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Catherine Wolfram @cwolfram.bsky.social · 1d

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

Catherine Wolfram @cwolfram.bsky.social · 4d

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...

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

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Catherine Wolfram @cwolfram.bsky.social · 5d

@mark-carney.bsky.social

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Catherine Wolfram @cwolfram.bsky.social · 5d

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...

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

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Catherine Wolfram @cwolfram.bsky.social · 12d

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.

Kimberly Clausing @kclausing.bsky.social · 12d

🧵 (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...

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Catherine Wolfram @cwolfram.bsky.social · 13d

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

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Catherine Wolfram @cwolfram.bsky.social · 13d

"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...

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

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Catherine Wolfram @cwolfram.bsky.social · 16d

Although work by @robin-j-brooks.bsky.social and @econharris.bsky.social suggests US sanctions are the most effective, and the US hasn't been following other countries lately.

www.brookings.edu/articles/inc...

Increase pressure or silently acquiesce | Brookings

European regulators face critical decisions on Russia how to continue the regime of sanctions in response to the invasion of Ukraine.

www.brookings.edu

Catherine Wolfram @cwolfram.bsky.social · 16d

Luckily, it looks like adding sanctions on the shadow fleet depresses the price Russia receives.

www.bloomberg.com/news/article...

Russian Oil Falls Back Below $60 Price Cap as US Sanctions Bite

Russia’s flagship crude oil has dropped back below a price cap of $60 a barrel for the first time since December, one of several indicators that fresh US sanctions on Moscow may be biting.

www.bloomberg.com

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Catherine Wolfram @cwolfram.bsky.social · 16d

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...

How Russia’s Sanctions Evasion Could Create Lasting Costs

www.nytimes.com

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Catherine Wolfram @cwolfram.bsky.social · 17d

New bipartisan Senate bill targets Russia's shadow fleet used to evade oil price cap.

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

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Catherine Wolfram @cwolfram.bsky.social · 21d

I have particular appreciation for the leadership of Ambassador Corrêa do Lago, Finance Minister Fernando Haddad and his team led by Rafael Dubeux, including Cristina Reis and Jose Pedro Nevors for putting this proposal on the agenda heading into #COP30.

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Catherine Wolfram @cwolfram.bsky.social · 21d

The fantastic working group was supported by the report team, led by Arathi Rao including Ruchee Bhatta, Kevin Hsu, Anna Neumann, Fanming Meng, @mpereboom.bsky.social and @naomishimberg.bsky.social who made this all happen and deserve special thanks!

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Catherine Wolfram @cwolfram.bsky.social · 21d

Working group incl: Joseph Aldy, Candido Bracher, Vaibhav Chaturvedi, @kclausing.bsky.social, Christian Gollier, @frankjotzo.bsky.social , Marcelo Medeiros, Athiphat Muthitacheroen, Axel Ockenfels, Mari Elka Pangestu, Daouda Sembene, PhD, E. Somanathan, Dustin Tingley, @jenniferwinter.bsky.social

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Catherine Wolfram @cwolfram.bsky.social · 21d

With #COP30 in Brazil on the horizon — and Brazil making this a signature initiative — the moment is ripe for countries to move from fragmented carbon border adjustments to a cooperative framework that advances climate, trade, and development together.

on.ft.com/4p9McTr

#climatesky, #econsky

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

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Catherine Wolfram @cwolfram.bsky.social · 21d

C. Price impacts on key materials would be modest, with minimal consumer effects.

D. A graduated approach would allow low- and middle-income countries to join fairly, backed by technology transfer, finance, and capacity-building.

Bar chart showing that with a graduated carbon price approach, output may increase in low- and low-middle-income countries.

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Catherine Wolfram @cwolfram.bsky.social · 21d

Using 2 models, our analysis shows that:

A. A climate coalition could cut emissions 7x more than current policies — equal to Canada’s annual emissions.

B. It could raise nearly $200 billion per year in revenues, mostly from domestic carbon pricing.

Bar charts showing that carbon pricing yields ~$200 B in domestic revenues, much more than CBAM revenues.

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Catherine Wolfram @cwolfram.bsky.social · 21d

We build on two important facts:

1. Over 80% of emissions in the steel, cement, aluminum and fertilizers industries are _already_ covered by existing or planned carbon pricing systems.

2. These industries account for over 20% of global carbon emissions.

Pie chart showing that 82% of carbon emissions are already covered by carbon pricing (planned and existing) in the steel, aluminum, cement and fertilizers industries.

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Catherine Wolfram @cwolfram.bsky.social · 21d

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

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Catherine Wolfram @cwolfram.bsky.social · 23d

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...

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

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Catherine Wolfram @cwolfram.bsky.social · 24d

Interesting that he didn’t mention purchases of Russian gas, which would be harder to stop buying, I’d guess.

Anton Gerashchenko @antongerashchenko.bsky.social · 24d

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Reposted by Catherine Wolfram

Wopke Hoekstra @wopkehoekstra.ec.europa.eu · Sep 4

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.

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Catherine Wolfram @cwolfram.bsky.social · Sep 4

Wow, huge congrats!

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Catherine Wolfram @cwolfram.bsky.social · Sep 3

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

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

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Reposted by Catherine Wolfram

Robin Brooks @robin-j-brooks.bsky.social · Aug 31

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...

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