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Planetary Economics- Lectures and Presentations

Downloads

energy-transition-lectures-part-1-fundamentals_the-triads-of-energy-policy
energy-transition-lectures-part-2-electricity-tech-trends-and-uk-experience
energy-transition-lectures-part-3-policy-integration-valuing-conclusions

Upcoming Events
Seminar on �Global Climate Governance and New trends in China�s Low-carbon
Development� and the book launch for Planet Economics.

Date: July the 19th, 2017

Time: 14:00-17:00

Venue: Ruby Hall, Tangla Hotel, Beijing

Agenda
14:15-15:15 Key Note Speeches (Prof. Li Junfeng, Prof. Zou Ji, Prof. Qi
Shaozhou)

15:15-16:00 Planetary Economics speech, Prof. Michael Grubb

16:00-16:50 Comments (Prof. Fan Ying, Prof. Wu Libo, Prof. Qi Ye)

16:50-17:20 Open Discussion

Closing Speech: Prof. Pan Jiahua

Past Events
December 2016: Derived from a lecture tour in Australia, these slide packs present
a synthesis of key insights from the book Planetary Economics applied to the
challenges of and progress in transforming energy systems. The lectures included
extensive new material particularly relating to technology trends and the UK energy
system, with a particular focus on the UK Energy Market Reform and emerging
lessons. Covering material presented in half a dozen lectures across Canberra,
Melbourne, Adelaide and Sydney, the material is organised in three parts:

Fundamentals: The triads of energy policy � Covering the Energy Trilemma; the Three
Domains; the Three Pillars of Policy; evidence of constancy in relative energy
expenditure (�Bashmakov-Newbery constant�); evidence of weak innovation in energy
and energy-intensive sectors; links to macroeconomics; and the structural nature
of choice between �green� vs �brown� energy futures.
Electricity trends and the UK experience � Covering cost reductions in renewables;
cost variations illustrating the value of efficient financing derived from policy
certainty; a brief review of UK energy relating to Pillars I and III, and a more
detailed overview of the UK Energy Market Reform process and initial results,
including security
Policy integration, valuation and conclusions � Why no single policy pillar on its
own is ultimately credible or stable; relationships and synergies between the three
pillars; integrated policy packages; new approaches to carbon pricing;
conclusions on theory and practice of energy transition
Tuesday 20th of January, lecture: Planetary Economics: Energy, climate change and
the three domains of sustainable development;

Hosted by: The Global Environment & Society Academy in conjunction with School of
Geosciences, University of Edinburgh, at 18.00-20.00 Informatics Forum, Crichton
Street, Edinburgh

Thursday 6th November, lecture: Planetary Economics: Energy, climate change and the
three domains of sustainable development, London School of Economics, 6.00 pm

Friday 26th September, presentation to the high-level Warsaw conference on EU 2030

package, topic �Lessons from UK EMR�

Thursday 25th September, Copenhagen: Michael Grubb, Keynote talk at Global

Conference on Environmental Taxation, Aarhus University

USA and Mexico (15th-19th of June)

Tuesday 16th June, New York: Conference, International Association of Energy

Economics, presentation by Michael Grubb on the book�s numerical Appendix: �The
Importance of Adaptability and Inertia in Optimal Abatement Trajectories: A simple
Analytic model�

Wednesday 17th June, Mexico: Plenary presentation to Global Conference on Energy

Efficiency in Cities International Partnership for Energy Efficiency Cooperation
(www.ipeec.org): Michael Grubb, �The first pillar of energy policy: role of energy
efficiency in energy transition�

Friday 19th June, Washington, 3.00-4.30pm: Private meetings with scholars at

Brookings Institution and other research institutes.

Wednesday 17th September, Oxford: Keynote talk to the Annual Conference of the
British Institute of Energy Economists, http://www.biee.org/meeting

Share:
A selection of Climate Strategies' supporters and collaborators

Copyright � Climate Strategies. 2017 All Rights Reserved. Design by Hatchit

Climate Strategies
Climate Strategies twitter Climate Strategies linkedin Climate Strategies rss
+44 (0) 20 3196 6659
Home

About Us

Publications

Research

Climate Policy Journal

Events

Contact
Search
Planetary Economics- Lectures and Presentations

Downloads

energy-transition-lectures-part-1-fundamentals_the-triads-of-energy-policy
energy-transition-lectures-part-2-electricity-tech-trends-and-uk-experience
energy-transition-lectures-part-3-policy-integration-valuing-conclusions

Upcoming Events
Seminar on �Global Climate Governance and New trends in China�s Low-carbon
Development� and the book launch for Planet Economics.

Date: July the 19th, 2017

Time: 14:00-17:00

Venue: Ruby Hall, Tangla Hotel, Beijing

Agenda
14:15-15:15 Key Note Speeches (Prof. Li Junfeng, Prof. Zou Ji, Prof. Qi
Shaozhou)

15:15-16:00 Planetary Economics speech, Prof. Michael Grubb

16:00-16:50 Comments (Prof. Fan Ying, Prof. Wu Libo, Prof. Qi Ye)

16:50-17:20 Open Discussion

Closing Speech: Prof. Pan Jiahua

Past Events
December 2016: Derived from a lecture tour in Australia, these slide packs present
a synthesis of key insights from the book Planetary Economics applied to the
challenges of and progress in transforming energy systems. The lectures included
extensive new material particularly relating to technology trends and the UK energy
system, with a particular focus on the UK Energy Market Reform and emerging
lessons. Covering material presented in half a dozen lectures across Canberra,
Melbourne, Adelaide and Sydney, the material is organised in three parts:
Fundamentals: The triads of energy policy � Covering the Energy Trilemma; the Three
Domains; the Three Pillars of Policy; evidence of constancy in relative energy
expenditure (�Bashmakov-Newbery constant�); evidence of weak innovation in energy
and energy-intensive sectors; links to macroeconomics; and the structural nature
of choice between �green� vs �brown� energy futures.
Electricity trends and the UK experience � Covering cost reductions in renewables;
cost variations illustrating the value of efficient financing derived from policy
certainty; a brief review of UK energy relating to Pillars I and III, and a more
detailed overview of the UK Energy Market Reform process and initial results,
including security
Policy integration, valuation and conclusions � Why no single policy pillar on its
own is ultimately credible or stable; relationships and synergies between the three
pillars; integrated policy packages; new approaches to carbon pricing;
conclusions on theory and practice of energy transition
Tuesday 20th of January, lecture: Planetary Economics: Energy, climate change and
the three domains of sustainable development;

Hosted by: The Global Environment & Society Academy in conjunction with School of
Geosciences, University of Edinburgh, at 18.00-20.00 Informatics Forum, Crichton
Street, Edinburgh

Thursday 6th November, lecture: Planetary Economics: Energy, climate change and the
three domains of sustainable development, London School of Economics, 6.00 pm

Friday 26th September, presentation to the high-level Warsaw conference on EU 2030

package, topic �Lessons from UK EMR�

Thursday 25th September, Copenhagen: Michael Grubb, Keynote talk at Global

Conference on Environmental Taxation, Aarhus University

USA and Mexico (15th-19th of June)

Tuesday 16th June, New York: Conference, International Association of Energy

Economics, presentation by Michael Grubb on the book�s numerical Appendix: �The
Importance of Adaptability and Inertia in Optimal Abatement Trajectories: A simple
Analytic model�

Wednesday 17th June, Mexico: Plenary presentation to Global Conference on Energy

Efficiency in Cities International Partnership for Energy Efficiency Cooperation
(www.ipeec.org): Michael Grubb, �The first pillar of energy policy: role of energy
efficiency in energy transition�

Friday 19th June, Washington, 3.00-4.30pm: Private meetings with scholars at

Brookings Institution and other research institutes.

