COP28 News Roundup | November 3- 9, 2023
<p><strong>New York, New York</strong> — An AFP investigation has found that McKinsey, a US-based consulting firm, has been advocating for that contradict its public stance on climate goals that fall short of COP28 targets. The firm‘s client base includes major oil players like ExxonMobil and Aramco.</p>
<p>According to confidential documents obtained by AFP, McKinsey’s draft for the upcoming COP28 presidency suggests reducing oil use by only 50 percent by 2050 and calls for trillions in new oil and gas investments annually until then.</p>
<p>Critics argue that McKinsey’s energy scenario for COP28 seems to be “written by the oil industry for the oil industry.” The proposal, according to Kingsmill Bond of the Rocky Mountain Institute, lacks credibility in achieving net-zero targets and appears to prioritize the interests of oil and gas companies over the multilateral climate agreement.</p>
<p><a href="https://medium.com/purpose-and-social-impact/cop28-news-roundup-november-3-9-2023-9c3cadb6edc3"><strong>Click Here</strong></a></p>