“Cities Need To Spend £15 Trillion On Greening Infrastructure”
In the May 23, 2010 issue of Greenwise Business, Booz & Company Partner Nick Pennell (Europe) said by investing heavily in energy efficient housing construction, low emission vehicle and logistics systems and “green ICT,” cities will be able to reduce CO2 emissions produced by urban infrastructure by up to 50 per cent. “This level of investment generates a realistic chance of actually limiting global warming through to 2050 to less than two degrees Celcius,” said Pennell, the leader of Booz & Company Low Carbon & Sustainability group and a co-author of a new study, “Reinventing The City–Three Prerequisites For Greening Urban Infrastructures.” Booz & Company’s joint study with the World Wildlife Fund Cities said that cities will need to spend £15 trillion on sustainable and green infrastructure over the next 30 years to prevent a disastrous increase in global warming. “Our calculations also show that investments in green ICT infrastructure generally produce a payback quickly and therefore barely result in any additional expense,” Pennell added.