CINXE.COM
Can coastal cities turn the tide on climate change flooding risk? | McKinsey
<!DOCTYPE html><html dir="ltr" lang="en"><head><meta charSet="utf-8"/><meta name="viewport" content="width=device-width, initial-scale=1.0"/><meta http-equiv="X-UA-Compatible" content="IE=edge"/><script async="" src="//sandbox.piano.io/xbuilder/experience/load?aid=cJo8WPy0su"></script><script></script><script>var McKinsey = {"ArticleTemplate":"Legacy","DaysSinceCMSPublication":"330","DisplayDate":"4/20/2020","OriginalPublicationDate":"4/20/2020","SourcePublication":"MGI Research","SitecoreId":"{2F953DAB-8F7C-4B25-98F4-9F55A6422E85}","Title":"Can coastal cities turn the tide on rising flood risk?","ArticleType":"Article","ContentType":"Article","ServerNumber":"","IsPageRestricted":"false","UserID":"","RegistrationDate":"","LoginStatus":"logged_out","JobTitle":"","CompanyName":"","blogTags":null,"enableRegWall":false}; var pageMetaInformation = {"CurrentLanguage":"en","AlternateLanguages":[{"DisplayName":"English","LanguageCode":"en","Url":"/capabilities/sustainability/our-insights/can-coastal-cities-turn-the-tide-on-rising-flood-risk"}],"NavigationLink":"capabilities","ActiveItemId":"{167A4DEB-04E8-4AA5-8531-1F0306D97396}","OfficeCode":"","MiniSiteId":"{A0C88A50-47ED-49AB-9934-443BB95D39E5}"};</script><link rel="icon" href="/favicon.ico"/><link href="https://www.mckinsey.com/redesign/resources/css/styles-rc.css" rel="stylesheet"/><link rel="manifest" href="/manifest.json"/><link rel="dns-prefetch" href="//cdn.dynamicyield.com"/><link rel="dns-prefetch" href="//st.dynamicyield.com"/><link rel="dns-prefetch" href="//rcom.dynamicyield.com"/><link rel="dns-prefetch" href="//cdn.cookielaw.org"/><link rel="preconnect" href="//assets.adobedtm.com"/><link rel="preconnect" href="//connect.facebook.net"/><link rel="preconnect" href="//static.hotjar.com"/><link rel="preload" as="font" href="/next-static/fonts/bower/Bower-Bold.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/regular/McKinseySans-Regular.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/medium/McKinseySans-Medium.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/light/McKinseySans-Light.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/italic/McKinseySans-Italic.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/light-italic/McKinseySans-LightItalic.woff2" type="font/woff2" crossorigin=""/><link rel="preload" as="font" href="/next-static/fonts/mckinsey-sans/medium-italic/McKinseySans-MediumItalic.woff2" type="font/woff2" crossorigin=""/><meta name="apple-itunes-app" content="app-id=674902075"/><link rel="apple-touch-icon" sizes="57x57" href="/next-static/images/mck-touch-icon-57x57.png"/><link rel="apple-touch-icon" sizes="72x72" href="/next-static/images/mck-touch-icon-72x72.png"/><link rel="apple-touch-icon" sizes="114x114" href="/next-static/images/mck-touch-icon-114x114.png"/><link rel="apple-touch-icon" sizes="144x144" href="/next-static/images/mck-touch-icon-144x144.png"/><link rel="apple-touch-icon" sizes="152x152" href="/next-static/images/mck-touch-icon-152x152.png"/><link rel="apple-touch-icon" sizes="167x167" href="/next-static/images/mck-touch-icon-167x167.png"/><link rel="apple-touch-icon" sizes="180x180" href="/next-static/images/mck-touch-icon-180x180.png"/><meta content="no-referrer-when-downgrade" name="referrer"/><meta content="McKinsey & Company" property="og:site_name" name="site_name"/><meta content="Can coastal cities turn the tide on rising flood risk?" property="og:title" name="title"/><meta content="Climate change means flooding is becoming more frequent in coastal cities. Here's what we can learn from Ho Chi Minh City and Bristol, UK" property="og:description" name="description"/><meta content="https://www.mckinsey.com/capabilities/sustainability/our-insights/can-coastal-cities-turn-the-tide-on-rising-flood-risk" name="url" property="og:url"/><meta content="index,follow,all" name="robots"/><meta content="https://www.mckinsey.com/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/coastal-cities-natgeo_2181781-standard-1536x1536.jpg" property="og:image" name="image"/><meta content="{2F953DAB-8F7C-4B25-98F4-9F55A6422E85}" name="sid"/><link href="https://www.mckinsey.com/capabilities/sustainability/our-insights/can-coastal-cities-turn-the-tide-on-rising-flood-risk" rel="canonical"/><meta content="Sustainability" name="practice-name"/><meta content="N31" name="practice-code"/><meta content="summary_large_image" name="twitter:card"/><meta content="@mckinsey" name="twitter:site"/><title>Can coastal cities turn the tide on climate change flooding risk? | McKinsey</title><meta content="Insights & Publications" name="sections"/><meta content="Can coastal cities turn the tide on rising flood risk?" name="twitter:title"/><meta content="Climate change means flooding is becoming more frequent in coastal cities. Here's what we can learn from Ho Chi Minh City and Bristol, UK" name="twitter:description"/><meta content="Article" property="contenttype" name="contenttype"/><meta content="https://www.mckinsey.com/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/coastal-cities-natgeo_2181781-standard-1536x1536.jpg?mw=677&car=42:25" name="twitter:image"/><meta content="Can coastal cities turn the tide on rising flood risk?" name="twitter:image:alt"/><meta content="public" name="accesslevel"/><meta content="false" name="excludefromclientlink"/><meta content="MGI Research" name="articlesource"/><meta content="article" name="articletype"/><meta content="Lola Woetzel | Dickon Pinner | Hamid Samandari | Hauke Engel | Mekala Krishnan | Brodie Boland | Peter Cooper" name="authors-name"/><meta content="2020-04-20T00:00:00Z" name="itemdate"/><meta content="Sustainability | Article | McKinsey Global Institute | April 20, 2020" name="searchresults-tags"/><script type="application/ld+json">{"@context":"https://schema.org","@type":"Article","url":"https://www.mckinsey.com","publisher":{"@type":"Organization","name":"McKinsey & Company","logo":{"@type":"ImageObject","url":"https://www.mckinsey.com/~/media/Thumbnails/Mck_Logo"}},"mainEntityOfPage":{"@type":"WebPage","@id":"https://www.mckinsey.com/capabilities/sustainability/our-insights/can-coastal-cities-turn-the-tide-on-rising-flood-risk"},"datePublished":"2020-04-20T20:43:00Z","dateCreated":"2020-09-08T15:07:27Z","dateModified":"2020-04-20T00:00:00Z","heading":"Can coastal cities turn the tide on rising flood risk?","image":"https://www.mckinsey.com/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/coastal-cities-natgeo_2181781-standard-1536x1536.jpg","description":"Climate change means flooding is becoming more frequent in coastal cities. Here's what we can learn from Ho Chi Minh City and Bristol, UK","author":[{"@type":"Person","name":"Lola Woetzel"},{"@type":"Person","name":"Dickon Pinner"},{"@type":"Person","name":"Hamid Samandari"},{"@type":"Person","name":"Hauke Engel"},{"@type":"Person","name":"Mekala Krishnan","url":"https://www.mckinsey.com/our-people/mekala-krishnan"},{"@type":"Person","name":"Brodie Boland","url":"https://www.mckinsey.com/our-people/brodie-boland"},{"@type":"Person","name":"Peter Cooper"}]}</script><meta name="next-head-count" content="59"/><meta name="next-font-preconnect"/><script src="" id="gtag-manager" data-nscript="beforeInteractive"> (function(w, d, s, l, i) { w[l] = w[l] || []; w[l].push({ 'gtm.start': new Date().getTime(), event: 'gtm.js' }); var f = d.getElementsByTagName(s)[0], j = d.createElement(s), dl = l != 'dataLayer' ? '&l=' + l : ''; j.async = true; j.src = 'https://www.googletagmanager.com/gtm.js?id=' + i + dl; f.parentNode.insertBefore(j, f); })(window, document, 'script', 'dataLayer', 'GTM-NJ7TLQ2W'); </script><script src="" id="onetrust-wrapperchecker" data-nscript="beforeInteractive">function OptanonWrapperChecker() {}</script><link rel="preload" href="/_next/static/css/b4162f37e49d8081.css" as="style"/><link rel="stylesheet" href="/_next/static/css/b4162f37e49d8081.css" data-n-g=""/><link rel="preload" href="/_next/static/css/263b89d6f62640b6.css" as="style"/><link rel="stylesheet" href="/_next/static/css/263b89d6f62640b6.css" data-n-p=""/><link rel="preload" href="/_next/static/css/b9ab7b649e8aa36e.css" as="style"/><link rel="stylesheet" href="/_next/static/css/b9ab7b649e8aa36e.css"/><link rel="preload" href="/_next/static/css/72fc56b1fbe032aa.css" as="style"/><link rel="stylesheet" href="/_next/static/css/72fc56b1fbe032aa.css"/><link rel="preload" href="/_next/static/css/fef859298b7853ea.css" as="style"/><link rel="stylesheet" href="/_next/static/css/fef859298b7853ea.css"/><link rel="preload" href="/_next/static/css/5e45d445fc213154.css" as="style"/><link rel="stylesheet" href="/_next/static/css/5e45d445fc213154.css"/><noscript data-n-css=""></noscript><script defer="" nomodule="" src="/_next/static/chunks/polyfills-5cd94c89d3acac5f.js"></script><script src="https://cdn.cookielaw.org/scripttemplates/otSDKStub.js" data-document-language="true" type="text/javascript" data-domain-script="915b5091-0d7e-44d2-a8c4-cf08267e52fe" defer="" data-nscript="beforeInteractive"></script><script defer="" src="/_next/static/chunks/281.b4ac7d01a30ec2f7.js"></script><script defer="" src="/_next/static/chunks/6731.9bccca8a7edb0704.js"></script><script defer="" src="/_next/static/chunks/2354.05223bcb67691d75.js"></script><script defer="" src="/_next/static/chunks/8578.dc4586056e5a019b.js"></script><script defer="" src="/_next/static/chunks/8391.9f0f27f73b780083.js"></script><script src="/_next/static/chunks/webpack.a343cb3226d712c3.js" defer=""></script><script src="/_next/static/chunks/framework.62bbe2ca94854a85.js" defer=""></script><script src="/_next/static/chunks/main.51e10588adc949ca.js" defer=""></script><script src="/_next/static/chunks/pages/_app.efd8da288ba65325.js" defer=""></script><script src="/_next/static/chunks/3b1baa31.cd6cdac6158774d8.js" defer=""></script><script src="/_next/static/chunks/7d0bf13e.8f3383787afb45af.js" defer=""></script><script src="/_next/static/chunks/1354.c34ddc4bd7c986c8.js" defer=""></script><script src="/_next/static/chunks/408.f1e6dcef6986b377.js" defer=""></script><script src="/_next/static/chunks/pages/%5B%5B...path%5D%5D.0e7d31a1f4d90875.js" defer=""></script><script src="/_next/static/jIkMSrTx4uqE8V-HInFJO/_buildManifest.js" defer=""></script><script src="/_next/static/jIkMSrTx4uqE8V-HInFJO/_ssgManifest.js" defer=""></script><script src="/_next/static/jIkMSrTx4uqE8V-HInFJO/_middlewareManifest.js" defer=""></script> <script>(window.BOOMR_mq=window.BOOMR_mq||[]).push(["addVar",{"rua.upush":"false","rua.cpush":"false","rua.upre":"false","rua.cpre":"false","rua.uprl":"false","rua.cprl":"false","rua.cprf":"false","rua.trans":"","rua.cook":"false","rua.ims":"false","rua.ufprl":"false","rua.cfprl":"false","rua.isuxp":"false","rua.texp":"norulematch","rua.ceh":"false","rua.ueh":"false","rua.ieh.st":"0"}]);</script> <script>!function(a){var e="https://s.go-mpulse.net/boomerang/",t="addEventListener";if("False"=="True")a.BOOMR_config=a.BOOMR_config||{},a.BOOMR_config.PageParams=a.BOOMR_config.PageParams||{},a.BOOMR_config.PageParams.pci=!0,e="https://s2.go-mpulse.net/boomerang/";if(window.BOOMR_API_key="TURRK-8ADJT-WDUC5-TC32E-KV9ND",function(){function n(e){a.BOOMR_onload=e&&e.timeStamp||(new Date).getTime()}if(!a.BOOMR||!a.BOOMR.version&&!a.BOOMR.snippetExecuted){a.BOOMR=a.BOOMR||{},a.BOOMR.snippetExecuted=!0;var i,_,o,r=document.createElement("iframe");if(a[t])a[t]("load",n,!1);else if(a.attachEvent)a.attachEvent("onload",n);r.src="javascript:void(0)",r.title="",r.role="presentation",(r.frameElement||r).style.cssText="width:0;height:0;border:0;display:none;",o=document.getElementsByTagName("script")[0],o.parentNode.insertBefore(r,o);try{_=r.contentWindow.document}catch(O){i=document.domain,r.src="javascript:var d=document.open();d.domain='"+i+"';void(0);",_=r.contentWindow.document}_.open()._l=function(){var a=this.createElement("script");if(i)this.domain=i;a.id="boomr-if-as",a.src=e+"TURRK-8ADJT-WDUC5-TC32E-KV9ND",BOOMR_lstart=(new Date).getTime(),this.body.appendChild(a)},_.write("<bo"+'dy onload="document._l();">'),_.close()}}(),"".length>0)if(a&&"performance"in a&&a.performance&&"function"==typeof a.performance.setResourceTimingBufferSize)a.performance.setResourceTimingBufferSize();!function(){if(BOOMR=a.BOOMR||{},BOOMR.plugins=BOOMR.plugins||{},!BOOMR.plugins.AK){var e=""=="true"?1:0,t="",n="bdpnbeqxgy4diz5tevdq-f-19500d901-clientnsv4-s.akamaihd.net",i="false"=="true"?2:1,_={"ak.v":"39","ak.cp":"19387","ak.ai":parseInt("285213",10),"ak.ol":"0","ak.cr":4,"ak.ipv":4,"ak.proto":"http/1.1","ak.rid":"d3d2e0c","ak.r":37669,"ak.a2":e,"ak.m":"a","ak.n":"essl","ak.bpcip":"8.222.208.0","ak.cport":42784,"ak.gh":"23.53.33.206","ak.quicv":"","ak.tlsv":"tls1.2","ak.0rtt":"","ak.0rtt.ed":"","ak.csrc":"-","ak.acc":"reno","ak.t":"1739793735","ak.ak":"hOBiQwZUYzCg5VSAfCLimQ==NmQG8H4UwzQsP1Q4mh39GB+iQP/adRsb+fWmcbtM30nrkw7wAGNBL9VS7dvFmSYV17l8I+lWKSNeRBd/zetzgoyJcvs+k7Clm6RIuZLGULz08pLU0OSCJmom6kgAg6E5OSeBgjBg3e/71X1HTLrnGcemgQkotbGKgxshC7mjZ43cjbnTTWF0iZmeCsr1UhOMSXr+5/nZ5Tfcg6lpN0FWDxPZBk0z45BKeaZWfQFAQr0Kn5cBDMiI/orTR83V8edPhHtlBBZ/FJxjyxVffI3Wuh8NiNsIOIevjeS5NZkUsBvw741cTo+sglZ8rvV1Lgwn6ARwLhi0MexFZvcW7ZN//eVcItJc1Pzg8jjQLwvS4pMsuV3nrPnUVoYwp8OLuf+z93K0IG6tJTVr7F2iLAYMjOh2kHppPSK6ABWYgFa2B20=","ak.pv":"597","ak.dpoabenc":"","ak.tf":i};if(""!==t)_["ak.ruds"]=t;var o={i:!1,av:function(e){var t="http.initiator";if(e&&(!e[t]||"spa_hard"===e[t]))_["ak.feo"]=void 0!==a.aFeoApplied?1:0,BOOMR.addVar(_)},rv:function(){var a=["ak.bpcip","ak.cport","ak.cr","ak.csrc","ak.gh","ak.ipv","ak.m","ak.n","ak.ol","ak.proto","ak.quicv","ak.tlsv","ak.0rtt","ak.0rtt.ed","ak.r","ak.acc","ak.t","ak.tf"];BOOMR.removeVar(a)}};BOOMR.plugins.AK={akVars:_,akDNSPreFetchDomain:n,init:function(){if(!o.i){var a=BOOMR.subscribe;a("before_beacon",o.av,null,null),a("onbeacon",o.rv,null,null),o.i=!0}return this},is_complete:function(){return!0}}}}()}(window);</script></head><body><noscript><iframe title="Google Tag Manager" src="https://www.googletagmanager.com/ns.html?id=GTM-NJ7TLQ2W" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript><div id="__next" data-reactroot=""><div class="Layout_mck-c-skipbar__K684J"><a data-component="mdc-c-link" href="#skipToMain" class="mdc-c-button___U4iY2_8032924 mdc-c-button--primary___Ed-lT_8032924 mdc-c-button--size-medium"><span class="mdc-c-link__label___Pfqtd_8032924">Skip to main content</span></a></div><main class="mck-o-container--outer" data-layer-region="body" role="main" id="skipToMain"><style> .global-header-wrapper [class*='primary-nav'], .global-header-wrapper [class*='mck-c-eyebrow'], .global-header-wrapper .section-name-desktop, .global-header-wrapper .section-name { display: none !important; } .global-header.is-transparent.-theme-light:before, .global-header.is-transparent.-theme-dark:after { opacity: 0; }</style><div class="FullHero_mck-c-full-hero__jgmkB full-bleed" data-transparent-header="true"><div data-component="mdc-c-module-wrapper" data-module-theme="dark" data-module-background="deep-gradient" data-module-category="AnchoredHero" class=""><div class="FullHero_mck-c-full-hero__wrapper-media__wxfB9"><div class="FullHero_mck-c-full-hero__overlay__eIX_8"></div><style></style><div data-component="mdc-c-background-image" class="mdc-c-bg-image___GJdv1_8032924 background-image-full-hero mck-c-full-hero__image"></div><div class="FullHero_mck-c-full-hero__gradient__427rL"></div></div><div class="FullHero_mck-c-full-hero__first-fold__7fXFg"><div class="FullHero_mck-c-full-hero__first-fold-content__F5jdd"><div class="mdc-o-container__wrapper mdc-u-spaced-mobile mdc-u-grid mdc-u-grid-gutter-xxl FullHero_mck-c-full-hero__title-container__YfybZ"><div class="mdc-u-grid mdc-u-grid-col-md-12"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11 mdc-u-spaced-mobile mdc-u-align-center mdc-u-grid"><div><a data-component="mdc-c-link" href="/mgi/overview" class="mdc-u-ts-10 mdc-c-link___lBbY1_8032924 mdc-c-link--secondary___TSFam_8032924"><span class="mdc-c-link__label___Pfqtd_8032924">MGI Research</span></a><h1 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_8032924 mdc-u-ts-2 FullHero_mck-c-full-hero__heading__RgATx"><div>Can coastal cities turn the tide on rising flood risk?</div></h1></div><div><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_8032924 mdc-u-ts-8 FullHero_mck-c-full-hero__date__jb4gN"><div><time datetime="2020-04-20T00:00:00Z">April 20, 2020</time> | Article</div></div></div><div><button data-component="mdc-c-button" aria-label="" type="button" id="button_id" class="mdc-c-button___U4iY2_8032924 mdc-c-button--ghost mdc-c-button--size-medium FullHero_mck-c-full-hero__arrow__jtXdj" data-click-track="true" data-layer-event-prefix="UI Item" data-layer-action="click" data-layer-category="article" data-layer-text="skip article header section" data-layer-region="full hero"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_8032924 mdc-c-icon--size-xl___3BEee_8032924 mck-arrow-down-icon"></span></button></div></div></div></div></div></div></div><div data-component="mdc-c-module-wrapper" data-module-theme="dark" data-module-background="deep-gradient" data-module-category="AnchoredHero" data-module-gradient-position="bottom-right" class=""><div class="FullHero_mck-c-full-hero__second-fold__gUeV7" tabindex="-1"><div class="mck-c-full-hero__second-fold-content"><div class="mck-o-container"><div class="mck-o-container--wrapped mck-o-container--mobile-spacing mdc-u-grid mdc-u-grid-gutter-xxl"><div class="mdc-u-grid mdc-u-grid-col-md-12"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_8032924 mdc-u-ts-8 FullHero_mck-c-full-hero__description__WOtti"><span>Coastal cities are on the front line of flooding. Two very different cities, Ho Chi Minh City and Bristol, help illustrate variations in risks and approaches to adaptation.