Catherine Wolfram @cwolfram.bsky.social · 12/09/2026The Open Coalition on Compliance Carbon Markets has a website! #occcm occcm.orgocccm.orgOpen Coalition on Compliance Carbon MarketsThe Open Coalition on Compliance Carbon Markets brings together countries or jurisdictions that have decided to move forward together in the decarbonization of the global economy. The initiative aims ... 001
Catherine Wolfram @cwolfram.bsky.social · 04/09/2026With @kclausing.bsky.social, @frankjotzo.bsky.social, @allanhsiao.bsky.social, @kylemeng.com @mpereboom.bsky.social @naomishimberg.bsky.social, @jenniferwinter.bsky.social plus others not on Bsky. 000
Catherine Wolfram @cwolfram.bsky.social · 04/09/2026We start with steel, aluminum, cement and fertilizer and find meaningful emission reductions and substantial public revenues. Stay tuned for our next report, out Sept. 8, which sets out a practical framework for how to operationalize cooperation across different carbon-pricing systems. 100
Catherine Wolfram @cwolfram.bsky.social · 04/09/2026Our new Policy Forum, "Building a Scalable Climate Coalition for Heavy Industry," builds on GCPP's 2025 flagship report by modeling what a first-wave coalition could look like, with countries coordinating carbon-price floors and border adjustments. salatainstitute.harvard.edu/building-a-c... 100
Catherine Wolfram @cwolfram.bsky.social · 04/09/2026New paper in @science.org: As of 2025, 80 carbon-pricing instruments were in place across 50 jurisdictions. By coordinating across systems, we can increase emission reductions and avoid trade barriers from a profusion of different border adjustments. www.science.org/doi/10.1126/...science.orgBuilding a scalable climate coalition for heavy industryEmissions could be reduced, with minimal impact on production, while generating billions in public revenues 1209
Catherine Wolfram @cwolfram.bsky.social · 15/07/2026The full paper was published by The Brookings Institution. www.brookings.edu/wp-content/u...brookings.edu 062
Catherine Wolfram @cwolfram.bsky.social · 15/07/2026To date, the mortality effects of wildfire smoke came in as the second largest category of harm, behind only rising insurance and related flood costs. 1177
Catherine Wolfram @cwolfram.bsky.social · 15/07/2026🔥 Here in Boston, like elsewhere, we're seeing air pollution from Canadian wildfires — the odd-colored sun, the haze, and the real health risks that come with it. This has real costs. @kclausing.bsky.social, @knittelmit.bsky.social and I tallied ways that U.S. hhs have experienced climate change. 12613
Catherine Wolfram @cwolfram.bsky.social · 15/04/2026Here are the links to the reports IEA: www.iea.org/reports/stat... GCPP: salatainstitute.harvard.edu/building-a-c...iea.orgState of Energy Policy 2026 – Analysis - IEAState of Energy Policy 2026 - Analysis and key findings. A report by the International Energy Agency. 041
Catherine Wolfram @cwolfram.bsky.social · 15/04/2026How? By joining forces on carbon pricing, e.g. for heavily traded goods like steel and aluminum, countries can both protect competitiveness and advance climate goals. A complementary way to drive action is to support decarb investments, as the EU is doing in India through the free trade agreement. 151
Catherine Wolfram @cwolfram.bsky.social · 15/04/2026As you can see from the dotted line on the IEA graph, many of the carbon price levels are not in the “highest stringency” category, meaning the prices are low. This is the gap that the Open Coalition, launched by Brazil at COP30, is well-positioned to address. icapcarbonaction.com/en/news/coun...icapcarbonaction.comCountries endorse new multilateral coalition on compliance carbon markets at COP30 111
Catherine Wolfram @cwolfram.bsky.social · 15/04/2026Credit where it’s due: #CBAM deserves much of the credit for this recent explosion in carbon pricing. Huge kudos to the EU. www.rff.org/publications...rff.orgHow Carbon Border Adjustments Might Drive Global Climate Policy Momentum 141
Catherine Wolfram @cwolfram.bsky.social · 15/04/2026The 2nd, from Global Climate Policy Project at Harvard and MIT's flagship “Building a Climate Coalition” report from Sept ‘25, shows that when you zero in on the #cbam sectors and add carbon pricing policies enacted but not yet in force (e.g., Brazil and India), over 80% of emissions are covered!! 221
Catherine Wolfram @cwolfram.bsky.social · 15/04/2026A 🧵on two of my all-time favorite charts. The 1st, just published by the @iea.org in the “State of Energy Policy 2026” report shows that more than half of industrial CO2 emissions are now covered by carbon pricing. Reports linked below. 164
