Economy versus the Environment. This is a slogan for many when they consider the challenges of dealing with Climate Change and the reduction of greenhouse gas (GHG) emissions.

In 2007, McKinsey issued Reducing US Greenhouse Gas Emissions: How Much at What Cost? that provided a a significant contribution to this discussion. McKinsey’s conclusion: at an “affordable” cost of well below $50 per ton, in aggregate, the United States can meet necessary 2030 targets for GHG emission reductions. All-in-all, this was quite good news for those advocating acting to deal with Climate Change.

There was (and is) reason why the original study and McKinsey’s continuing work in this arena have been widely discussed / cited over the past two years. And, variants of the graphic on cost abatement have shown up in briefing after briefing, article after article, book after book. Good news.

Or, well, is it? McKinsey’s work provides significant data that addressing the environment will have economic cost. Even if a low number, with many actions providing economic benefit, the McKinsey work has a serious underlying thematic: it will cost to address climate change.

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The world stands to gain 6.9 million jobs by 2030 in the clean energy sector if a strong deal is reached in Copenhagen, according to a report released recently by Greenpeace International and the European Renewable Energy Council (EREC).

A switch from coal to renewable electricity generation will not just avoid 10 billion tons of CO2 emissions, but will create 2.7 million more jobs by 2030 than if we continue business as usual. Conversely, the global coal industry — which currently supports about 4.7 million employees worldwide — is likely to contract by more than 1.4 million jobs by 2030, due to rationalization measures in existing coal mines.

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The US Federal government released a major report this week. The report summarizes the science and the impacts of climate change on the United States, now and in the future. It focuses on climate change impacts in different regions of the US and on various aspects of society and the economy such as energy, water, agriculture, and health. The report is the work of 12 federal agencies including the EPA, DOD, DOC, NASA, and others. It’s written in plain language, with the goal of better informing public and private decision making at all levels.

The Key Findings of the report are:

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