05:25:28 EST Wed 01 Dec 2021
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Imperial Oil Ltd
Symbol IMO
Shares Issued 698,600,375
Close 2021-10-27 C$ 43.69
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Globe/NYT say Imperial parent, rivals see greens gripe

2021-10-28 07:37 ET - In the News

The Globe and Mail reports in its Thursday edition that a revolt has been brewing at McKinsey & Co. over its support of the planet's biggest polluters. A New York Times dispatch to The Globe reports that more than 1,100 employees and counting have signed an open letter to the firm's top partners, urging them to disclose how much carbon their clients spew into the atmosphere. Nearly a dozen McKinsey consultants wrote: "The climate crisis is the defining issue of our generation. Our positive impact in other realms will mean nothing if we do not act as our clients alter the earth irrevocably." McKinsey publicly says it is "committed to protecting the planet." On Oct. 15 it held a Climate Action Day, updating employees on progress toward its goal of having a net-zero carbon footprint by 2030. Among the 100 biggest corporate polluters, McKinsey has advised at least 43, including BP, Imperial Oil parent Exxon Mobil, Gazprom and Saudi Aramco. McKinsey's work with these companies is often not focused on reducing their environmental impact but rather on cutting costs, boosting productivity and increasing profits. In 2018, those clients alone were responsible for more than a third of global carbon emissions.

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