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Save the Planet – Only €530 billion

Posted in Climate by Cheryl Morgan on the January 27th, 2009

That’s the opinion of McKinsey anyway. And given that many scientists and environmentalists are already saying it is too late to prevent a disaster, that’s a bargain.

Perhaps more significantly, the McKinsey report estimates the cost of action to abate climate change to be less than 1% of global GDP. That compares to an estimate of 20% of global GDP that the Stern Report suggested the impending disaster would cost.

Of course, no one really knows. Doubtless the doom mongers will already be lining up their complaints. But doom mongering rarely begets action. Perhaps what politicians need is exactly the sort of upbeat, positive message that McKinsey is pushing.

You can find the whole report here, or there is a summary on EurActive.

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