How The European Union Could Achieve Net-Zero Emissions At Net-Zero Cost

In December 2019, the European Commission introduced an ambitious proposal to make the bloc climate-neutral by 2050. Although the proposal set specific 2030 and 2050 emission-reduction goals, it did not explain how much each sector and member state should contribute to the desired emissions reductions or what achieving those reductions would cost. The decarbonization pathways to a net-zero Europe are countless, but not all are cost optimal. This report explores one pathway that could reduce the EU’s emissions 55 percent by 2030 while delivering broad economic benefits. This report shows that the European Union can achieve net-zero emissions without compromising prosperity. Advances over the last decades have put climate neutrality within reach. 

By Paolo d’Aprile, Hauke Engel, Stefan Helmcke, Solveigh Hieronimus, Tomas Nauclér, Dickon Pinner, Godart van Gendt, Daan Walter, and Maaike Witteveen. McKinsey & Co. December 3, 2020.

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