Catherine Wolfram
@cwolfram.bsky.social
Climate and energy economist at MIT Sloan. Former DAS at Yellen Treasury.
Pinned
Catherine Wolfram
@cwolfram.bsky.social
· Sep 16
ceepr.link
I'm delighted to announce the release of the Flagship Report of the Global Climate Policy Project at Harvard and MIT Working Group on Climate Coalitions on "Building a Climate Coalition: Aligning Carbon Pricing, Trade, and Development."
ceepr.link/3VmgC7g
A 🧵 on what we do/find:
ceepr.link/3VmgC7g
A 🧵 on what we do/find:
The EU and China both endorse the Open Coalition - that's huge.
Carbon pricing is one of our best assets for the climate.
Over 80 countries now have a carbon price.
Today we launch the Open Coalition on Compliance Carbon Market.
Together with Brazil and other partners, let’s do it right, and let’s do it together.
Over 80 countries now have a carbon price.
Today we launch the Open Coalition on Compliance Carbon Market.
Together with Brazil and other partners, let’s do it right, and let’s do it together.
November 9, 2025 at 2:19 PM
The EU and China both endorse the Open Coalition - that's huge.
"EU, China Said to Join Brazil-Led Carbon Market Coalition"
So, so thrilled to see this come together! Huge congrats to Cristina Reis (MofF, Brazil) and her team for getting it done and lining up so many of the important countries.
Why is this important? A 🧵
www.bloomberg.com/news/article...
So, so thrilled to see this come together! Huge congrats to Cristina Reis (MofF, Brazil) and her team for getting it done and lining up so many of the important countries.
Why is this important? A 🧵
www.bloomberg.com/news/article...
EU, China Said to Join Brazil-Led Carbon Market Coalition
The European Union and China agreed to join Brazil in a coalition aimed at improving collaboration on carbon markets — one of the main innovations the South American nation is bringing to the COP30 cl...
www.bloomberg.com
November 8, 2025 at 2:20 PM
"EU, China Said to Join Brazil-Led Carbon Market Coalition"
So, so thrilled to see this come together! Huge congrats to Cristina Reis (MofF, Brazil) and her team for getting it done and lining up so many of the important countries.
Why is this important? A 🧵
www.bloomberg.com/news/article...
So, so thrilled to see this come together! Huge congrats to Cristina Reis (MofF, Brazil) and her team for getting it done and lining up so many of the important countries.
Why is this important? A 🧵
www.bloomberg.com/news/article...
So fun to work on this with @brookings.edu.
The podcast version of our BPEA paper on “Who bears the burden of climate inaction?” (thread below, with @cwolfram.bsky.social and @knittelmit.bsky.social) just dropped .
www.brookings.edu/articles/how...
www.brookings.edu/articles/how...
October 23, 2025 at 3:56 PM
So fun to work on this with @brookings.edu.
Nice coverage of Brazil's push "to create a coalition of nations that would charge domestic manufacturers for carbon emissions and tax some imports from countries not in the coalition." And it's formidable leader Cristina Reis!
#COP30
subscriber.politicopro.com/article/eene...
#COP30
subscriber.politicopro.com/article/eene...
E&E News: Brazil to push for global coalition of countries with carbon fees
South America's largest nation named a respected figure to run its carbon market as it prepares to host international climate talks in November.
subscriber.politicopro.com
October 20, 2025 at 8:25 PM
Nice coverage of Brazil's push "to create a coalition of nations that would charge domestic manufacturers for carbon emissions and tax some imports from countries not in the coalition." And it's formidable leader Cristina Reis!
#COP30
subscriber.politicopro.com/article/eene...
#COP30
subscriber.politicopro.com/article/eene...
Really fun listen. My only minor complaint is that they describe the amassing of the shadow fleet as an "unintended consequence," suggesting that policymakers didn't expect it. I know for a fact that's not the case!
