McKinsey: options for a low-carbon economy
McKinsey & Company has mapped out a couple of conceivable scenarios that would put humanity on a pathway to stabilize greenhouse gas concentrations well below 550 parts per million, an oft-cited and somewhat arbitrary target that increases the odds of avoiding a temperature increase of more than 2 degrees Celsius. Whether or not such action would actually guarantee said result is a different matter, but McKinsey suggests it's possible to come in at 480 ppm, which leaves a little room for error.
To see one of the leading global business consultancies putting out such a document (download requires free registration) is encouraging, but conceivable does not mean easy, let alone likely. And to be clear, "Pathways to a Low-Carbon Economy," now in its second draft, is not so much a plan of action as an analysis of the options. McKinsey calls it a "greenhouse gas abatement database." They attempt to quantify relative potential and costs of each approach, focusing on abatement schemes that are likely to ring in under 60 euros per ton of carbon dioxide. The company then round things out with a few scenarios illustrating what it would take to reduce global emissions by 35-40 percent below 1990 levels by 2030.
Reading the report, you get a sense that you are looking at a menu. I'll take an order of new insulation for old buildings as an appetizer, and then move on to wind, nuclear, and plug-in hybrids. How about some rice management for desert? As it happens, McKinsey projects that the insulation and rice will pay for themselves, but there are barriers to even the most logical choices: In many cases, the approaches that are the most cost effective over the long-term also require the most up-front capital, which isn't exactly plentiful at the moment.
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