McKinsey in the crossfire: oil giants defy climate protection!

McKinsey in the crossfire: oil giants defy climate protection!

Current revelations reveal that the notorious management consultancy McKinsey & Company acts as an actor in the fossil fuel industry, while at the same time specifying the world to lead the world into a greener future. A report by the Guardian has uncovered that in 2023 around 5% of McKinsey's income from the NEOM project in Saudi Arabia came, a futuristic city that is part of the efforts to direct the national economy of the second largest oil producer in the world on a sustainable basis. But while McKinsey is boasting for ecological projects, cooperation with Saudi-Aramco and other climate-damaging companies, including BP and Shell, remains a shadow over their credibility. These interrelations bring great skepticism, such as The Cooldown reported.

Rachel Rose Jackson from the non-profit organization Corporate Accountability critically commented on McKinsey's approach: "The more she works with the actors and gains profits from the destruction of our planet, the more she becomes a accomplice herself." These concerns are underpinned by the fact that many of McKinsey's main clients, such as Shell, reduce their investments in renewable energies, which questions McKinsey's demands on driving the decarbonization.

entanglement in fossil fuels

In addition, McKinsey is accused of working actively on programs that boost fossil fuel requirements in developing countries, which is strongly opposed by the global climate goals. An internal report from 2021 indicates that not all employees agree to the current business strategy, but whether this loss of prohibition and reputation is encountered with an effective reorientation remains questionable. sustainability magazine mentions that these entanglements should also be seen as part of a major examination of the role of McKinsey in the climate crises in recent years.