2022 ESG Report Executive Summary Creating a more sustainable, inclusive, and growing future for all Portia Dlamini of South Africa is part of the network of digital-savvy lifelong learners who have taken part in the McKinsey Forward online learning program for young professionals. It’s one of the many learning resources we offer to help create more inclusive, skilled workforces around the world. Message from our global managing partner Accelerating sustainable and inclusive growth for the world A letter to all our stakeholders We are catalyzing decarbonization The events of 2022—the start of a tragic war, food and energy crises, severe climate events, global supply chain issues, and continuing market volatility—challenged governments, businesses, and citizens alike, requiring the world’s immediate and focused attention. As always, we partnered with our clients and our communities to respond—remaining ever committed to our firm’s long-term aspiration: accelerating sustainable and inclusive growth for the world. In 2022, 3,500 of our colleagues worked on more than 1,600 sustainability engagements with 600 clients across nearly 60 countries and in every industry. We are unashamed to say that this includes working with heavy emitters—because that’s where the emissions are. We also continue to make progress against our own net-zero goals (including the introduction of a carbon fee on all air travel) while convening leaders and other organizations to embark on fresh solutions like Frontier, an advance market commitment for carbon removal, and Catalyst Zero, for calculating carbon footprints. We have done the analysis to assess how we are actually doing against this aspiration. I am incredibly proud of how—together with our clients— we are driving measurable, society-wide impact. Our clients contribute 20 percent to global GDP growth, create one million jobs per year, and make up 80 percent of reported CO2 emissions reductions. While we are excited by this, we are even more motivated by it. Seeing the measurable impact in the societies where we live and work is what compels us to accelerate. We are continually raising our sights, with every client engagement, every day: How can we engage even more deeply with our clients on decarbonizing? How many more people can we help reskill or upskill? How can we drive even more economic growth and innovation? We are accelerating inclusive growth Last year, our Leap by McKinsey colleagues helped our clients build nearly 200 new businesses—creating more than 20,000 jobs and $140 billion in value. Our 10 Actions toward racial equity, launched in 2020, have accelerated change within our firm and are helping combat racism worldwide. Among the many advances this year: we’ve engaged more than 67,000 Black, Asian, Hispanic, and Latino professionals in our Connected Leaders Academy and published 30 insight pieces through the newly established McKinsey Institute for Black Economic Mobility. And, to ensure we are doing what we can to create a more inclusive economy, we have committed $2 billion to social responsibility efforts by 2030 and have so far contributed nearly $620 million in cash and in-kind support toward that commitment (more than $275 million this year). Individually, our colleagues have spent nearly a half million hours on volunteering, board service, and pro bono engagements. Bob (center) speaking to colleagues at a town hall in Poznań, Poland. 2022 ESG Report Executive Summary 2 In our own firm, we are doubling down on diversity, tripling our number of Black hires, and electing twice the number of women partners in five years. Our global workforce is 48 percent women, and 52 percent of our client-serving colleagues in the US are from racial or ethnic minority groups. We take great pride in our progress, but we want to make sure we are distinctively diverse and have more than tripled our talent recruitment sources from 540 in 2021 to more than 1,700 this past year to ensure that everyone with the skills and talent has a shot at our firm. Our firm’s purpose is to help create positive, enduring change in the world. We aspire to do this by accelerating sustainable and inclusive growth through direct and measurable impact in partnership with our clients. Throughout this report, we have shared stories about the many ways in which we are doing just that. We are sharing them not only because we are proud of what we have achieved so far, but because we hope that they are a