McKinsey & Company Publishes 2023 Environmental, Social, and Governance (ESG) Report

McKinsey is accelerating sustainable and inclusive growth across its client work, insights, actions, and charitable giving.

NEW YORK, May 15, 2024 /PRNewswire/ -- McKinsey & Company today released its 2023 ESG Report, "Accelerating sustainable and inclusive growth for all." The report describes how McKinsey has partnered with its clients, colleagues, and communities to drive progress in the societies where it operates worldwide.

"We're committed to promoting sustainable and inclusive growth in all of the communities where we operate," said Bob Sternfels, Global Managing Partner at McKinsey & Company. "From partnering with clients to decarbonize and reskill their workforces, to our pro-bono work helping close the empowerment gap, to our ongoing efforts to make our own firm more diverse and inclusive, it's our privilege to serve our clients and communities."

2023 progress highlights include:

Catalyzing decarbonization

McKinsey is moving decisively toward net zero while partnering with clients to do the same.

• 4,600 colleagues worked on 1,720 sustainability-related engagements with 761 clients across 67 countries and in every industry.
• McKinsey participated in Frontier's $156+ million offtake agreements to permanently remove more than 338,000 tons of CO₂ from the atmosphere by 2030. The firm collaborated with Stripe, Alphabet, Shopify, and Meta to found Frontier, an advance market commitment to buy an initial $1+ billion of permanent carbon removal between 2022 and 2030.
• 100 percent of air travel emissions were covered by a $50/ton internal carbon fee to finance carbon‑related procurement.

Helping build inclusive economies, institutions, and workforces

Through McKinsey's client work, operations, and community engagement, the firm seeks to accelerate growth that builds resilience and enables more people to contribute to and benefit from a growing economy.

• McKinsey upskilled, reskilled, or supported towards economic inclusion 19 million people through its nonprofit partners and pro bono programs.
• Leap by McKinsey has created 620 new businesses since 2019, including 20+ unicorns or decacorns.
• Women comprised 48 percent of McKinsey's global workforce.

Leading with integrity and maintaining the trust of clients, colleagues, and society

McKinsey strives to follow the highest professional and ethical standards. These are embedded in the firm's daily practices, from client and supplier selection to data protection.

• McKinsey vetted 100 percent of new clients against its CITIO framework, the most rigorous client selection policy in its industry.
• The firm has spent approximately $1 billion building, enhancing, and operating its risk, legal, and compliance functions since 2018.
• 100 percent of colleagues completed annual risk training and certified compliance with firm policies and the Code of Conduct.

McKinsey continues to align its reporting with leading ESG standards and frameworks. The report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards. It also includes McKinsey's disclosure against the World Economic Forum International Business Council's (IBC) Stakeholder Capitalism Metrics and serves as its sixth Communication on Progress (CoP) to the UN Global Compact. McKinsey is also reporting in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

To read McKinsey's 2023 ESG Report, visit: McKinsey.com/esg-report 

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About McKinsey & Company

McKinsey is a global management consulting firm committed to helping organizations accelerate sustainable and inclusive growth. We work with clients across the private, public, and social sectors to solve complex problems and create positive change for all their stakeholders. We combine bold strategies and transformative technologies to help organizations innovate more sustainably, achieve lasting gains in performance, and build workforces that will thrive for this generation and the next.

SOURCE McKinsey & Company