The world's top management consultancy McKinsey & Company is using its position as a key advisor to the U.N.'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 U.S.-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 investigation has found.
An "energy transition narrative" drafted by the firm only reduces oil use by 50% by 2050, and calls for trillions in new oil and gas investment per year from now until then.