Cost of meeting EU climate goal "bearable"

Meeting an EU target to keep global temperature rise within two degrees C will cost between 0.6 and 1.4 per cent of global GDP by 2030, according to a study by management consultancy McKinsey. The figures were produced by the firm's Stockholm office and used by Swedish power firm Vattenfall in research presented earlier this year (EED 18/01/07). A European commission spokeswoman said the report was further proof that the costs of acting on climate change are "bearable", even in the "exaggerated scenario" used by McKinsey. See McKinsey climate study (registration required).

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