Wednesday 17th September, Oxford: Keynote talk to the Annual Conference of the
British Institute of Energy Economists, http://www.biee.org/meeting

Share:
A selection of Climate Strategies' supporters and collaborators

Copyright � Climate Strategies. 2017 All Rights Reserved. Design by Hatchit

ShareThis Copy and Paste +44 (0) 20 3196 6659 Home About Us Publications Research
Climate Policy Journal Events Contact Search Planetary Economics- Lectures and
Presentations Downloads energy-transition-lectures-part-1-fundamentals_the-triads-
of-energy-policy energy-transition-lectures-part-2-electricity-tech-trends-and-uk-
experience energy-transition-lectures-part-3-policy-integration-valuing-conclusions
Upcoming Events Seminar on �Global Climate Governance and New trends in China�s
Low-carbon Development� and the book launch for Planet Economics. Date: July the
19th, 2017 Time: 14:00-17:00 Venue: Ruby Hall, Tangla Hotel, Beijing Agenda 14:15-
15:15 Key Note Speeches (Prof. Li Junfeng, Prof. Zou Ji, Prof. Qi Shaozhou)
15:15-16:00 Planetary Economics speech, Prof. Michael Grubb 16:00-16:50
Comments (Prof. Fan Ying, Prof. Wu Libo, Prof. Qi Ye) 16:50-17:20 Open
Discussion Closing Speech: Prof. Pan Jiahua Past Events December 2016: Derived
from a lecture tour in Australia, these slide packs present a synthesis of key
insights from the book Planetary Economics applied to the challenges of and
progress in transforming energy systems. The lectures included extensive new
material particularly relating to technology trends and the UK energy system, with
a particular focus on the UK Energy Market Reform and emerging lessons. Covering
material presented in half a dozen lectures across Canberra, Melbourne, Adelaide
and Sydney, the material is organised in three parts: Fundamentals: The triads of
energy policy � Covering the Energy Trilemma; the Three Domains; the Three Pillars
of Policy; evidence of constancy in relative energy expenditure (�Bashmakov-Newbery
constant�); evidence of weak innovation in energy and energy-intensive sectors;
links to macroeconomics; and the structural nature of choice between �green� vs
�brown� energy futures. Electricity trends and the UK experience � Covering cost
reductions in renewables; cost variations illustrating the value of efficient
financing derived from policy certainty; a brief review of UK energy relating to
Pillars I and III, and a more detailed overview of the UK Energy Market Reform
process and initial results, including security Policy integration, valuation and
conclusions � Why no single policy pillar on its own is ultimately credible or
stable; relationships and synergies between the three pillars; integrated policy
packages; new approaches to carbon pricing; conclusions on theory and practice of
energy transition Tuesday 20th of January, lecture: Planetary Economics: Energy,
climate change and the three domains of sustainable development; Hosted by: The
Global Environment & Society Academy in conjunction with School of Geosciences,
University of Edinburgh, at 18.00-20.00 Informatics Forum, Crichton Street,
Edinburgh Thursday 6th November, lecture: Planetary Economics: Energy, climate
change and the three domains of sustainable development, London School of
Economics, 6.00 pm Friday 26th September, presentation to the high-level Warsaw
conference on EU 2030 package, topic �Lessons from UK EMR� Thursday 25th September,
Copenhagen: Michael Grubb, Keynote talk at Global Conference on Environmental
Taxation, Aarhus University USA and Mexico (15th-19th of June) Tuesday 16th June,
New York: Conference, International Association of Energy Economics, presentation
by Michael Grubb on the book�s numerical Appendix: �The Importance of Adaptability
and Inertia in Optimal Abatement Trajectories: A simple Analytic model� Wednesday
17th June, Mexico: Plenary presentation to Global Conference on Energy Efficiency
in Cities International Partnership for Energy Efficiency Cooperation
(www.ipeec.org): Michael Grubb, �The first pillar of energy policy: role of energy
efficiency in energy transition� Friday 19th June, Washington, 3.00-4.30pm: Private
meetings with scholars at Brookings Institution and other research institutes.
Wednesday 17th September, Oxford: Keynote talk to the Annual Conference of the
British Institute of Energy Economists, http://www.biee.org/meeting Share: A
selection of Climate Strategies' supporters and collaborators Copyright � Climate
Strategies. 2017 All Rights Reserved. Design by Hatchit +44 (0) 20 3196 6659 Home
About Us Publications Research Climate Policy Journal Events Contact Search
Planetary Economics- Lectures and Presentations Downloads energy-transition-
lectures-part-1-fundamentals_the-triads-of-energy-policy energy-transition-
lectures-part-2-electricity-tech-trends-and-uk-experience energy-transition-
lectures-part-3-policy-integration-valuing-conclusions Upcoming Events Seminar
on �Global Climate Governance and New trends in China�s Low-carbon Development�
and the book launch for Planet Economics. Date: July the 19th, 2017 Time: 14:00-
17:00 Venue: Ruby Hall, Tangla Hotel, Beijing Agenda 14:15-15:15 Key Note
Speeches (Prof. Li Junfeng, Prof. Zou Ji, Prof. Qi Shaozhou) 15:15-16:00
Planetary Economics speech, Prof. Michael Grubb 16:00-16:50 Comments (Prof.
Fan Ying, Prof. Wu Libo, Prof. Qi Ye) 16:50-17:20 Open Discussion Closing
Speech: Prof. Pan Jiahua Past Events December 2016: Derived from a lecture tour
in Australia, these slide packs present a synthesis of key insights from the book
Planetary Economics applied to the challenges of and progress in transforming
energy systems. The lectures included extensive new material particularly relating
to technology trends and the UK energy system, with a particular focus on the UK
Energy Market Reform and emerging lessons. Covering material presented in half a
dozen lectures across Canberra, Melbourne, Adelaide and Sydney, the material is
organised in three parts: Fundamentals: The triads of energy policy � Covering the
Energy Trilemma; the Three Domains; the Three Pillars of Policy; evidence of
constancy in relative energy expenditure (�Bashmakov-Newbery constant�); evidence
of weak innovation in energy and energy-intensive sectors; links to
macroeconomics; and the structural nature of choice between �green� vs �brown�
energy futures. Electricity trends and the UK experience � Covering cost
reductions in renewables; cost variations illustrating the value of efficient
financing derived from policy certainty; a brief review of UK energy relating to
Pillars I and III, and a more detailed overview of the UK Energy Market Reform
process and initial results, including security Policy integration, valuation and
conclusions � Why no single policy pillar on its own is ultimately credible or
stable; relationships and synergies between the three pillars; integrated policy
packages; new approaches to carbon pricing; conclusions on theory and practice of
energy transition Tuesday 20th of January, lecture: Planetary Economics: Energy,
climate change and the three domains of sustainable development; Hosted by: The
Global Environment & Society Academy in conjunction with School of Geosciences,
University of Edinburgh, at 18.00-20.00 Informatics Forum, Crichton Street,
Edinburgh Thursday 6th November, lecture: Planetary Economics: Energy, climate
change and the three domains of sustainable development, London School of
Economics, 6.00 pm Friday 26th September, presentation to the high-level Warsaw
conference on EU 2030 package, topic �Lessons from UK EMR� Thursday 25th September,
Copenhagen: Michael Grubb, Keynote talk at Global Conference on Environmental
Taxation, Aarhus University USA and Mexico (15th-19th of June) Tuesday 16th June,
New York: Conference, International Association of Energy Economics, presentation
by Michael Grubb on the book�s numerical Appendix: �The Importance of Adaptability
and Inertia in Optimal Abatement Trajectories: A simple Analytic model� Wednesday
17th June, Mexico: Plenary presentation to Global Conference on Energy Efficiency
in Cities International Partnership for Energy Efficiency Cooperation
(www.ipeec.org): Michael Grubb, �The first pillar of energy policy: role of energy
efficiency in energy transition� Friday 19th June, Washington, 3.00-4.30pm: Private
meetings with scholars at Brookings Institution and other research institutes.
Wednesday 17th September, Oxford: Keynote talk to the Annual Conference of the
British Institute of Energy Economists, http://www.biee.org/meeting Share: A
selection of Climate Strategies' supporters and collaborators Copyright � Climate
Strategies. 2017 All Rights Reserved. Design by Hatchit ShareThis Copy and Paste

