The Green Industrial Revolution : lessons from the history of past energy transitions

The challenges associated with today’s green transition echo dynamics during past energy revolutions. Improvements in energy efficiency and sobriety can be part of a decarbonization strategy but with muted impact. An effective and credible climate policy must be chiefly targeted at accelerating a Green Industrial Revolution. Governments have many tools to do so, including taxation, regulation, public investment, and industrial policy. Cushioning blows to income and consumption of low-income households will be important in avoiding social backlash, slowing decarbonization