Boston Consulting Group (BCG) and its corporate innovation-focused arm BCG Digital Ventures launched BCG Green Ventures, a new offering and team aimed at supporting the development and growth of climate action-focused technologies and businesses.
BCG Green Ventures will power the development of the new technologies and businesses necessary to close the innovation gap, reduce CO2 emissions, and create growth opportunities. It will also enable corporates to deliver on their ESG strategy in a profitable and scalable manner. A further focus will be on enabling companies to foster collaboration, boost resilience, and support adaptation in an era that requires bold new commitments to climate and ESG goals.
“Many corporates have already committed to ambitious ESG goals, achieving these will take a strong embrace of innovation,” said Stefan Gross-Selbeck, BCG Digital Ventures Managing Director and Global Managing Partner and Rich Hutchinson, BCG Managing Director and Senior Partner in a statement announcing the launch of the new offering.
“BCG Green Ventures will play a key role in supporting companies in this work and building a sustainable future, helping to limit emissions, and working to develop the solutions required to rise to the climate challenge.”
At launch, BCG Green Ventures will prioritise high-impact decarbonisation ventures targeting the largest cross-sector sources of greenhouse gas emissions to drive climate action at scale. It will support corporations in the transition to a net-zero economy, bringing together deep sector-specific knowledge, strategic expertise, business building capabilities, and commercial know-how.
“The businesses we build will tackle both the operational decarbonisation side of the equation, addressing both Scope 1, 2, and 3 emissions, and the opportunity angle, supporting corporates through the inception and growth of new, green revenue streams,” says BCG.
The company is building on its broad, cross-sector climate and sustainability innovation expertise and experience, including more than 750 sustainability projects, supported by a strong ecosystem of connections across the climate innovation community.
Some of these projects involve working to limit emissions. Other work focuses on advancing new technologies with the potential to have a game-changing impact. One example of this is BCGDV’s work with Unifrax on SiFAB, a proprietary silicon fiber anode battery technology that enables greater energy density, faster charges, and longer battery life.
The launch marks a continued focus for BCG on climate and sustainability issues as the firm announced last September that it aims to reach net-zero climate impact by 2030 by reducing its carbon footprint and removing all remaining emissions through nature-based and engineered solutions. BCG also committed to investing 400 million US dollars (341 million euros) over the next decade in climate and environmental work across governments, industries, NGOs, and coalitions. Additionally, BCG Green Ventures aims to invest in each venture as a way of aligning more closely with its corporate partners and helping to ensure scalable impact.
“We are now at the tipping point of a major wave of climate and sustainability innovation,” underlined Stefan Gross-Selbeck and Rich Hutchinson. “Reaching net-zero emissions by 2050, avoiding the worst effects of climate change, and building a truly sustainable ecosystem will require nothing less than the transformation of every sector of the economy, with breakthrough innovation over the next two decades a prerequisite for success.”