Description
How well do our assumptions about the global challenges of energy, environment and
economic development fit the facts?

Energy prices have varied hugely between countries and over time, yet the share of
national income spent on energy has remained surprisingly constant. The
foundational theories of economic growth account for only about half the growth
observed in practice. Despite escalating warnings for more than two decades about
the planetary risks of rising greenhouse gas emissions, most governments have
seemed powerless to change course.

Planetary Economics shows the surprising links between these seemingly unconnected
facts. It argues that tackling the energy and environmental problems of the 21st
Century requires three different domains of decision-making to be recognised and
connected. Each domain involves different theoretical foundations, draws on
different areas of evidence, and implies different policies.

The book shows that the transformation of energy systems involves all three domains
- and each is equally important. From them flow three pillars of policy � three
quite distinct kinds of actions that need to be taken, which rest on fundamentally
different principles. Any pillar on its own will fail.

Only by understanding all three, and fitting them together, do we have any hope of
changing course. And if we do, the oft-assumed conflict between economy and the
environment dissolves � with potential for benefits to both. Planetary Economics
charts how.

Reviews
�Really comprehensive and interesting.
original view of how we might overcome
effective climate change policy around
Fellow of Kings College, Cambridge and
Economics
A profoundly important book - a genuinely
some of the most fundamental problems facing
the world today.� - Lord Anthony Giddens,
former Director of the London School of

�A seminal book that challenges conventional wisdom about growth, innovation and
climate policy. After reading it you understand why the tools that mainstream
economics has provided policymakers have been unequal to the task. In filling out
the picture, Planetary Economics contains a crucial practical message: the fact
that energy is at the core of the economic machine is both the challenge and the
opportunity, and three pillars of policy together are needed to steer it in safer
directions.� - Laurence Tubiana, Ambassador and Special Envoy for Climate Change,
France, and President, 21st UNFCCC Conference of Parties (COP21)

�Something interesting on every page� - Scott Barrett, Nature

�The book is compulsory reading for policymakers and academics for understanding
the broader challenges of environmental change. What makes the book such an
outstanding contribution is the way it brings together the fields of energy,
environment, innovation, behavioural economics and macroeconomics. Its key policy
message is a timely call for policymakers to act decisively, so that our societies
can have the confidence to invest and innovate in solving the great environmental
challenges of our time.� - Marcel Fratzscher, President, German Institute for
Economic Research

�This important book sets out a clear and comprehensive theory of how transition
can be achieved and a convincing and well evidenced argument that it will be, if
only we apply the policy tools and approaches available. Proposed policies for
building a low carbon economy often reflect very different ways of thinking:
economists favouring markets and carbon pricing, scientists and technologists a
vision of transformative innovation (fearing the short- term bias of markets and
cost benefit analysis), whilst some environmentalists seek to engage people's
enthusiasm to achieve changes in personal behaviour. Michael Grubb argues cogently
that a successful strategy must combine all three approaches, and illustrates their
respective roles and complementary nature.� - Lord Adair Turner, former Director-
General of Confederation of British Industry and Vice-Chairman of Merrill Lynch
Europe; from 2008-12, Chair of UK Financial Services Authority and UK Climate
Change Committee; currently Senior Fellow, Institute of New Economic Thought

�The defining features of climate change -- long-time horizons, global reach, and
uncertain but possibly catastrophic impacts � have stymied policymakers and
strained many of the standard tools of economics. In Planetary Economics, Grubb and
colleagues document and then tackle these characteristics head on. They organize
the debate, fill in gaps, and present a unified framework for thinking about the
problem, the best policy solutions, and how they need to fit together. This is an
important read for anyone looking for a sensible and comprehensive way forward.� -
Billy Pizer, Associate Professor of Public Policy at Duke University and former
Deputy Assistant Secretary for Environment and Energy, US Treasury

�Combines extraordinary breadth with depth, all written with exceptional clarity.
In explaining why energy and climate change take us beyond the traditional
boundaries of economics, it is a landmark study which should expand the horizons of
economics itself � as well as mapping out how, in doing so, we can solve some of
the most pressing problems of our time.� - Catherine Mitchell, Professor of Energy
Policy, Exeter University, UK

�An ambitious book that looks at nothing less than the future of human and
planetary well being. It is smart, provocative, and unconventional at every turn.
Grubb shows that the world�s energy and economic systems are on the wrong track.
Profoundly new thinking, including policies, will be needed to transform these
systems and put the planet on track to much lower and safer levels of global
warming pollution. The elements of that new thinking�such as smarter innovation
policies, cleaner energy networks, and better values�are all around us today.
Grubb�s big contribution is to stitch them together and chart a path for change.� -
David Victor, Professor, University of California San Diego

�Provides a fascinating integration of neoclassical, behavioural and innovation

economics, backed up with reams of evidence from the climate and energy literature.
The conclusions seem so obvious that, once presented, it is hard to understand why
they have not yet become the mainstream view of how to tackle climate change.� �
Paul Ekins, Professor, University College London, UK

�Michael Grubb has been a pioneer and innovative thinker in the field of climate
change. In this book Michael not only exposes his understanding of the science
underlying climate change but also the political realities which are clearly
responsible for what many perceive as the lack of progress in reaching an effective
global agreement. The author also explores and analyses the inertia that exists in
the energy systems of different countries in the world, and looks at barriers that
inhibit progress and opportunities by which the world can move ahead. This book,
therefore, is a rich compilation of research based insights and analysis which
would be a valuable resource for academics, government officials and the public at
large in understanding the current status of and future prospects for action in the
field of climate change.� - R K Pachauri, Director-General, The Energy and Resource
Institute, New Delhi

�A book of extraordinary scope and ambition that will challenge readers to think
more clearly and carefully about some of the biggest issues this planet and its
people face. Grubb has no ideological axe to grind and no particular allegiance to
one scholarly school or another � instead he draws on a range of theoretical frames
to shed as much light as possible on the dynamics governing our energy systems, all
with an eye toward figuring out how to steer them in a safer and more secure
direction. Anyone who works in this area will be provoked to think more wisely as a
result of reading this book.� - Michael Levi, Senior Fellow for Energy and the
Environment, US Council on Foreign Relations

