Climate Week in New York City is the time and place where the world gathers to showcase climate action and discuss how to do more. This year, McKinsey was honored to be the knowledge partner for the Opening Ceremony of Climate Week. Dickon Pinner, the global leader of McKinsey’s Sustainability Practice, joined the President of the Government of Spain, President of Costa Rica, Prime Minister of Denmark, Governor of California, and Secretary-General, OECD, and a former US Secretary of State as a speaker at the event to present McKinsey’s newest insights on how physical climate risk impacts business, the economy, and countries.
In this video of his Opening Ceremony speech, Dickon Pinner explains that climate change is already here and intensifying, and so are the risks. Everyone is affected: either first hand, through floods, hurricanes, fire, drought, or extreme temperatures, or through interconnections in global financial, economic, and social systems. While climate risk is starting to be recognized by financial markets, corporations, countries and individuals, businesses and communities may still be over exposed to the risk. That is why McKinsey has undertaken a new research effort to help key decision-makers objectively understand the specific risks and costs of physical climate change, illustrate the socio-economic impact that can be expected in the near-term, and identify actions to manage that risk. You can read more or our climate risk insights in this recent perspective written by Dickon Pinner and Kevin Sneader, our global managing partner: “Earth to CEO: Your Company Is Already at Risk from Climate Change.”