From October 31 to November 12, 2021, Glasgow will host the 26th United Nations Climate Change Conference, chaired by the United Kingdom, and Boston Consulting Group has been named a consulting partner of the conference.

The UK summit aims to bring all parties together to intensify and accelerate action on the goals of the Paris Agreement and the UN Framework Convention on Climate Change. The key goals of COP26 are the following (ukcop26.org):

  • to achieve global net zero by mid-century, which requires countries to set ambitious targets for emission reductions by 2030, consistent with achieving net zero by 2050 by phasing out coal, reducing deforestation, switching to electric vehicles, and encouraging investment in renewable energy sources;
  • adaptation to protect communities and natural habitats through cooperative efforts and work to enable and encourage countries affected by climate change to protect and restore ecosystems, build resilient infrastructure and agriculture;
  • mobilization of funding to achieve the first two goals described above, for which developed countries need to mobilize $100 billion per year, with a special role to be played by international financial institutions;
  • the fourth goal is for governments, businesses and civil society to work together to achieve the goals and solve the problems associated with the climate crisis.

Boston Consulting Group's collaboration with COP26 as an Consultancy Partner is in addition to the company's other partnerships to help shape the global climate agenda with the World Economic Forum, World Wild Fund for Nature, TED Countdown, the Science Based Targets Initiative, and the Carbon Disclosure Project (www.bcg.com).

BCG's press release expresses the views of Alok Sharma, president of COP26: "I am pleased to welcome Boston Consulting Group as a partner of COP26. By committing to zero emissions and setting science-based targets to achieve this goal, they join the growing number of companies seeking to reduce their environmental footprint and promote decarbonization. I look forward to working with BCG in the coming months as we continue to make progress ahead of COP26" (www.bcg.com).

For his part, BCG CEO Rich Lesser said: "We are at a critical juncture in the fight against climate change, and nothing is more urgent than finding a pathway to zero emissions. To avoid irreversible damage, global emissions must be cut in half by 2030 in order to keep pace with the Paris Agreement goals and reach net zero by 2050. This is not easy, but it is both an imperative and an opportunity for business to achieve a sustainable competitive advantage. COP26 represents a pivotal moment in the global quest for decisive action by business, governments and society, and we are honored to play a role in it" (www.bcg.com).

As a Consultancy Partner, BCG expands its climate and sustainability capabilities - the company's Climate Action Center becomes a global BCG Center for Climate and Sustainability, bringing together more than 550 BCG experts. In September 2020, BCG announced its goal of achieving zero climate impact by 2030 and committed to invest $400 million in climate and environmental activities in governments, industries, coalitions, and NGOs over the next 10 years.

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BCG research shows that 70-80% of the goals of the Paris Agreement can be achieved through the use of existing technologies; as for the complete decarbonization of the world's major supply chains, research shows that it will only have an impact of 1-4% on the cost of final consumer products. Our global economy is 50% dependent on nature and an investment of $100-150 trillion over the next 30 years is needed to finance the transition to full decarbonization, the formation of companies and sectors, and the curing of our planet.