Reflections on 20 Years of McKinsey on Finance—and Three Challenges Ahead
Revolutionary innovations, brilliant ideas, and climate imperatives will change everything—except the fundamentals of finance and economics.
What will the next 20 years bring? One ignores the likelihood of immense changes at one’s peril. We don’t have a crystal ball. But we do have a compass: long-term value creation. We’ve studied, been challenged about, sharpened our thinking on, and ultimately reinforced our appreciation of core economic and financial principles, particularly as they apply through very uncertain times.
Companies that seek to create value from less carbon-intensive businesses will need a competitive advantage; simply having capital to invest or reallocate will not be enough.