Impact of the financial crisis on carbon economics - Version 2.1 of the Global Greenhouse Gas Abatement Cost Curve
This report, released by McKinsey and Company, aims to provide a fact base on emissions-reduction opportunities and their associated cost and investment needs. It includes an updated global greenhouse gas (GHG) abatement cost curve (illustrating the estimated size and cost of feasible approaches to abatement by 2030 incl. measures that improve buildings energy efficiency) with a new baseline reflecting a post-crisis belief about the development of the global economy and associated emissions.
According to the document, the crisis has had relatively little impact on the greenhouse gas abatement challenge. The main messages and implications from the report “Pathways to a low-carbon economy” released in 2009(1), have not changed substantially. The global business as usual emission projection for 2030 has dropped by only 6% relative to the pre-crisis estimate. The total abatement potential remains essentially the same. Emission reductions might become cheaper in relative terms as a result of higher fossil fuel price expectations by the external agencies that we rely on for the baseline forecast.
To access the report, please visit McKinsey's webpage at the link below.
(1) McKinsey published the first global greenhouse gas (GHG) abatement curve in February 2007 and created a comprehensive update with version 2 in January 2009. In August 2010 they released their findings of the impact of the financial crisis on carbon economics, called version 2.1.