The oil shock, the credit crunch and the near-collapse of global climate negotiations demand a radical rethink of current policies. Michael Grubb and his co-authors present a path to tackling climate change that can also enhance international and energy security, and help global financial and political adjustment to the rise of the emerging economies. Bringing together insights from contemporary development, management and behavioural sciences, the book develops a new planetary economics. As carbon becomes an increasingly limited and valuable global resource, it can also serve as an anchor point for adjusting global financial imbalances. This book shows that low carbon economies can have a long-run competitive advantage because of their higher efficiency and reduced exposure to oil instability. The key to making this transition lies in the integrated use of innovation policy, carbon pricing and consumer empowerment. The triad of interlinked solutions presented in this book can create a tipping point towards energy and climate security. A coalition of countries that spearhead this agenda will benefit most from it - the powerful combination of benefits it offers will make it impossible, ultimately, for any country to stand aside.