It’s sour grapes for sure, but since they dinged me when I was interviewing with them during school, I’ve always distrusted those braniacs at McKinsey.
Nevertheless, Diana Farrell at McKinsey’s Global Institute recently listed the five most important things, (in their opinion) which which will help stave off a climate disaster, under the title, “A Simple Plan to Cut Energy Demand Growth and Carbon Emissions.”
According to Ms. Farrell, “it starts with China.” She lists the following:
1. Make Chinese manufacturing more efficient.
2. Make Chinese energy plants more efficient.
3 .Make Chinese buildings more efficient.
Simple! Once we fix China, then we move on to the rest of the world….
5. Reduce fuel subsidies.
“Reduce fuel subsidies that shield consumers from the true price of energy they use—and therefore encourage over consumption. We estimate that reducing fuel subsidies by 80% globally (largely in the Middle East, Venezuela, and Mexico) would reduce global demand for road transportation fuel by 5% of the global sector’s demand in 2020.”
Needless to say, all of the prescriptions listed above will require concerted effort by governments working together. So don’t forget to contact your representatives in government.
You may have noticed I skipped number 4, because you can actually do something about that one. Here’s what it is…
4. Make U.S. homes more efficient.
U.S. homes are the biggest consumers of energy in the world, and “if the energy efficiency of all U.S. households were to increase to the levels of California or Europe, global residential energy demand in 2020 could decline by more than a third—the equivalent of nearly 4 million barrels of oil a day.”
So don’t forget to think about your house, and how you can cut your energy consumption. In case you’re out of ideas, we have some ideas listed here!