Monetising Climate Change

Introduction to ESG00:00:00

An introduction to Environmental, Social, and Governance (ESG) frameworks, explaining how they are used to certify companies despite vague criteria and a lack of public oversight, often leading to greenwashing.

History of Sustainability00:03:14

A brief history of the sustainability movement, tracing its roots from 18th-century forest conservation and the UN Brundt report to the founding of the IPCC and the Paris Agreement.

Consulting and Climate Change00:07:09

An exploration of the growing climate change consulting market, highlighting how firms like BCG, McKinsey, and PwC market themselves as sustainable while advising major oil, gas, and coal companies on profitability.

Influence on Global Policy00:09:45

Details on how consulting firms have embedded themselves in UN climate conferences (COP), specifically McKinsey's role as a key advisor at COP 28 and COP 29 despite its deep ties to the fossil fuel industry.

Case Studies and Conflicts of Interest00:12:29

The story of a former McKinsey consultant who resigned over the firm's work with coal giants, followed by evidence of McKinsey's long-term relationships with the world's largest carbon polluters.

Australia's Net Zero Strategy00:21:23

A case study of the Australian government hiring McKinsey to write its Net Zero 2050 strategy, which was widely criticized for failing to meet targets and relying on uncertain future technology.

Carbon Offsets00:23:40

An explanation of carbon offset certificates and how investigative reports have revealed that most do not result in real emission reductions, often exaggerating the amount of forest protected.

Consultants in Carbon Metrics00:25:45

How McKinsey was contracted by the UNFCCC to develop metrics for forest conservation, a process that prioritized the financial interests of logging companies over indigenous communities.

Regulation and Conclusion00:28:32

A look at how the Big Four consultancies helped shape and profit from TCFD climate disclosure regulations, ending with a mention of a former BlackRock executive calling ESG a dangerous distraction.