�This is the work we've all been waiting for for years. Its unique perspective
combines deep academic insights with Grubb's experience of the worlds of government
and businesses .. the depth and saliency of the arguments and examples is
exemplary. A major intellectual and personal achievement.� - Simon Shackley,
University of Edinburgh, UKReviews
�Really comprehensive and interesting. A profoundly important book - a genuinely
original view of how we might overcome some of the most fundamental problems facing
effective climate change policy around the world today.� - Lord Anthony Giddens,
Fellow of Kings College, Cambridge and former Director of the London School of
Economics

�A seminal book that challenges conventional wisdom about growth, innovation and
climate policy. After reading it you understand why the tools that mainstream
economics has provided policymakers have been unequal to the task. In filling out
the picture, Planetary Economics contains a crucial practical message: the fact
that energy is at the core of the economic machine is both the challenge and the
opportunity, and three pillars of policy together are needed to steer it in safer
directions.� - Laurence Tubiana, Ambassador and Special Envoy for Climate Change,
France, and President, 21st UNFCCC Conference of Parties (COP21)

�Something interesting on every page� - Scott Barrett, Nature

�The book is compulsory reading for policymakers and academics for understanding
the broader challenges of environmental change. What makes the book such an
outstanding contribution is the way it brings together the fields of energy,
environment, innovation, behavioural economics and macroeconomics. Its key policy
message is a timely call for policymakers to act decisively, so that our societies
can have the confidence to invest and innovate in solving the great environmental
challenges of our time.� - Marcel Fratzscher, President, German Institute for
Economic Research

�This important book sets out a clear and comprehensive theory of how transition
can be achieved and a convincing and well evidenced argument that it will be, if
only we apply the policy tools and approaches available. Proposed policies for
building a low carbon economy often reflect very different ways of thinking:
economists favouring markets and carbon pricing, scientists and technologists a
vision of transformative innovation (fearing the short- term bias of markets and
cost benefit analysis), whilst some environmentalists seek to engage people's
enthusiasm to achieve changes in personal behaviour. Michael Grubb argues cogently
that a successful strategy must combine all three approaches, and illustrates their
respective roles and complementary nature.� - Lord Adair Turner, former Director-
General of Confederation of British Industry and Vice-Chairman of Merrill Lynch
Europe; from 2008-12, Chair of UK Financial Services Authority and UK Climate
Change Committee; currently Senior Fellow, Institute of New Economic Thought

�The defining features of climate change -- long-time horizons, global reach, and
uncertain but possibly catastrophic impacts � have stymied policymakers and
strained many of the standard tools of economics. In Planetary Economics, Grubb and
colleagues document and then tackle these characteristics head on. They organize
the debate, fill in gaps, and present a unified framework for thinking about the
problem, the best policy solutions, and how they need to fit together. This is an
important read for anyone looking for a sensible and comprehensive way forward.� -
Billy Pizer, Associate Professor of Public Policy at Duke University and former
Deputy Assistant Secretary for Environment and Energy, US Treasury

�Combines extraordinary breadth with depth, all written with exceptional clarity.
In explaining why energy and climate change take us beyond the traditional
boundaries of economics, it is a landmark study which should expand the horizons of
economics itself � as well as mapping out how, in doing so, we can solve some of
the most pressing problems of our time.� - Catherine Mitchell, Professor of Energy
Policy, Exeter University, UK

�An ambitious book that looks at nothing less than the future of human and
planetary well being. It is smart, provocative, and unconventional at every turn.
Grubb shows that the world�s energy and economic systems are on the wrong track.
Profoundly new thinking, including policies, will be needed to transform these
systems and put the planet on track to much lower and safer levels of global
warming pollution. The elements of that new thinking�such as smarter innovation
policies, cleaner energy networks, and better values�are all around us today.
Grubb�s big contribution is to stitch them together and chart a path for change.� -
David Victor, Professor, University of California San Diego

�Provides a fascinating integration of neoclassical, behavioural and innovation

economics, backed up with reams of evidence from the climate and energy literature.
The conclusions seem so obvious that, once presented, it is hard to understand why
they have not yet become the mainstream view of how to tackle climate change.� �
Paul Ekins, Professor, University College London, UK

�Michael Grubb has been a pioneer and innovative thinker in the field of climate
change. In this book Michael not only exposes his understanding of the science
underlying climate change but also the political realities which are clearly
responsible for what many perceive as the lack of progress in reaching an effective
global agreement. The author also explores and analyses the inertia that exists in
the energy systems of different countries in the world, and looks at barriers that
inhibit progress and opportunities by which the world can move ahead. This book,
therefore, is a rich compilation of research based insights and analysis which
would be a valuable resource for academics, government officials and the public at
large in understanding the current status of and future prospects for action in the
field of climate change.� - R K Pachauri, Director-General, The Energy and Resource
Institute, New Delhi

�A book of extraordinary scope and ambition that will challenge readers to think
more clearly and carefully about some of the biggest issues this planet and its
people face. Grubb has no ideological axe to grind and no particular allegiance to
one scholarly school or another � instead he draws on a range of theoretical frames
to shed as much light as possible on the dynamics governing our energy systems, all
with an eye toward figuring out how to steer them in a safer and more secure
direction. Anyone who works in this area will be provoked to think more wisely as a
result of reading this book.� - Michael Levi, Senior Fellow for Energy and the
Environment, US Council on Foreign Relations

�This is the work we've all been waiting for for years. Its unique perspective
combines deep academic insights with Grubb's experience of the worlds of government
and businesses .. the depth and saliency of the arguments and examples is
exemplary. A major intellectual and personal achievement.� - Simon Shackley,
University of Edinburgh, UKReviews
�Really comprehensive and interesting. A profoundly important book - a genuinely
original view of how we might overcome some of the most fundamental problems facing
effective climate change policy around the world today.� - Lord Anthony Giddens,
Fellow of Kings College, Cambridge and former Director of the London School of
Economics

�A seminal book that challenges conventional wisdom about growth, innovation and
climate policy. After reading it you understand why the tools that mainstream
economics has provided policymakers have been unequal to the task. In filling out
the picture, Planetary Economics contains a crucial practical message: the fact
that energy is at the core of the economic machine is both the challenge and the
opportunity, and three pillars of policy together are needed to steer it in safer
directions.� - Laurence Tubiana, Ambassador and Special Envoy for Climate Change,
France, and President, 21st UNFCCC Conference of Parties (COP21)

�Something interesting on every page� - Scott Barrett, Nature

�The book is compulsory reading for policymakers and academics for understanding
the broader challenges of environmental change. What makes the book such an
outstanding contribution is the way it brings together the fields of energy,
environment, innovation, behavioural economics and macroeconomics. Its key policy
message is a timely call for policymakers to act decisively, so that our societies
can have the confidence to invest and innovate in solving the great environmental
challenges of our time.� - Marcel Fratzscher, President, German Institute for
Economic Research

�This important book sets out a clear and comprehensive theory of how transition
can be achieved and a convincing and well evidenced argument that it will be, if
only we apply the policy tools and approaches available. Proposed policies for
building a low carbon economy often reflect very different ways of thinking:
economists favouring markets and carbon pricing, scientists and technologists a
vision of transformative innovation (fearing the short- term bias of markets and
cost benefit analysis), whilst some environmentalists seek to engage people's
enthusiasm to achieve changes in personal behaviour. Michael Grubb argues cogently
that a successful strategy must combine all three approaches, and illustrates their
respective roles and complementary nature.� - Lord Adair Turner, former Director-
General of Confederation of British Industry and Vice-Chairman of Merrill Lynch
Europe; from 2008-12, Chair of UK Financial Services Authority and UK Climate
Change Committee; currently Senior Fellow, Institute of New Economic Thought

