The answer to this varies widely on how much reduction you are talking about, and how soon. Economic modeling of climate change is extremely complicated and many different models give many different answers. In general, any significant reduction will cost many billions if not trillions. Interestingly, some think that it will actually cost more to NOT reduce climate change, since it is poised to do so much ecological and environmental damage. Take a look at the Stern Report if you are interested, though the wiki page is a lot more manageable.
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