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While the specter of coronavirus is everywhere, nothing has changed about the urgency of climate change.

We should view climate change as a risk multiplier of “S” and “G”Īs our Summit commenced, it became clear that any conversation about climate change would be inseparable from the sweeping social and economic effects of the COVID-19 pandemic. Below are some of the key lessons we heard from leaders who spoke at the Summit, lessons that business leaders and policy makers would be wise to keep in mind when collaborating on solutions to manage climate risk.ġ. In this ever-changing global context, business leaders and policy makers will need to understand that climate change is fundamentally a risk management problem, one that requires thoughtful management, prudent investment, and technological and corporate innovation. Our goal: promoting an orderly transition to a low-carbon, sustainable economy.

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This was perhaps the most conclusive takeaway from our eighth annual Global Sustainability Summit, the first time our event was hosted virtually due to the quarantine and travel restrictions we are now all too familiar with.Īcross four virtual sessions this summer, McKinsey brought together more than 600 corporate executives, nonprofit leaders, government officials, and scientists to discuss how to address climate change in a post-pandemic world, what a climate-resilient future might look like, what the most promising innovations for decarbonization are, and how to achieve a 1.5-degree Celsius pathway. September 17, 2020The COVID-19 pandemic has caused us to reimagine many fundamental aspects of business and society faster than thought possible just six months ago, in ways that could help accelerate our response to climate change.