�The defining features of climate change -- long-time horizons, global reach, and
uncertain but possibly catastrophic impacts � have stymied policymakers and
strained many of the standard tools of economics. In Planetary Economics, Grubb and
colleagues document and then tackle these characteristics head on. They organize
the debate, fill in gaps, and present a unified framework for thinking about the
problem, the best policy solutions, and how they need to fit together. This is an
important read for anyone looking for a sensible and comprehensive way forward.� -
Billy Pizer, Associate Professor of Public Policy at Duke University and former
Deputy Assistant Secretary for Environment and Energy, US Treasury

�Combines extraordinary breadth with depth, all written with exceptional clarity.
In explaining why energy and climate change take us beyond the traditional
boundaries of economics, it is a landmark study which should expand the horizons of
economics itself � as well as mapping out how, in doing so, we can solve some of
the most pressing problems of our time.� - Catherine Mitchell, Professor of Energy
Policy, Exeter University, UK

�An ambitious book that looks at nothing less than the future of human and
planetary well being. It is smart, provocative, and unconventional at every turn.
Grubb shows that the world�s energy and economic systems are on the wrong track.
Profoundly new thinking, including policies, will be needed to transform these
systems and put the planet on track to much lower and safer levels of global
warming pollution. The elements of that new thinking�such as smarter innovation
policies, cleaner energy networks, and better values�are all around us today.
Grubb�s big contribution is to stitch them together and chart a path for change.� -
David Victor, Professor, University of California San Diego

�Provides a fascinating integration of neoclassical, behavioural and innovation

economics, backed up with reams of evidence from the climate and energy literature.
The conclusions seem so obvious that, once presented, it is hard to understand why
they have not yet become the mainstream view of how to tackle climate change.� �
Paul Ekins, Professor, University College London, UK

�Michael Grubb has been a pioneer and innovative thinker in the field of climate
change. In this book Michael not only exposes his understanding of the science
underlying climate change but also the political realities which are clearly
responsible for what many perceive as the lack of progress in reaching an effective
global agreement. The author also explores and analyses the inertia that exists in
the energy systems of different countries in the world, and looks at barriers that
inhibit progress and opportunities by which the world can move ahead. This book,
therefore, is a rich compilation of research based insights and analysis which
would be a valuable resource for academics, government officials and the public at
large in understanding the current status of and future prospects for action in the
field of climate change.� - R K Pachauri, Director-General, The Energy and Resource
Institute, New Delhi

�A book of extraordinary scope and ambition that will challenge readers to think
more clearly and carefully about some of the biggest issues this planet and its
people face. Grubb has no ideological axe to grind and no particular allegiance to
one scholarly school or another � instead he draws on a range of theoretical frames
to shed as much light as possible on the dynamics governing our energy systems, all
with an eye toward figuring out how to steer them in a safer and more secure
direction. Anyone who works in this area will be provoked to think more wisely as a
result of reading this book.� - Michael Levi, Senior Fellow for Energy and the
Environment, US Council on Foreign Relations

�This is the work we've all been waiting for for years. Its unique perspective
combines deep academic insights with Grubb's experience of the worlds of government
and businesses .. the depth and saliency of the arguments and examples is
exemplary. A major intellectual and personal achievement.� - Simon Shackley,
University of Edinburgh, UKReviews
�Really comprehensive and interesting. A profoundly important book - a genuinely
original view of how we might overcome some of the most fundamental problems facing
effective climate change policy around the world today.� - Lord Anthony Giddens,
Fellow of Kings College, Cambridge and former Director of the London School of
Economics

�A seminal book that challenges conventional wisdom about growth, innovation and
climate policy. After reading it you understand why the tools that mainstream
economics has provided policymakers have been unequal to the task. In filling out
the picture, Planetary Economics contains a crucial practical message: the fact
that energy is at the core of the economic machine is both the challenge and the
opportunity, and three pillars of policy together are needed to steer it in safer
directions.� - Laurence Tubiana, Ambassador and Special Envoy for Climate Change,
France, and President, 21st UNFCCC Conference of Parties (COP21)

�Something interesting on every page� - Scott Barrett, Nature

�The book is compulsory reading for policymakers and academics for understanding
the broader challenges of environmental change. What makes the book such an
outstanding contribution is the way it brings together the fields of energy,
environment, innovation, behavioural economics and macroeconomics. Its key policy
message is a timely call for policymakers to act decisively, so that our societies
can have the confidence to invest and innovate in solving the great environmental
challenges of our time.� - Marcel Fratzscher, President, German Institute for
Economic Research

�This important book sets out a clear and comprehensive theory of how transition
can be achieved and a convincing and well evidenced argument that it will be, if
only we apply the policy tools and approaches available. Proposed policies for
building a low carbon economy often reflect very different ways of thinking:
economists favouring markets and carbon pricing, scientists and technologists a
vision of transformative innovation (fearing the short- term bias of markets and
cost benefit analysis), whilst some environmentalists seek to engage people's
enthusiasm to achieve changes in personal behaviour. Michael Grubb argues cogently
that a successful strategy must combine all three approaches, and illustrates their
respective roles and complementary nature.� - Lord Adair Turner, former Director-
General of Confederation of British Industry and Vice-Chairman of Merrill Lynch
Europe; from 2008-12, Chair of UK Financial Services Authority and UK Climate
Change Committee; currently Senior Fellow, Institute of New Economic Thought

�The defining features of climate change -- long-time horizons, global reach, and
uncertain but possibly catastrophic impacts � have stymied policymakers and
strained many of the standard tools of economics. In Planetary Economics, Grubb and
colleagues document and then tackle these characteristics head on. They organize
the debate, fill in gaps, and present a unified framework for thinking about the
problem, the best policy solutions, and how they need to fit together. This is an
important read for anyone looking for a sensible and comprehensive way forward.� -
Billy Pizer, Associate Professor of Public Policy at Duke University and former
Deputy Assistant Secretary for Environment and Energy, US Treasury

�Combines extraordinary breadth with depth, all written with exceptional clarity.
In explaining why energy and climate change take us beyond the traditional
boundaries of economics, it is a landmark study which should expand the horizons of
economics itself � as well as mapping out how, in doing so, we can solve some of
the most pressing problems of our time.� - Catherine Mitchell, Professor of Energy
Policy, Exeter University, UK

�An ambitious book that looks at nothing less than the future of human and
planetary well being. It is smart, provocative, and unconventional at every turn.
Grubb shows that the world�s energy and economic systems are on the wrong track.
Profoundly new thinking, including policies, will be needed to transform these
systems and put the planet on track to much lower and safer levels of global
warming pollution. The elements of that new thinking�such as smarter innovation
policies, cleaner energy networks, and better values�are all around us today.
Grubb�s big contribution is to stitch them together and chart a path for change.� -
David Victor, Professor, University of California San Diego

�Provides a fascinating integration of neoclassical, behavioural and innovation

economics, backed up with reams of evidence from the climate and energy literature.
The conclusions seem so obvious that, once presented, it is hard to understand why
they have not yet become the mainstream view of how to tackle climate change.� �
Paul Ekins, Professor, University College London, UK

�Michael Grubb has been a pioneer and innovative thinker in the field of climate
change. In this book Michael not only exposes his understanding of the science
underlying climate change but also the political realities which are clearly
responsible for what many perceive as the lack of progress in reaching an effective
global agreement. The author also explores and analyses the inertia that exists in
the energy systems of different countries in the world, and looks at barriers that
inhibit progress and opportunities by which the world can move ahead. This book,
therefore, is a rich compilation of research based insights and analysis which
would be a valuable resource for academics, government officials and the public at
large in understanding the current status of and future prospects for action in the
field of climate change.� - R K Pachauri, Director-General, The Energy and Resource
Institute, New Delhi

