NEW YORK--The United States could reduce projected 2030 emissions of greenhouse gases by between one-third to one-half at manageable costs to the economy and without requiring big changes in consumer lifestyles, according to a report published today.
Reducing US Greenhouse Gas Emissions: How Much at What Cost?, published jointly by McKinsey & Company, the management consulting firm, and The Conference Board, the business research organization, is based on detailed analysis of 250 opportunities for reducing emissions of carbon dioxide and other gases thought to contribute to global warming.
On the present path, annual U.S. greenhouse gas emissions will increase by 35 percent to reach 9.7 gigatons of carbon dioxide equivalent (CO2e) in 2030, according to an analysis of government forecasts. At this level, emissions would overshoot by 3.5 to 5.2 gigatons the targets implied by
economy-wide climate change bills introduced in Congress. A gigaton is one billion metric tons.
The report shows a reduction of 3.0 to 4.5 gigatons in 2030 is achievable at manageable cost using proven and emerging high-potential technologies - but only if the U.S. pursues a wide array of options and moves quickly to capture gains from energy efficiency.
Almost 40 percent of the opportunity for greenhouse gas reduction identified comes from options that more than pay for themselves over their lifetimes, thereby creating net savings for the economy. For example, improving energy efficiency in buildings, appliances and industry could yield net savings while offsetting some 85 percent of the projected incremental demand for electricity in 2030.
However, the report warns that private sector innovation and policy support will be necessary to unlock these and other opportunities.
The full report is available online.
Reducing US Greenhouse Gas Emissions: How Much at What Cost?
www.mckinsey.com/greenhousegas
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