DKK 82 to save climate
Saving the climate may be cheaper than most people think – according to McKinsey.
A new report from the McKinsey consulting group suggests that spending EUR 75 billion each year up to 2030 would keep temperature rise below the critical two degrees tipping point. At DKK 82 per person, the figures are much lower than previously estimated, according to Mandag Morgen.
McKinsey’s calculations show that the extra cost of solving global climate problems is less than two per mille of global GDP – much more optimistic than calculations provided by the United Nations climate experts.
“Our evaluation of costs is lower than the Climate Panel and Sir Nicholas Stern’s calculations. We are more optimistic,” says McKinsey Climate Initiative Global Director Jeremy Oppenhein, according to Mandag Morgen.
Also positive effects
According to the Stern Report, the bill to save the climate will reach one percent of global GDP. The background for McKinsey’s more optimistic calculations is the inclusion of the positive spin-offs that come from climate investment.
McKinsey concludes that many of the climate solutions that have been studied should not be seen as costs, but rather investment. Among other things, reductions in CO2 emissions give savings.
The report is expected to be published at the World Business Summit on Climate Change which is to take place in Copenhagen from May 24-26.