Maybe economists should replace "unintended" with "unavoidable" (Greek shippers?)
Maybe economists should replace "unintended" with "unavoidable" (Greek shippers?)
When Russia invaded Ukraine, western countries sanctioned Russian oil. But Russian oil exporters quickly sailed around them, building a shadow fleet of rickety oil tankers to move that sanctioned oil around the world.
www.npr.org
October 18, 2025 at 8:29 PM
Really fun listen. My only minor complaint is that they describe the amassing of the shadow fleet as an "unintended consequence," suggesting that policymakers didn't expect it. I know for a fact that's not the case!
Maybe economists should replace "unintended" with "unavoidable" (Greek shippers?)
Maybe economists should replace "unintended" with "unavoidable" (Greek shippers?)
Oil prices in Asian trading are up a bit on these reports, but maybe the market is flush enough to absorb some shut in of Russian oil?
oilprice.com/Latest-Energ...
oilprice.com/Latest-Energ...
October 16, 2025 at 1:52 AM
Oil prices in Asian trading are up a bit on these reports, but maybe the market is flush enough to absorb some shut in of Russian oil?
oilprice.com/Latest-Energ...
oilprice.com/Latest-Energ...
Curious to hear from others who subscribe to Carbon Pulse. I see a fair number of headlines I’d like to click through to, like the one below, but the subscription price is steep!
Worth it?
#climatesky
Worth it?
#climatesky
October 6, 2025 at 4:22 PM
Curious to hear from others who subscribe to Carbon Pulse. I see a fair number of headlines I’d like to click through to, like the one below, but the subscription price is steep!
Worth it?
#climatesky
Worth it?
#climatesky
This is described as an "exemption" but since the UK and EU plan to align carbon markets so that UK and EU firms will pay the same price that's not quite right. It's instead aligned w the EU intent to credit domestic prices already paid. More a mini coalition!
www.theguardian.com/politics/202...
www.theguardian.com/politics/202...
UK and EU poised to strike deal sparing British business from carbon border tax
Exclusive: Temporary deal to shield UK exporters from levy’s impact is now viewed by both sides as likely
www.theguardian.com
October 3, 2025 at 9:27 PM
This is described as an "exemption" but since the UK and EU plan to align carbon markets so that UK and EU firms will pay the same price that's not quite right. It's instead aligned w the EU intent to credit domestic prices already paid. More a mini coalition!
www.theguardian.com/politics/202...
www.theguardian.com/politics/202...
Two points counter the top-line narrative in this piece:
1. Work by @constanzaabuin.bsky.social suggests that exporting more Canadian LNG can lower GHG emissions abroad, at least in the short run
2. The coming "climate competitiveness strategy” could be a #CBAM?!?
www.wsj.com/world/americ...
1. Work by @constanzaabuin.bsky.social suggests that exporting more Canadian LNG can lower GHG emissions abroad, at least in the short run
2. The coming "climate competitiveness strategy” could be a #CBAM?!?
www.wsj.com/world/americ...
Mark Carney’s Shift From Climate-Change Warrior to Fossil-Fuel Cheerleader
Canada’s prime minister has scrapped green policies and pledged to transform the country ”into an energy superpower.”
www.wsj.com
October 2, 2025 at 6:43 PM
Two points counter the top-line narrative in this piece:
1. Work by @constanzaabuin.bsky.social suggests that exporting more Canadian LNG can lower GHG emissions abroad, at least in the short run
2. The coming "climate competitiveness strategy” could be a #CBAM?!?
www.wsj.com/world/americ...
1. Work by @constanzaabuin.bsky.social suggests that exporting more Canadian LNG can lower GHG emissions abroad, at least in the short run
2. The coming "climate competitiveness strategy” could be a #CBAM?!?
www.wsj.com/world/americ...
Thanks to @kclausing.bsky.social for the great thread on our BPEA paper with @knittelmit.bsky.social!