</span></div></div></div></div></div></div></div><div class="FullHero_mck-c-full-hero__background__tdkXY"></div></div></div><div class="mck-o-container"><div class="mck-o-container--wrapped mck-o-container--mobile-spacing mdc-u-grid mdc-u-grid-gutter-xxl"><section data-layer-region="article-body-header" class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-animation-blur-in-400 byline-share-container"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-8 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-8 mdc-u-ts-9"><span> </span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Lola Woetzel<!-- --> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Dickon Pinner<!-- --> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Hamid Samandari<!-- --> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Hauke Engel<!-- --> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/mekala-krishnan" class="mdc-c-link-inline___7DRrt_8032924 mdc-c-link-inline--secondary___YKoOK_8032924"><span class="mdc-c-link__label___Pfqtd_8032924">Mekala Krishnan</span></a> </span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j"><a data-component="mdc-c-link" href="/our-people/brodie-boland" class="mdc-c-link-inline___7DRrt_8032924 mdc-c-link-inline--secondary___YKoOK_8032924"><span class="mdc-c-link__label___Pfqtd_8032924">Brodie Boland</span></a><span> </span></span></span><span class="AuthorsByLine_mck-c-authors-byline__author__XdrlD"><span class="AuthorsByLine_mck-c-authors-byline__no-wrap__Ced0j">Peter Cooper</span></span></div><div class="mdc-u-grid-col-md-start-8 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-8 mdc-u-grid-col-lg-end-11 ArticleContent_mck-c-article-content__share-tools__kWRRw"></div></section><main data-layer-region="article-body" class="mdc-u-grid mdc-u-grid-gutter-xxl"><div class="mdc-u-grid mdc-u-grid-col-1 mdc-u-grid-col-md-12"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><div class="mdc-o-content-body mck-u-dropcap"><div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="DownloadsSidebar_mck-c-downloads-sidebar__iFmyt mck-o-xs-right-span"><div data-layer-region="downloads-right-rail"><h3 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_8032924 mdc-c-heading--title___5qyOB_8032924 mdc-c-heading--border___K8dj3_8032924"></h3><div><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_8032924"><a data-component="mdc-c-link" href="/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/mgi-can-coastal-cities-turn-the-tide-on-rising-flood-risk.pdf" class="DownloadsSidebar_mck-c-downloads-sidebar__download-link__fPqFQ mdc-c-link___lBbY1_8032924" target="_blank" data-layer-event-prefix="Download Link" data-layer-action="click" data-layer-report-type="" data-layer-file-name="mgi-can-coastal-cities-turn-the-tide-on-rising-flood-risk" data-layer-report-name="mgi-can-coastal-cities-turn-the-tide-on-rising-flood-risk>"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_8032924 mdc-c-icon--size-md___yi5fA_8032924 mck-download-icon"></span><span class="mdc-c-link__label___Pfqtd_8032924"> (PDF-4 MB)</span></a></div></div></div></div> <p><strong>Climate change is increasing</strong> the destructive power of flooding from extreme rain and rising seas and rivers. Many cities around the world are exposed. Strong winds during storms and hurricanes can drive coastal flooding through storm surge. As hurricanes and storms become more severe, surge height increases. Changing hurricane paths may shift risk to new areas. Sea-level rise amplifies storm surge and brings in additional chronic threats of tidal flooding. Pluvial and riverine flooding becomes more severe with increases in heavy precipitation. Floods of different types can combine to create more severe events known as compound flooding. <a target="_blank" href="https://iopscience.iop.org/article/10.1088/1748-9326/aab792" rel="noopener noreferrer">With warming of 1.5 degrees Celsius</a>, 11 percent of the global land area is projected to experience a significant increase in flooding, while warming of 2.0 degrees almost doubles the area at risk.</p> <p>When cities flood, in addition to often devastating human costs, real estate is destroyed, infrastructure systems fail, and entire populations can be left without critical services such as power, transportation, and communications. In this case study we simulate floods at the most granular level (up to two-by-two-meter resolution) and explore how flood risk may evolve for <a href="#HCMC">Ho Chi Minh City</a> (HCMC) and <a href="#Bristol">Bristol</a> (See sidebar, “An overview of the case study analysis”). Our aim is to illustrate the changing extent of flooding, the landscape of human exposure, and the magnitude of societal and economic impacts. </p> <div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="lightest-grey" data-module-category="" data-module-gradient-position="bottom-right" class="mck-c-inline-module-container SideBar_mck-c-sidebar__bgimg-wrapper__Qj4Dt mck-o-sm-left-span SideBar_mck-c-sidebar__sidebar-wrapper__Dpjw2 SideBar_mck-c-sidebar__sidebar-wrapper--istablet__IQ6ii mck-u-screen-only mck-c-module-wrapper" data-layer-region="sidebar"><div class="SideBar_mck-c-sidebar__epoAm mck-o-md-center"><div class="SideBar_mck-c-sidebar__share-icons-wrapper__9gB_c"><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_8032924 mdc-c-link-container--display-column___X0HDD_8032924 SideBar_mck-c-sidebar__share-icons___eQy6"><div data-component="mdc-c-dropdown-menu" class="mdc-c-drop-down"><button data-component="mdc-c-button" aria-label="" type="button" id="button_id" class="mdc-c-button___U4iY2_8032924 mdc-c-button--ghost mdc-c-button--size-medium mdc-c-drop-down__rootmenu___yJzvz_8032924" aria-expanded="false" aria-haspopup="menu"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_8032924 mdc-c-icon--default___f-hQM_8032924 mdc-c-icon--size-md___yi5fA_8032924 mck-share2-icon"></span></button><div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="white" data-module-category="" class=""></div></div><button data-component="mdc-c-button" aria-label="Expandable Sidebar" type="button" id="button_id" class="mdc-c-button___U4iY2_8032924 mdc-c-button--ghost mdc-c-button--size-medium SideBar_mck-c-sidebar__toggle-btn__EL8iE" aria-expanded="false" data-layer-event-prefix="UI Item" data-layer-action="click" data-layer-category="sidebar" data-layer-subcategory="open" data-layer-text="open sidebar"><span data-component="mdc-c-icon" class="mdc-c-icon___oi7ef_8032924 mdc-c-icon--radial___y3csX_8032924 mdc-c-icon--size-xxl___cL3ZT_8032924 mck-plus-no-circle-icon"></span></button></div></div><div class="SideBar_mck-c-sidebar__content-outer__UdWCq"><div class="SideBar_mck-c-sidebar__eyebrow__5GSEq"></div><div class="SideBar_mck-c-sidebar__content__raEwe"><h2 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_8032924 mdc-u-ts-3 SideBar_mck-c-sidebar__content-heading__NJekY"><div>An overview of the case study analysis</div></h2><div class="SideBar_mck-c-sidebar__content-description__4p9iI mdc-u-ts-7"><div class="mdc-o-content-body"><p>In <em><a href="/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts">Climate risk and response: Physical hazards and socioeconomic impacts</a></em>, we measured the impact of climate change by the extent to which it could affect human beings, human-made physical assets, and the natural world. We explored risks today and over the next three decades and examined specific cases to understand the mechanisms through which climate change leads to increased socioeconomic risk. </p> <p>In order to link physical climate risk to socioeconomic impact, we investigated cases that illustrated exposure to climate change extremes and proximity to physical thresholds. These cover a range of sectors and geographies and provide the basis of a “micro-to-macro” approach that is a characteristic of McKinsey Global Institute research. To inform our selection of cases, we considered over 30 potential combinations of climate hazards, sectors, and geographies based on a review of the literature and expert interviews on the potential direct impacts of physical climate hazards. We found these hazards affect five different key socioeconomic systems: livability and workability, food systems, physical assets, infrastructure services, and natural capital. </p> <p>We ultimately chose nine cases to reflect these systems and to represent leading-edge examples of climate change risk. Each case is specific to a geography and an exposed system, and thus is not representative of an “average” environment or level of risk across the world. Our cases show that the direct risk from climate hazards is determined by the severity of the hazard and its likelihood, the exposure of various “stocks” of capital (people, physical capital, and natural capital) to these hazards, and the resilience of these stocks to the hazards (for example, the ability of physical assets to withstand flooding). We typically define the climate state today as the average conditions between 1998 and 2017, in 2030 as the average between 2021 and 2040, and in 2050 between 2041 and 2060. Through our case studies, we also assess the knock-on effects that could occur, for example to downstream sectors or consumers. We primarily rely on past examples and empirical estimates for this assessment of knock-on effects, which is likely not exhaustive given the complexities associated with socioeconomic systems. Through this “micro” approach, we offer decision makers a methodology by which to assess direct physical climate risk, its characteristics, and its potential knock-on impacts. </p> <p>Climate science makes extensive use of scenarios ranging from lower (Representative Concentration Pathway 2.6) to higher (RCP 8.5) CO<sub>2</sub> concentrations. We have chosen to focus on RCP 8.5, because the higher-emission scenario it portrays enables us to assess physical risk in the absence of further decarbonization. (We also choose a sea-level rise scenario for one of our cases that is consistent with the RCP 8.5 trajectory). Such an "inherent risk" assessment allows us to understand the magnitude of the challenge and highlight the case for action. For a detailed description of the reason for this choice see the technical appendix of the full report. </p> <p>Our case studies cover each of the five systems we assess to be directly affected by physical climate risk, across geographies and sectors. While climate change will have an economic impact across many sectors, our cases highlight the impact on construction, agriculture, finance, fishing, tourism, manufacturing, real estate, and a range of infrastructure-based sectors. The cases include the following: </p> <ul> <li>For livability and workability, we look at the risk of exposure to extreme heat and humidity in India and what that could mean for that country’s urban population and outdoor-based sectors, as well as at the changing Mediterranean climate and how that could affect sectors such as wine and tourism. </li> <li> For food systems, we focus on the likelihood of a multiple-breadbasket failure affecting wheat, corn, rice, and soy, as well as, specifically in Africa, the impact on wheat and coffee production in Ethiopia and cotton and corn production in Mozambique. </li> <li> For physical assets, we look at the potential impact of storm surge and tidal flooding on Florida real estate and the extent to which global supply chains, including for semiconductors and rare earths, could be vulnerable to the changing climate. </li> <li>For infrastructure services, we examine 17 types of infrastructure assets, including the potential impact on coastal cities such as Bristol in England and Ho Chi Minh City in Vietnam. </li> <li> Finally, for natural capital, we examine the potential impacts of glacial melt and runoff in the Hindu Kush region of the Himalayas; what ocean warming and acidification could mean for global fishing and the people whose livelihoods depend on it; as well as potential disturbance to forests, which cover nearly one-third of the world’s land and are key to the way of life for 2.4 billion people.</li> </ul></div></div></div></div></div></div> <p>We chose these cities for the contrasting perspectives they offer: Ho Chi Minh City in an emerging economy, Bristol in a mature economy; Ho Chi Minh City in a regular flood area, Bristol in an area developing a significant flood risk for the first time in a generation. </p> <p>We find the metropolis of Ho Chi Minh City can survive its flood risk today, but its plans for rapid <a href="/capabilities/operations/our-insights/bridging-infrastructure-gaps-has-the-world-made-progress">infrastructure</a> expansion and continued economic growth could be incompatible with an increase in risk. The city has a wide range of adaptation options at its disposal but no silver bullet. </p> <p>In the much smaller city of Bristol, we find a risk of flood damages growing from the millions to the billions, driven by high levels of exposure. The city has fewer adaptation options at its disposal, and its biggest challenge may be building political and financial support for change. </p> <a id="HCMC"></a> <h2>How significant are the flood risks facing Ho Chi Minh City and what can the city do?</h2> <!-- --> <p>Flooding is a common part of life in Ho Chi Minh City. <a target="_blank" href="https://www.researchgate.net/publication/283378874_Improvement_of_flood_risk_assessment_under_climate_change_in_Ho_Chi_Minh_City_with_GIS_applications" rel="noopener noreferrer">This includes flooding from</a> monsoonal rains, which account for about 90 percent of annual rainfall, tidal floods and storm surge from typhoons and other weather events. Of the city’s 322 communes and wards, <a target="_blank" href="http://www.icem.com.au/documents/climatechange/hcmc_cc/hcmc_ccdraftreport_vol2_main_report.pdf" rel="noopener noreferrer">about half have a history of regular flooding</a> with 40 to 45 percent of land in the city less than one meter above sea level. </p> <!-- --> <p>In our analysis, we quantify the possible impact on the city as floods hit real estate and infrastructure assets.<span class="FootNote_footnote-holder__tjRqy"><a aria-label="footnote" href="javascript:void(0);" class="FootNote_footnote-wrapper__AIRwL undefined FootNote_bottom__9aoSL FootNote_inactive__VZfCp" aria-describedby="92cfbe47-6102-4d96-be94-2233ba524fff"><sup class="FootNote_footnotesup__e73z_">1</sup><span class="FootNote_notch-wrapper__b_5NS"><span class="FootNote_notch__omKtY"></span></span><span class="FootNote_tooltip__QtrbA mdc-u-mt-2"><span class="FootNote_footnote-content__r2OVl"><span id="92cfbe47-6102-4d96-be94-2233ba524fff" aria-hidden="true" data-module-theme="light" class="FootNote_footnote-text__VjKgO mck-u-links-inline">Flood modeling and expert guidance were provided by an academic consortium of Institute for Environmental Studies, Vrije Universiteit Amsterdam, and Center of Water Management and Climate Change, Vietnam National University. Infrastructure assets covered include both those currently available and those under construction, planned, or speculated. Knock-on effects are adjusted for estimates of economic and population growth.</span></span></span></a></span> We simulate possible 1 percent probability flooding scenarios for the city for three periods: today, 2050, and a longer-term scenario of 180 centimeters of sea-level rise, which some infrastructure assets built by 2050 may experience as a worse-case in their lifetime (Exhibit 1). </p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mck-c-content-header"><div class="ContentHeader_mck-c-content-header__eyebrow__cBTe_"></div></div><div class="mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/svgz-mgi-climatecasestudycoastal-web-exh1-vf.svgz?cq=50&cpy=Center"/><img alt="" src="/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/svgz-mgi-climatecasestudycoastal-web-exh1-vf.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <ul> <li><strong><em>Today:</em></strong> We estimate that 23 percent of the city could flood, and a range of existing assets would be taken offline; infrastructure damage may total $200 million to $300 million. Knock-on effects would be significant, and we estimate could total a further $100 million to $400 million. Real estate damage may total $1.5 billion.