This report reflects the author's research, opinion and conclusions, and not those of the UCL Energy Institute, which does not take positions on detailed issues such as those discussed here.
This report critically reviews various issues relating to the construction and interpretation of marginal abatement cost curves (MACC, or MAC curves) for reducing emissions of greenhouse gases, the most well-known and widely used of which have been compiled by McKinsey and Company. It also reveals various weaknesses related to the cost curves and points out their limited usefulness.