Wanted to point out an important new McKinsey study released this Monday - "Reducing U.S. Greenhouse Emissions: How Much at What Cost".
Made quite a bit of noise when it landed, here, here and here. Same essential premise as the Vattenfall study released in January 2007, and McKinsey article from the start of this year. The newest study has updated the always popular GHG abatement cost curve.Relying on tested approaches and high-potential emerging technologies, the U.S. could reduce annual GHG emissions by as much as 3.0 gigatons in the mid-range case to 4.5 gigatons in the high range case by 2030. These reductions from reference case projections would bring U.S. emissions down 7 to 28 percent below 2005 levels, and could be made at a marginal cost less than $50 per ton, while maintaining comparable levels of consumer utility.
The premise is to compare potential abatement with cost. It's difficult to see in this image, but 40% of the abatement actually has a negative marginal cost...mostly building and efficiency gains, CFL and LED lighting, and improved fuel economy.
I got to participate a little in the crafting of a small section of the new McKinsey report over the summer. Fascinating process.
There's a lot more to dig into in this, but time doesn't permit it. Hopefully I can get to it soon, and also blog about several other reports I've had the chance to read through.
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"Reducing U.S. Greenhouse Emissions: How Much at What Cost" is a crucial conversation that delves into the intersection of environmental responsibility and economic feasibility. It examines the necessary steps to mitigate climate change while considering the financial implications for industries, governments, and individuals.
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