McKinsey has worked with leading institutions over the last 3 years to develop an understanding of the costs and potential of the options for reducing greenhouse gas emissions at both a global and regional level. This report takes a deeper look at one of these options, CO2 capture and storage (CCS).

This paper uses annual variation in temperature and precipitation over the past 50 years to examine the impact of climatic changes on economic activity throughout the world. It find three primary results. First, higher temperatures substantially reduce economic growth in poor countries but have little effect in rich countries.

Effort to develop a mandatory climate policy is accelerating and it seems likely that a national market-based strategy for dealing with climate change is on the near term horizon.

The Garnaut Climate Change Review was required to examine the impacts of climate change on the Australian economy, and to recommend medium- to long-term policies and policy frameworks to improve the prospects of sustainable prosperity. This draft report describes the methodology that the Review is applying to the: evaluation of the costs and benefits of climate change mitigation; application of the science of climate change to Australia; international context of Australian mitigation, and Australian mitigation policy.