�A book of extraordinary scope and ambition that will challenge readers to think
more clearly and carefully about some of the biggest issues this planet and its
people face. Grubb has no ideological axe to grind and no particular allegiance to
one scholarly school or another � instead he draws on a range of theoretical frames
to shed as much light as possible on the dynamics governing our energy systems, all
with an eye toward figuring out how to steer them in a safer and more secure
direction. Anyone who works in this area will be provoked to think more wisely as a
result of reading this book.� - Michael Levi, Senior Fellow for Energy and the
Environment, US Council on Foreign Relations

�This is the work we've all been waiting for for years. Its unique perspective
combines deep academic insights with Grubb's experience of the worlds of government
and businesses .. the depth and saliency of the arguments and examples is
exemplary. A major intellectual and personal achievement.� - Simon Shackley,
University of Edinburgh, UKReviews
�Really comprehensive and interesting. A profoundly important book - a genuinely
original view of how we might overcome some of the most fundamental problems facing
effective climate change policy around the world today.� - Lord Anthony Giddens,
Fellow of Kings College, Cambridge and former Director of the London School of
Economics

�A seminal book that challenges conventional wisdom about growth, innovation and
climate policy. After reading it you understand why the tools that mainstream
economics has provided policymakers have been unequal to the task. In filling out
the picture, Planetary Economics contains a crucial practical message: the fact
that energy is at the core of the economic machine is both the challenge and the
opportunity, and three pillars of policy together are needed to steer it in safer
directions.� - Laurence Tubiana, Ambassador and Special Envoy for Climate Change,
France, and President, 21st UNFCCC Conference of Parties (COP21)

�Something interesting on every page� - Scott Barrett, Nature

�The book is compulsory reading for policymakers and academics for understanding
the broader challenges of environmental change. What makes the book such an
outstanding contribution is the way it brings together the fields of energy,
environment, innovation, behavioural economics and macroeconomics. Its key policy
message is a timely call for policymakers to act decisively, so that our societies
can have the confidence to invest and innovate in solving the great environmental
challenges of our time.� - Marcel Fratzscher, President, German Institute for
Economic Research

�This important book sets out a clear and comprehensive theory of how transition
can be achieved and a convincing and well evidenced argument that it will be, if
only we apply the policy tools and approaches available. Proposed policies for
building a low carbon economy often reflect very different ways of thinking:
economists favouring markets and carbon pricing, scientists and technologists a
vision of transformative innovation (fearing the short- term bias of markets and
cost benefit analysis), whilst some environmentalists seek to engage people's
enthusiasm to achieve changes in personal behaviour. Michael Grubb argues cogently
that a successful strategy must combine all three approaches, and illustrates their
respective roles and complementary nature.� - Lord Adair Turner, former Director-
General of Confederation of British Industry and Vice-Chairman of Merrill Lynch
Europe; from 2008-12, Chair of UK Financial Services Authority and UK Climate
Change Committee; currently Senior Fellow, Institute of New Economic Thought

�The defining features of climate change -- long-time horizons, global reach, and
uncertain but possibly catastrophic impacts � have stymied policymakers and
strained many of the standard tools of economics. In Planetary Economics, Grubb and
colleagues document and then tackle these characteristics head on. They organize
the debate, fill in gaps, and present a unified framework for thinking about the
problem, the best policy solutions, and how they need to fit together. This is an
important read for anyone looking for a sensible and comprehensive way forward.� -
Billy Pizer, Associate Professor of Public Policy at Duke University and former
Deputy Assistant Secretary for Environment and Energy, US Treasury

�Combines extraordinary breadth with depth, all written with exceptional clarity.
In explaining why energy and climate change take us beyond the traditional
boundaries of economics, it is a landmark study which should expand the horizons of
economics itself � as well as mapping out how, in doing so, we can solve some of
the most pressing problems of our time.� - Catherine Mitchell, Professor of Energy
Policy, Exeter University, UK

�An ambitious book that looks at nothing less than the future of human and
planetary well being. It is smart, provocative, and unconventional at every turn.
Grubb shows that the world�s energy and economic systems are on the wrong track.
Profoundly new thinking, including policies, will be needed to transform these
systems and put the planet on track to much lower and safer levels of global
warming pollution. The elements of that new thinking�such as smarter innovation
policies, cleaner energy networks, and better values�are all around us today.
Grubb�s big contribution is to stitch them together and chart a path for change.� -
David Victor, Professor, University of California San Diego

�Provides a fascinating integration of neoclassical, behavioural and innovation

economics, backed up with reams of evidence from the climate and energy literature.
The conclusions seem so obvious that, once presented, it is hard to understand why
they have not yet become the mainstream view of how to tackle climate change.� �
Paul Ekins, Professor, University College London, UK

�Michael Grubb has been a pioneer and innovative thinker in the field of climate
change. In this book Michael not only exposes his understanding of the science
underlying climate change but also the political realities which are clearly
responsible for what many perceive as the lack of progress in reaching an effective
global agreement. The author also explores and analyses the inertia that exists in
the energy systems of different countries in the world, and looks at barriers that
inhibit progress and opportunities by which the world can move ahead. This book,
therefore, is a rich compilation of research based insights and analysis which
would be a valuable resource for academics, government officials and the public at
large in understanding the current status of and future prospects for action in the
field of climate change.� - R K Pachauri, Director-General, The Energy and Resource
Institute, New Delhi

�A book of extraordinary scope and ambition that will challenge readers to think
more clearly and carefully about some of the biggest issues this planet and its
people face. Grubb has no ideological axe to grind and no particular allegiance to
one scholarly school or another � instead he draws on a range of theoretical frames
to shed as much light as possible on the dynamics governing our energy systems, all
with an eye toward figuring out how to steer them in a safer and more secure
direction. Anyone who works in this area will be provoked to think more wisely as a
result of reading this book.� - Michael Levi, Senior Fellow for Energy and the
Environment, US Council on Foreign Relations

�This is the work we've all been waiting for for years. Its unique perspective
combines deep academic insights with Grubb's experience of the worlds of government
and businesses .. the depth and saliency of the arguments and examples is
exemplary. A major intellectual and personal achievement.� - Simon Shackley,
University of Edinburgh, UKReviews
�Really comprehensive and interesting. A profoundly important book - a genuinely
original view of how we might overcome some of the most fundamental problems facing
effective climate change policy around the world today.� - Lord Anthony Giddens,
Fellow of Kings College, Cambridge and former Director of the London School of
Economics

�A seminal book that challenges conventional wisdom about growth, innovation and
climate policy. After reading it you understand why the tools that mainstream
economics has provided policymakers have been unequal to the task. In filling out
the picture, Planetary Economics contains a crucial practical message: the fact
that energy is at the core of the economic machine is both the challenge and the
opportunity, and three pillars of policy together are needed to steer it in safer
directions.� - Laurence Tubiana, Ambassador and Special Envoy for Climate Change,
France, and President, 21st UNFCCC Conference of Parties (COP21)

�Something interesting on every page� - Scott Barrett, Nature

�The book is compulsory reading for policymakers and academics for understanding
the broader challenges of environmental change. What makes the book such an
outstanding contribution is the way it brings together the fields of energy,
environment, innovation, behavioural economics and macroeconomics. Its key policy
message is a timely call for policymakers to act decisively, so that our societies
can have the confidence to invest and innovate in solving the great environmental
challenges of our time.� - Marcel Fratzscher, President, German Institute for
Economic Research

