|January 27, 2009|
Pathways to a Low-Carbon Economy
|The potential exists to reduce greenhouse gases emissions by just enough to contain global warming below 2 degrees Celsius according to a new report issued by McKinsey & Company. |
The report, which builds on the first global study published by McKinsey in January 2007, contains Version 2 of the global greenhouse gas abatement cost curve.
It notes that while many nations are working in plans and strategies to reduce emissions of greenhouse gases (GHGs), an intense debate is underway on the technical and economic feasibility of achieving different target levels for emission reductions. Opinions vary as to what reduction opportunities should be pursued, and what will be the true economic and social costs of different options for meeting these targets.
To provide a quantitative basis for such discussions, McKinsey & Company, supported by ten leading global companies and organizations - The Carbon Trust, ClimateWorks, Enel, Entergy, Holcim, Honeywell, Shell, Vattenfall, Volvo, WWF - assessed more than 200 GHG abatement opportunities across 10 major sectors and 21 world regions between now and 2030. The results comprise an in-depth evaluation of the potential, costs and investment required for each of those measures.
The analysis concludes that:
This report includes an updated assessment of the development of low-carbon technologies, of macro-economic trends and a more detailed understanding of abatement potential in different regions and industries. Furthermore it assesses investment and financing requirements and incorporates implementation scenarios for a more dynamic understanding of how abatement reductions could unfold.
To download the report appropriate forms are available on the McKinsey report’s Web site:McKinsey & Company