The world's top management consultancy McKinsey & Company is using its position as a key advisor to the UN's COP28 climate talks to push the interests of its big oil and gas clients, undermining efforts to end the use of the fossil fuels driving global warming, according to multiple sources and leaked documents.
Behind closed doors, the US-based firm has proposed future energy scenarios to the agenda setters of the summit that are at odds with the climate goals it publicly espouses, an AFP investigation has found.
"This is clearly not a credible pathway to net zero," Bond, a senior principal at the Rocky Mountain Institute think tank, told AFP. That is twice the amount allowed in the International Energy Agency net zero roadmap, said Jim Williams of the University of San Francisco, a top modeller of decarbonisation trajectories.But the McKinsey scenario would likely require at least double that, experts said.
More than 1,100 of the firm's employees signed an internal letter seen by AFP warning that"there is significant risk to McKinsey and our values from pursuing the current course." "But it's essential that they actively work for the transition rather than trying to slow it down because of the vested interests of incumbents, such as the fossil fuel industry."
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