Abstract
International cooperation to address climate change now stands at a crossroads. With a new international regime for emissions reduction established by the Durban Platform, “New Climate Economics (NCE)” has become a research hotspot. The need for urgent action to combat climate change has prompted discussion on reforms of economic growth patterns and the energy system. The industrial civilization, therefore, now faces a transition towards a new pathway for ecological sustainability. NCE explores new economic concepts, theories, and analytical methods to design a balanced pathway for sustainable growth and emission reduction. Instead of getting trapped in discussions on allocation of emission reduction responsibilities and obligations among countries, NCE pays more attention to developing win-win multilateral cooperation mechanisms that facilitate collaborative R&D and knowledge sharing. In addition, NCE studies incentives for low-carbon transition, turning carbon emission reduction into a domestic need for...
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