Australian Greens climate change spokesperson, Senator Christine Milne, today warmly welcomed a report from McKinsey showing that 30% emissions reductions by 2020 can be achieved at low cost, and called for a similar examination of the even deeper cuts that current science demands.

Senator Milne said "The McKinsey report should end the defeatist claim that serious emissions reductions will ruin the economy. That claim, which was always based on prejudice rather than evidence, now has no leg to stand on.

"McKinsey make it clear that large emissions reductions can be achieved for very little cost, including a great array of abatement options that save money. Perhaps more importantly, they set this cost against the far larger economic growth, showing how small a sacrifice we need to make.

"The report puts a cost of $290 per household by 2020, over which time household income will be $20,000 higher. Householders will be able to make deeper cuts and achieve greater savings with behavioural changes such as cycling, walking and taking shorter showers, which were not included in this study.

"With such low cost, surely we can afford even deeper cuts, giving us an even better chance of avoiding catastrophic climate chance. Indeed, it would be utterly irresponsible not to reach out for them.

"What we need now is further studies looking at deeper, faster cuts, in recognition of that fact that climate science, climate impacts and emissions trajectories are all moving faster than anyone had expected.

"It is particularly important to note the report's analysis that avoiding deforestation in Australia is a 'large, immediate and perishable opportunity to reduce emissions'. In other words, unless we act fast to stop logging old growth and native forests, we will lose forever the option of saving these huge carbon stores.

"I have every confidence that, given the right incentives, we will find even more and cheaper options for emissions reductions than these authors have found. In particular, concentrating solar thermal power has great potential that is not included here.

"McKinsey should be congratulated for this work that ABARE and the Treasury should have done years ago."