Catherine Wolfram @cwolfram.bsky.social · 14/04/2026Ugh. www.nytimes.com/2026/04/14/w...nytimes.comRussian Oil Revenues Nearly Doubled in March 187
Catherine Wolfram @cwolfram.bsky.social · 10/04/202629 days ago, the Trump Administration removed sanctions on Russian oil for 30 days. Hopefully, they don't extend that relief tonight. www.banking.senate.gov/newsroom/min...banking.senate.govWarren, Shaheen, Schumer Release Joint Statement Urging Trump Administration Not to Extend Sanctions Relief for Russian Oil | United States Committee on Banking, Housing, and Urban AffairsThe Official website of The United States Committee on Banking, Housing, and Urban Affairs 070
Reposted by Catherine WolframPatrick De Haan @gasbuddyguy.bsky.social · 31/03/2026BREAKING: $4 is back. The national average has just reached $4/gal according to GasBuddy, the highest since August 8, 2022. The rise is now the largest monthly increase GasBuddy has ever recorded: $1.059/gal for gasoline, $1.701/gal for diesel. 714472
Catherine Wolfram @cwolfram.bsky.social · 23/03/2026J posted on @bruegel.org: "We find that countries with greater trade exposure to CBAM are significantly more likely to adopt carbon pricing policies following the European Commission’s announcement of the carbon border measure in 2019." Can't wait to see the paper! www.bruegel.org/newsletter/w...bruegel.orgTo what extent can the EU's carbon border adjustment mechanism spur global climate action? 061
Catherine Wolfram @cwolfram.bsky.social · 17/03/2026The DROP Act contains a provision along these lines. www.mccormick.senate.gov/news/press-r...mccormick.senate.govSenators McCormick, Warren, Husted, and Coons Co-Lead Bipartisan Bill to Strengthen and Sustain Pressure on Russian Oil Revenue, Help Achieve Just PeaceThe bipartisan DROP Act targets Russia’s main source of revenue by addressing the global ecosystem of those dealing in Russian oil WASHINGTON, D.C., December 16, 2025 – Today, U.S. Senators Dave McCor... 000
Catherine Wolfram @cwolfram.bsky.social · 17/03/2026Glenn Hubbard and I proposed one solution to that: charge a "tariff" on Russian oil sales. www.nytimes.com/2025/03/27/o...nytimes.comOpinion | How to Punish Russia, Make Money and End the War 110
Catherine Wolfram @cwolfram.bsky.social · 16/03/2026Completely agree re enforcement, but my preference would be to use the ultimate enforcement tool - secondary sanctions - on caps. Even the threat of those in late Oct. '25 led to huge Urals discounts. 110
Catherine Wolfram @cwolfram.bsky.social · 16/03/2026This is one of the beauties of the price cap, in my view: sanctioning countries could impose harm on Russia without imposing harm on ourselves. Also, embargoes are imperfect and could have ended up benefitting Russia if the remaining barrels they managed to sell were much more profitable. 150
Catherine Wolfram @cwolfram.bsky.social · 16/03/2026For one, embargoes hurt both the sanctioning countries and the sanctioned, so they end up being games of chicken where each side is waiting for the other to relent. When the sanctioned are ruled by people like Putin or Khamenei, I think there’s no way the West wins. 131
Catherine Wolfram @cwolfram.bsky.social · 16/03/2026I am a big fan of most of what @robin-j-brooks.bsky.social says about Russian oil but disagree strongly w this Substack. 231
Catherine Wolfram @cwolfram.bsky.social · 14/03/2026As usual, very well said by @crampell.bsky.social. 010
Reposted by Catherine WolframPubAffairs EU Debates, News & Opinions 🇪🇺 @pubaffairsbruxelles.eu · 10/03/2026#CBAM: 'Carbon pricing at Europe's borders is a good idea, but it has clear limits', by Christian Gollier, Axel Ockenfels & @cwolfram.bsky.social | Le Monde www.lemonde.fr/en/opinion/a...lemonde.fr'Carbon pricing at Europe's borders is a good idea, but it has clear limits'OP-ED. Economists Christian Gollier, Axel Ockenfels and Catherine Wolfram warn of the risk posed to Europeans by the lack of ambitious, reciprocal climate commitments from their economic partners. 011
Reposted by Catherine WolframRory Johnston @roryjohnston.bsky.social · 09/03/2026Statements like this from Trump will make the oil market reaction *worse* No one who has any idea how the oil market works is buying it—all this does is make it seem like Trump believes it, which means the base case length of this disruption is growing ever-longer. Tick. Tock. 934269
