A global management & consulting firm to the world’s most influential businesses and institutions McKinsey & Company is a trusted advisor and counselor. The company is the oldest and largest of the “Big Three” by revenue. 

History of McKinsey & Company:

McKinsey & Company logo
McKinsey & Company logo

The company was first founded by James O. McKinsey in 1926 under the name James O. McKinsey & Company. They started first as an “accounting and management firm”. The company’s second office in New York was the one to purchase exclusive rights to name McKinsey in 1946. Hence, under the official banner of McKinsey and company the company began to grow.

The firm is now involved in almost all of the industries like electronics, aerospace & defense, chemicals, education to mining, oil and gas and travel. It also performs various functions in the digital space, operations, marketing and sales, strategy and corporate finance. But one function the company serves that sets it apart from all others in the business is Sustainability. 

Overview of the company: 

Together, we will accelerate sustainable and inclusive growth. We believe that for all people to prosper, economies must grow. Today, a new era of growth is possible; one that doesn’t treat growth and positive societal impact as opposing forces.

The company believes that the new paradigm of growth will be more sustainable, driving innovation and reducing environmental impact. They also aim at creating something more inclusive and easy to access for people worldwide. By combining bold strategies and transformative technologies they want to help organizations innovate more sustainably, achieve lasting gains in performance, and build workforces that will thrive for this generation and the next.

Sustainability by McKinsey & Company:

According to the company website, ‘Environmental sustainability is part of our purpose, public commitments and practices. Taking into consideration the UN Sustainable Development Goals, the company has set science-based targets like reducing Greenhouse gas emissions (GHG). To deal with the remaining footprint, they aim to remove carbon from the atmosphere mainly through nature-based solutions. Their main goal- To reach net-zero climate impact by 2030. 

Progress so far:

The company now uses 95% renewable energy and has a further target of taking it to 2005 by 2025. Their every employee was able to reduce emissions by 19% from 2017-2019. 100% of their GHG emissions have been offset since 2018. They further want to compensate for all their emissions by investing in carbon-reduction projects certified by international standards. 

McKinsey & Company sustainability insights
McKinsey & Company sustainability insights

Core elements of their environmental sustainability strategy:

  • Carbon neutrality: Reduce our GHG emissions and be carbon neutral.
  • Reducing waste: Reducing the wastage of all kinds of resources across the global operational sites. 
  • Working with external stakeholders: The company works with both their internal and external stakeholders like clients, suppliers, community, etc. to reduce their environmental footprint.
    McKinsey & Company's sustainability insights
    McKinsey & Company’s sustainability insights

McKinsey’s statement on the environment:

We recognize our responsibility to help protect the planet. We are committed to minimizing the impact our firm has on the environment and supporting those who are working to improve global environmental sustainability.

McKinsey supports the UN Sustainable Development Goals and the Paris Climate Agreement. We are also participants in the UN Global Compact.

Read about more such sustainability initiatives by companies:

Suscin – Promoting Sustainability

Sustainability initiatives at Google

Neste- Journey to Zero

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