Global Warming Could Be Stopped.. for $263 Billion

Posted by Ed Oswald Jan 27, 2009

While NOAA is warning us all that climate change may be irreversible for as long as 1,000 years, there may be something that can be done to at least stop our potentially damaging effects to global climate. Analyst firm McKinsey & Company says that a $263 billion investment annually by 2030 could do the trick, Bloomberg reports.

In the 192-page report, the firm suggests that spending be increased on technologies to improve energy efficiency and clean sources of power. In addition, it also recommends projects be undertaken to replenish the worlds forests, which have been ravaged by deforestation.

McKinsey's suggestions are aimed at keeping global temperatures from rising more than 2C (3.6F), where afterwards it is generally agreed problems as a result of climate change could become potentially disastrous. Time is off the essence: "Delays in action of even 10 years would mean missing the 2 degrees Celsius target," the firm warns.

As much as 47 billion of the 70 billion tons of greenhouse gases could be eliminated if immediate action is taken, and the cost could be as little as 1 percent of the global economy -- not a bad investment to "save the planet."