Investigation Reveals McKinsey's Dual Role in African Fossil Fuels, Climate Plans
The revelations follow McKinsey's documented involvement in the 2023 African Climate Summit and the design of Nigeria's energy transition plan.
LONDON — American consulting giant McKinsey & Company has simultaneously advised African governments on climate transition while maintaining extensive business relationships with fossil fuel companies across the continent, according to new data obtained by the Centre for Climate Reporting, writes AfricaBrief Reporter.
The investigation reveals McKinsey's deep involvement in Africa's energy sector from 2014 to 2023, raising questions about potential conflicts of interest between the firm's climate and fossil fuel work.
The firm's client list includes major oil companies such as Shell Egypt, Eni East Africa, and the Nigerian National Petroleum Corporation, alongside several African governments developing energy transition plans.
Revenue data shows that some clients, including Anglo American plc and the Egyptian government, contributed between 1% and 3% of McKinsey's revenue during the period from September 2021 to August 2022.
The investigation also uncovered McKinsey's role in Saudi Arabia's Oil Sustainability Program in Africa since 2018.
While marketed as a sustainable development initiative, the program focuses on protecting Saudi Arabia's oil revenue through projects designed to maintain fossil fuel demand.
"These disclosures identify firms that are either McKinsey clients, umbrella organisations tied to McKinsey's clients, or organisations that the firm pitched work for," the Centre for Climate Reporting noted.
The revelations follow McKinsey's documented involvement in the 2023 African Climate Summit and the design of Nigeria's energy transition plan, highlighting the firm's significant influence on African energy policy.
The client list includes governments of Nigeria, Niger, Egypt, and Angola, alongside numerous fossil fuel and extractive companies operating across the continent.