The collective, the global co-living pioneer with operational sites in london and new york city9/15/2023 ![]() ![]() These range from introducing hybrid-electric equipment (a first step for some) and fully electrifying operations (a key emissions-abatement lever for oil and gas companies), to boosting efficiency through digitization, advanced analytics, and artificial intelligence (practices profiled in a case study of the chemical and consumer-goods company Henkel). In this compilation, McKinsey experts and corporate leaders describe emerging opportunities for industrial operators to help lead the way to a lower-carbon future. ![]() Yet even as industries grapple with structural changes, and as societies and economies pivot to the “next normal,” companies themselves have a window of opportunity to adapt their operations to help reduce the disruption that climate change will ultimately bring. The COVID-19 pandemic presents an unforeseen challenge to industrial operators as they face the immediate impact of plummeting demand for many products, as well as pressing needs to ensure the safety of employees. Ever since the steam engine helped launch the Industrial Revolution, large-scale operations have boosted living standards, provided richer choices than our ancestors dreamed of-and generated unintended consequences, including pollution.
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