading experience in strategically designing and implementing clients' carbon reduction and energy use transformations with Bain & Company's deep advisory expertise in decarbonization and its capabilities across industries in manufacturing excellence, including supply chain enhancement, performance improvement, and operational delivery. The cooperation comes after a number of current, extremely successful partnerships that have shown the value of the companies' combined expertise for 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 Performance Improvement practice.

“The global demand for corporate decarbonization has accelerated rapidly, driving new pressures for companies to make meaningful progress on energy efficiency, renewable energy procurement, and electrification,” said Steve Wilhite, President of Schneider Electric’s global Sustainability Business. “Our partnership with Bain & Company will advance decarbonization and the energy transition for our clients, driving greater resilience and faster results.”

Strong sustainability commitments and record

Announcing its commitment to science-based target emissions reductions and its intention to become net carbon negative every year going ahead, Bain & Company, which has been carbon neutral since 2011, made these announcements in April. As a result, the company will be able to offset more than 100% of its scope 1, 2, and 3 carbon emissions by aiding initiatives that remove carbon from the atmosphere. This is a component of the audacious, long-term ESG promises made by Bain, as detailed in our 2022 ESG report.

The company started its Sustainability and Responsibility Practice more than ten years ago, and over the last five years it has seen the area grow by more than 65% annually. During this time, its consulting teams have worked on more than 950 sustainability projects, including more than 800 that had anything to do with climate transition cases. In conjunction with 12 prestigious universities, Bain created the Further Academy in September with the goal of training all consultants in ESG within a few months.

The new partnership will take advantage of Schneider Electric's expanding portfolio of digital decarbonization solutions and its network of more than 2,500 experts in more than 100 countries in the fields of energy and carbon management, renewable energy procurement, ESG, and efficiency. Schneider Electric is also a well-known global sustainability leader. The business, which manages more than $40 billion in yearly energy expenditures on behalf of its clients, is the top corporate energy advisor in the world. Since 2014, it has provided advice on hundreds of utility-scale renewable PPA agreements.

Schneider was recognized as one of the top 10 firms in the world in the Corporate Knights Global 100 Index in 2022, and it recently announced that it had been named to the CDP "A" list for a record-breaking 12 years running. By 2050, the corporation intends to have net zero emissions throughout the whole value chain of operations. Schneider started its Zero Carbon Project in 2021 with the aim of assisting its top 1,000 suppliers in cutting emissions by 50% by 2025.

(Source : ESG News)