�This important book sets out a clear and comprehensive theory of how transition
can be achieved and a convincing and well evidenced argument that it will be, if
only we apply the policy tools and approaches available. Proposed policies for
building a low carbon economy often reflect very different ways of thinking:
economists favouring markets and carbon pricing, scientists and technologists a
vision of transformative innovation (fearing the short- term bias of markets and
cost benefit analysis), whilst some environmentalists seek to engage people's
enthusiasm to achieve changes in personal behaviour. Michael Grubb argues cogently
that a successful strategy must combine all three approaches, and illustrates their
respective roles and complementary nature.� - Lord Adair Turner, former Director-
General of Confederation of British Industry and Vice-Chairman of Merrill Lynch
Europe; from 2008-12, Chair of UK Financial Services Authority and UK Climate
Change Committee; currently Senior Fellow, Institute of New Economic Thought

�The defining features of climate change -- long-time horizons, global reach, and
uncertain but possibly catastrophic impacts � have stymied policymakers and
strained many of the standard tools of economics. In Planetary Economics, Grubb and
colleagues document and then tackle these characteristics head on. They organize
the debate, fill in gaps, and present a unified framework for thinking about the
problem, the best policy solutions, and how they need to fit together. This is an
important read for anyone looking for a sensible and comprehensive way forward.� -
Billy Pizer, Associate Professor of Public Policy at Duke University and former
Deputy Assistant Secretary for Environment and Energy, US Treasury

�Combines extraordinary breadth with depth, all written with exceptional clarity.
In explaining why energy and climate change take us beyond the traditional
boundaries of economics, it is a landmark study which should expand the horizons of
economics itself � as well as mapping out how, in doing so, we can solve some of
the most pressing problems of our time.� - Catherine Mitchell, Professor of Energy
Policy, Exeter University, UK

�An ambitious book that looks at nothing less than the future of human and
planetary well being. It is smart, provocative, and unconventional at every turn.
Grubb shows that the world�s energy and economic systems are on the wrong track.
Profoundly new thinking, including policies, will be needed to transform these
systems and put the planet on track to much lower and safer levels of global
warming pollution. The elements of that new thinking�such as smarter innovation
policies, cleaner energy networks, and better values�are all around us today.
Grubb�s big contribution is to stitch them together and chart a path for change.� -
David Victor, Professor, University of California San Diego

�Provides a fascinating integration of neoclassical, behavioural and innovation

economics, backed up with reams of evidence from the climate and energy literature.
The conclusions seem so obvious that, once presented, it is hard to understand why
they have not yet become the mainstream view of how to tackle climate change.� �
Paul Ekins, Professor, University College London, UK
�Michael Grubb has been a pioneer and innovative thinker in the field of climate
change. In this book Michael not only exposes his understanding of the science
underlying climate change but also the political realities which are clearly
responsible for what many perceive as the lack of progress in reaching an effective
global agreement. The author also explores and analyses the inertia that exists in
the energy systems of different countries in the world, and looks at barriers that
inhibit progress and opportunities by which the world can move ahead. This book,
therefore, is a rich compilation of research based insights and analysis which
would be a valuable resource for academics, government officials and the public at
large in understanding the current status of and future prospects for action in the
field of climate change.� - R K Pachauri, Director-General, The Energy and Resource
Institute, New Delhi

�A book of extraordinary scope and ambition that will challenge readers to think
more clearly and carefully about some of the biggest issues this planet and its
people face. Grubb has no ideological axe to grind and no particular allegiance to
one scholarly school or another � instead he draws on a range of theoretical frames
to shed as much light as possible on the dynamics governing our energy systems, all
with an eye toward figuring out how to steer them in a safer and more secure
direction. Anyone who works in this area will be provoked to think more wisely as a
result of reading this book.� - Michael Levi, Senior Fellow for Energy and the
Environment, US Council on Foreign Relations

�This is the work we've all been waiting for for years. Its unique perspective
combines deep academic insights with Grubb's experience of the worlds of government
and businesses .. the depth and saliency of the arguments and examples is
exemplary. A major intellectual and personal achievement.� - Simon Shackley,
University of Edinburgh, UKReviews
�Really comprehensive and interesting. A profoundly important book - a genuinely
original view of how we might overcome some of the most fundamental problems facing
effective climate change policy around the world today.� - Lord Anthony Giddens,
Fellow of Kings College, Cambridge and former Director of the London School of
Economics

�A seminal book that challenges conventional wisdom about growth, innovation and
climate policy. After reading it you understand why the tools that mainstream
economics has provided policymakers have been unequal to the task. In filling out
the picture, Planetary Economics contains a crucial practical message: the fact
that energy is at the core of the economic machine is both the challenge and the
opportunity, and three pillars of policy together are needed to steer it in safer
directions.� - Laurence Tubiana, Ambassador and Special Envoy for Climate Change,
France, and President, 21st UNFCCC Conference of Parties (COP21)

�Something interesting on every page� - Scott Barrett, Nature

�The book is compulsory reading for policymakers and academics for understanding
the broader challenges of environmental change. What makes the book such an
outstanding contribution is the way it brings together the fields of energy,
environment, innovation, behavioural economics and macroeconomics. Its key policy
message is a timely call for policymakers to act decisively, so that our societies
can have the confidence to invest and innovate in solving the great environmental
challenges of our time.� - Marcel Fratzscher, President, German Institute for
Economic Research

�This important book sets out a clear and comprehensive theory of how transition
can be achieved and a convincing and well evidenced argument that it will be, if
only we apply the policy tools and approaches available. Proposed policies for
building a low carbon economy often reflect very different ways of thinking:
economists favouring markets and carbon pricing, scientists and technologists a
vision of transformative innovation (fearing the short- term bias of markets and
cost benefit analysis), whilst some environmentalists seek to engage people's
enthusiasm to achieve changes in personal behaviour. Michael Grubb argues cogently
that a successful strategy must combine all three approaches, and illustrates their
respective roles and complementary nature.� - Lord Adair Turner, former Director-
General of Confederation of British Industry and Vice-Chairman of Merrill Lynch
Europe; from 2008-12, Chair of UK Financial Services Authority and UK Climate
Change Committee; currently Senior Fellow, Institute of New Economic Thought

�The defining features of climate change -- long-time horizons, global reach, and
uncertain but possibly catastrophic impacts � have stymied policymakers and
strained many of the standard tools of economics. In Planetary Economics, Grubb and
colleagues document and then tackle these characteristics head on. They organize
the debate, fill in gaps, and present a unified framework for thinking about the
problem, the best policy solutions, and how they need to fit together. This is an
important read for anyone looking for a sensible and comprehensive way forward.� -
Billy Pizer, Associate Professor of Public Policy at Duke University and former
Deputy Assistant Secretary for Environment and Energy, US Treasury

�Combines extraordinary breadth with depth, all written with exceptional clarity.
In explaining why energy and climate change take us beyond the traditional
boundaries of economics, it is a landmark study which should expand the horizons of
economics itself � as well as mapping out how, in doing so, we can solve some of
the most pressing problems of our time.� - Catherine Mitchell, Professor of Energy
Policy, Exeter University, UK

