Nov 15, 2022
Daniel and Farzana share what their roles at McKinsey & Company involve and the risks and strategies they’re spending most of their time on. The guests discuss the common themes and questions they get asked by clients - including finance, real estate and insurance.
In this episode you will hear about decarbonisation strategies McKinsey and Company have been focusing on and how their efforts compare to other organisations in the space.
Key Insights From This Episode:
About Our Guests:
Daniel Stephens is a Senior Partner in McKinsey & Company’s Washington, D.C., office. He is the Global Co-leader of McKinsey’s Climate and ESG Finance Practice and serves financial institutions in North America and around the world on topics relating to credit risk, regulatory compliance, disclosures, reputational risk, and business building with respect to climate and ESG topics.
Dan’s recent work includes standing up the climate risk program at a global trillionaire bank; conducting climate stress testing at a major North American bank; working with multiple banks on ESG and climate regulatory response; and building an ESG-led business model for a large global bank.
Outside of ESG and climate, Dan serves a broad range of clients across the commercial financial services space, as well as several public finance entities, including financial regulators, government lending programs, and government distribution programs.
Dan holds an A.B. in History from Princeton University and a J.D. with honours from Harvard Law School. He is a founding board member of Foster America, a not-for-profit that serves at-risk youth and child welfare agencies.
Farzana Huysman is a project manager in McKinsey & Company’s London office, where she focuses on serving financial institutions on sustainability, covering topics such as financing of decarbonisation and new green businesses, assessment and adaptation to physical climate risk, and de-risking the energy transition.
Farzana’s recent work includes scaling transition finance capabilities at an emerging markets bank; supporting growth and innovation of climate solutions for a global insurance broker; and assessing implications of physical climate risk for a European property insurer. Beyond financial institutions, Farzana has supported strategy and digital transformation efforts for clients in life sciences and shipping.
Farzana’s background is in engineering, with an MEng in Mechanical Engineering from the University of Cambridge, and previous work in building engineering. She co-leads the London office’s pro-bono support for a UK charity tackling global poverty.
About McKinsey & Company:
McKinsey & Company is a global management consulting firm. They are the trusted advisor to the world's leading businesses, governments, and institutions.
They work with leading organisations across the private, public and social sectors. Their scale, scope, and knowledge allow them to address problems that no one else can. They have deep functional and industry expertise as well as breadth of geographical reach. They are passionate about taking on immense challenges that matter to their clients and, often, to the world.
They work with their clients as they do with their colleagues. They build their capabilities and leadership skills at every level and every opportunity. They do this to help build internal support, get to real issues, and reach practical recommendations. They bring out the capabilities of clients to fully participate in the process and lead the ongoing work.
About Our Host
Louisa is the co-founder of LMRE, which has rapidly become the market leading global PropTech recruitment platform and search consultancy with operations across North America, United Kingdom, Europe and Asia-Pacific.
To promote the industry she is so passionate about, Louisa set up the Global podcast ‘The Propcast’ where she hosts and invites guests from the built environment space to join her in conversation about innovation.
LMRE is globally recognised for leading the way in Real Estate Tech & Innovation talent management.
From the outset our vision was to become a global provider of the very best strategic talent to the most innovative organisations in PropTech, ConTech, Smart Buildings, ESG, Sustainability and Strategic Consulting.
At LMRE we are fully committed at all times to exceed the expectations of our candidates and clients by providing the very best advice and by unlocking exclusive opportunities across our global network in the UK, Europe, North America and Asia-Pacific.
[2:03] Daniel: Can you tell us more about what your role is?
[3:07] Farzana: Can you tell us what led you to McKinsey and what is your role?
[4:27] Daniel: Are risks always visible in a portfolio and how do you assess risk when it comes down to climate?
[7:29] Farzana: What do you spend most of your time doing?
[9:49] Daniel: What are the risks associated with transitioning to net-zero?
[12:07] Farzana: Would you like to add anything to the risks associated with transitioning to net-zero?
[15:34] Daniel: What strategies are clients going for when trying to balance rising energy prices, maintaining a profit and pushing forward to net-zero?
[17:27] Daniel: What are the major trends and changes you’ve seen within ESG and real estate since working at McKinsey?
[20:03] Farzana: What trends have you seen in ESG and the finance and insurance sectors?
[24:35] Daniel: What are the key questions that clients in real estate should be asking?
[27:33] Daniel: Do you think there is a skill gap at the moment that needs to change?
[29:21] Farzana: What are the two most important questions you can ask as a business owner when trying to make your business more sustainable?
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