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McKinsey calculates capital spending required to reach net-zero by 2050

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A wind farm shares space with corn fields in Latimer, Iowa, U.S.

Jonathan Ernst | Reuters

As the world grapples with a worsening climate change crisis, governments and companies are pledging to achieve net-zero greenhouse emissions by 2050 — a goal that will require an extra $3.5 trillion a year in capital spending, according to estimates from a McKinsey & Company report released on Tuesday.

That amount is the equivalent of half of global corporate profits, one-quarter of total tax revenue, or 7% of household spending in 2020.

“The net-zero transition will amount to a massive economic transformation,” said Mekala Krishnan, a partner at the McKinsey Global Institute and the lead author of…



Source cnbc.com

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