</li> <li><strong><em>2050:</em></strong> A flood with the same probability in 30 years’ time would likely do three times the physical damage and deliver 20 times the knock-on effects. We estimate that 36 percent of the city becomes flooded. In addition, many of the 200 new infrastructure assets are planned to be built in flooded areas. As a result, the damage bill would grow, totaling $500 million to $1 billion. Increased economic reliance on assets would amplify knock-on effects, leading to an estimated $1.5 billion to $8.5 billion in losses. An additional $8.5 billion in real estate damages could occur. </li> <li><strong><em>A 180 centimeters sea-level rise scenario:</em></strong> A 1 percent probability flood in this scenario may bring three times the extent of flood area. About 66 percent of the city would be underwater, driven by a large western area that suddenly pass an elevation threshold. Under this scenario, damage is critical and widespread, totaling an estimated $3.8 billion to $7.3 billion. Much of the city’s functionality may be shut down, with knock-on effects costing $6.4 billion to $45.1 billion. Real estate damage could total $18 billion. </li> </ul> <p>While “tail” events may suddenly break systems and cause extraordinary impact, extreme floods will be infrequent. Intensifying chronic events are more likely to have a greater effect on the economy, with a mounting annual burden over time. We estimate that intensifying regular floods may rise from about 2 percent today to about 3 percent of Ho Chi Minh City’s GDP annually by 2050 (Exhibit 2). </p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mck-c-content-header"><div class="ContentHeader_mck-c-content-header__eyebrow__cBTe_"></div></div><div class="mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/svgz_mgi-climatecasestudycoastal_web_exh2-final.svgz?cq=50&cpy=Center"/><img alt="Ho Chi Minh City could experience five to ten times the economic impact from an extreme flood in 2050 versus today." src="/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/svgz_mgi-climatecasestudycoastal_web_exh2-final.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>Ho Chi Minh City has time to adapt, and the city has many options to avert impacts because it is relatively early in its development journey. As less than half of the city’s major infrastructure needed for 2050 exists today, many of the potential adaptation options could be highly effective. We outline three key steps: </p> <ol> <li>Better planning to reduce exposure and risk</li> <li>Investing in adaptation through hardening and resilience</li> <li>Financial mobilization to mitigate impacts on lower-income populations</li> </ol> <p><em>For additional details on these actions, download the case study,</em> <a href="/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/mgi-can-coastal-cities-turn-the-tide-on-rising-flood-risk.pdf">Can coastal cities turn the tide on rising flood risk?</a> (PDF–4MB).</p> <a id="Bristol"></a> <h2>Could Bristol’s flood risk grow from a problem to a crisis by 2065?</h2> <!-- --> <p>Bristol is facing a new flood risk. The river Avon, which runs through the city, has the second largest tidal range in the world, yet it has not caused a major flood since 1968, when sea levels were lower, and the city was smaller and less developed. During very high tides, the Avon becomes “tide locked” and limits/restricts land drainage in the lower reaches of river catchment area. As a result, <a target="_blank" href="https://advances.sciencemag.org/content/5/9/eaaw5531" rel="noopener noreferrer">the city is vulnerable</a> to combined tidal and pluvial floods, which are sensitive to both sea-level rise and precipitation increase. Both are expected to climb with <a href="/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts">climate change</a>. While Bristol is generally hilly and most of the urban area is far from the river, the most economically valuable areas of the city center and port regions are on comparatively low-lying land.</p> <p>With the city’s support, we have modeled the socioeconomic impacts of 200-year (0.5 percent probability) combined tidal and fluvial flood risk, for today and for 2065. This considers the flood defenses in existence today; some of these were built after the 1968 flood, and many assumed a static climate would exist for their lifetime (Exhibit 3). </p> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mck-c-content-header"><div class="ContentHeader_mck-c-content-header__eyebrow__cBTe_"></div></div><div class="mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/svgz_mgi-climatecasestudycoastal_web_exh3-vf.svgz?cq=50&cpy=Center"/><img alt="By 2065, a 200-year flood in Bristol, United Kingdom, could be twice as extensive compared to today." src="/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/svgz_mgi-climatecasestudycoastal_web_exh3-vf.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>We find:</p> <ul> <li><strong><em>Today:</em></strong> The consequences of a major flood today in Bristol would be small but are still material. We find that the flood area would be relatively minor, with small overflows on the edges of the port area and isolated floods in the center of the city. Our model estimates that damage to the city’s infrastructure could amount to $10 million to $25 million, real estate damage to $15 million to $20 million, and knock-on effects of $20 million to $150 million.</li> <li><strong><em>2065:</em></strong> In contrast, by 2065, an extreme flood event could be devastating. Water would exceed the city’s flood defenses at multiple locations, hitting some of its most expensive real estate, damaging arterial transportation infrastructure, and destroying sensitive critical energy assets. Our model estimates that damages to the city’s infrastructure could amount to between $180 million and $390 million. It may also cause $160 million to $240 million of property damage. Overall, considering economic growth, knock-on effects could total $500 million to $2.8 billion, and disruptions could last weeks or months (Exhibit 4). </li> </ul> <div data-component="mdc-c-module-wrapper" data-module-theme="default" data-module-background="transparent" data-module-category="" class="mck-c-inline-module-container mck-o-md-center"><div class="mck-c-content-header"><div class="ContentHeader_mck-c-content-header__eyebrow__cBTe_"></div></div><div class="mck-u-inline-module-border-bottom"><picture data-component="mdc-c-picture" class="Exhibit_mck-c-exhibit__image__pyIDm"><source media="(min-width: 768px)" srcSet="/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/svgz_mgi-climatecasestudycoastal_web_exh4-vf.svgz?cq=50&cpy=Center"/><img alt="By 2065, a 200-year flood in Bristol, United Kingdom, could produce 18 times more infrastructure damage and 30 times more knock-on effects." src="/~/media/mckinsey/business%20functions/sustainability/our%20insights/can%20coastal%20cities%20turn%20the%20tide%20on%20rising%20flood%20risk/svgz_mgi-climatecasestudycoastal_web_exh4-vf.svgz?cq=50&cpy=Center" loading="lazy"/></picture></div><div class="mck-u-sr-only"></div></div> <p>Unlike many small and medium-size cities, Bristol has invested in understanding this risk. It has undertaken a detailed review of how the scale of flooding in the city will change in the future under different climate scenarios. This improved understanding of the risks is an example that other cities could learn from.</p> <p>However, adaptation is unlikely to be straightforward. It is difficult to imagine Bristol’s infrastructure assets being in a position more exposed to the city’s flood risk. Yet the center of the city, formed in the 1400s, cannot be shifted overnight, nor would its leafy reputation be the same today if the city had not oriented the growth of the past 20 years to harness its existing Edwardian and Victorian architecture. Unlike in Ho Chi Minh City, most of the infrastructure the city plans to have in place in 2065 has already been built. </p> <p>In the immediate future, Bristol’s hands are likely largely tied, and hard adaptation may be the most viable short-term solution. In the medium term, however, Bristol may be able to act to improve resilience through measures such as investing in sustainable urban drainage that may reduce the depth and duration of an extreme flood event. </p> <p><a target="_blank" href="https://www.bbc.com/news/uk-england-bristol-47525879" rel="noopener noreferrer">Bristol is already taking a proactive approach</a> to adaptation. A $130 million floodwall for the defense of Avonmouth was planned to begin in late 2019. The city is still scoping out a range of options to protect the city. As an outside-in estimate, based on scaling costs to build the Thames Barrier in 1982, plus additional localized measures that might be needed, protecting the city to 2065 may cost $250 million to $500 million (roughly 0.5 to 1.5 percent of Bristol’s GVA today compared to the possible flood impact we calculate of between 2 to 9 percent of the city’s GVA in 2065). However, the actual costs will largely depend on the final approach. </p> <p>Bristol has gotten ahead of the game by improving its own understanding of risk. Many other small cities are at risk of entering unawares into a new climatic band for which they and their urban areas are ill prepared. While global flood risk is concentrated in major coastal metropolises, a long tail of other cities may be equally exposed, less prepared, and less likely to bounce back. </p> <p><em>For additional details, download the case study,</em> <a href="/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/mgi-can-coastal-cities-turn-the-tide-on-rising-flood-risk.pdf">Can coastal cities turn the tide on rising flood risk?</a> (PDF–4MB). </p> <hr/> <p><strong>About this case study:</strong> </p> <p>In January 2020, the McKinsey Global Institute published <em><a href="/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts">Climate risk and response: Physical hazards and socioeconomic impacts</a>.</em> In that report, we measured the impact of climate change by the extent to which it could affect human beings, human-made physical assets, and the natural world over the next three decades. In order to link physical climate risk to socioeconomic impact, we investigated nine specific cases that illustrated exposure to climate change extremes and proximity to physical thresholds. </p></div><div class="container-placeholder"></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-xl"><section role="contentinfo" data-layer-region="article-about-authors" class="mdc-u-grid mdc-u-grid-col-md-12 AboutAuthor_mck-c-about-author__nRJzu"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-3 mdc-u-grid-col-lg-end-11"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_8032924 mdc-c-heading--title___5qyOB_8032924 mdc-c-heading--border___K8dj3_8032924 mdc-u-align-center"></h5><div data-component="mdc-c-description" class="mdc-c-description___SrnQP_8032924 mdc-u-ts-8 mck-u-links-inline mck-u-links-inline--secondary mdc-u-mt-5"><div><strong><a href="/sitecore/service/notfound.aspx?item=web%3a%7b8d840caa-6a65-4626-8ce5-1f9fefe604dd%7d%40en">Lola Woetzel</a></strong> is a director of the McKinsey Global Institute, where <strong><a href="/our-people/mekala-krishnan">Mekala Krishnan</a></strong> is a senior fellow. <strong>Dickon Pinner</strong> is a senior partner in McKinsey’s San Francisco office. <strong><a href="/sitecore/service/notfound.aspx?item=web%3a%7bfd4428d4-5bb2-466c-aea7-4305b520d6d0%7d%40en">Hamid Samandari</a></strong> is a senior partner in the New York office. <strong><a href="/sitecore/service/notfound.aspx?item=web%3a%7b9a8faf3f-fd54-4f70-b55b-f6901aad74a8%7d%40en">Hauke Engel</a></strong> is a partner in the Frankfurt office. <strong><a href="/our-people/brodie-boland">Brodie Boland</a></strong> is an associate partner in the Washington office. <strong>Peter Cooper</strong> is a consultant in the London office.</div></div></div></section><section class="mdc-u-grid mdc-u-grid-col-md-12 mck-u-screen-only"><div class="mdc-u-grid-col-md-start-2 mdc-u-grid-col-md-end-12 mdc-u-grid-col-lg-start-5 mdc-u-grid-col-lg-end-9"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_8032924 mdc-c-heading--title___5qyOB_8032924 mdc-c-heading--border___K8dj3_8032924 mdc-u-align-center">Explore a career with us</h5><div data-component="mdc-c-link-container" class="mdc-c-link-container___xefGu_8032924 mdc-c-link-container--align-center___ar3mu_8032924"><a data-component="mdc-c-link" href="/careers/search-jobs" class="mdc-c-button___U4iY2_8032924 mdc-c-button--secondary___Boipq_8032924 mdc-c-button--size-large___jwpUy_8032924" aria-label="Search Openings" data-layer-event-prefix="CTA Link" data-layer-action="click" data-layer-category="careers" data-layer-subcategory="search" data-layer-text="Search Openings"><span class="mdc-c-link__label___Pfqtd_8032924">Search Openings</span></a></div></div></section></div></main></div><div data-component="mdc-c-module-wrapper" data-module-theme="light" data-module-background="lightest-grey" data-module-category="StandalonePromo" class="RelatedArticle_mck-c-article-related__GGA76 mck-u-screen-only" data-layer-region="related-articles"><div class="mdc-o-container__wrapper is-wrapped mdc-u-spaced-mobile"><h5 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_8032924 mdc-c-heading--title___5qyOB_8032924 mdc-u-align-center">Related Articles</h5><div class="mdc-u-grid mdc-u-grid-col-md-3 RelatedArticle_items-container__s2uD0"><div class="mdc-u-grid mdc-u-grid-gutter-lg Card_card__diA2r Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts" class="mdc-c-link___lBbY1_8032924"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-clima-0 { aspect-ratio: 16/9 }</style><img alt="Climate risk and response: Physical hazards and socioeconomic impacts" class="picture-uniqueKey-clima-0" src="/~/media/mckinsey/business%20functions/sustainability/our%20insights/climate%20risk%20and%20response%20physical%20hazards%20and%20socioeconomic%20impacts/climate-risk-standard-1536x1536.jpg?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_8032924 Card_content-block__pF6Z1"><span>Report - <i>MGI Research</i></span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_8032924 mdc-u-ts-6"><a data-component="mdc-c-link" href="/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts" class="mdc-c-link-heading___Zggl8_8032924 mdc-c-link___lBbY1_8032924"><div>Climate risk and response: Physical hazards and socioeconomic impacts</div></a></h6></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-lg Card_card__diA2r Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/capabilities/sustainability/our-insights/earth-to-ceo-your-company-is-already-at-risk-from-climate-change" class="mdc-c-link___lBbY1_8032924"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-earth-0 { aspect-ratio: 16/9 }</style><img alt="Earth to CEO: Your company is already at risk from climate change" class="picture-uniqueKey-earth-0" src="/~/media/mckinsey/business%20functions/sustainability/our%20insights/earth%20to%20ceo%20your%20company%20is%20already%20at%20risk%20from%20climate%20change/earth-to-ceo-standard-1536x1536.jpg?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_8032924 Card_content-block__pF6Z1"><span>Commentary</span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_8032924 mdc-u-ts-6"><a data-component="mdc-c-link" href="/capabilities/sustainability/our-insights/earth-to-ceo-your-company-is-already-at-risk-from-climate-change" class="mdc-c-link-heading___Zggl8_8032924 mdc-c-link___lBbY1_8032924"><div>Earth to CEO: Your company is already at risk from climate change</div></a></h6></div></div></div><div class="mdc-u-grid mdc-u-grid-gutter-lg Card_card__diA2r Card_hover-effect__RGb9b"><div class="Card_wrapper-image__8b4P6"><a data-component="mdc-c-link" href="/featured-insights/future-of-work/thomas-l-friedman-the-three-climate-changes" class="mdc-c-link___lBbY1_8032924"><picture data-component="mdc-c-picture" class="Card_wrapper-image__8b4P6"><style>.picture-uniqueKey-thoma-0 { aspect-ratio: 16/9 }</style><img alt="Thomas L. Friedman: The three climate changes" class="picture-uniqueKey-thoma-0" src="/~/media/mckinsey/featured%20insights/future%20of%20organizations/thomas%20l%20friedman%20the%20three%20climate%20changes/thomas-friedman-climate-changes.jpg?cq=50&mw=767&car=16:9&cpy=Center" loading="lazy"/></picture></a></div><div class="Card_wrapper-text__U6Y3k"><div data-component="mdc-c-content-block" class="mdc-c-content-block___7p6Lu_8032924 Card_content-block__pF6Z1"><span>Video - <i>MGI Research</i></span><h6 data-component="mdc-c-heading" class="mdc-c-heading___0fM1W_8032924 mdc-u-ts-6"><a data-component="mdc-c-link" href="/featured-insights/future-of-work/thomas-l-friedman-the-three-climate-changes" class="mdc-c-link-heading___Zggl8_8032924 mdc-c-link___lBbY1_8032924"><div>Thomas L. Friedman: The three climate changes</div></a></h6></div></div></div></div></div></div></div></main></div><script id="__NEXT_DATA__" type="application/json">{"props":{"pageProps":{"locale":"en","dictionary":{},"sitecoreContext":{"route":{"name":"Can coastal cities turn the tide on rising flood risk","displayName":"Can coastal cities turn the tide on rising flood risk","fields":null,"databaseName":"web","deviceId":"fe5d7fdf-89c0-4d99-9aa3-b5fbd009c9f3","itemId":"2f953dab-8f7c-4b25-98f4-9f55a6422e85","itemLanguage":"en","itemVersion":3,"layoutId":"ae753eb4-a035-40b4-83bf-4b4438df6742","templateId":"683910db-02ba-40ba-92e7-726c880160a9","templateName":"ArticleJSS","placeholders":{"jss-main":[{"uid":"232bb7e9-289f-492d-a916-2b6185e44a84","componentName":"ArticleTemplate","dataSource":"","fields":{"data":{"articleTemplate":{"title":{"jsonValue":{"value":"Can coastal cities turn the tide on rising flood risk?"}},"sEOTitle":{"value":"Can coastal cities turn the tide on climate change flooding risk?"},"description":{"jsonValue":{"value":"Coastal cities are on the front line of flooding. Two very different cities, Ho Chi Minh City and Bristol, help illustrate variations in risks and approaches to adaptation."