Based on the funds available, we aim at developing and encouraging a funded research project to investigate how much would it cost for the EU/Italy/single city to become net carbon neutral by 2030 instead of 2050.
In particular the study shall have the following objectives: (i) to define and estimate the costs needed to reduce to net zero all the anthropogenic greenhouse gas emissions (CO2, N2O, CH4, PFCs, HFCs, SF6, NF3) by 2030 in EU/Italy/single city; (ii) to assess the minor abatement costs of reducing such emissions to net zero by 2030 instead of 2050; and (iii) to assess the social advantages and benefits in terms of health, urban livelihood, job creation etc. due to the reduction of greenhouse gas emissions to net zero by 2030 instead of 2050.
In order to facilitate these studies we contacted BCG, Bocconi University and LifeGate.
A McKinsey’s study targeting 2050 highlights how the European Union could achieve climate neutrality at no cost by balancing costs with benefits. We are confident that the same principle can be applied even more so to 2030 target.