challenge this time is vast. This is because the goal
of the new transition is to promote the development of clean and renewable energy. To level the
playing field, the negative environmental effects
of fossil fuels, such as air pollution and carbon
emissions, compared to the positive environmental effects of clean energy, must be reflected in
economic decisions. Policy interventions are
Fig. 10 Carbon pricing is accelerating globally. Source World Bank, State and Trends of Carbon Pricing (2017)
8
X. Zhaoyuan and M. Ishwaran
of the new transition is to promote the development of clean and renewable energy. To level the
playing field, the negative environmental effects
of fossil fuels, such as air pollution and carbon
emissions, compared to the positive environmental effects of clean energy, must be reflected in
economic decisions. Policy interventions are
Fig. 10 Carbon pricing is accelerating globally. Source World Bank, State and Trends of Carbon Pricing (2017)
8
X. Zhaoyuan and M. Ishwaran