}},"sEODescription":{"value":"Climate change means flooding is becoming more frequent in coastal cities. Here's what we can learn from Ho Chi Minh City and Bristol, UK"},"displayDate":{"jsonValue":{"value":"2020-04-20T00:00:00Z"}},"body":{"value":"[[DownloadsSidebar]]\n\u003cp\u003e\u003cstrong\u003eClimate change is increasing\u003c/strong\u003e the destructive power of flooding from extreme rain and rising seas and rivers. Many cities around the world are exposed. Strong winds during storms and hurricanes can drive coastal flooding through storm surge. As hurricanes and storms become more severe, surge height increases. Changing hurricane paths may shift risk to new areas. Sea-level rise amplifies storm surge and brings in additional chronic threats of tidal flooding. Pluvial and riverine flooding becomes more severe with increases in heavy precipitation. Floods of different types can combine to create more severe events known as compound flooding. \u003ca rel=\"noopener noreferrer\" rel=\"noopener noreferrer\" href=\"https://iopscience.iop.org/article/10.1088/1748-9326/aab792\" target=\"_blank\"\u003eWith warming of 1.5 degrees Celsius\u003c/a\u003e, 11 percent of the global land area is projected to experience a significant increase in flooding, while warming of 2.0 degrees almost doubles the area at risk.\u003c/p\u003e\n\u003cp\u003eWhen cities flood, in addition to often devastating human costs, real estate is destroyed, infrastructure systems fail, and entire populations can be left without critical services such as power, transportation, and communications. In this case study we simulate floods at the most granular level (up to two-by-two-meter resolution) and explore how flood risk may evolve for \u003ca href=\"#HCMC\"\u003eHo Chi Minh City\u003c/a\u003e (HCMC) and \u003ca href=\"#Bristol\"\u003eBristol\u003c/a\u003e (See sidebar, \u0026ldquo;An overview of the case study analysis\u0026rdquo;). Our aim is to illustrate the changing extent of flooding, the landscape of human exposure, and the magnitude of societal and economic impacts. \u003c/p\u003e\n[[Sidebar 1]]\n\u003cp\u003eWe chose these cities for the contrasting perspectives they offer: Ho Chi Minh City in an emerging economy, Bristol in a mature economy; Ho Chi Minh City in a regular flood area, Bristol in an area developing a significant flood risk for the first time in a generation. \u003c/p\u003e\n\u003cp\u003eWe find the metropolis of Ho Chi Minh City can survive its flood risk today, but its plans for rapid \u003ca href=\"/capabilities/operations/our-insights/bridging-infrastructure-gaps-has-the-world-made-progress\"\u003einfrastructure\u003c/a\u003e\u0026nbsp;expansion and continued economic growth could be incompatible with an increase in risk. The city has a wide range of adaptation options at its disposal but no silver bullet. \u003c/p\u003e\n\u003cp\u003eIn the much smaller city of Bristol, we find a risk of flood damages growing from the millions to the billions, driven by high levels of exposure. The city has fewer adaptation options at its disposal, and its biggest challenge may be building political and financial support for change. \u003c/p\u003e\n\u003ca id=\"HCMC\"\u003e\u003c/a\u003e\n\u003ch2\u003eHow significant are the flood risks facing Ho Chi Minh City and what can the city do?\u003c/h2\u003e\n[[Video HCMC]]\n\u003cp\u003eFlooding is a common part of life in Ho Chi Minh City. \u003ca rel=\"noopener noreferrer\" rel=\"noopener noreferrer\" href=\"https://www.researchgate.net/publication/283378874_Improvement_of_flood_risk_assessment_under_climate_change_in_Ho_Chi_Minh_City_with_GIS_applications\" target=\"_blank\"\u003eThis includes flooding from\u003c/a\u003e monsoonal rains, which account for about 90 percent of annual rainfall, tidal floods and storm surge from typhoons and other weather events. Of the city\u0026rsquo;s 322 communes and wards, \u003ca rel=\"noopener noreferrer\" rel=\"noopener noreferrer\" href=\"http://www.icem.com.au/documents/climatechange/hcmc_cc/hcmc_ccdraftreport_vol2_main_report.pdf\" target=\"_blank\"\u003eabout half have a history of regular flooding\u003c/a\u003e with 40 to 45 percent of land in the city less than one meter above sea level. \u003c/p\u003e\n[[Ceros climate]]\n\u003cp\u003eIn our analysis, we quantify the possible impact on the city as floods hit real estate and infrastructure assets.[[footnote 1]] We simulate possible 1 percent probability flooding scenarios for the city for three periods: today, 2050, and a longer-term scenario of 180 centimeters of sea-level rise, which some infrastructure assets built by 2050 may experience as a worse-case in their lifetime (Exhibit 1). \u003c/p\u003e\n[[Exhibit 1]]\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003e\u003cem\u003eToday:\u003c/em\u003e\u003c/strong\u003e We estimate that 23 percent of the city could flood, and a range of existing assets would be taken offline; infrastructure damage may total $200 million to $300 million. Knock-on effects would be significant, and we estimate could total a further $100 million to $400 million. Real estate damage may total $1.5 billion.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003e\u003cem\u003e2050:\u003c/em\u003e\u003c/strong\u003e A flood with the same probability in 30 years\u0026rsquo; time would likely do three times the physical damage and deliver 20 times the knock-on effects. We estimate that 36 percent of the city becomes flooded. In addition, many of the 200 new infrastructure assets are planned to be built in flooded areas. As a result, the damage bill would grow, totaling $500 million to $1 billion. Increased economic reliance on assets would amplify knock-on effects, leading to an estimated $1.5 billion to $8.5 billion in losses. An additional $8.5 billion in real estate damages could occur. \u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003e\u003cem\u003eA 180 centimeters sea-level rise scenario:\u003c/em\u003e\u003c/strong\u003e A 1 percent probability flood in this scenario may bring three times the extent of flood area. About 66 percent of the city would be underwater, driven by a large western area that suddenly pass an elevation threshold. Under this scenario, damage is critical and widespread, totaling an estimated $3.8 billion to $7.3 billion. Much of the city\u0026rsquo;s functionality may be shut down, with knock-on effects costing $6.4 billion to $45.1 billion. Real estate damage could total $18 billion. \u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eWhile \u0026ldquo;tail\u0026rdquo; events may suddenly break systems and cause extraordinary impact, extreme floods will be infrequent. Intensifying chronic events are more likely to have a greater effect on the economy, with a mounting annual burden over time. We estimate that intensifying regular floods may rise from about 2 percent today to about 3 percent of Ho Chi Minh City\u0026rsquo;s GDP annually by 2050 (Exhibit 2). \u003c/p\u003e\n[[Exhibit 2]]\n\u003cp\u003eHo Chi Minh City has time to adapt, and the city has many options to avert impacts because it is relatively early in its development journey. As less than half of the city\u0026rsquo;s major infrastructure needed for 2050 exists today, many of the potential adaptation options could be highly effective. We outline three key steps: \u003c/p\u003e\n\u003col\u003e\n \u003cli\u003eBetter planning to reduce exposure and risk\u003c/li\u003e\n \u003cli\u003eInvesting in adaptation through hardening and resilience\u003c/li\u003e\n \u003cli\u003eFinancial mobilization to mitigate impacts on lower-income populations\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u003cem\u003eFor additional details on these actions, download the case study,\u003c/em\u003e \u003ca href=\"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/mgi-can-coastal-cities-turn-the-tide-on-rising-flood-risk.pdf\"\u003eCan coastal cities turn the tide on rising flood risk?\u003c/a\u003e (PDF\u0026ndash;4MB).\u003c/p\u003e\n\u003ca id=\"Bristol\"\u003e\u003c/a\u003e\n\u003ch2\u003eCould Bristol\u0026rsquo;s flood risk grow from a problem to a crisis by 2065?\u003c/h2\u003e\n[[Video Bristol]]\n\u003cp\u003eBristol is facing a new flood risk. The river Avon, which runs through the city, has the second largest tidal range in the world, yet it has not caused a major flood since 1968, when sea levels were lower, and the city was smaller and less developed. During very high tides, the Avon becomes \u0026ldquo;tide locked\u0026rdquo; and limits/restricts land drainage in the lower reaches of river catchment area. As a result, \u003ca rel=\"noopener noreferrer\" rel=\"noopener noreferrer\" href=\"https://advances.sciencemag.org/content/5/9/eaaw5531\" target=\"_blank\"\u003ethe city is vulnerable\u003c/a\u003e to combined tidal and pluvial floods, which are sensitive to both sea-level rise and precipitation increase. Both are expected to climb with \u003ca href=\"/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts\"\u003eclimate change\u003c/a\u003e. While Bristol is generally hilly and most of the urban area is far from the river, the most economically valuable areas of the city center and port regions are on comparatively low-lying land.\u003c/p\u003e\n\u003cp\u003eWith the city\u0026rsquo;s support, we have modeled the socioeconomic impacts of 200-year (0.5 percent probability) combined tidal and fluvial flood risk, for today and for 2065. This considers the flood defenses in existence today; some of these were built after the 1968 flood, and many assumed a static climate would exist for their lifetime (Exhibit 3). \u003c/p\u003e\n[[Exhibit 3]]\n\u003cp\u003eWe find:\u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003e\u003cstrong\u003e\u003cem\u003eToday:\u003c/em\u003e\u003c/strong\u003e The consequences of a major flood today in Bristol would be small but are still material. We find that the flood area would be relatively minor, with small overflows on the edges of the port area and isolated floods in the center of the city. Our model estimates that damage to the city\u0026rsquo;s infrastructure could amount to $10 million to $25 million, real estate damage to $15 million to $20 million, and knock-on effects of $20 million to $150 million.\u003c/li\u003e\n \u003cli\u003e\u003cstrong\u003e\u003cem\u003e2065:\u003c/em\u003e\u003c/strong\u003e In contrast, by 2065, an extreme flood event could be devastating. Water would exceed the city\u0026rsquo;s flood defenses at multiple locations, hitting some of its most expensive real estate, damaging arterial transportation infrastructure, and destroying sensitive critical energy assets. Our model estimates that damages to the city\u0026rsquo;s infrastructure could amount to between $180 million and $390 million. It may also cause $160 million to $240 million of property damage. Overall, considering economic growth, knock-on effects could total $500 million to $2.8 billion, and disruptions could last weeks or months (Exhibit 4). \u003c/li\u003e\n\u003c/ul\u003e\n[[Exhibit 4]]\n\u003cp\u003eUnlike many small and medium-size cities, Bristol has invested in understanding this risk. It has undertaken a detailed review of how the scale of flooding in the city will change in the future under different climate scenarios. This improved understanding of the risks is an example that other cities could learn from.\u003c/p\u003e\n\u003cp\u003eHowever, adaptation is unlikely to be straightforward. It is difficult to imagine Bristol\u0026rsquo;s infrastructure assets being in a position more exposed to the city\u0026rsquo;s flood risk. Yet the center of the city, formed in the 1400s, cannot be shifted overnight, nor would its leafy reputation be the same today if the city had not oriented the growth of the past 20 years to harness its existing Edwardian and Victorian architecture. Unlike in Ho Chi Minh City, most of the infrastructure the city plans to have in place in 2065 has already been built. \u003c/p\u003e\n\u003cp\u003eIn the immediate future, Bristol\u0026rsquo;s hands are likely largely tied, and hard adaptation may be the most viable short-term solution. In the medium term, however, Bristol may be able to act to improve resilience through measures such as investing in sustainable urban drainage that may reduce the depth and duration of an extreme flood event. \u003c/p\u003e\n\u003cp\u003e\u003ca rel=\"noopener noreferrer\" rel=\"noopener noreferrer\" href=\"https://www.bbc.com/news/uk-england-bristol-47525879\" target=\"_blank\"\u003eBristol is already taking a proactive approach\u003c/a\u003e to adaptation. A $130 million floodwall for the defense of Avonmouth was planned to begin in late 2019. The city is still scoping out a range of options to protect the city. As an outside-in estimate, based on scaling costs to build the Thames Barrier in 1982, plus additional localized measures that might be needed, protecting the city to 2065 may cost $250 million to $500 million (roughly 0.5 to 1.5 percent of Bristol\u0026rsquo;s GVA today compared to the possible flood impact we calculate of between 2 to 9 percent of the city\u0026rsquo;s GVA in 2065). However, the actual costs will largely depend on the final approach.\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eBristol has gotten ahead of the game by improving its own understanding of risk. Many other small cities are at risk of entering unawares into a new climatic band for which they and their urban areas are ill prepared. While global flood risk is concentrated in major coastal metropolises, a long tail of other cities may be equally exposed, less prepared, and less likely to bounce back. \u003c/p\u003e\n\u003cp\u003e\u003cem\u003eFor additional details, download the case study,\u003c/em\u003e \u003ca href=\"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/mgi-can-coastal-cities-turn-the-tide-on-rising-flood-risk.pdf\"\u003eCan coastal cities turn the tide on rising flood risk?\u003c/a\u003e (PDF\u0026ndash;4MB). \u003c/p\u003e\n\u003chr /\u003e\n\u003cp\u003e\u003cstrong\u003eAbout this case study:\u003c/strong\u003e \u003c/p\u003e\n\u003cp\u003eIn January 2020, the McKinsey Global Institute published \u003cem\u003e\u003ca href=\"/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts\"\u003eClimate risk and response: Physical hazards and socioeconomic impacts\u003c/a\u003e.\u003c/em\u003e In that report, we measured the impact of climate change by the extent to which it could affect human beings, human-made physical assets, and the natural world over the next three decades. In order to link physical climate risk to socioeconomic impact, we investigated nine specific cases that illustrated exposure to climate change extremes and proximity to physical thresholds. \u003c/p\u003e"},"isFullScreenInteractive":{"boolValue":false},"hideStickySocialShareBar":{"boolValue":false},"desktopID":{"value":""},"mobileID":{"value":""},"desktopURL":{"value":""},"mobileURL":{"value":""},"desktopPaddingPercentage":{"value":""},"mobilePaddingPercentage":{"value":""},"desktopOverrideHeight":{"value":""},"mobileOverrideHeight":{"value":""},"cerosOembedURL":{"value":""},"cerosRenderMode":{"targetItem":null},"cerosBackgroundColor":{"targetItem":null},"hideByLine":{"boolValue":false},"tableOfContentsTitle":{"value":"TABLE OF CONTENTS"},"accessStatus":{"targetItem":{"key":{"value":"AllUsers"},"value":{"value":"All Users"}}},"articleType":{"targetItem":{"displayName":"Article"}},"hasSpecialReport":{"boolValue":false},"contentType":{"targetItem":{"displayName":"Article"}},"sourcePublication":{"targetItem":{"name":"MGI Research","displayName":"MGI Research","title":{"value":"MGI Research"},"relatedlinks":{"url":"/mgi/overview"},"landinglinks":{"jsonValue":{"value":[]}}}},"externalPublication":{"value":""},"excludeFromClientLink":{"boolValue":false},"originalPublishDate":{"jsonValue":{"value":"2020-04-20T20:43:00Z"}},"footnotes":{"value":"\u003col\u003e\n\u003cli\u003eFlood modeling and expert guidance were provided by an academic consortium of Institute for Environmental Studies, Vrije Universiteit Amsterdam, and Center of Water Management and Climate Change, Vietnam National University. Infrastructure assets covered include both those currently available and those under construction, planned, or speculated. Knock-on effects are adjusted for estimates of economic and population growth.\u003c/li\u003e\n\u003c/ol\u003e"},"contributoryPractice":{"targetItems":[{"displayName":"McKinsey Sustainability"}]},"aboutTheAuthors":{"value":"\u003cstrong\u003e\u003ca href=\"/sitecore/service/notfound.aspx?item=web%3a%7b8d840caa-6a65-4626-8ce5-1f9fefe604dd%7d%40en\"\u003eLola Woetzel\u003c/a\u003e\u003c/strong\u003e is a director of the McKinsey Global Institute, where \u003cstrong\u003e\u003ca href=\"/our-people/mekala-krishnan\"\u003eMekala Krishnan\u003c/a\u003e\u003c/strong\u003e is a senior fellow. \u003cstrong\u003eDickon Pinner\u003c/strong\u003e is a senior partner in McKinsey\u0026rsquo;s San Francisco office. \u003cstrong\u003e\u003ca href=\"/sitecore/service/notfound.aspx?item=web%3a%7bfd4428d4-5bb2-466c-aea7-4305b520d6d0%7d%40en\"\u003eHamid Samandari\u003c/a\u003e\u003c/strong\u003e is a senior partner in the New York office. \u003cstrong\u003e\u003ca href=\"/sitecore/service/notfound.aspx?item=web%3a%7b9a8faf3f-fd54-4f70-b55b-f6901aad74a8%7d%40en\"\u003eHauke Engel\u003c/a\u003e\u003c/strong\u003e is a partner in the Frankfurt office. \u003cstrong\u003e\u003ca href=\"/our-people/brodie-boland\"\u003eBrodie Boland\u003c/a\u003e\u003c/strong\u003e is an associate partner in the Washington office. \u003cstrong\u003ePeter Cooper\u003c/strong\u003e is a consultant in the London office."