BCG Global Chair Rich Lesser: How Businesses Can be “Bold and Pragmatic” on Climate Change
Oct 23, 2024
auto_awesome
Rich Lesser, the Global Chair of Boston Consulting Group, leads discussions on businesses tackling climate change with bold strategies. He emphasizes how BCG supports clients in achieving net-zero goals while navigating sustainability challenges. Lesser highlights the transformative role of AI in optimizing supply chains and enhancing climate resilience. He also discusses the necessity for collaboration among business leaders and the government to drive impactful climate initiatives, inspiring future leaders in climate action.
Rich Lesser highlights the need for businesses to balance bold climate actions with practical strategies to build trust with stakeholders.
The collaboration between businesses and governments is essential for scaling meaningful climate change initiatives and achieving broad societal impact.
Deep dives
The Role of Business in Climate Action
Business leaders have a crucial role in driving climate action, blending boldness and practicality. Companies must prioritize societal interests alongside their own to build trust with governments and communities. Effective collaboration between businesses and governments is essential for scaling change rapidly and addressing climate challenges. Such partnerships can potentially enhance progress toward addressing climate change in a more impactful way.
The Journey Towards Climate Prioritization
Rich Lesser emphasizes his awakening to climate change in 2018, influenced by frustrated partners who felt that significant actions were lacking despite the Paris Accord's commitments. He recognized BCG's potential for meaningful climate engagement, as the firm had historical achievements in other sectors like health and education. This realization prompted the establishment of priorities aimed at increased focus and commitment toward combating climate challenges. The formation of the Center for Climate and Sustainability marked a strategic shift within BCG to enhance its impact on climate action.
Three Fronts of Commitment
BCG's approach to climate action encompasses three core areas: internal commitments, client support, and societal contributions. The firm first committed to achieving carbon neutrality and further pursued a net-zero target by 2030, showcasing its credibility. Next, BCG focused on assisting clients across various sectors in addressing their climate impacts through tailored strategies. Finally, the firm engaged with groups in need, offering its expertise and resources at reduced rates to catalyze broader societal benefits.
Bridging Business and Policy
The effectiveness of climate policy requires higher business engagement and collaboration. Rich Lesser shares that businesses need to take ownership of their supply chains, considering their environmental impacts while understanding customer perspectives. A coherent approach involving standardized labeling across industries could help consumers make informed choices. Ultimately, business leaders must engage more assertively with governments to facilitate ambitious climate policy initiatives while ensuring practical steps are taken toward sustainable practices.
Rich Lesser, Global Chair of Boston Consulting Group (BCG), shares how BCG is
helping clients walk the walk with net-zero commitments, transition to sustainable practices, and how it is partnering with global organizations to amplify their impact. He also delves into the challenges businesses face in adapting to climate risks and the role of AI in optimizing everything from supply chains to climate resilience. Rich suggests ways businesses can step up to create meaningful changes and concludes with his advice for those looking to enter the climate space.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode