Boston Consulting Group (BCG) and its corporate innovation-focused arm BCG Digital Ventures announced the launch of BCG Green Ventures, a new offering and team aimed at supporting the development and growth of climate action-focused technologies and businesses.

In a statement announcing the launch of the new offering, Stefan Gross-Selbeck, BCG Digital Ventures Managing Director and Global Managing Partner, and Rich Hutchinson, BCG Managing Director and Senior Partner, said:

“Many corporates have already committed to ambitious ESG goals. Achieving these will take a strong embrace of innovation. BCG Green Ventures will play a key role in supporting companies in this work and building a sustainable future, helping to limit emissions, and working to develop the solutions required to rise to the climate challenge.”

BCG Green Ventures will initially focus on high-impact decarbonization ventures targeting the largest cross-sector sources of greenhouse gas emissions to drive climate action at scale. The company will partner with corporates to invest in, build and scale sustainable businesses, while supporting corporations on the transition to a new zero economy.

The companies also stated that BCG Green Ventures will invest in each venture, “aligning more closely with our corporate partners and helping to ensure scalable impact.”

The launch marks a continued focus for BCG on climate and sustainability issues. Last year, the firm announced a series of sustainability initiatives, including a pledge to become climate neutral by 2030, as well as committing $400 million over the next ten years aimed at enabling its teams to drive climate and environmental impact across governments, industries, NGOs, and coalitions in order to advance global progress toward the net-zero ambition. The company also recently launched the BCG Center for Climate & Sustainability, expanding its capabilities in partnering with businesses and governments to help them act on their sustainability commitments and decarbonization efforts.

Gross-Selbeck and Hutchinson added:

“We are now at the tipping point of a major wave of climate and sustainability innovation. Reaching net-zero emissions by 2050, avoiding the worst effects of climate change, and building a truly sustainable ecosystem will require nothing less than the transformation of every sector of the economy, with breakthrough innovation over the next two decades a prerequisite for success.”