},"authors":{"targetItems":[{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"548F5B4C050F45D0B61B709203DA7E52","name":"Lola Woetzel","authorTitle":{"value":"Lola Woetzel"},"description":{"value":""},"thumbnailImage":{"alt":"Lola Woetzel","src":"/~/media/mckinsey/our people/lola woetzel/lola woetzel_headshot_988x741.jpg"},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"22372BA697E049959E1D9EB93B36AA1E","name":"Dickon Pinner","authorTitle":{"value":"Dickon Pinner"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"16008486AD414D74B4139371C7B203A8","name":"Hamid Samandari","authorTitle":{"value":"Hamid Samandari"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"E8BDB344313D40629D5C37C7197A6D61","name":"Hauke Engel","authorTitle":{"value":"Hauke Engel"},"description":{"value":"Partner in McKinsey's Sustainability Practice. Leads work on climate change globally and supports businesses across sectors with challenges involving strategy and sustainability"},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"202E8298372A43CD9AD30A760F5FB2A5","name":"Mekala Krishnan","authorTitle":{"value":"Mekala Krishnan"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[{"standardImage":{"src":"/~/media/mckinsey/our people/mekala krishnan/mekala-krishnan-profile_1536x1152.jpg","alt":"Mekala Krishnan"},"emailLinks":{"value":" Mekala_Krishnan@mckinsey.com"},"linkedInUrl":{"value":"https://www.linkedin.com/in/mekala-krishnan-1571a342/"},"description":{"value":"Leads the McKinsey Global Institute’s research on topics related to sustainable and inclusive growth, including climate risk and the net-zero transition, globalization, productivity growth, and gender economics"},"locations":{"targetItems":[{"name":"Boston","displayName":"Boston"}]},"firmTitle":{"value":"McKinsey Global Institute Partner"},"thumbnailImage":{"alt":"Mekala Krishnan","src":"/~/media/mckinsey/our people/mekala krishnan/mekala-krishnan-headshot_988x741.jpg"},"url":{"path":"/our-people/mekala-krishnan"}}]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"512D53F2E3DD44CB96CE30D963822056","name":"Brodie Boland","authorTitle":{"value":"Brodie Boland"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[{"standardImage":{"src":"/~/media/mckinsey/our people/brodie boland/brodie boland_fc-mask_profile_1536x1152.png","alt":"Brodie Boland"},"emailLinks":{"value":"Brodie_Boland@McKinsey.com"},"linkedInUrl":{"value":""},"description":{"value":"Helps leading real-estate organizations, infrastructure investors, and city governments prepare for the future, including by identifying and mitigating the risks from climate change"},"locations":{"targetItems":[{"name":"Washington DC","displayName":"Washington DC"}]},"firmTitle":{"value":"Partner"},"thumbnailImage":{"alt":"Brodie Boland","src":"/~/media/mckinsey/our people/brodie boland/brodie boland_fc-mask_headshot_988x741.png"},"url":{"path":"/our-people/brodie-boland"}}]}},{"template":{"id":"3FBABDB63A094F68B1F8E1BBE1BA124E","name":"Author"},"id":"739445F920E74E678B7D076EA9131C9A","name":"Peter Cooper","authorTitle":{"value":"Peter Cooper"},"description":{"value":""},"thumbnailImage":{"alt":"","src":null},"profile":{"targetItems":[]}}]},"nonPartnerAuthors":{"targetItems":[]},"interactiveToUse":{"targetItem":null},"enableArticleComponents":{"boolValue":false},"relatedArticles":{"targetItems":[{"sourcePublication":{"targetItem":{"name":"MGI Research"}},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"Climate risk and response: Physical hazards and socioeconomic impacts"},"url":{"path":"/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts"},"eyebrow":{"targetItem":{"name":"Report"}},"articleType":{"targetItem":{"name":"Report"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"How could Earth’s changing climate impact socioeconomic systems across the world in the next three decades? A yearlong, cross-disciplinary research effort at McKinsey \u0026amp; Company provides some answers."},"standardImage":{"src":"/~/media/mckinsey/business functions/sustainability/our insights/climate risk and response physical hazards and socioeconomic impacts/climate-risk-standard-1536x1536.jpg","alt":"Climate risk and response: Physical hazards and socioeconomic impacts"},"heroImage":null,"thumbnailImage":null},{"sourcePublication":{"targetItem":null},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"Earth to CEO: Your company is already at risk from climate change"},"url":{"path":"/capabilities/sustainability/our-insights/earth-to-ceo-your-company-is-already-at-risk-from-climate-change"},"eyebrow":{"targetItem":{"name":"Commentary"}},"articleType":{"targetItem":{"name":"Commentary"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"The next decade is decisive. Acting now to prepare your enterprise for climate change will pay off."},"standardImage":{"src":"/~/media/mckinsey/business functions/sustainability/our insights/earth to ceo your company is already at risk from climate change/earth-to-ceo-standard-1536x1536.jpg","alt":"Earth to CEO: Your company is already at risk from climate change"},"heroImage":null,"thumbnailImage":null},{"sourcePublication":{"targetItem":{"name":"MGI Research"}},"publicationSource":null,"externalPublication":{"value":""},"title":{"value":"Thomas L. Friedman: The three climate changes"},"url":{"path":"/featured-insights/future-of-work/thomas-l-friedman-the-three-climate-changes"},"eyebrow":{"targetItem":{"name":"Video"}},"articleType":{"targetItem":{"name":"Video"}},"contentType":{"targetItem":{"name":"Article"}},"description":{"value":"The \u003cem\u003eNew York Times\u003c/em\u003e foreign affairs columnist tells James Manyika why he thinks the environment, globalization, and technology are transforming our world."},"standardImage":{"src":"/~/media/mckinsey/featured insights/future of organizations/thomas l friedman the three climate changes/thomas-friedman-climate-changes.jpg","alt":"Thomas L. Friedman: The three climate changes"},"heroImage":null,"thumbnailImage":null}]},"useEnhancedAuthors":{"boolValue":false},"acknowledgements":{"value":""},"showSocialShareFooter":{"boolValue":false},"template":{"id":"683910db-02ba-40ba-92e7-726c880160a9"},"hideFromSearchEngines":{"boolValue":false},"backgroundColor":{"targetItem":{"key":{"value":"Deep Gradient"},"value":{"value":"deep-gradient"}}},"gradientDirection":{"targetItem":{"key":{"value":"Bottom Right"},"value":{"value":"bottom-right"}}},"hideStickySubscriptionBar":{"value":false},"enableRegWall":{"boolValue":false},"timer":{"value":"8"},"regWallHeading":{"value":""},"showGoToHomeLink":{"boolValue":false},"regWallDescription":{"value":""},"isInsightsStorePage":{"boolValue":false},"enableRatingsForArticleBody":{"boolValue":true},"enableRatingsForMostPopular":{"boolValue":true},"showAskMcKinseyChatbot":{"boolValue":false},"selectedModalSubscriptions":{"targetItems":[]},"link1":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"link2":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"link3":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"link4":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"link5":{"queryString":"","className":"","anchor":"","linkType":"internal","url":"","text":"","targetItem":null},"fullReportPDF":{"name":"Full Report PDF","src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/mgi-can-coastal-cities-turn-the-tide-on-rising-flood-risk.pdf","displayName":"MGI-Can-coastal-cities-turn-the-tide-on-rising-flood-risk","title":"Can coastal cities turn the tide on rising flood risk?","keywords":"","description":"","extension":"pdf","mimeType":"application/pdf","size":4204372,"pageCount":"","thumbnailImageSrc":""},"fullReportPDFDisplayName":{"value":""},"appendixPDF":{"name":"Appendix PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"appendixPDFDisplayName":{"value":""},"articlePDF":{"name":"Article PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"briefingNotePDF":{"name":"Briefing Note PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"discussionPapersPDF":{"name":"Discussion Papers PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"executiveSummaryPDF":{"name":"Executive Summary PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"executiveSummaryPDFDisplayName":{"value":""},"researchPreviewPDF":{"name":"Research Preview PDF","src":null,"displayName":null,"title":null,"keywords":null,"description":null,"extension":null,"mimeType":null,"size":null,"pageCount":null,"thumbnailImageSrc":""},"heroImage":{"src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/coastal-cities-natgeo_2181781-hero-1536x1024.jpg","alt":"People on a motorbike in a flood zone"},"standardImage":{"src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/coastal-cities-natgeo_2181781-standard-1536x1536.jpg","alt":"People on a motorbike in a flood zone"},"heroImageTopOffset":{"value":""},"headerOverlayOpacity":{"targetItem":null},"heroType":{"targetItem":{"displayName":"Full Hero"}},"photoOverlayOpacity":{"targetItem":null},"hideHero":{"boolValue":false},"renderStackedHeroLayoutForMobile":{"boolValue":false},"articleHeroVideoId":{"value":""},"podcastHeroOmnyAudioID":{"value":""},"heroBespokeInteractiveID":{"value":""},"bespokeHeroRenderMode":{"targetItem":null},"audio":{"results":[]},"disruptor1up":{"results":[{"title":{"value":"Climate risk and response"},"description":{"value":"Learn how earth\u0026rsquo;s changing climate could \u003ca href=\"/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts\"\u003eimpact socioeconomic systems\u003c/a\u003e"},"image":{"src":"/~/media/mckinsey/business functions/sustainability/our insights/climate risk and response physical hazards and socioeconomic impacts/climate-risk-standard-1536x1536.jpg","alt":"Climate risk and response: Physical hazards and socioeconomic impacts"},"moreLinks":{"jsonValue":{"value":[]}},"mediaID":{"value":"1"},"template":{"name":"Disruptor 1Up"}},{"mediaID":{"value":"cop"},"title":{"value":"Explore COP29 with McKinsey"},"description":{"value":"Join our series of dynamic virtual events during COP29. Discover new research, practical strategies, and collaborations across sectors to move climate action beyond why to how."},"image":{"src":"/~/media/mckinsey/business functions/sustainability/how we help clients/cop/cop29/cop_29_thumb.jpg","alt":"McKinsey at COP29"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Register","Title":"","Url":"https://mckinsey.cventevents.com/Q2MVE1?rt=RrQJ1iBSfEiqSK7N9VAGCw\u0026RefId=cop"}]}}},{"mediaID":{"value":"attheedge"},"title":{"value":"Subscribe to the \u003cem\u003eAt the Edge\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/at-the-edge/id1612870236"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3SnUcezwM20nKnzqvUl6iF"}]}}},{"mediaID":{"value":"authortalks"},"title":{"value":"Visit \u003cem\u003e\u003ca href=\"/featured-insights/mckinsey-on-books/author-talks\"\u003eAuthor Talks\u003c/a\u003e\u003c/em\u003e to see the full series."},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/author talks/authortalks_1536x1536_v1.png","alt":"Author Talks"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/author-talks"}]}}},{"mediaID":{"value":"COVID"},"title":{"value":"Explore McKinsey’s ongoing coverage of the pandemic"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/business functions/risk/our insights/covid 19 implications for business/implications-briefing-note-4-standard-1536x1536.jpg","alt":"COVID-19: Implications for business"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Read more about the business impact of coronavirus and how organizations can respond","Title":"","Url":"/featured-insights/coronavirus-leading-through-the-crisis"}]}}},{"mediaID":{"value":"CE"},"title":{"value":"Customer experience"},"description":{"value":"More insight into creating competitive advantage by putting customers first and managing their journeys."},"image":{"src":"/~/media/mckinsey/industries/public and social sector/our insights/customer experience/customer-experience_22934010_1536x864.jpg","alt":"Customer experience"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":""}]}}},{"mediaID":{"value":"driversofdisruption"},"title":{"value":"Want to subscribe to \u003ca href=\"/features/mckinsey-center-for-future-mobility/our-insights/drivers-of-disruption\"\u003e\u003cem\u003eDrivers of Disruption\u003c/em\u003e\u003c/a\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/drivers-of-disruption/id1687257324"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5fWXzWmVKacc5I7u9CQsah?si=KQ-wUOSyQlqcnfexExiH9Q\u0026nd=1"}]}}},{"mediaID":{"value":"JOL"},"title":{"value":"The Journey of Leadership"},"description":{"value":"\u003cstrong\u003eHow CEOs Learn to Lead from the Inside Out\u003c/strong\u003e\u003cbr /\u003e\nBy \u003ca href=\"/our-people/dana-maor\"\u003eDana Maor\u003c/a\u003e, \u003ca href=\"https://www.linkedin.com/in/hanswernerkaas\"\u003eHans-Werner Kaas\u003c/a\u003e, \u003ca href=\"/our-people/kurt-strovink\"\u003eKurt Strovink\u003c/a\u003e, and \u003ca href=\"/our-people/ramesh-srinivasan\"\u003eRamesh Srinivasan\u003c/a\u003e"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/journey of leadership/journey-of-leadership-book-cover-1536x1536.jpg","alt":"The Journey of Leadership book cover"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/journey-of-leadership"}]}}},{"mediaID":{"value":"surveys"},"title":{"value":"McKinsey\u0026rsquo;s original survey research"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey global surveys/mck-global-survey-landing-1284442931-thumb-1536x1536.jpg","alt":"McKinsey Global Surveys"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Read more","Title":"","Url":"/featured-insights/mckinsey-global-surveys"}]}}},{"mediaID":{"value":"healthcarepodcast"},"title":{"value":"Want to subscribe to \u003cem\u003eMcKinsey on Healthcare\u003c/em\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-healthcare/id1469979748"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3y1AgAilV4E5Jz0x4wD9O2?si=mLCTUQ2ORTS_LC5gW_htlA\u0026dl_branch=1"}]}}},{"mediaID":{"value":"myleadershipjourney"},"title":{"value":"My Leadership Journey"},"description":{"value":"A series of conversations with leaders about the people and experiences that shaped them"},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/our insights/my leadership journey/my leadership journey collection page_131575496_thumb_1536x1536.jpg","alt":"My Leadership Journey"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/my-leadership-journey"}]}}},{"mediaID":{"value":"lessonsfromleaders"},"title":{"value":"State of Organizations: Lessons from leaders"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/our insights/state of org lessons from leaders/soo-chapter-2-872507320-standard-1536x1536.jpg","alt":"\"\""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore more interviews","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/lessons-from-leaders"}]}}},{"mediaID":{"value":"stateoforg"},"title":{"value":"The State of Organizations 2023"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Report overview","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/the-state-of-organizations-2023"}]}}},{"mediaID":{"value":"titaniumeconomy"},"title":{"value":"The Titanium Economy"},"description":{"value":"How Industrial Technology Can Create a Better, Faster, Stronger America\u003cbr /\u003e\nBy \u003ca href=\"/our-people/asutosh-padhi\"\u003eAsutosh Padhi\u003c/a\u003e, Gaurav Batra, and \u003ca href=\"https://fernweh.com/nick-santhanam/\"\u003eNick Santhanam\u003c/a\u003e"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/the titanium economy/titanium_3d-1536x1536-hero-trans.png","alt":"The Titanium Economy Book cover"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/the-titanium-economy"}]}}},{"mediaID":{"value":"GII"},"title":{"value":"Global Infrastructure Initiative"},"description":{"value":"Convening global leaders in infrastructure and capital projects in pursuit of new solutions"},"image":{"src":"/~/media/mckinsey/business functions/operations/our insights/the global infrastructure initiative/jpg-cpi-improving-construction-productivity-1536x864.jpg","alt":"Improving construction productivity"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Learn more","Title":"","Url":"http://www.globalinfrastructureinitiative.com/"}]}}},{"mediaID":{"value":"FOApodcast"},"title":{"value":"Subscribe to \u003ca href=\"/featured-insights/future-of-asia/future-of-asia-podcasts\"\u003e\u003cem\u003eFuture of Asia Podcasts\u003c/em\u003e\u003c/a\u003e"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/future-of-asia/id1480316959"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/2CZX4AR2DT4hQCFKJG0cCv?si=B20tkrOmQYymuCUhKCQOwA"}]}}},{"mediaID":{"value":"logisticsdisruptors"},"title":{"value":"Logistics Disruptors"},"description":{"value":"Meet the companies shaping how goods will move tomorrow."},"image":{"src":"/~/media/mckinsey/industries/travel logistics and infrastructure/our insights/logistics disruptors/tli-logistics-disruptors-1536x1536.jpeg","alt":"illustration autonomous truck driving off into the future"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/logistics/our-insights/logistics-disruptors"}]}}},{"mediaID":{"value":"mckinseyexplainers"},"title":{"value":"Looking for direct answers to other complex questions?"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey explainers/mckinseyexplainers-flat-thumb-1536x1536.jpg","alt":"Circular, white maze filled with white semicircles."