�An ambitious book that looks at nothing less than the future of human and
planetary well being. It is smart, provocative, and unconventional at every turn.
Grubb shows that the world�s energy and economic systems are on the wrong track.
Profoundly new thinking, including policies, will be needed to transform these
systems and put the planet on track to much lower and safer levels of global
warming pollution. The elements of that new thinking�such as smarter innovation
policies, cleaner energy networks, and better values�are all around us today.
Grubb�s big contribution is to stitch them together and chart a path for change.� -
David Victor, Professor, University of California San Diego

�Provides a fascinating integration of neoclassical, behavioural and innovation

economics, backed up with reams of evidence from the climate and energy literature.
The conclusions seem so obvious that, once presented, it is hard to understand why
they have not yet become the mainstream view of how to tackle climate change.� �
Paul Ekins, Professor, University College London, UK

�Michael Grubb has been a pioneer and innovative thinker in the field of climate
change. In this book Michael not only exposes his understanding of the science
underlying climate change but also the political realities which are clearly
responsible for what many perceive as the lack of progress in reaching an effective
global agreement. The author also explores and analyses the inertia that exists in
the energy systems of different countries in the world, and looks at barriers that
inhibit progress and opportunities by which the world can move ahead. This book,
therefore, is a rich compilation of research based insights and analysis which
would be a valuable resource for academics, government officials and the public at
large in understanding the current status of and future prospects for action in the
field of climate change.� - R K Pachauri, Director-General, The Energy and Resource
Institute, New Delhi

�A book of extraordinary scope and ambition that will challenge readers to think
more clearly and carefully about some of the biggest issues this planet and its
people face. Grubb has no ideological axe to grind and no particular allegiance to
one scholarly school or another � instead he draws on a range of theoretical frames
to shed as much light as possible on the dynamics governing our energy systems, all
with an eye toward figuring out how to steer them in a safer and more secure
direction. Anyone who works in this area will be provoked to think more wisely as a
result of reading this book.� - Michael Levi, Senior Fellow for Energy and the
Environment, US Council on Foreign Relations

�This is the work we've all been waiting for for years. Its unique perspective
combines deep academic insights with Grubb's experience of the worlds of government
and businesses .. the depth and saliency of the arguments and examples is
exemplary. A major intellectual and personal achievement.� - Simon Shackley,
University of Edinburgh, UKReviews
�Really comprehensive and interesting. A profoundly important book - a genuinely
original view of how we might overcome some of the most fundamental problems facing
effective climate change policy around the world today.� - Lord Anthony Giddens,
Fellow of Kings College, Cambridge and former Director of the London School of
Economics

�A seminal book that challenges conventional wisdom about growth, innovation and
climate policy. After reading it you understand why the tools that mainstream
economics has provided policymakers have been unequal to the task. In filling out
the picture, Planetary Economics contains a crucial practical message: the fact
that energy is at the core of the economic machine is both the challenge and the
opportunity, and three pillars of policy together are needed to steer it in safer
directions.� - Laurence Tubiana, Ambassador and Special Envoy for Climate Change,
France, and President, 21st UNFCCC Conference of Parties (COP21)

�Something interesting on every page� - Scott Barrett, Nature

�The book is compulsory reading for policymakers and academics for understanding
the broader challenges of environmental change. What makes the book such an
outstanding contribution is the way it brings together the fields of energy,
environment, innovation, behavioural economics and macroeconomics. Its key policy
message is a timely call for policymakers to act decisively, so that our societies
can have the confidence to invest and innovate in solving the great environmental
challenges of our time.� - Marcel Fratzscher, President, German Institute for
Economic Research

�This important book sets out a clear and comprehensive theory of how transition
can be achieved and a convincing and well evidenced argument that it will be, if
only we apply the policy tools and approaches available. Proposed policies for
building a low carbon economy often reflect very different ways of thinking:
economists favouring markets and carbon pricing, scientists and technologists a
vision of transformative innovation (fearing the short- term bias of markets and
cost benefit analysis), whilst some environmentalists seek to engage people's
enthusiasm to achieve changes in personal behaviour. Michael Grubb argues cogently
that a successful strategy must combine all three approaches, and illustrates their
respective roles and complementary nature.� - Lord Adair Turner, former Director-
General of Confederation of British Industry and Vice-Chairman of Merrill Lynch
Europe; from 2008-12, Chair of UK Financial Services Authority and UK Climate
Change Committee; currently Senior Fellow, Institute of New Economic Thought

�The defining features of climate change -- long-time horizons, global reach, and
uncertain but possibly catastrophic impacts � have stymied policymakers and
strained many of the standard tools of economics. In Planetary Economics, Grubb and
colleagues document and then tackle these characteristics head on. They organize
the debate, fill in gaps, and present a unified framework for thinking about the
problem, the best policy solutions, and how they need to fit together. This is an
important read for anyone looking for a sensible and comprehensive way forward.� -
Billy Pizer, Associate Professor of Public Policy at Duke University and former
Deputy Assistant Secretary for Environment and Energy, US Treasury

�Combines extraordinary breadth with depth, all written with exceptional clarity.
In explaining why energy and climate change take us beyond the traditional
boundaries of economics, it is a landmark study which should expand the horizons of
economics itself � as well as mapping out how, in doing so, we can solve some of
the most pressing problems of our time.� - Catherine Mitchell, Professor of Energy
Policy, Exeter University, UK

�An ambitious book that looks at nothing less than the future of human and
planetary well being. It is smart, provocative, and unconventional at every turn.
Grubb shows that the world�s energy and economic systems are on the wrong track.
Profoundly new thinking, including policies, will be needed to transform these
systems and put the planet on track to much lower and safer levels of global
warming pollution. The elements of that new thinking�such as smarter innovation
policies, cleaner energy networks, and better values�are all around us today.
Grubb�s big contribution is to stitch them together and chart a path for change.� -
David Victor, Professor, University of California San Diego

�Provides a fascinating integration of neoclassical, behavioural and innovation

economics, backed up with reams of evidence from the climate and energy literature.
The conclusions seem so obvious that, once presented, it is hard to understand why
they have not yet become the mainstream view of how to tackle climate change.� �
Paul Ekins, Professor, University College London, UK

�Michael Grubb has been a pioneer and innovative thinker in the field of climate
change. In this book Michael not only exposes his understanding of the science
underlying climate change but also the political realities which are clearly
responsible for what many perceive as the lack of progress in reaching an effective
global agreement. The author also explores and analyses the inertia that exists in
the energy systems of different countries in the world, and looks at barriers that
inhibit progress and opportunities by which the world can move ahead. This book,
therefore, is a rich compilation of research based insights and analysis which
would be a valuable resource for academics, government officials and the public at
large in understanding the current status of and future prospects for action in the
field of climate change.� - R K Pachauri, Director-General, The Energy and Resource
Institute, New Delhi

�A book of extraordinary scope and ambition that will challenge readers to think
more clearly and carefully about some of the biggest issues this planet and its
people face. Grubb has no ideological axe to grind and no particular allegiance to
one scholarly school or another � instead he draws on a range of theoretical frames
to shed as much light as possible on the dynamics governing our energy systems, all
with an eye toward figuring out how to steer them in a safer and more secure
direction. Anyone who works in this area will be provoked to think more wisely as a
result of reading this book.� - Michael Levi, Senior Fellow for Energy and the
Environment, US Council on Foreign Relations

�This is the work we've all been waiting for for years. Its unique perspective
combines deep academic insights with Grubb's experience of the worlds of government
and businesses .. the depth and saliency of the arguments and examples is
exemplary. A major intellectual and personal achievement.� - Simon Shackley,
University of Edinburgh, UK