US management consulting firm Bain & Company has announced its ambition for net-negative carbon status this year.
That means it will support nature-based projects to remove more than 100% of its 2021 Scope 1, 2 and 3 emissions.
It will invest in projects that remove carbon from the atmosphere, such as reforestation and direct carbon capture, instead to those that seek to only avoid future emissions.
This year, it is supporting seven carbon removal projects, including reforestation projects in China, Ghana, Guatemala and Mexico and forest management projects in the US and Uruguay.
In 2011, Bain & Company was said to have become the first consulting firm to achieve 100% carbon-neutral status.
Over the last 11 years, it has reduced Scope 1 and 2 emissions by 84% through initiatives such as switching to 100% renewable electricity and improving the energy efficiency of its offices.
Last year, the company committed to Science-based Targets initiative, pledging to reduce its Scope 1 and 2 emissions by 30% by 2026 and Scope 3 emissions from business travel by 35% per employee during the same time period.
Manny Maceda, Bain & Company’s worldwide managing partner said: “To create real impact in the global fight against climate change, businesses need to lead the way and continuously push beyond the status quo.
“After leading our industry with more than a decade of carbon neutrality, we asked ourselves how we could take our commitment to the next level. We are taking this bold next step because it’s the right thing to do on behalf of our people, our clients and our broader communities.”