Bottom line: US households experience climate change primarily through wildfires and storms more than heat.
Bottom line: US households experience climate change primarily through wildfires and storms more than heat.
🧵 (1/7) With @knittelmit.bsky.social and @cwolfram.bsky.social, happy to announce our new paper on “Who Bears the Burden of Climate Inaction?”, just posted for BPEA @brookings.edu.
We find large climate cost impacts that vary by both geography and income.
www.brookings.edu/articles/who...
We find large climate cost impacts that vary by both geography and income.
www.brookings.edu/articles/who...
September 25, 2025 at 2:50 PM
Thanks to @kclausing.bsky.social for the great thread on our BPEA paper with @knittelmit.bsky.social!
Bottom line: US households experience climate change primarily through wildfires and storms more than heat.
Bottom line: US households experience climate change primarily through wildfires and storms more than heat.
U.N. General Assembly Updates: China, for First Time, Vows to Reduce Greenhouse Gas Emissions www.nytimes.com/live/2025/09...
U.N. General Assembly Updates: China, for First Time, Vows to Reduce Greenhouse Gas Emissions
www.nytimes.com
September 24, 2025 at 9:48 PM
U.N. General Assembly Updates: China, for First Time, Vows to Reduce Greenhouse Gas Emissions www.nytimes.com/live/2025/09...
"The EU and China have expressed interest in joining the agreement, which may make it one of the most significant outcomes of the November summit..." Let's hope!!
www.bloomberg.com/news/article...
www.bloomberg.com/news/article...
Brazil Lobbies EU, China to Join COP30 Carbon Market Coalition
Brazil is trying to build a coalition of countries, including the European Union and China, to unify carbon markets globally as it prepares to host this year’s COP30 climate summit.
www.bloomberg.com
September 24, 2025 at 12:31 PM
"The EU and China have expressed interest in joining the agreement, which may make it one of the most significant outcomes of the November summit..." Let's hope!!
www.bloomberg.com/news/article...
www.bloomberg.com/news/article...
NYT piece on Russia's shadow fleet frustratingly treats the build up of the fleet as an inevitable response to the price cap. That's not at all the case. The EU could have prohibited oil tanker sales to Russia, but for (I've heard) the desires of the Greek shippers.
www.nytimes.com/2025/09/20/w...
www.nytimes.com/2025/09/20/w...
How Russia’s Sanctions Evasion Could Create Lasting Costs
www.nytimes.com
September 21, 2025 at 3:31 PM
NYT piece on Russia's shadow fleet frustratingly treats the build up of the fleet as an inevitable response to the price cap. That's not at all the case. The EU could have prohibited oil tanker sales to Russia, but for (I've heard) the desires of the Greek shippers.
www.nytimes.com/2025/09/20/w...
www.nytimes.com/2025/09/20/w...
New bipartisan Senate bill targets Russia's shadow fleet used to evade oil price cap.
on.ft.com/46whsmY
on.ft.com/46whsmY
US senators seek to raise pressure on Russia with ‘shadow fleet’ sanctions
Bipartisan lawmakers set out punitive measures as Donald Trump’s efforts to negotiate end to Ukraine war stall
on.ft.com
September 20, 2025 at 7:45 PM
New bipartisan Senate bill targets Russia's shadow fleet used to evade oil price cap.
on.ft.com/46whsmY
on.ft.com/46whsmY
I'm delighted to announce the release of the Flagship Report of the Global Climate Policy Project at Harvard and MIT Working Group on Climate Coalitions on "Building a Climate Coalition: Aligning Carbon Pricing, Trade, and Development."
ceepr.link/3VmgC7g
A 🧵 on what we do/find:
ceepr.link/3VmgC7g
A 🧵 on what we do/find:
ceepr.link
September 16, 2025 at 9:20 PM
I'm delighted to announce the release of the Flagship Report of the Global Climate Policy Project at Harvard and MIT Working Group on Climate Coalitions on "Building a Climate Coalition: Aligning Carbon Pricing, Trade, and Development."
ceepr.link/3VmgC7g
A 🧵 on what we do/find:
ceepr.link/3VmgC7g
A 🧵 on what we do/find:
Interesting. This would presumably make it harder for the Democrats to pursue @ezrakleinbot.bsky.social's strategy to use gov't funding to extract concessions on domestic issues.
www.politico.com/news/magazin...
www.politico.com/news/magazin...
