Carbon Footprints

Business research company McKinsey have just released a detailed report into the Australian Cost Curve for GHG Reduction where they make 3 major findings.

1. A significant reduction in Australian GHG emissions is achievable — 30 percent below 1990 levels by 2020 and 60 percent by 2030 without major technological breakthroughs or lifestyle changes.
2. Reducing emissions is affordable—with an average annual gross cost of approximately A$290 per household to reduce emissions in 2020 to 30 percent below 1990 levels.
3. Achieving significant emissions reductions requires prompt action from government, business and consumers.

I find this incredibly encouraging. McKinsey is known for its sober and conservative analysis so these findings, one hopes, could stimulate the government to revise their stated targets from a dangerous 9% increase in emissions over 1990 levels (5% reduction on 2000 levels equals a 9% increase over 1990 levels) by 2020 to something more effective and in line with the rest of the developed world. Europe has committed to 20% reduction below 1990 levels by 2020 as has the USA. The McKinsey report makes it plain that there is little cost, and a lot to gain, in showing true leadership in this area instead of obfuscating. — DS

Technorati Tags: Australia, Carbon Pollution Reduction Scheme, Climate Change, CRPS, economics, emissions reduction, global warming, McKinsey

This entry was posted on Monday, January 19th, 2009 at 8:36 AM and is filed under The Carbon Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.