BCG, INSEAD Corporate Governance Centre, and Heidrick & Struggles
Climate Impact & Sustainability Data (2020, 2021, 2022, 2024)
Reporting Period: 2020
Environmental Metrics
Total Carbon Emissions:8,800 metric tons CO2-equivalent (2019)
ESG Focus Areas
- Diversity & Inclusion
- Environmental Sustainability
- Governance
- Employee Well-being
- Community Engagement
Environmental Achievements
- Significantly shrank carbon footprint from air travel due to a shift to virtual work.
- Decreased global office square footage by 8.4%
- Reduced paper usage by launching use of DocuSign
Social Achievements
- Launched Diversity & Inclusion principles and a new Diversity & Inclusion Practice.
- 61% of U.S. board placements were diverse; globally, over 60% of initial proposed board candidates were diverse.
- Over 60% of the firm's Board of Directors are women or People of Color.
- Formalized a new Flexible Workspace Philosophy.
- Created and delivered over 700 learning experiences for employee development.
- Donated over $57,000 to COVID-19 relief efforts and roughly $340,000 to charities worldwide.
- Completed over 1,000 hours of pro bono work.
Governance Achievements
- Updated Code of Ethics.
- Introduced ongoing training on privacy notifications.
- Expanded Data Subject Rights globally.
Climate Goals & Targets
Long-term Goals:
- Achieve carbon neutrality
Short-term Goals:
- Add at least two gender-diverse and one racially/ethnically diverse member to the Board and senior leadership in 2021.
Environmental Challenges
- Reducing environmental impact from business travel and real estate.
- Maintaining a diverse and inclusive workplace.
Mitigation Strategies
- Shifting to virtual work to reduce travel.
- Reducing office space.
- Implementing diversity and inclusion initiatives.
- Launching a Flexible Workspace Philosophy.
Supply Chain Management
Responsible Procurement
- Supplier Code of Conduct (addresses environmental protection and diverse supplier engagement)
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI, SASB
Awards & Recognition
- AESC IDEA Award (Lyndon Taylor)
- 25 Influential Black Women in Business (Cheryl Stokes)
- Savoy Magazine's Most Influential Black Executives (Kamau Coar)
Reporting Period: 2021
Environmental Metrics
Total Carbon Emissions:6,920 MT CO2e
Scope 1 Emissions:<1%
Scope 2 Emissions:38.9%
Scope 3 Emissions:61%
Waste Generated:42 metric tons of paper
ESG Focus Areas
- Board Diversity
- Diversity, Equity & Inclusion (DE&I)
- Environmental Sustainability
- Employee Well-being
- Governance
- Philanthropy
- Climate Change
Environmental Achievements
- Reduced carbon emissions by over 21% from 2019 to 2021
- Decreased global office square footage by 26%
- Recycled over 42 metric tons of paper
Social Achievements
- Globally, 67% of initially proposed board candidates were diverse, exceeding the annual Board Diversity Pledge
- 73% of board placements in the US and 68% globally were diverse
- 51% of overall placements in the US and 49% globally were diverse
- Delivered more than 12,800 hours of learning and development to employees globally
- Recognized World Mental Health Day as a holiday
- 35 offices participated in the 3rd Global Day of Service
Governance Achievements
- 37% of the board of directors were women, and 25% were people of color (as of May 2022)
- Established a comprehensive set of data protection and privacy programs, policies, and practices
- No information security breaches in 2021
Climate Goals & Targets
Environmental Challenges
- Work-life balance and burnout among employees
- Addressing pay inequality for women and minorities
- Reducing carbon emissions from electricity use and employee commuting
Mitigation Strategies
- Enhanced wellness offerings, including mental health resources and flexible workspace
- Country-wide approach to not asking for or using candidates’ historical compensation information
- Emissions reductions through a greener, smaller office footprint and purchase of carbon offsets
Supply Chain Management
Responsible Procurement
- Supplier Code of Conduct
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI, SASB
Awards & Recognition
- AESC’s Future of The Profession Award (Jaimee Eddington)
