> On 7 November 2023, an AFP investigation revealed in multiple leaked documents that McKinsey was using its position as the primary advisor to COP28 hosts, the United Arab Emirates, to push the interest of its oil and gas clients (ExxonMobil and Aramco). McKinsey has been accused of putting its own interests ahead of the climate by sources involved in preparatory meetings for COP28. McKinsey's energy scenario for the COP28 presidency would allow for continued investment in fossil fuels, which would undermine the goals of the Paris Agreement; an "energy transition narrative" recommends oil use to be reduced by only 50% by 2050, and that trillions of dollars should continue to be invested in high-emission assets each year to at least 2050.
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[ 2.4 ms ] story [ 9.0 ms ] thread> On 7 November 2023, an AFP investigation revealed in multiple leaked documents that McKinsey was using its position as the primary advisor to COP28 hosts, the United Arab Emirates, to push the interest of its oil and gas clients (ExxonMobil and Aramco). McKinsey has been accused of putting its own interests ahead of the climate by sources involved in preparatory meetings for COP28. McKinsey's energy scenario for the COP28 presidency would allow for continued investment in fossil fuels, which would undermine the goals of the Paris Agreement; an "energy transition narrative" recommends oil use to be reduced by only 50% by 2050, and that trillions of dollars should continue to be invested in high-emission assets each year to at least 2050.
https://en.wikipedia.org/wiki/2023_United_Nations_Climate_Ch...