This Policy Forum will serve to discuss key findings of the new book “Planetary Economics. Energy, Climate Change and Three Domains of Sustainable Development” by Michael Grubb et al.The book presents a major synthesis of what we have learned from two decades of research and policy on energy and climate change, and the implications for what needs to change. Presenting this work, Prof Grubb will start from the question: how well do our common assumptions about the global challenges of energy, environment and economic development fit the facts? On the basis of the new framework set out in the book, the event will especially discuss the implications for Europe and European policy on climate change and energy in the aftermath of the EU Council meeting.