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


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…


0 0 votes
Article Rating

IMF cuts global growth outlook for 2022, US and China recovery wanes

Previous article

Biden and Putin’s Ukraine crisis gets personal with sanctions threat

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Energy