FYI, all: McKinsey works for oil companies. I know no other firms ever would do such a thing, so wanted to get it off my chest. Thanks for listening.

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Seems like as good as McK is, there is a weakness in hiring to have 1,100 employees that don't understand reality.

likefunny

I think this could be serious for all of us. I work in the chemicals sector and work hard at helping them produce more for less. Is that in direct conflict with our firm’s stated objectives regarding climate? Obviously I say no - but if perception becomes reality, do we have to approach this market differently?

Hi P2 what do you mean by ACN embedding ESG in all engagements? If I sell a million dollar widget assessment there is a percentage of $X that goes to some ESG activities?

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Strange. I didn’t know oil companies made opioids.

Zing!

funnylike

Oxycoctane

funnylike

Stop being activist and start being realist.

I sell and deliver ESG / environmental sustainability for a living. With current systems and tech, the path to Net Zero cannot be paved without specialty chemicals and materials derived from hydrocarbons.

The level of carbon ‘de-intensification’ we need in the economy will not happen without us helping O&G, Metals & Mining, and Agriculture.

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Is this a sarcastic comment? Because ummm… we all work for oil companies… .

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Maybe McK is giving us a heads-up on the next big news story?

likesmart

Lol of all the things to criticize a consulting firm about.

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McK must have done an outsourcing strategy for NYT recently … cause the attention. I mean seriously …

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Your former colleague is holding down an alliance partner Manager role. Basically helping SIs (like Accenture) sell Google solutions. Hardly a power broker or even in mainstream Google role.

funny

I’ve been at 2 Big 4 firms and oil & gas were huge sectors for us

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I get the sense that someone read my post to suggest I think we shouldn’t serve oil companies…

likefunny

I hope not. Just that 1100 enthusiastic but unfortunately clueless McKinsey employees think that way. We all have our own climate warriors and internal pressures on serving oil and gas clients. Personally I’m of the view that anyone who is serious about the energy transition should be focusing on oil and gas as well as nuclear. But I favor economics and physics over sunflowers and rainbows.

🙄

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I serve Oil & Gas companies and I’m proud to do so. They get vilified but the reality is without them we’d have a standard of living equivalent to todays developing nations. Furthermore without them many developing nations will not join the developed world.

This virtue signaling is laughable but sadly necessary. It’s on a par with OECD nations like Norway with a vast sovereign wealth fund generated by North Sea oil asking nations like Guyana to leave their hydrocarbon wealth in the ground.

Oil and Gas companies will drive the energy transition not teenagers throwing a tantrum in Glasgow. It will take engineering, capital discipline and large scale execution - exactly the capabilities that exist in majors. We need to make it economically viable for them - which will require governments to do something constructive instead of show piece hearings before congress.

smart

I for one applaud McKinsey bravely ceasing support for those evil oil and gas companies so that they can retain the bright and enthusiastic staff that define their culture.

Now where is Mr Looney’s cell phone number …?

This insider trading story has to be a bigger blow for McKinsey. People can argue in good faith about what it’s appropriate to do with energy companies, but I at least thought that y’all had some sort of reasonable performance management process that would weed out total morons somewhere before the partnership level.

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