},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore the full McKinsey Explainers series","Title":"","Url":"/featured-insights/mckinsey-explainers"}]}}},{"mediaID":{"value":"livesandlegacies"},"title":{"value":"\u003cem\u003e\u003ca href=\"/featured-insights/mckinsey-on-lives-and-legacies\"\u003eMcKinsey on Lives \u0026amp; Legacies\u003c/a\u003e\u003c/em\u003e"},"description":{"value":"Highlighting the lasting impact of leaders and executives"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey on lives and legacies/lives-and-legacies-landing-page-thumb-1536x1536.jpg","alt":"McKinsey on Lives \u0026 Legacies"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore previous obituaries","Title":"","Url":"/featured-insights/mckinsey-on-lives-and-legacies"}]}}},{"mediaID":{"value":"Strategy"},"title":{"value":"Strategy in a digital age"},"description":{"value":"Our series on developing corporate and business-unit strategies in a digitally disrupted world."},"image":{"src":"/~/media/mckinsey/business functions/mckinsey digital/our insights/strategy in a digital age/digital-strategy_1536x864_flexpromoimage.jpg","alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"View the collection","Title":"","Url":"/featured-insights/strategy-in-a-digital-age"}]}}},{"mediaID":{"value":"great"},"title":{"value":"The great re-make: Manufacturing for modern times"},"description":{"value":"This 21-article compendium gives practical insights for manufacturing leaders looking to keep a step ahead of today\u0026rsquo;s disruptions."},"image":{"src":"/~/media/mckinsey/business functions/operations/our insights/the great remake manufacturing for modern times/jpg-ops-dm-compendium-cover-1536x864.jpg","alt":"The great re-make: Manufacturing for modern times"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"View the collection","Title":"","Url":"/capabilities/operations/our-insights/the-great-re-make-manufacturing-for-modern-times-compendium"}]}}},{"mediaID":{"value":"futureofamerica"},"title":{"value":"Subscribe to the \u003cem\u003eFuture of America\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/future-of-america/id1616517376"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/0FpeyjojJTKf2hVtQ3otah"}]}}},{"mediaID":{"value":"governmentpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Government\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-government/id1573645359"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/61XsO4B2ersroMft8t3KSq"}]}}},{"mediaID":{"value":"podcast"},"title":{"value":"Want to subscribe to the McKinsey Podcast?\n"},"description":{"value":"\u003cdiv class=\"cta-container -align-horizontal\"\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eGoogle Play\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eiTunes\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eStitcher\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn mck-rss-icon\"\u003eRSS\u003c/a\u003e\n\u003c/div\u003e"},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[]}}},{"mediaID":{"value":"operationspodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey Talks Operations\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-talks-operations/id1598128813"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/7LYQS2fxAoBmC3LgFNJbi8"}]}}},{"mediaID":{"value":"energyinsights"},"title":{"value":"Speak to an expert about our upstream capabilities"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/industries/oil and gas/how we help clients/energy insights/newsletter-signup-promo-bar-1536x768.jpg","alt":"EI newsletter sign up"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Contact us","Title":"","Url":"/industries/oil-and-gas/how-we-help-clients/energy-solutions/contact-us"}]}}},{"mediaID":{"value":"buildingproductspodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Building Products\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-building-product/id1735607317"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/79pncGJtBtzz7pFoR6OiH8"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/capabilities/people-and-organizational-performance/how-we-help-clients/mckinsey-academy/product-academy/mckinsey-on-building-product"}]}}},{"mediaID":{"value":"talentpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey Talks Talent\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-talks-talent/id1491112396"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5sW4eHEFMbOvAFJjMfN9a6"}]}}},{"mediaID":{"value":"outlook"},"title":{"value":"A longer, more comprehensive version of our Global Oil Supply \u0026 Demand Outlook is available for purchase upon request.\n"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Contact us","Title":"","Url":"/industries/oil-and-gas/how-we-help-clients/energy-solutions/contact-us"}]}}},{"mediaID":{"value":"talentpodcast2"},"title":{"value":"\u003cem\u003eMcKinsey Talks Talent\u003c/em\u003e Podcast"},"description":{"value":"Bryan Hancock, Brooke Weddle, and other talent experts help you navigate a fast-changing landscape and prepare for the future of work by making talent a competitive advantage."},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/mckinsey talks talent/mck-mtt-disruptor-full-1536x864-smoke-may-2021.jpg","alt":"McKinsey Talks Talent"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"See more episodes","Title":"","Url":"/capabilities/people-and-organizational-performance/mckinsey-talks-talent-podcast"}]}}},{"mediaID":{"value":"investing"},"title":{"value":"Subscribe to McKinsey on Investing"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/private-capital/our-insights/mckinsey-on-investing-issue-1/contact"}]}}},{"mediaID":{"value":"women matter"},"title":{"value":"Subscribe to McKinsey \u003cem\u003eWomen Matter Canada\u003c/em\u003e"},"description":{"value":"Please subscribe if your organization is interested in learning about participating in future research."},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":""}]}}},{"mediaID":{"value":"customs"},"title":{"value":"This article was written as part of a larger research effort to identify opportunities for improvement and innovation at customs agencies globally."},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/public-sector/our-insights/contact"}]}}},{"mediaID":{"value":"tech"},"title":{"value":"\u003cspan class=\"disrupt-ab\"\u003eCreating value beyond the hype\u003c/span\u003e"},"description":{"value":"Let\u0026rsquo;s deliver on the promise of technology from strategy to scale."},"image":{"src":"/~/media/mckinsey/business functions/mckinsey digital/how we help clients/2024/never-just-tech_thumb_1536x1536.jpg","alt":"Never just tech"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Get started","Title":"","Url":"https://www.mckinsey.com/capabilities/mckinsey-digital/how-we-help-clients?cid=njt-ste-crk-mbm-mbm--2403-promo01-njt-bam-web"}]}}},{"mediaID":{"value":"sust"},"title":{"value":"\u003cspan class=\"disrupt-ab\"\u003eMove from plans to progress.\u003c/span\u003e"},"description":{"value":"Sustainability matters. Together we’ll make it real."},"image":{"src":"/~/media/mckinsey/business functions/sustainability/how we help clients/sustainability-campaign_promo-thumb_1536x1536.jpg","alt":"Move from plans to progress."},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Get started","Title":"","Url":"https://www.mckinsey.com/capabilities/sustainability/how-we-help-clients/?cid=susti24-ste-crk-mbm-m01-other-glb-web"}]}}},{"mediaID":{"value":"nwowpodcast"},"title":{"value":"Subscribe to the New World of Work podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/the-new-world-of-work/id1319502839?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3S6fHLW6mcbDJDp1wkArKI"}]}}},{"mediaID":{"value":"globalpodcast"},"title":{"value":"Want to subscribe to \u003cem\u003eThe McKinsey Podcast\u003c/em\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/the-mckinsey-podcast/id285260960?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/4dyjRTP9xzEUPgleo6XjXI"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"YouTube","Title":"","Url":"https://www.youtube.com/@McKinsey/podcasts"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/featured-insights/mckinsey-podcast"}]}}},{"mediaID":{"value":"Qaudio"},"title":{"value":"Discover and subscribe to McKinsey Quarterly Audio"},"description":{"value":"\u003cstrong\u003eFive ways to subscribe:\u003c/strong\u003e"},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/mckinsey-quarterly-audio/id1437925222?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5mb2zYJnrPcRrML8gx5doD"}]}}},{"mediaID":{"value":"shortlist"},"title":{"value":"Subscribe to the Shortlist"},"description":{"value":"McKinsey\u0026rsquo;s new weekly newsletter, featuring must-read content on a range of topics, every Friday"},"image":{"src":"/~/media/mckinsey/email/shortlist/template/shortlist_promo-interrupter-849120982_1536x1536.jpg","alt":"the Shortlist"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Get the Shortlist in your inbox","Title":"","Url":"/user-registration/manage-account/edit-subscriptions"}]}}},{"mediaID":{"value":"retailpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Consumer and Retail\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-consumer-and-retail/id1526250428"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/41D4bro8PPDOGhEgOEJyHB?si=7l3SeYCZQD-7v3toqd9fHQ"}]}}},{"mediaID":{"value":"insurancepodcast"},"title":{"value":"Want to subscribe to the \u003cem\u003eMcKinsey on Insurance\u003c/em\u003e podcast?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-insurance/id1533196359"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5gZ6YKF7n7C9zWaER4mFZ5"}]}}},{"mediaID":{"value":"strategypodcast"},"title":{"value":"Subscribe to the \u003cem\u003eInside the Strategy Room\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/inside-the-strategy-room/id1422814215?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/4TcFfiQ0e6OYuc5kRDLxqj"}]}}},{"mediaID":{"value":"mgipodcast"},"title":{"value":"Subscribe to the \u003cem\u003eForward Thinking\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/forward-thinking/id1319502839"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3S6fHLW6mcbDJDp1wkArKI?si=0zvPmiCsQ7SBAPanfpY4aA\u0026nd=1"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/mgi/forward-thinking"}]}}}]},"globalDisruptors":{"disruptor1up":{"results":[{"mediaID":{"value":"cop"},"title":{"value":"Explore COP29 with McKinsey"},"description":{"value":"Join our series of dynamic virtual events during COP29. Discover new research, practical strategies, and collaborations across sectors to move climate action beyond why to how."},"image":{"src":"/~/media/mckinsey/business functions/sustainability/how we help clients/cop/cop29/cop_29_thumb.jpg","alt":"McKinsey at COP29"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Register","Title":"","Url":"https://mckinsey.cventevents.com/Q2MVE1?rt=RrQJ1iBSfEiqSK7N9VAGCw\u0026RefId=cop"}]}}},{"mediaID":{"value":"attheedge"},"title":{"value":"Subscribe to the \u003cem\u003eAt the Edge\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/at-the-edge/id1612870236"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3SnUcezwM20nKnzqvUl6iF"}]}}},{"mediaID":{"value":"authortalks"},"title":{"value":"Visit \u003cem\u003e\u003ca href=\"/featured-insights/mckinsey-on-books/author-talks\"\u003eAuthor Talks\u003c/a\u003e\u003c/em\u003e to see the full series."},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/author talks/authortalks_1536x1536_v1.png","alt":"Author Talks"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/author-talks"}]}}},{"mediaID":{"value":"COVID"},"title":{"value":"Explore McKinsey’s ongoing coverage of the pandemic"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/business functions/risk/our insights/covid 19 implications for business/implications-briefing-note-4-standard-1536x1536.jpg","alt":"COVID-19: Implications for business"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Read more about the business impact of coronavirus and how organizations can respond","Title":"","Url":"/featured-insights/coronavirus-leading-through-the-crisis"}]}}},{"mediaID":{"value":"CE"},"title":{"value":"Customer experience"},"description":{"value":"More insight into creating competitive advantage by putting customers first and managing their journeys."},"image":{"src":"/~/media/mckinsey/industries/public and social sector/our insights/customer experience/customer-experience_22934010_1536x864.jpg","alt":"Customer experience"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":""}]}}},{"mediaID":{"value":"driversofdisruption"},"title":{"value":"Want to subscribe to \u003ca href=\"/features/mckinsey-center-for-future-mobility/our-insights/drivers-of-disruption\"\u003e\u003cem\u003eDrivers of Disruption\u003c/em\u003e\u003c/a\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/drivers-of-disruption/id1687257324"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5fWXzWmVKacc5I7u9CQsah?si=KQ-wUOSyQlqcnfexExiH9Q\u0026nd=1"}]}}},{"mediaID":{"value":"JOL"},"title":{"value":"The Journey of Leadership"},"description":{"value":"\u003cstrong\u003eHow CEOs Learn to Lead from the Inside Out\u003c/strong\u003e\u003cbr /\u003e\nBy \u003ca href=\"/our-people/dana-maor\"\u003eDana Maor\u003c/a\u003e, \u003ca href=\"https://www.linkedin.com/in/hanswernerkaas\"\u003eHans-Werner Kaas\u003c/a\u003e, \u003ca href=\"/our-people/kurt-strovink\"\u003eKurt Strovink\u003c/a\u003e, and \u003ca href=\"/our-people/ramesh-srinivasan\"\u003eRamesh Srinivasan\u003c/a\u003e"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/journey of leadership/journey-of-leadership-book-cover-1536x1536.jpg","alt":"The Journey of Leadership book cover"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/journey-of-leadership"}]}}},{"mediaID":{"value":"surveys"},"title":{"value":"McKinsey\u0026rsquo;s original survey research"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey global surveys/mck-global-survey-landing-1284442931-thumb-1536x1536.jpg","alt":"McKinsey Global Surveys"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Read more","Title":"","Url":"/featured-insights/mckinsey-global-surveys"}]}}},{"mediaID":{"value":"healthcarepodcast"},"title":{"value":"Want to subscribe to \u003cem\u003eMcKinsey on Healthcare\u003c/em\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-healthcare/id1469979748"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3y1AgAilV4E5Jz0x4wD9O2?si=mLCTUQ2ORTS_LC5gW_htlA\u0026dl_branch=1"}]}}},{"mediaID":{"value":"myleadershipjourney"},"title":{"value":"My Leadership Journey"},"description":{"value":"A series of conversations with leaders about the people and experiences that shaped them"},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/our insights/my leadership journey/my leadership journey collection page_131575496_thumb_1536x1536.jpg","alt":"My Leadership Journey"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/my-leadership-journey"}]}}},{"mediaID":{"value":"lessonsfromleaders"},"title":{"value":"State of Organizations: Lessons from leaders"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/our insights/state of org lessons from leaders/soo-chapter-2-872507320-standard-1536x1536.jpg","alt":"\"\""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore more interviews","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/lessons-from-leaders"}]}}},{"mediaID":{"value":"stateoforg"},"title":{"value":"The State of Organizations 2023"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Report overview","Title":"","Url":"/capabilities/people-and-organizational-performance/our-insights/the-state-of-organizations-2023"}]}}},{"mediaID":{"value":"titaniumeconomy"},"title":{"value":"The Titanium Economy"},"description":{"value":"How Industrial Technology Can Create a Better, Faster, Stronger America\u003cbr /\u003e\nBy \u003ca href=\"/our-people/asutosh-padhi\"\u003eAsutosh Padhi\u003c/a\u003e, Gaurav Batra, and \u003ca href=\"https://fernweh.com/nick-santhanam/\"\u003eNick Santhanam\u003c/a\u003e"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey books/the titanium economy/titanium_3d-1536x1536-hero-trans.png","alt":"The Titanium Economy Book cover"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/featured-insights/mckinsey-on-books/the-titanium-economy"}]}}},{"mediaID":{"value":"GII"},"title":{"value":"Global Infrastructure Initiative"},"description":{"value":"Convening global leaders in infrastructure and capital projects in pursuit of new solutions"},"image":{"src":"/~/media/mckinsey/business functions/operations/our insights/the global infrastructure initiative/jpg-cpi-improving-construction-productivity-1536x864.jpg","alt":"Improving construction productivity"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Learn more","Title":"","Url":"http://www.globalinfrastructureinitiative.com/"}]}}},{"mediaID":{"value":"FOApodcast"},"title":{"value":"Subscribe to \u003ca href=\"/featured-insights/future-of-asia/future-of-asia-podcasts\"\u003e\u003cem\u003eFuture of Asia Podcasts\u003c/em\u003e\u003c/a\u003e"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/future-of-asia/id1480316959"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/2CZX4AR2DT4hQCFKJG0cCv?si=B20tkrOmQYymuCUhKCQOwA"}]}}},{"mediaID":{"value":"logisticsdisruptors"},"title":{"value":"Logistics Disruptors"},"description":{"value":"Meet the companies shaping how goods will move tomorrow."