Reposted by Catherine WolframBruegel @bruegel.org · 27/02/2026📊 Chart of the week: EU nitrogen fertiliser prices Exempting fertilisers from CBAM would achieve little while risking climate progress, argue @kclausing.bsky.social, Ignacio García Bercero, @mpereboom.bsky.social & @cwolfram.bsky.social 🔗Read the First Glance: buff.ly/HdgPdrT #EconSky 021
Reposted by Catherine WolframKimberly Clausing @kclausing.bsky.social · 25/02/2026New piece out @bruegel.org with Ignacio García Bercero, @mpereboom.bsky.social, and @cwolfram.bsky.social. In which we describe why exempting fertilizer from the EU's CBAM will do little to nothing for farmers, while weakening an important climate policy tool. www.bruegel.org/first-glance...bruegel.orgHolding the line on the EU carbon border adjustment mechanismExempting fertilisers from CBAM would achieve little while risking climate progress 113852
Catherine Wolfram @cwolfram.bsky.social · 23/02/2026If courts uphold Trump's attack on the EPA's ability to regulate GHGs, climate progress gets a lot harder in the US, but legislation to pass carbon pricing has a procedural advantage since it could be enacted through budget reconciliation with a simple majority. 110
Catherine Wolfram @cwolfram.bsky.social · 23/02/2026Countries are responding by adopting their own carbon prices and now other countries, like Australia and Turkey, are considering their own CBAMs, which is like another spin of the flywheel. www.dcceew.gov.au/climate-chan...dcceew.gov.au 110
Catherine Wolfram @cwolfram.bsky.social · 23/02/2026⚙️ A flywheel takes effort to start. But once it spins, each rotation makes the next one easier. The EU’s #ETS and #CBAM have set that momentum going. 110
Catherine Wolfram @cwolfram.bsky.social · 23/02/2026I'm pleased to share my recent column in Project Syndicate. ⚙️ I argue that we can think of Europe’s climate leadership as a policy flywheel. Europe Must Not Abandon Its Climate Ambitions by Catherine Wolfram @projectsyndicate.bsky.social prosyn.org/KliboFDprosyn.orgEurope Must Not Abandon Its Climate AmbitionsCatherine Wolfram highlights three recent developments that underscore why the bloc should maintain its carbon-pricing system. 165
Reposted by Catherine WolframKimberly Clausing @kclausing.bsky.social · 12/02/2026(1/2) Such a pleasure discussing the importance of the EU CBAM for climate policy with Arvid Viaene. Listen to his podcast to hear more about our work on the Global Effects of CBAM, with @allanhsiao.bsky.social @cwolfram.bsky.social and @jmcolmer.bsky.social. www.buzzsprout.com/2412056/epis...buzzsprout.com#18 Kimberly Clausing - The Global Effects of CBAM: Quantifying Benefits, Costs, and Leakage - Climate Economics with Arvid ViaeneClimate policy faces a built-in incentive problem: countries bear the costs of domestic regulation, while the benefits of lower CO₂ are shared globally. One proposed solution is a Carbon Border Adjust... 193
Catherine Wolfram @cwolfram.bsky.social · 12/02/2026The DROP Act is introduced in the House with a heavy-hitting set of co-sponsors. mccaul.house.gov/media-center...mccaul.house.govMcCaul, Colleagues Introduce Bipartisan Legislation to Cripple Russian Oil RevenueWASHINGTON – Today, U.S. Representative Michael McCaul (R-Texas) — chairman emeritus of the House Foreign Affairs Committee — introduced the Decreasing Russian Oil Profits (DROP) Act of 2026. 010
Catherine Wolfram @cwolfram.bsky.social · 27/01/2026Good news re #CBAM in the EU-India trade deal: It's intact, and, even better, the EU committed not to give other countries a break. They also committed to support decarbonization in India to the tune of 500 million euros. www.reuters.com/sustainabili...reuters.comEU-India trade deal leaves bloc's carbon border tariff intactA landmark trade deal struck by India and the European Union on Tuesday will not trigger any changes to the bloc's carbon border tariff, EU officials said, despite India's concerns over the scheme. 095
Catherine Wolfram @cwolfram.bsky.social · 26/01/2026Yes, EU CBAM pushing Indian steel producers toward greener production processes. I only wish people would stop referring to #CBAM as a tariff. Tariffs treat foreign and domestic producers differently, while a CBAM levels the playing field. More like a VAT. www.canarymedia.com/articles/gre...canarymedia.comNew EU carbon tariff pushes India toward green steelEurope’s pioneering tax on polluting imports presents India’s coal-reliant steelmakers with a choice: Decarbonize or risk losing customers. 073
