A new report by McKinsey looks at the economic impact of transitioning to net-zero emissions by 2050, assuming nine "system-level requirements" (like economic and societal adjustments) are met. The cost comes to about $275 trillion in this hypothetical scenario.
There’s some bad news:
“A disorderly transition could come with high economic costs as well as a backlash that delays the transition.”
And some good news:
“For all its short-term risks, the transition will also create rich new opportunities across sectors and geographies, for example in the form of new markets for low-emission products and support services.”
Climatiq Emission Tracking API is a great example of such low-carbon emission products we hope to see more of soon. The new API makes it easy for companies to embed and automate carbon measurements in their software. Maker Hessam Lavi shared that the team of makers wanted to do their part to help the climate crisis.
“The problem is that emissions and the activities that cause them are largely invisible to us. The picture is particularly muddy when it comes to the environmental impact of businesses. This includes messy scientific data and methodology, and a lack of simple and affordable tools. Crucial insights, therefore, remain inaccessible to non-experts…”
So in collaboration with the science and sustainability community, the makers created an open emission factor database (OEFDB) and an API that allows for computations of emissions in real-time.
Climatiq has a free plan you can start using. The team is looking for feedback and suggestions.
As the McKinsey report also notes, despite the costs of transitioning to net-zero, we can’t lose sight of the longer-term and physical risks of global warming. So better get moving.
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