COP28: Combatting Climate Change Requires Innovative Solutions and Strategic Partnerships

Line Eriksen, the Associate Partner at Bain & Company, says her company has built an ecosystem of partners to deliver end-to-end carbon transition solutions to its clients

Please tell us about your efforts to ensure a sustainable and equitable digital future.
Our commitment to sustainability aligns with our unique approach to change management. We help clients define a bold ambition and achieve extraordinary results that redefine industries. Our integrated expertise in sustainability extends across strategy, operations, and digital transformation. By working collaboratively with ambitious clients who seek to shape the future, we ensure that sustainability is embedded into every facet of their strategy and operations, fostering multi-stakeholder collaborations for enduring transformations. Starting with our 2021 carbon footprint, Bain is net-negative carbon, offsetting more than 100% of Scope 1, 2, and 3 emissions with nature-based carbon removal projects. The firm plans to achieve net-negative status every year going forward.

What is your commitment to combatting climate change?
We are deeply committed to combatting climate change through innovative solutions and strategic partnerships. Recognizing the challenges in sustainability transformations, we are proud to address this issue head-on. Our collaboration with Persefoni has resulted in the creation of the Net Zero Navigator—a groundbreaking tool designed to overturn the odds of achieving sustainability targets.

This powerful platform allows organizations to swiftly generate emissions baselines, evaluate industry-specific actions, and compare decarbonization pathways. For Private Equity and other investors, we offer services such as PE Portfolio Carbon Scan and Carbon Value Creation Plans. Corporates benefit from solutions like Rapid Carbon X-Ray, Carbon Transformation Catalyst, Operations, and Supply Chain Decarbonization, along with Accelerated Performance Transformation. These offerings underscore our commitment to providing comprehensive, tailored strategies for achieving net zero.

In 2022, we launched The Further Academy Programme, a global ESG training initiative for its consultants. The Middle East office hosted five training sessions, where consultants from all three offices in the region underwent specialised post-graduate-level training by professors from HEC Paris. This in-person, full-day training, repeated over a week for each consultant batch, focused on sustainability fundamentals. This comprehensive upskilling initiative has been implemented across all global regions. It underscores Bain’s commitment to supporting sustainable transitions and aims to integrate ESG principles into 100% of client work.

What sort of trends do you foresee in the areas of sustainability and technology?
The top emerging sustainable technologies according to the World Economic Forum (WEF) believe will positively impact society over the next three to five years are the following:

  1. Sustainable Aviation Fuel (SAF): Addressing the aviation industry’s emissions, SAF presents a potential solution, supported by initiatives like SAF credits.
  2. Wearable Plant Sensors: Catering to global food demands, these sensors offer real-time data for crop optimization, water reduction, and disease detection.
  3. Sustainable Computing: Technologies like water cooling and AI-driven energy optimization aim to make data centres more sustainable, with innovative collaborations, such as utilizing data centre heat for public facilities.
  4. Generative AI: Advancing rapidly, generative AI finds applications in designing processes and improving energy forecasting, emphasizing the need for ethical considerations.
  5. AI in Healthcare: Revolutionizing healthcare, AI aids diagnosis, treatment recommendations, and patient care, streamlining tasks and enhancing support.
  6. Metaverse for Mental Health: Led by Meta, the metaverse holds potential for mental health treatment through immersive virtual reality environments.
  7. Flexible Batteries: Lightweight and bendable, these batteries have transformative potential in the healthcare, automotive, and fashion industries.
  8. Flexible Neural Electronics: Tackling the limitations of traditional brain-machine interfaces, flexible neural electronics aim for less invasiveness and greater effectiveness.

These trends underscore our commitment to guiding clients through the evolving landscape of sustainability and technology.

How do you envision your role in shaping a more sustainable future in 2024 and beyond?
Our role in shaping a more sustainable future is pivotal, reflecting our insurgent mindset. Through initiatives like the Net Zero Navigator and ongoing partnerships, we empower organizations to achieve sustainability goals efficiently. By working collaboratively with clients who seek to define the future, we ensure that sustainability is not just a goal but a driver of enduring results that redefine industries in 2024 and beyond.

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).

How are you aligning your sustainability initiatives in line with the themes of COP28?
Our alignment with COP28 themes is inherent in our uniquely collaborative culture. By actively participating in panel discussions, breakthrough initiatives, and showcases with breakthrough energy start-ups, we contribute expertise to topics such as supply chain decarbonization and industrial decarbonization. Our engagements, including a networking reception and discussions on sustainability and innovation, underscore our dedication to advancing the global climate agenda. This aligns seamlessly with our commitment to helping clients define the future and achieve extraordinary results.

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