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| McKinsey & Company Global Managing Partner Bob Sternfels speaks in a video address at the 2022 Korea Times Forum at the Korea Chamber of Commerce and Industry (KCCI) building in Seoul, Tuesday. Korea Times photo by Shim Hyun-chul |
McKinsey chief advises country to harness strength in technology
By Park Jae-hyuk
Korea should take advantage of its strength in technology to take the lead in sustainability and digital transformation, both of which are viewed by global leaders as the key topics of our time, according to Bob Sternfels, the global managing partner of McKinsey & Company.
Regarding the two topics as the key drivers and essential prerequisites for the future of business, the head of the world's top consulting firm expressed his confidence that the Korean government will help build a strong and dynamic economy as a powerful example for the rest of the world.
"It is time for Korea to be the world's lighthouse, both across sustainability and digital," he said in a pre-recorded video address during the 2022 Korea Times Forum at the Korea Chamber of Commerce and Industry (KCCI) building in Seoul, Tuesday.
Sternfels acknowledged that a massive scale of costs could make it difficult for Korea's private sector to integrate environmental, social and corporate governance (ESG) principles into their operations and develop roadmaps to reducing carbon emissions, as well as for the Korean government to fulfill its promise made last October to reduce greenhouse gas emissions from 26 percent to 40 percent of 2018 levels by 2030.
He cited his company's research that showed almost $9 trillion in capital spending will be needed annually for the world to reach net-zero by 2050.
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