- NACD Directorship 100 (Bonnie Gwin and Theodore Dysart)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:19,257 tCO2e/year
Scope 1 Emissions:93 tCO2e/year
Scope 2 Emissions:2,277 tCO2e/year
Scope 3 Emissions:16,886 tCO2e/year
Carbon Intensity:8.99 MT CO2e/person; 17.94 MT CO2e/Million USD
ESG Focus Areas
- Diversity, equity and inclusion
- Customer trust
- Compensation and benefits
- Employee engagement and management
- ESG governance
- Data security and privacy
Environmental Achievements
- Reduced electricity usage by 22% in 2022 compared to 2021
- 60% of global offices were sustainably certified
- 79% of U.S. offices were sustainably certified
- 2,000 tons of CO2 equivalent emissions were offset
Social Achievements
- Launched Voice of Employee pulse surveys with nearly 80% participation rate
- Appointed Cecilia Nelson-Hurt as Chief DE&I Officer
- 700+ employees participated in Global Day of Service, donating over 2,400 hours
- Raised $523,000 to support humanitarian efforts in Ukraine
Governance Achievements
- Launched an ESG governance framework
- Board of directors was 43% women and 29% racially/ethnically diverse
Climate Goals & Targets
Medium-term Goals:
- Setting reduction targets through SBTi (submission intended for 2024)
Environmental Challenges
- Increased GHG emissions in 2022 due to increased business travel and retrofitting of office space
- Supply chain disruptions (implied)
Mitigation Strategies
- Actively working toward setting reduction targets through the Science Based Targets initiative (SBTi)
- Completed a climate change risk assessment
- Prioritizing more energy-efficient buildings
- Working with travel vendors to enhance sustainable travel choices
- Purchasing carbon offsets through Indigo Ag
Supply Chain Management
Responsible Procurement
- Supplier Code of Conduct
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: GRI, SASB, TCFD
Awards & Recognition
- Forbes World’s Best Management Consulting Firms
- Forbes America’s Best Executive Recruiting Firms
- Financial Times Business Talent Group UK’s Top Management Consulting Networks
Reporting Period: 2024
Environmental Metrics
ESG Focus Areas
- Sustainability
- Generative AI
- Trade and Geopolitics
Environmental Achievements
- Improved understanding of sustainability's impact on value creation (from 25% lacking confidence in 2023 to 9% in 2024)
- Improved capability to scan for weak signals of future sustainability shocks (from 37% lacking capability in 2023 to 24% in 2024)
- Improved development of plans to turn sustainability shocks into competitive advantage (from 46% lacking plans in 2023 to 27% in 2024)
Governance Achievements
- 74% of respondents indicate that sustainability is a formal part of the board’s competency matrix
Climate Goals & Targets
Environmental Challenges
- Lack of understanding of GenAI's impact on value creation
- Insufficient capability to scan for weak signals indicating disruption related to sustainability, GenAI, and trade/geopolitics
- Difficulty in translating disruptions into competitive advantage
- Other important issues crowding out discussion of external shocks and disruptions (38% of respondents)
- Inability of organizations to comply with new regulations (19% of directors cite this as a primary threat to sustainability goals)
- Conflicting views among stakeholders (activists, customers, employees, shareholders)
- Lack of alignment within the board and between directors and management (29% of directors unsure of management's ability to navigate disruption)
Mitigation Strategies
- Increasing investment in new technologies (49% for sustainability, 44% for GenAI)
- Adopting flexible resource-allocation processes
- Placing speculative bets and piloting new products and services (27% for GenAI)
- Enhancing risk management (62% of directors)
- Increasing scenario planning (44% of respondents)
- Ongoing board education
- Engaging with independent experts
- Updating the competency matrix
- Refreshing boards to include individuals with specific sustainability experience and diverse perspectives
- Stress testing the capital allocation process
- Promoting meaningful engagement with diverse stakeholders
- Empowering management to leverage stakeholder dialogues to navigate pressures and influence the broader landscape