—Boston Consulting Group (BCG), the global management consulting firm, has launched its Global Climate & Sustainability Hub in the GCC region. The announcement was made at the BCG Middle East Climate & Sustainability Impact Summit in the presence of a select group of leaders, key decision-makers, and industry experts. The event was inaugurated by H.E. Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment of the United Arab Emirates (UAE), and Christiana Figueres, Executive Secretary of the United Nations Framework (UNFCCC), which saw insights shared on the actions needed for governments and businesses to tackle climate change in the region, as well as broader sustainability challenges.
The new BCG Climate & Sustainability Hub will aggregate, build and localize expertise at a cross-industry level in sectors such as energy, industrial goods, retail and consumer, financial services, and digital innovation, to contribute to accelerated decarbonization and greater circularity that support business and government ambitions.
“As the host of COP28 next year, the UAE has an opportunity to not only drive climate action at home but also to set an example and inspire the world. To achieve our goals, we are developing a detailed net zero by 2050 strategy, which includes a long-term roadmap and near-term actions. This is a complex endeavor, so we have convened a broad set of stakeholders, covering all emirates and sectors. We have also partnered with BCG to develop a comprehensive, robust, and ambitious plan for the country,” said H.E. Mariam bint Mohammed Almheiri.
“With abundant renewable resources, deep technological know-how, and a drive to innovate, the region has the opportunity to take bold and targeted actions to address the global climate crisis and improve Middle East sustainability. Our experts work across decarbonization, mitigation, adaptation, and innovation, helping clients reduce their carbon footprint and at the same time leverage new, green growth opportunities,” said, Shelly Trench, Global Climate & Sustainability Strategy Lead, Managing Director & Partner, BCG.
The BCG Climate & Sustainability Hub will focus on three core areas:
Country-level Net Zero: BCG is working with governments globally to develop strategies to reach net zero, enabling them to meet their regional and global commitments under the Paris Agreement
Corporate-Level Mitigation: Working with corporate clients over a wide range of industries, including energy, industrial goods, and travel and tourism, BCG will help deploy strategies and initiatives that reduce regional and global carbon footprint
Green Ventures & Innovation: Working with both public and private sector entities to leverage new opportunities for green growth, as well as capitalizing on not only the unique natural and human resources but also the capabilities of the region
Simon Birkebaek, Middle East Climate & Sustainability Topic Lead, Partner, BCG added: “Governments and companies in the region have opportunities to build new export industries in hydrogen, green fuels for aviation and shipping, green steel or aluminum, amongst others. This not only helps to reduce the carbon footprint but also creates new jobs and opportunities for residents in the region.”
The team of BCG experts on climate change in the Middle East includes:
Shelly Trench, Global Climate & Sustainability Strategy Lead, Managing Director & Partner