},"image":{"src":"/~/media/mckinsey/industries/travel logistics and infrastructure/our insights/logistics disruptors/tli-logistics-disruptors-1536x1536.jpeg","alt":"illustration autonomous truck driving off into the future"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/logistics/our-insights/logistics-disruptors"}]}}},{"mediaID":{"value":"mckinseyexplainers"},"title":{"value":"Looking for direct answers to other complex questions?"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey explainers/mckinseyexplainers-flat-thumb-1536x1536.jpg","alt":"Circular, white maze filled with white semicircles."},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore the full McKinsey Explainers series","Title":"","Url":"/featured-insights/mckinsey-explainers"}]}}},{"mediaID":{"value":"livesandlegacies"},"title":{"value":"\u003cem\u003e\u003ca href=\"/featured-insights/mckinsey-on-lives-and-legacies\"\u003eMcKinsey on Lives \u0026amp; Legacies\u003c/a\u003e\u003c/em\u003e"},"description":{"value":"Highlighting the lasting impact of leaders and executives"},"image":{"src":"/~/media/mckinsey/featured insights/mckinsey on lives and legacies/lives-and-legacies-landing-page-thumb-1536x1536.jpg","alt":"McKinsey on Lives \u0026 Legacies"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Explore previous obituaries","Title":"","Url":"/featured-insights/mckinsey-on-lives-and-legacies"}]}}},{"mediaID":{"value":"Strategy"},"title":{"value":"Strategy in a digital age"},"description":{"value":"Our series on developing corporate and business-unit strategies in a digitally disrupted world."},"image":{"src":"/~/media/mckinsey/business functions/mckinsey digital/our insights/strategy in a digital age/digital-strategy_1536x864_flexpromoimage.jpg","alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"View the collection","Title":"","Url":"/featured-insights/strategy-in-a-digital-age"}]}}},{"mediaID":{"value":"great"},"title":{"value":"The great re-make: Manufacturing for modern times"},"description":{"value":"This 21-article compendium gives practical insights for manufacturing leaders looking to keep a step ahead of today\u0026rsquo;s disruptions."},"image":{"src":"/~/media/mckinsey/business functions/operations/our insights/the great remake manufacturing for modern times/jpg-ops-dm-compendium-cover-1536x864.jpg","alt":"The great re-make: Manufacturing for modern times"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"View the collection","Title":"","Url":"/capabilities/operations/our-insights/the-great-re-make-manufacturing-for-modern-times-compendium"}]}}},{"mediaID":{"value":"futureofamerica"},"title":{"value":"Subscribe to the \u003cem\u003eFuture of America\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/future-of-america/id1616517376"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/0FpeyjojJTKf2hVtQ3otah"}]}}},{"mediaID":{"value":"governmentpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Government\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-government/id1573645359"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/61XsO4B2ersroMft8t3KSq"}]}}},{"mediaID":{"value":"podcast"},"title":{"value":"Want to subscribe to the McKinsey Podcast?\n"},"description":{"value":"\u003cdiv class=\"cta-container -align-horizontal\"\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eGoogle Play\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eiTunes\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn btn-fill\"\u003eStitcher\u003c/a\u003e\n \u003ca href=\"#\" class=\"btn mck-rss-icon\"\u003eRSS\u003c/a\u003e\n\u003c/div\u003e"},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[]}}},{"mediaID":{"value":"operationspodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey Talks Operations\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-talks-operations/id1598128813"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/7LYQS2fxAoBmC3LgFNJbi8"}]}}},{"mediaID":{"value":"energyinsights"},"title":{"value":"Speak to an expert about our upstream capabilities"},"description":{"value":""},"image":{"src":"/~/media/mckinsey/industries/oil and gas/how we help clients/energy insights/newsletter-signup-promo-bar-1536x768.jpg","alt":"EI newsletter sign up"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Contact us","Title":"","Url":"/industries/oil-and-gas/how-we-help-clients/energy-solutions/contact-us"}]}}},{"mediaID":{"value":"buildingproductspodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Building Products\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-building-product/id1735607317"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/79pncGJtBtzz7pFoR6OiH8"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/capabilities/people-and-organizational-performance/how-we-help-clients/mckinsey-academy/product-academy/mckinsey-on-building-product"}]}}},{"mediaID":{"value":"talentpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey Talks Talent\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-talks-talent/id1491112396"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5sW4eHEFMbOvAFJjMfN9a6"}]}}},{"mediaID":{"value":"outlook"},"title":{"value":"A longer, more comprehensive version of our Global Oil Supply \u0026 Demand Outlook is available for purchase upon request.\n"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Contact us","Title":"","Url":"/industries/oil-and-gas/how-we-help-clients/energy-solutions/contact-us"}]}}},{"mediaID":{"value":"talentpodcast2"},"title":{"value":"\u003cem\u003eMcKinsey Talks Talent\u003c/em\u003e Podcast"},"description":{"value":"Bryan Hancock, Brooke Weddle, and other talent experts help you navigate a fast-changing landscape and prepare for the future of work by making talent a competitive advantage."},"image":{"src":"/~/media/mckinsey/business functions/people and organizational performance/mckinsey talks talent/mck-mtt-disruptor-full-1536x864-smoke-may-2021.jpg","alt":"McKinsey Talks Talent"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"See more episodes","Title":"","Url":"/capabilities/people-and-organizational-performance/mckinsey-talks-talent-podcast"}]}}},{"mediaID":{"value":"investing"},"title":{"value":"Subscribe to McKinsey on Investing"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/private-capital/our-insights/mckinsey-on-investing-issue-1/contact"}]}}},{"mediaID":{"value":"women matter"},"title":{"value":"Subscribe to McKinsey \u003cem\u003eWomen Matter Canada\u003c/em\u003e"},"description":{"value":"Please subscribe if your organization is interested in learning about participating in future research."},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":""}]}}},{"mediaID":{"value":"customs"},"title":{"value":"This article was written as part of a larger research effort to identify opportunities for improvement and innovation at customs agencies globally."},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"internal","Target":"","Text":"Learn more","Title":"","Url":"/industries/public-sector/our-insights/contact"}]}}},{"mediaID":{"value":"tech"},"title":{"value":"\u003cspan class=\"disrupt-ab\"\u003eCreating value beyond the hype\u003c/span\u003e"},"description":{"value":"Let\u0026rsquo;s deliver on the promise of technology from strategy to scale."},"image":{"src":"/~/media/mckinsey/business functions/mckinsey digital/how we help clients/2024/never-just-tech_thumb_1536x1536.jpg","alt":"Never just tech"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Get started","Title":"","Url":"https://www.mckinsey.com/capabilities/mckinsey-digital/how-we-help-clients?cid=njt-ste-crk-mbm-mbm--2403-promo01-njt-bam-web"}]}}},{"mediaID":{"value":"sust"},"title":{"value":"\u003cspan class=\"disrupt-ab\"\u003eMove from plans to progress.\u003c/span\u003e"},"description":{"value":"Sustainability matters. Together we’ll make it real."},"image":{"src":"/~/media/mckinsey/business functions/sustainability/how we help clients/sustainability-campaign_promo-thumb_1536x1536.jpg","alt":"Move from plans to progress."},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"external","Target":"","Text":"Get started","Title":"","Url":"https://www.mckinsey.com/capabilities/sustainability/how-we-help-clients/?cid=susti24-ste-crk-mbm-m01-other-glb-web"}]}}},{"mediaID":{"value":"nwowpodcast"},"title":{"value":"Subscribe to the New World of Work podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/the-new-world-of-work/id1319502839?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3S6fHLW6mcbDJDp1wkArKI"}]}}},{"mediaID":{"value":"globalpodcast"},"title":{"value":"Want to subscribe to \u003cem\u003eThe McKinsey Podcast\u003c/em\u003e?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/the-mckinsey-podcast/id285260960?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/4dyjRTP9xzEUPgleo6XjXI"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"YouTube","Title":"","Url":"https://www.youtube.com/@McKinsey/podcasts"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/featured-insights/mckinsey-podcast"}]}}},{"mediaID":{"value":"Qaudio"},"title":{"value":"Discover and subscribe to McKinsey Quarterly Audio"},"description":{"value":"\u003cstrong\u003eFive ways to subscribe:\u003c/strong\u003e"},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/mckinsey-quarterly-audio/id1437925222?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5mb2zYJnrPcRrML8gx5doD"}]}}},{"mediaID":{"value":"shortlist"},"title":{"value":"Subscribe to the Shortlist"},"description":{"value":"McKinsey\u0026rsquo;s new weekly newsletter, featuring must-read content on a range of topics, every Friday"},"image":{"src":"/~/media/mckinsey/email/shortlist/template/shortlist_promo-interrupter-849120982_1536x1536.jpg","alt":"the Shortlist"},"moreLinks":{"jsonValue":{"value":[{"CssClass":"","LinkType":"internal","Target":"","Text":"Get the Shortlist in your inbox","Title":"","Url":"/user-registration/manage-account/edit-subscriptions"}]}}},{"mediaID":{"value":"retailpodcast"},"title":{"value":"Subscribe to the \u003cem\u003eMcKinsey on Consumer and Retail\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-consumer-and-retail/id1526250428"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/41D4bro8PPDOGhEgOEJyHB?si=7l3SeYCZQD-7v3toqd9fHQ"}]}}},{"mediaID":{"value":"insurancepodcast"},"title":{"value":"Want to subscribe to the \u003cem\u003eMcKinsey on Insurance\u003c/em\u003e podcast?"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/mckinsey-on-insurance/id1533196359"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/5gZ6YKF7n7C9zWaER4mFZ5"}]}}},{"mediaID":{"value":"strategypodcast"},"title":{"value":"Subscribe to the \u003cem\u003eInside the Strategy Room\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://itunes.apple.com/us/podcast/inside-the-strategy-room/id1422814215?mt=2"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/4TcFfiQ0e6OYuc5kRDLxqj"}]}}},{"mediaID":{"value":"mgipodcast"},"title":{"value":"Subscribe to the \u003cem\u003eForward Thinking\u003c/em\u003e podcast"},"description":{"value":""},"image":{"src":null,"alt":""},"moreLinks":{"jsonValue":{"value":[{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Apple Podcasts","Title":"","Url":"https://podcasts.apple.com/us/podcast/forward-thinking/id1319502839"},{"CssClass":"btn btn-fill","LinkType":"external","Target":"_blank","Text":"Spotify","Title":"","Url":"https://open.spotify.com/show/3S6fHLW6mcbDJDp1wkArKI?si=0zvPmiCsQ7SBAPanfpY4aA\u0026nd=1"},{"CssClass":"","LinkType":"internal","Target":"","Text":"Listen to previous episodes","Title":"","Url":"/mgi/forward-thinking"}]}}}]},"disruptorsignup":{"results":[{"mediaID":{"value":"full-width"},"renderMode":{"targetItem":{"key":{"value":"fullwidth"},"value":{"value":"Full Width"}}},"callToAction":{"url":"/user-registration/register-mvc","text":"Subscribe"},"title":{"jsonValue":{"value":"Stay current on your favorite topics"}}},{"mediaID":{"value":"left"},"renderMode":{"targetItem":{"key":{"value":"left"},"value":{"value":"Left"}}},"callToAction":{"url":"/user-registration/register-mvc","text":"Subscribe"},"title":{"jsonValue":{"value":"Stay current on your favorite topics"}}}]}},"ceros":{"results":[{"description":{"jsonValue":{"value":""}},"displayNumber":{"value":""},"desktopOverrideHeight":{"value":""},"desktopPaddingPercentage":{"value":"27.56"},"desktopURL":{"value":"//view.ceros.com/mckinsey/climate-change-promo-desktop"},"hideMediaDividerLine":{"boolValue":false},"hideMediaEyebrow":{"boolValue":true},"mediaEyebrow":{"jsonValue":{"value":""}},"desktopID":{"value":"experience-5ea219db0fcbd"},"headline":{"jsonValue":{"value":""}},"cerosOembedURL":{"value":""},"renderMode":{"targetItem":{"key":{"value":"Full width"},"value":{"value":"-full-width"}}},"mediaID":{"value":"climate"},"mobileID":{"value":"experience-5ea219e121ff0"},"mobileOverrideHeight":{"value":""},"mobilePaddingPercentage":{"value":"71.88"},"mobileURL":{"value":"//view.ceros.com/mckinsey/climate-change-promo-mobile"},"template":{"name":"Ceros"}}]},"exhibit":{"results":[{"id":"B7AAEE32B42F48E282E424DF09CB1858","displayName":"Exhibit 1","mediaID":{"value":"1"},"includeTheAccessibilityDisclaimerText":{"boolValue":true},"headline":{"jsonValue":{"value":""}},"hideBottomBorder":{"boolValue":false},"hideEyebrow":{"boolValue":false},"eyebrow":{"jsonValue":{"value":""}},"displayNumber":{"value":"1"},"description":{"jsonValue":{"value":""}},"desktopImage":{"alt":"","src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/svgz-mgi-climatecasestudycoastal-web-exh1-vf.svgz","description":""},"mobileImage":{"alt":"","src":null},"renderMode":{"targetItem":{"key":{"value":"Medium content column width"},"value":{"value":"medium"}}},"flourishDataVisualizationID":{"value":""},"pNGImage":{"src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/png-mgi-climatecasestudycoastal-web-exh1-vf.png","alt":""},"height":{"value":"1129"},"width":{"value":"1536"},"mobileSVGImage":{"src":null,"alt":""},"mobilePNGImage":{"src":null,"alt":""}},{"id":"8A0E9E732DF34C50BC7665671B3A1F22","displayName":"Exhibit 2","mediaID":{"value":"2"},"includeTheAccessibilityDisclaimerText":{"boolValue":true},"headline":{"jsonValue":{"value":""}},"hideBottomBorder":{"boolValue":false},"hideEyebrow":{"boolValue":false},"eyebrow":{"jsonValue":{"value":""}},"displayNumber":{"value":"2"},"description":{"jsonValue":{"value":""}},"desktopImage":{"alt":"Ho Chi Minh City could experience five to ten times the economic impact from an extreme flood in 2050 versus today.","src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/svgz_mgi-climatecasestudycoastal_web_exh2-final.svgz","description":""},"mobileImage":{"alt":"","src":null},"renderMode":{"targetItem":{"key":{"value":"Medium content column width"},"value":{"value":"medium"}}},"flourishDataVisualizationID":{"value":""},"pNGImage":{"src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/png_mgi-climatecasestudycoastal_web_exh2-final.png","alt":"Ho Chi Minh City could experience five to ten times the economic impact from an extreme flood in 2050 versus today."},"height":{"value":"1605"},"width":{"value":"1536"},"mobileSVGImage":{"src":null,"alt":""},"mobilePNGImage":{"src":null,"alt":""}},{"id":"9C6E376E32B14E2C980EC2866F56D645","displayName":"Exhibit 3","mediaID":{"value":"3"},"includeTheAccessibilityDisclaimerText":{"boolValue":true},"headline":{"jsonValue":{"value":""}},"hideBottomBorder":{"boolValue":false},"hideEyebrow":{"boolValue":false},"eyebrow":{"jsonValue":{"value":""}},"displayNumber":{"value":"3"},"description":{"jsonValue":{"value":""}},"desktopImage":{"alt":"By 2065, a 200-year flood in Bristol, United Kingdom, could be twice as extensive compared to today.","src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/svgz_mgi-climatecasestudycoastal_web_exh3-vf.svgz","description":""},"mobileImage":{"alt":"","src":null},"renderMode":{"targetItem":{"key":{"value":"Medium content column width"},"value":{"value":"medium"}}},"flourishDataVisualizationID":{"value":""},"pNGImage":{"src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/png_mgi-climatecasestudycoastal_web_exh3-vf.png","alt":"By 2065, a 200-year flood in Bristol, United Kingdom, could be twice as extensive compared to today."},"height":{"value":"1014"},"width":{"value":"1536"},"mobileSVGImage":{"src":null,"alt":""},"mobilePNGImage":{"src":null,"alt":""}},{"id":"A048304FE1D64F3880B8CDD39CC80DB5","displayName":"Exhibit 4","mediaID":{"value":"4"},"includeTheAccessibilityDisclaimerText":{"boolValue":true},"headline":{"jsonValue":{"value":""}},"hideBottomBorder":{"boolValue":false},"hideEyebrow":{"boolValue":false},"eyebrow":{"jsonValue":{"value":""}},"displayNumber":{"value":"4"},"description":{"jsonValue":{"value":""}},"desktopImage":{"alt":"By 2065, a 200-year flood in Bristol, United Kingdom, could produce 18 times more infrastructure damage and 30 times more knock-on effects.","src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/svgz_mgi-climatecasestudycoastal_web_exh4-vf.svgz","description":""},"mobileImage":{"alt":"","src":null},"renderMode":{"targetItem":{"key":{"value":"Medium content column width"},"value":{"value":"medium"}}},"flourishDataVisualizationID":{"value":""},"pNGImage":{"src":"/~/media/mckinsey/business functions/sustainability/our insights/can coastal cities turn the tide on rising flood risk/png_mgi-climatecasestudycoastal_web_exh4-vf.png","alt":"By 2065, a 200-year flood in Bristol, United Kingdom, could produce 18 times more infrastructure damage and 30 times more knock-on effects."