GOP Russia Hawks Have a New Plan to Outmaneuver Isolationists
Sen. Lindsey Graham wants to tie sanctions against Russia to the coming bill to fund the federal government.
www.politico.com
September 14, 2025 at 5:01 PM
Interesting. This would presumably make it harder for the Democrats to pursue @ezrakleinbot.bsky.social's strategy to use gov't funding to extract concessions on domestic issues.
www.politico.com/news/magazin...
www.politico.com/news/magazin...
Interesting that he didn’t mention purchases of Russian gas, which would be harder to stop buying, I’d guess.
September 13, 2025 at 12:36 PM
Interesting that he didn’t mention purchases of Russian gas, which would be harder to stop buying, I’d guess.
Reposted by Catherine Wolfram
COP30 President André do Lago and I took stock of recent developments as preparations for the COP intensify.
We have important priorities, such as submitting good new NDCs, developing adaptation indicators and highlighting effective policy approaches like carbon pricing at COP30.
We have important priorities, such as submitting good new NDCs, developing adaptation indicators and highlighting effective policy approaches like carbon pricing at COP30.
September 4, 2025 at 3:00 PM
COP30 President André do Lago and I took stock of recent developments as preparations for the COP intensify.
We have important priorities, such as submitting good new NDCs, developing adaptation indicators and highlighting effective policy approaches like carbon pricing at COP30.
We have important priorities, such as submitting good new NDCs, developing adaptation indicators and highlighting effective policy approaches like carbon pricing at COP30.
Nice coverage of the climate coalition work in today's FT!
"Brazil now wants to use the COP30 presidency to push for a different international carbon pricing framework — one based on multilateral agreement, rather than with the EU as the de facto sole standard-setter."
on.ft.com/4p0UnBv
"Brazil now wants to use the COP30 presidency to push for a different international carbon pricing framework — one based on multilateral agreement, rather than with the EU as the de facto sole standard-setter."
on.ft.com/4p0UnBv
Talk of a global carbon pricing scheme grows louder ahead of COP30
Brazil wants to use the presidency to push for an international framework
on.ft.com
September 3, 2025 at 12:14 PM
Nice coverage of the climate coalition work in today's FT!
"Brazil now wants to use the COP30 presidency to push for a different international carbon pricing framework — one based on multilateral agreement, rather than with the EU as the de facto sole standard-setter."
on.ft.com/4p0UnBv
"Brazil now wants to use the COP30 presidency to push for a different international carbon pricing framework — one based on multilateral agreement, rather than with the EU as the de facto sole standard-setter."
on.ft.com/4p0UnBv
Reposted by Catherine Wolfram
Lessons from 3 years of Russia sanctions: (i) financial sanctions don't work on current account surplus countries; (ii) you need to hit exports, which the G7 cap does; (iii) enforcement of the G7 cap was terrible, which is mainly about poor EU governance...
robinjbrooks.substack.com/p/lessons-fr...
robinjbrooks.substack.com/p/lessons-fr...
August 31, 2025 at 12:26 PM
Lessons from 3 years of Russia sanctions: (i) financial sanctions don't work on current account surplus countries; (ii) you need to hit exports, which the G7 cap does; (iii) enforcement of the G7 cap was terrible, which is mainly about poor EU governance...
robinjbrooks.substack.com/p/lessons-fr...
robinjbrooks.substack.com/p/lessons-fr...
