Energy economics and climate policy modeling

Climate change is one of the biggest medium to long term risks to global development, both in developing and developed countries, and it is predicted to have severe consequences across such sectors as ecosystems, agriculture, industry, commerce, residences, and transportation. The threat of global climate change has originated largely from the greenhouse gas emissions of developed countries, who have been emitting far more per capita than developing countries over the last two centuries. Therefore, developed countries are obliged to take the lead in fighting climate change. However developing countries, especially emerging economies like China, also face tremendous pressure on the limited remaining space for atmospheric carbon dioxide. The processes of economic growth and social development must be rendered more resilient to climate change. Developed countries have to reduce their emissions, and developing countries need to find a low carbon path to rapid growth that is different from the energy intensive and carbon intensive path of early growth in developed countries. All must avoid needless local and regional environmental damage, capture innovative sources of sustainable development, and take advantage of emerging energy technologies and climate financing opportunities, so as to build up a low carbon economy and a climate resilient society.