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The high costs of cutting carbon emissions

January 30, 2009

By Dr. Eric Fruits,
Econinternational

According to a report by consulting firm McKinsey & Co., the world can keep global warming in check if nations spend trillions of dollars on energy efficiency, clean power and forestry projects over the next 20+ years.  In addition to typical annual capital investments, the report concludes that beginning in 2011, additional investments of $475 billion a year would be required to keep global temperatures 2 degrees Celsius below pre-Industrial temperatures. By 2026, the cost would rise to $1.2 trillion a year.

The net present value today of the additional expenditures between 2011 and 2030 would be approximately $7.3 trillion. That is bigger than China’s economy today and equivalent to the economies of Japan and India combined.

Citation: Dinkel, J., Enkvist, P.-A., Nauclér, T., and Pestiaux, J. (2009). Pathways to a low-carbon economy: Version 2 of the global greenhouse gas abatement cost curve. McKinsey & Company.

  
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Discuss this article

cc33 January 30, 2009

I am sure we can find a better way to protect the environment and maybe only spend $1 trillion. I can do it.

Eli January 30, 2009

Now what needs to happen is for Obama, or Al Gore, to take that number and share it with the world and committ every nation to share the burden equally. Any volunteers?

no name January 30, 2009

I would like to officially volunteer North Korea.

Bill Voorhees July 7, 2009

The premise of global warming is based on a faulty assumption; that global warming is a result of human endeavor.
One needs only to look at the geologic history of the planet to realize how wrong and arrogant that assumption is.

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