McKinsey & Company

Carbon per million dollars of revenue. The legacy industry-standard reference (CDP, MSCI). Useful for cross-sector context, but distorted by margin — high-margin firms appear artificially efficient. Read alongside the operational and asset intensities for the full picture.

OpEx (operating expenditure) is the running cost of the business — staff, services, energy, materials. This shows how carbon-intensive operations are per million dollars of spend. Removes the margin distortion that revenue-based ratios introduce.

EVIC (Enterprise Value Including Cash) is the firm's total capital footprint — equity + debt + cash + minority interest. The EU's standard intensity measure (SFDR PAI 3) — answers: how much carbon does each million of capital deployed in this business produce?

PP&E (Property, Plant & Equipment) plus leased real-estate assets is the firm's physical infrastructure on the balance sheet. This shows the carbon intensity of that physical footprint — uses Scope 1+2+3 for consistency with the other headline intensities. Surfaces stranded-asset risk for asset-heavy firms.

Carbon per FTE (full-time-equivalent employee) — the diagnostic measure for people-leveraged businesses where headcount, not capital, drives delivery. Captures the office, energy and travel footprint per person.

• · Puro.earth Registry
• · CarbonPlan OffsetsDB
• · RE100

McKinsey has been sourcing 100% renewable electricity since 2023, ahead of its 2025 target. Where direct procurement is not feasible, it purchases renewable electricity certificates. In 2024, 98% of procurement was aligned with RE100 criteria. Starting in 2024, the firm also procures RECs to cover electricity-related emissions from colleagues working from home. Local Green Teams have installed on-site solar (e.g. Bengaluru school).

In 2024, 64% of carbon credits came from removal projects, including 5% from technology-based removals (TBR); committed to 100% removals by 2030. 2024 purchases included 75,000 tCO2e of direct air capture over five years and 15,000 tCO2e via Amazon reforestation. Portfolio diversifies across biochar, improved forest management, mangrove restoration, afforestation/reforestation, plus peatland and REDD+ avoidance. Partners include Frontier ($1B+ DAC AMC) and Symbiosis (20Mt nature-based AMC). Average spend across SAF and credits: $31/tCO2e.

• Business travel reduction — purposeful travel + hybrid working

  Business travel (primarily air, then hotels and ground transport) drives 98% of McKinsey's 2019 baseline emissions. Achieved 50% reduction per FTE vs 2019, beating 35% by 2025 target. Levers include purposeful remote/hybrid working models, strategic local staffing, web-based recruiting/learning, rail and EV ground transport. An internal $50/tCO2e carbon fee on all flights (since 2023) funds carbon-related procurement; expanded to accommodation in 2024.

• Office energy efficiency + EV fleet electrification

  EV-only policies in countries representing 61%+ of fleet; EVs now 39% of owned vehicles (up from 4% in 2019). 66% of global office space is LEED-certified (or equivalent); 58% LEED Gold/Platinum; several offices ISO 14001 certified. Green Teams identify and implement local sustainability measures.

• Sustainable Aviation Fuel (SAF) procurement

  In 2024, McKinsey addressed over 6% of air travel emissions via SAF (over 17,500 tCO2e). To-date purchasing commitments exceed 100,000 tCO2e of SAF-enabled emissions reductions through 2030. Participates in SABA (Sustainable Aviation Buyers Alliance) and runs own RFP. Follows book-and-claim with third-party certification.

• Client decarbonization catalysis (largest stated lever)

  McKinsey's stated aspiration is to be the largest private sector catalyst for decarbonization. 3,200 colleagues worked on 1,640 sustainability engagements with 720 clients in 58 countries in 2024. Clients have contributed >80% of reported CO2 emissions reductions (in publicly held companies 2018-2023). Tools include Catalyst Zero decarbonization cost-curve platform.

• Supplier engagement on travel-related Scope 3

  Indirect travel emissions are >80% of carbon footprint, so travel suppliers are priority. In 2024, engaged with suppliers representing 82% of business travel emissions. Hosted third annual global supplier summit. Restructured Green Hotels program to align with external building/operational certifications. Selected suppliers participate in CDP Supply Chain program.