This open access book introduces a novel Carbon Emission Responsibility Mechanism (CELM) and a global Carbon Integration Pricing Mechanism, based on a comprehensive analysis of the evolution of economic theory related to global climate change and the practice of carbon pricing instruments over the past 30 years. It further outlines a top-level design and implementation plan for achieving global carbon neutrality based on CELM.

For the first time, the CELM mechanism effectively addresses the three fundamental questions regarding carbon emissions: who should be liable for carbon emission, how much liability, and how to offset it.

The introduction of CELM has unveiled a genuinely viable third path towards global carbon neutrality, effectively addressing numerous challenges of carbon tax and ETS in the international arena. This includes a precise, efficient and cost-effective establishment of a comprehensive societal carbon footprint database, as well as adeptly tacking the issue of international carbon border regulation mechanism. CELM's global carbon neutral solution stands out as fairer, more efficient and less expensive, heralding positive news for the international community in its efforts to comprehensively tackle the climate crisis.