Reposted by Catherine Wolfram
🌍💡 Join the WCEREA Webinar on The Political Economy of Carbon Pricing
📅 Sept 9, 2025
⏰ 9:00–10:30 am Pacific Time | Online
Speakers: @bardharstad.bsky.social, @profjeroenbergh.bsky.social, @cwolfram.bsky.social
Moderator: @marcelocaffera.bsky.social
🔗 a1d0g2.emailsp.com/f/rnl.aspx/?...
📅 Sept 9, 2025
⏰ 9:00–10:30 am Pacific Time | Online
Speakers: @bardharstad.bsky.social, @profjeroenbergh.bsky.social, @cwolfram.bsky.social
Moderator: @marcelocaffera.bsky.social
🔗 a1d0g2.emailsp.com/f/rnl.aspx/?...
August 27, 2025 at 3:08 AM
🌍💡 Join the WCEREA Webinar on The Political Economy of Carbon Pricing
📅 Sept 9, 2025
⏰ 9:00–10:30 am Pacific Time | Online
Speakers: @bardharstad.bsky.social, @profjeroenbergh.bsky.social, @cwolfram.bsky.social
Moderator: @marcelocaffera.bsky.social
🔗 a1d0g2.emailsp.com/f/rnl.aspx/?...
📅 Sept 9, 2025
⏰ 9:00–10:30 am Pacific Time | Online
Speakers: @bardharstad.bsky.social, @profjeroenbergh.bsky.social, @cwolfram.bsky.social
Moderator: @marcelocaffera.bsky.social
🔗 a1d0g2.emailsp.com/f/rnl.aspx/?...
Interesting perspective on sanctions, emphasizing the importance of enforcement.
One point is the need for more resources for enforcement agencies. Investigative journalism is cool, but the authorities should be doing a lot of the work, in my view.
www.nytimes.com/2025/08/24/b...
One point is the need for more resources for enforcement agencies. Investigative journalism is cool, but the authorities should be doing a lot of the work, in my view.
www.nytimes.com/2025/08/24/b...
Why Haven’t Sanctions on Russia Stopped the War? The Money Is Still Flowing.
www.nytimes.com
August 24, 2025 at 3:52 PM
Interesting perspective on sanctions, emphasizing the importance of enforcement.
One point is the need for more resources for enforcement agencies. Investigative journalism is cool, but the authorities should be doing a lot of the work, in my view.
www.nytimes.com/2025/08/24/b...
One point is the need for more resources for enforcement agencies. Investigative journalism is cool, but the authorities should be doing a lot of the work, in my view.
www.nytimes.com/2025/08/24/b...
So important to have this kind of investigative journalism turning up what appear to be sanctions violations.
on.ft.com/3UE7WZK
on.ft.com/3UE7WZK
US oilfield services group expands Russian unit despite new sanctions
Weatherford International along with other companies continue to provide critical equipment to the country
on.ft.com
August 21, 2025 at 10:41 AM
So important to have this kind of investigative journalism turning up what appear to be sanctions violations.
on.ft.com/3UE7WZK
on.ft.com/3UE7WZK
Really enjoyed this wide-ranging discussion by @natashasarin.bsky.social on @ezrakleinbot.bsky.social. What especially caught my eye was the mention of the tariff revenues (~$3T over 10 years) and what might replace them in a dem admin, including a carbon fee. www.youtube.com/watch?v=PI6R...
Trump vs. the U.S. Economy | The Ezra Klein Show
YouTube video by The Ezra Klein Show
www.youtube.com
August 18, 2025 at 2:06 PM
Really enjoyed this wide-ranging discussion by @natashasarin.bsky.social on @ezrakleinbot.bsky.social. What especially caught my eye was the mention of the tariff revenues (~$3T over 10 years) and what might replace them in a dem admin, including a carbon fee. www.youtube.com/watch?v=PI6R...