Catherine Wolfram @cwolfram.bsky.social · 23/01/2026Anyone in #Canada selling swag off @mark-carney.bsky.social speech yet? A "Take Down the Sign" hat? Or too American? @blakeshaffer.bsky.social 000
Catherine Wolfram @cwolfram.bsky.social · 21/01/2026Yes, totally agree! Or at least read the transcript: www.theglobeandmail.com/politics/art...theglobeandmail.comRead and watch Carney’s full speech from DavosPrime Minister stands behind Greenland, offers veiled criticism of Trump in blunt Davos speech 000
Catherine Wolfram @cwolfram.bsky.social · 16/01/2026Keeping an eye on this and hoping the EU holds firm on #CBAM. My read is that there's some chance of a fertilizer exemption but that's just the kernel of an idea right now. www.spglobal.com/energy/en/ne...spglobal.com 140
Catherine Wolfram @cwolfram.bsky.social · 08/01/2026DROP Act here: www.banking.senate.gov/newsroom/min...banking.senate.govMcCormick, Warren, Husted, and Coons Co-Lead Bipartisan Bill to Strengthen and Sustain Pressure on Russian Oil Revenue, Help Achieve Just Peace | United States Committee on Banking, Housing, and Urban...The Official website of The United States Committee on Banking, Housing, and Urban Affairs 000
Catherine Wolfram @cwolfram.bsky.social · 08/01/2026Graham sanctions bill may be moving forward. Ideally, Graham would work with McCormick and adopt parts of the DROP Act. www.politico.com/live-updates...politico.comTrump has ‘greenlit’ Russia sanctions bill, Lindsey Graham saysThe South Carolina Republican said the Senate could vote as soon as next week. 120
Catherine Wolfram @cwolfram.bsky.social · 04/01/20262. Actions the US takes to influence others’ emissions can be as important as actions we take to influence our own. Ideally we do both. (Here's the whole document with the figure above: www.piie.com/publications...piie.comHow an international agreement on methane emissions can pave the way for enhanced global cooperation on climate changeUnder the 2022 Inflation Reduction Act, the United States has for the first time implemented a methane emissions fee as a backstop to new methane regulations in the oil and gas sectors. The European U... 000
Catherine Wolfram @cwolfram.bsky.social · 04/01/2026There are a lot of questions about what just happened in VZ and where things will go, but this is a specific example of two general points: 1. Governance matters. Corrupt regimes wreak lots of havoc, including to the environment. 120
Catherine Wolfram @cwolfram.bsky.social · 04/01/2026On the other hand, if oil production from VZ increases without addressing the methane intensity, this will be very bad for GHG emissions. 100
Catherine Wolfram @cwolfram.bsky.social · 04/01/2026If we take the 20-year global warming potential, it’s like reducing over 300 mmt, comparable in magnitude to some early assessments of the damage done to US emissions by the OBBBA, but helpful this time! 100
Catherine Wolfram @cwolfram.bsky.social · 04/01/2026If new investment in the VZ oil sector helps capture some of that CH4, this will be HUGE for the climate. If VZ could achieve the same intensity as other countries (100 Gg/Gj instead of 2100), that would be like reducing over 100 mmt of CO2, using the 100-year global warming potential of CH4. 110
Catherine Wolfram @cwolfram.bsky.social · 04/01/2026Here’s an interesting fact about the Venezuelan oil and gas sector: it’s ridiculously, off-the-charts dirty when it comes to methane emissions. In some earlier work, we had to change the scale to show Venezuela’s methane emissions per unit of energy produced. 292
Catherine Wolfram @cwolfram.bsky.social · 29/12/2025I'd say the article answers the headline with a "yes", including quotes from @gzachmann.bsky.social at @bruegel.org. www.barrons.com/news/europe-...barrons.comEurope Wanted Its Carbon Border Tax To Go Global -- Is It Working?The EU's carbon border tax was designed to do more than clean up its own economy: it hoped to encourage trading partners to put a price on pollution as well. 041
Reposted by Catherine WolframSarah T. Fischell @sfischell.bsky.social · 22/12/2025Looks like the initial data on NYC congestion pricing say it’s working. 👏 🔌💡 #TalkAboutClimate www.bloomberg.com/news/article...bloomberg.comNew York's Congestion Pricing Is Working. Five Charts Show HowNearly a year ago, New York City embarked on a controversial program to toll drivers entering some of Manhattan’s busiest streets. The goal of the congestion pricing plan, the first of its kind in the... 0116