},"height":{"value":"1496"},"width":{"value":"1536"},"mobileSVGImage":{"src":null,"alt":""},"mobilePNGImage":{"src":null,"alt":""}}]},"image":{"results":[]},"exhibitcarousel":{"results":[]},"pullquote":{"results":[]},"disruptorsignup":{"results":[{"mediaID":{"value":"full-width"},"renderMode":{"targetItem":{"key":{"value":"fullwidth"},"value":{"value":"Full Width"}}},"callToAction":{"url":"/user-registration/register-mvc","text":"Subscribe"},"title":{"jsonValue":{"value":"Stay current on your favorite topics"}}},{"mediaID":{"value":"left"},"renderMode":{"targetItem":{"key":{"value":"left"},"value":{"value":"Left"}}},"callToAction":{"url":"/user-registration/register-mvc","text":"Subscribe"},"title":{"jsonValue":{"value":"Stay current on your favorite topics"}}}]},"articlesidebar":{"results":[{"mediaID":{"value":"1"},"description":{"jsonValue":{"value":"\u003cp\u003eIn \u003cem\u003e\u003ca href=\"/capabilities/sustainability/our-insights/climate-risk-and-response-physical-hazards-and-socioeconomic-impacts\"\u003eClimate risk and response: Physical hazards and socioeconomic impacts\u003c/a\u003e\u003c/em\u003e, we measured the impact of climate change by the extent to which it could affect human beings, human-made physical assets, and the natural world. We explored risks today and over the next three decades and examined specific cases to understand the mechanisms through which climate change leads to increased socioeconomic risk. \u003c/p\u003e\n\u003cp\u003eIn order to link physical climate risk to socioeconomic impact, we investigated cases that illustrated exposure to climate change extremes and proximity to physical thresholds. These cover a range of sectors and geographies and provide the basis of a \u0026ldquo;micro-to-macro\u0026rdquo; approach that is a characteristic of McKinsey Global Institute research. To inform our selection of cases, we considered over 30 potential combinations of climate hazards, sectors, and geographies based on a review of the literature and expert interviews on the potential direct impacts of physical climate hazards. We found these hazards affect five different key socioeconomic systems: livability and workability, food systems, physical assets, infrastructure services, and natural capital. \u003c/p\u003e\n\u003cp\u003eWe ultimately chose nine cases to reflect these systems and to represent leading-edge examples of climate change risk. Each case is specific to a geography and an exposed system, and thus is not representative of an \u0026ldquo;average\u0026rdquo; environment or level of risk across the world. Our cases show that the direct risk from climate hazards is determined by the severity of the hazard and its likelihood, the exposure of various \u0026ldquo;stocks\u0026rdquo; of capital (people, physical capital, and natural capital) to these hazards, and the resilience of these stocks to the hazards (for example, the ability of physical assets to withstand flooding). We typically define the climate state today as the average conditions between 1998 and 2017, in 2030 as the average between 2021 and 2040, and in 2050 between 2041 and 2060. Through our case studies, we also assess the knock-on effects that could occur, for example to downstream sectors or consumers. We primarily rely on past examples and empirical estimates for this assessment of knock-on effects, which is likely not exhaustive given the complexities associated with socioeconomic systems. Through this \u0026ldquo;micro\u0026rdquo; approach, we offer decision makers a methodology by which to assess direct physical climate risk, its characteristics, and its potential knock-on impacts. \u003c/p\u003e\n\u003cp\u003eClimate science makes extensive use of scenarios ranging from lower (Representative Concentration Pathway 2.6) to higher (RCP 8.5) CO\u003csub\u003e2\u003c/sub\u003e concentrations. We have chosen to focus on RCP 8.5, because the higher-emission scenario it portrays enables us to assess physical risk in the absence of further decarbonization. (We also choose a sea-level rise scenario for one of our cases that is consistent with the RCP 8.5 trajectory). Such an \"inherent risk\" assessment allows us to understand the magnitude of the challenge and highlight the case for action. For a detailed description of the reason for this choice see the technical appendix of the full report. \u003c/p\u003e\n\u003cp\u003eOur case studies cover each of the five systems we assess to be directly affected by physical climate risk, across geographies and sectors. While climate change will have an economic impact across many sectors, our cases highlight the impact on construction, agriculture, finance, fishing, tourism, manufacturing, real estate, and a range of infrastructure-based sectors. The cases include the following: \u003c/p\u003e\n\u003cul\u003e\n \u003cli\u003eFor livability and workability, we look at the risk of exposure to extreme heat and humidity in India and what that could mean for that country\u0026rsquo;s urban population and outdoor-based sectors, as well as at the changing Mediterranean climate and how that could affect sectors such as wine and tourism. \u003c/li\u003e\n \u003cli\u003e For food systems, we focus on the likelihood of a multiple-breadbasket failure affecting wheat, corn, rice, and soy, as well as, specifically in Africa, the impact on wheat and coffee production in Ethiopia and cotton and corn production in Mozambique. \u003c/li\u003e\n \u003cli\u003e For physical assets, we look at the potential impact of storm surge and tidal flooding on Florida real estate and the extent to which global supply chains, including for semiconductors and rare earths, could be vulnerable to the changing climate. \u003c/li\u003e\n \u003cli\u003eFor infrastructure services, we examine 17 types of infrastructure assets, including the potential impact on coastal cities such as Bristol in England and Ho Chi Minh City in Vietnam. \u003c/li\u003e\n \u003cli\u003e Finally, for natural capital, we examine the potential impacts of glacial melt and runoff in the Hindu Kush region of the Himalayas; what ocean warming and acidification could mean for global fishing and the people whose livelihoods depend on it; as well as potential disturbance to forests, which cover nearly one-third of the world\u0026rsquo;s land and are key to the way of life for 2.4 billion people.\u003c/li\u003e\n\u003c/ul\u003e"}},"aboutTheAuthors":{"jsonValue":{"value":""}},"headline":{"jsonValue":{"value":"An overview of the case study analysis"}},"footnotes":{"value":""},"showShareTools":{"boolValue":true},"backgroundColor":{"targetItem":{"key":{"value":"Lightest Grey"},"value":{"value":"lightest-grey"}}},"gradientDirection":{"targetItem":{"key":{"value":"Bottom Right"},"value":{"value":"bottom-right"}}},"renderMode":{"targetItem":{"key":{"value":"Collapsible"},"value":{"value":"default"}}},"isAboutAuthor":{"boolValue":false},"background":{"targetItem":null},"image":{"src":null,"alt":""}}]},"boxout":{"results":[]},"globalsidebar":{"results":[]},"video":{"results":[{"template":{"name":"Video"},"mediaID":{"value":"Bristol"},"videoID":{"value":"6150110281001"},"headline":{"value":"Could Bristol’s flood risk grow from a problem to a crisis by 2065?"},"description":{"value":""},"mediaEyebrow":{"value":"Video"},"displayNumber":{"value":""},"hideMediaEyebrow":{"boolValue":false},"displayMode":{"targetItem":{"key":{"value":"Expanded"},"value":{"value":"Expanded"}}}},{"template":{"name":"Video"},"mediaID":{"value":"HCMC"},"videoID":{"value":"6150111520001"},"headline":{"value":"What to know about flood risk in Ho Chi Minh City, Vietnam"},"description":{"value":""},"mediaEyebrow":{"value":"Video"},"displayNumber":{"value":""},"hideMediaEyebrow":{"boolValue":false},"displayMode":{"targetItem":{"key":{"value":"Expanded"},"value":{"value":"Expanded"}}}}]},"scrollycontainer":{"results":[]},"bespokeinteractive":{"results":[]},"storycontainer":{"results":[]},"interactive":{"results":[]},"sectionheader":{"results":[]},"statementdisruptor":{"results":[]},"fullbleedphoto":{"results":[]},"tocitem":{"results":[]},"quizcontainer":{"results":[]},"generalup":{"results":[]},"twoupmedium":{"results":[]},"accordion":{"results":[]},"factoid":{"results":[]},"promobarwithquote":{"results":[]},"oneupmedium":{"results":[]},"oneupmediumquote":{"results":[]},"gridwall":{"results":[]},"twoupsmall":{"results":[]},"oneclicksubscribe":{"results":[]},"promobar":{"results":[]},"promobanner":{"results":[]},"sectionhero":{"results":[]},"threeuplinklist":{"results":[]},"table":{"results":[]},"explainertooltip":{"results":[]},"isFiveFiftyHorizontalArticle":{"boolValue":false},"fiveFifty":{"results":[]}},"contextItem":{"ancestors":[{"breadCrumbUrl":{"path":"/capabilities/sustainability/our-insights"},"breadCrumbTitle":{"value":"Our Insights"},"isMiniSite":{"boolValue":false},"displayName":"Insights on Sustainability","template":{"id":"85FF05307883480F9A4C82123F72FFD8"}},{"breadCrumbUrl":{"path":"/capabilities/sustainability/how-we-help-clients"},"breadCrumbTitle":null,"isMiniSite":{"boolValue":true},"displayName":"Sustainability","template":{"id":"414C6C64AD35440E9668CF39D8A18CCF"}},{"breadCrumbUrl":{"path":"/capabilities"},"breadCrumbTitle":{"value":"Capabilities"},"isMiniSite":{"boolValue":false},"displayName":"Capabilities","template":{"id":"85FF05307883480F9A4C82123F72FFD8"}},{"breadCrumbUrl":{"path":"/"},"breadCrumbTitle":{"value":""},"isMiniSite":{"boolValue":false},"displayName":"Home","template":{"id":"85FF05307883480F9A4C82123F72FFD8"}}]}}},"placeholders":{"main-area":[],"sidebar-area":[]}}]}},"itemId":"2f953dab-8f7c-4b25-98f4-9f55a6422e85","pageEditing":false,"site":{"name":"website"},"pageState":"normal","language":"en","pageMetaData":{"alternateLanguages":[{"languageCode":"en","displayName":"English","url":"/capabilities/sustainability/our-insights/can-coastal-cities-turn-the-tide-on-rising-flood-risk"}],"currentLanguage":"en","navigationLink":"capabilities","activeItemId":"{167A4DEB-04E8-4AA5-8531-1F0306D97396}","miniSiteId":"{A0C88A50-47ED-49AB-9934-443BB95D39E5}","officeCode":"","officeDisplayName":"","subscriptionPracticeData":null,"isAlaisedPage":false,"originalHostName":"www.mckinsey.com","updatedDate":"2024-03-19T21:12:55Z","createdDate":"2020-09-08T15:07:27Z","practice":{"isDefaultPractice":false,"name":"Sustainability","code":"N31","stickyTitle":"Sign up for emails on new Sustainability articles","stickySubtitle":"Never miss an insight. We'll email you when new articles are published on this topic.","previewLink":"","previewLinkLabel":"Preview","description":null,"descriptionText":"Get the latest articles on this topic delivered to your inbox","frequency":"Alert","regFormTitle":null},"url":"/capabilities/sustainability/our-insights/can-coastal-cities-turn-the-tide-on-rising-flood-risk","isCareersPage":false,"officePath":"","hideAppPromo":false,"isAlumniURL":false,"isAlumniItemAccessable":false,"accessRoles":["sitecore\\GlobalOfficeEditor","Insights\\ClientLink","sitecore\\McKinseyAllAccess","Insights\\InsightsMedia","Offices\\Everyone","Insights\\InsightsAllAccess","extranet\\Everyone","Offices\\AngolaAllAccess","Offices\\SwitzerlandAllAccess","Offices\\KoreaAllAccess","Offices\\PortugalAllAccess","Offices\\DenmarkAllAccess","Offices\\FranceAllAccess","Offices\\UKIrelandAllAccess","Offices\\SouthAfricaAllAccess","Offices\\RussiaAllAccess","Offices\\SpainAllAccess","Offices\\JapanAllAccess","Offices\\NigeriaAllAccess","Offices\\FinlandAllAccess","sitecore\\AboutUsAuthor","sitecore\\ClientLinkAccess","sitecore\\Temp role","Offices\\JPOAuthor"],"accessUsers":["AlumniCenter\\Alumni","extranet\\Anonymous","AlumniCenter\\FirmmemberAdmin","GSAAuthenticated\\Anonymous","extranet\\authenticated","AlumniCenter\\Firmmember","AlumniCenter\\CorporateRecruiter","sitecore\\MelanieColton","sitecore\\david_gomes","sitecore\\jeffrey_acevedo","sitecore\\justtestuser","Insights\\Amy_Swan","sitecore\\Mohammed_Irshad_K","sitecore\\sujatha_victor","sitecore\\Preethi_Bandi","sitecore\\Santoshini_Allamsetty","Insights\\Vasudha_Gupta","sitecore\\dalexander","sitecore\\lauren_meling","sitecore\\Elissa_Bandler"],"itemInfo":{"id":"2f953dab-8f7c-4b25-98f4-9f55a6422e85","fullPath":"/sitecore/content/McKinsey/Home/Capabilities/Sustainability/Our Insights/Can coastal cities turn the tide on rising flood risk","templateName":"ArticleJSS","templateID":"683910db-02ba-40ba-92e7-726c880160a9"}},"defaultSettings":{"McKinsey Quarterly":"\u003cem\u003eMcKinsey Quarterly\u003c/em\u003e","FacebookCID":"soc-web","LinkedInCID":"soc-web","TwitterCID":"soc-web","Home Page SEO Details":{"Description":"McKinsey \u0026 Company is the trusted advisor and counselor to many of the world's most influential businesses and institutions.","Image_Url":"/~/media/images/global/seoimageplaceholder.jpg","Image_Alt":""}},"alumniDatalayerChunk":"static/chunks/alumnidatalayer.bea6461bc1a93bf6.js"},"componentProps":{},"notFound":false},"__N_PREVIEW":true,"__N_SSP":true},"page":"/[[...path]]","query":{"timestamp":"1739434253856","path":["capabilities","sustainability","our-insights","can-coastal-cities-turn-the-tide-on-rising-flood-risk"]},"buildId":"jIkMSrTx4uqE8V-HInFJO","runtimeConfig":{"CONFIG_ENV":"production","CURRENT_ENV":"production","PUBLIC_URL":"https://www.mckinsey.com","PUBLIC_CMS_URL":"https://cms-prod.mckinsey.com","RECAPTCHA_V3_KEY":"6LdC5twSAAAAAF0dePIbY_ckeF05mKdYYJXn7uTg","INVISIBLE_RECAPTCHA_KEY":"6LcWCs0UAAAAAEik2NaGkfGH8mGHo1ThxIt-qUoE","USER_SERVICE_API_HOST":"https://prd-api.mckinsey.com","MOBILE_SERVICES_HOST":"https://mobileservices.mckinsey.com","SEARCH_SERVICE_API_HOST":"https://mckapi.mckinsey.com","OT_DATA_DOMAIN_SCRIPT_COM":"915b5091-0d7e-44d2-a8c4-cf08267e52fe","OT_DATA_DOMAIN_SCRIPT_DE":"13f50396-9d33-4d95-ba3e-1f108fa91009","OT_DATA_DOMAIN_SCRIPT_BR":"679eae24-1d5c-4f33-8aae-b35aa8269966","ADOBE_LAUNCH":"a400cfbb2fd3","BCOV_POLICY":"BCpkADawqM3Kw-9uDslNJRKDKV902YBckQibdHvtCe7_E1CZUK-yA5lMOb0bP1Jmd13AXAimBAu9t6P25EhnE825MQxq4h4gzCSC4KvcIHFy2o5ay1FC1x7wzMAIhOee5bfcN5IJQx6CACEfqD6MjNGOa4Mh5LH3vPUAJm5oqesmj6CCd1LHOIyuDfTagR09agAhz4Ip_rz_4ksu4nquPxb2t4ZAzriRvCuZcBcGstib_ZFC8TZnALZ4lQDqnXvywA0mvcIcBN5UFD0mi9hLUMuP8-Q6YypPmnQA0WghaliiEvdty3YPyFYgUpQ-JqI7FX5e_lXDFKUsw7NhT6GYeYVdfIvXw_Wzz2bon3xTO_qSpFXjje5vbz7RbLHzLEZV_oaR74diNRT_SSTZbS2LkfGEBAYwNdRdLn5p1FhryNkg5ykrzRa9VhKcPPNuAj0w9Oj5j1Zd84f5_exyF4QM4_5VBu5NQyiUuWzWVPANIDpeFLxzP5psM-76ObRo9FgSmMi85MRqiSJYxfDCNxZCVJVSvlVR-smfLkuAD4Za9B4e57pzXgLwEBNYTIu-hl8C4xkTtIl1H_DxC4-X0iKmqPhFc0-z4UALqgntgcNbp6iutLU-Ue7z0Mr175s7GmZ9rRrqcolGT-4iwlAPcfm_E3ky-PdJZP6peSf_9WY9A0nhxgavAgYCvuFGqh1xUTRmYDNHOfb5xxW8nkFIRU2R9jk6zuRIVIFkOpX2Fp1427ipkVFchRcFu90FwvPYKtByEf7SynOSOrMHgJjkqWUHYvHzTYBmVvExyOlAYAlfovJUueYEjV3WKPsvmMxKHIL4wfxsEjVq5rAkY-qoiG_aA-p-0X2jd6x0nR7Fajn9No0EMN0OPXs3yjdpxC_a37eMC8dS4gIJjYJK5_xz8y5Q2uJUz9dmkqAMGc4CH9eJNDE5rP5kwAmLnHtnA36_kxbHsy6WVBllf4_jE9kQ3L-TfuZLBJtAZOqObTMtpUJYiOIYYkGnQgaiik8wyMvAsfGI3bRVEhkSJ7315aHLMp_K0WuHWW53v-lS4T4J0t8FmPHFCAsUC5LEHB9_cib12s055WPADQ8Q9VIMgzXJu04Eqi-zQHb7H1mmckN7gDXz0IqHAWF35mSwjs20HKG-p10f4Cj68Y_sV7Tdnx05lqmMJTumEPTfYiEwKNKWnUvH6Di2-XDUHZkgT1xUUIVxBIkmQsHRcdnNcxEdh_HTFljfGcdw-34bnVCJlUBklw","sitecoreApiHost":"https://prod.mckinsey.com","FB_APP_ID":"1382278882079245","ARTICLE_API_HOST":"https://prd-api.mckinsey.com","SITECORE_FORMS_SERVICES_API_HOST":"https://prd-api.mckinsey.com","FEATURE_TOGGLES":"{\"stack_adapt_pixel\": false, \"article_seo_schema\":true, \"remember_me\": true, \"gql_promo_banner\": true, \"gql_highlight_bar\": true, \"gql_ceros_placeholder\": true, \"gql_two_up_medium\": true, \"gql_hero_with_partnership_mark\": true, \"gql_brightcove_gallery\": true, \"gql_one_up_medium\": true, \"gql_promo_bar_with_quote\": true, \"gql_fifty_fifty_hero\": true, \"gql_enhanched_hero\": true, \"gql_two_up_small\": true, \"gql_general_up\": true, \"gql_full_bleed_hero\": true, \"passwordless_login_enabled\": true, \"sso_enabled\": true, \"article_id\": \"\", \"personalisation_enabled\":true, \"hide_student_sticky_footer\":true, \"email_domain_validation_enabled\":true, \"enable_cid_cookie_qp\": true, \"otp_verification_enabled\": true, \"article_ratings_enabled\": true, \"article_ratings_enabled_mobile\": true, \"disable_profile_for_alumni\": true, \"firm_sso_enabled\": true}","HEADER_SCRIPT_HASH":"abcd1234","OKTA_AUTH_CLIENT_ID":"0oa8ppb3ypQ8uOI8y697","OKTA_AUTH_ISSUER":"https://dotcomidp.mckinsey.com/oauth2/aus2byav0jTElyFDD697/","AUTO_REDIRECTION_DURATION":"5","LINKEDIN_IDP":"0oaecyj1byxnfrfFk697","APPLE_IDP":"0oaeg2lxy6mq4PX5F697","GOOGLE_IDP":"0oaeczfkb03XL3E4O697","FIRM_SSO_IDP":"0oannwofycK193SNs697","ALUMNI_BASE_API_URL":"https://gateway.mckinsey.com/:apiKey/v1","ALUMNI_AUTHENTICATE_API_URL":"https://ac3-okta-auth.mckinsey.com/authenticate","ALUMNI_OKTA_URL":"https://mckinsey.okta.com/app/mckinsey_ac3_1/exk1slverqoqR80wm2p7/sso/saml","ALUMNI_OKTA_ENABLED":"false","GOOGLE_MAP_API_KEY":"AIzaSyDqrGDNMDjy9pXHkMf-_Ut33LoC725GSe4","AWS_GATEWAY":"https://gateway.mckinsey.com","AWS_API_GATEWAY_ID":"283ao0jjs3","AWS_PERSONALIZATION_TRACKING_ID":"0e6bebf6-33df-48c3-a0ab-31dc0a18f583","AWS_PERSONALIZATION_CID":"recommendations-onw-onw-mck-mck-art-2410-v1-user-ext-web","EVENTS_MODULE_CARDS_COUNT":"8","RECOMMENDATIONS_OFFER_ACTIVITY":"Article Recommendations"},"isFallback":false,"dynamicIds":[70281,12711,76731,42354,35278,68578,98391],"gssp":true,"locale":"en","locales":["en","da-DK"],"defaultLocale":"en","isPreview":true,"scriptLoader":[]}</script><script type="text/javascript" src="/WT0M/oqRU/7oA/KD1/Kl_g/i9piXDmbbJDfuV/Yy41AxIr/dmB/4eB1XalcB"></script></body></html>