Karl Burkart penned a new article critiquing McKinsey new report on the cost of transitioning to net zero carbon emissions by 2050. Read the intro below and the full piece here.
A new report by McKinsey on the costs of transitioning the world to net zero carbon emissions by 2050 is making the rounds, brandishing a shocking top line figure of $9.2 trillion per year. But if you dig into the report, you quickly see that this headline is disingenuous, creating an impression that it would be nearly impossible to raise the volume of capital required to solve the climate crisis. In reality, according to the math, it will only cost a small fraction of this amount — roughly $1 trillion per year in additional spending. Our colleagues at Carbon Tracker and I break down some of the issues with the report, and why investing in a clean, renewable future is a financial no-brainer.
