Bain & Company pledges a further $2 billion towards social impact worldwide
Global strategy consultancy Bain & Company is pledging to provide $2 billion worth of pro bono social impact services by 2035, having already delivered $1.1 billion over the past decade.
Back in 2015, before the existence of OpenAI, Tik-Tok, MAGA, and UberEats, Bain & Company made a $1.1 billion, ten-year commitment to support pioneering non-profit and public sector organisations with pro bono advisory services.
Having since met that target, with more than 400 organisations receiving support globally over that time, the management consulting giant has now doubled-down on its CSR endeavours, pledging an additional $2 billion worth of services over the next decade.
“We believe that businesses have a fundamental responsibility to contribute to society in a profound and lasting way,” said worldwide managing partner Christophe De Vusser. “This work fuels our expertise, expands our thinking, and deepens our impact. It’s also an incredible opportunity for our people to lead, take on challenges that matter, and develop the skills that set us apart.”
Corporate social responsibility
More than 4,000 of the firm’s professionals – or ‘Bainies’ – have participated in pro bono social impact activities over the past ten years, delivering 1,000-plus cases to not-for-profit and public sector organisations in every corner of the planet attempting to come up with and scale innovative solutions to some of its most pressing problems.
With an overarching focus on the environment and socioeconomic inequality, Bain has channelled its significant investment toward partnerships in five critical areas which impact billions of the people around the world; climate and the energy transition; food systems and nature; economic development; education; and racial and social equity and justice.
“For the past decade, we’ve partnered with leading social pioneers to tackle global challenges and build a more sustainable, equitable, and inclusive world,” the firm says. “Through this work, we have helped shape systems, scale solutions, unite coalitions, and produce sector-shaping insights, driving meaningful and enduring impact across the globe.”
CSR projects
One small example of its work has been Bain’s recent partnership with The Nature Conservancy to develop a more sustainable fishing sector in the Asia Pacific and Latin America. The project has so far led to the formation of Pacific Island Tuna, a company built on industry-leading environmental and labour practices, and a potential 45 percent cut in emissions through lower-carbon shrimp farming in Thailand.
Closer to home, Bain volunteers have helped engender the very concept of corporate volunteering itself, leading the establishment of what is now Workplace Giving Australia, an organisation it has provided with full pro bono operational support for more than 20 years. Co-founded by Bain veteran Greg Hutchinson, WGA recently added senior partner Richard Fleming to its board.
Celebrating its 50th anniversary in 2023, Bain & Company has also been ensuring its own house is in order in same areas it externally supports. Self-declared as the first global consultancy to achieve carbon-neutral status back in 2011, the firm then set its sights on becoming net-negative, and has also led the way in terms of diversity & inclusion.
