The leaders’ endorsement of the Open Coalition, including the EU, China, Canada, Mexico, Zambia and other countries, lays an important foundation, but there’s a lot of work to be done to build the house on top of that foundation. Time to get to work!

Using a building analogy, I would describe myself as a contractor more than a creator. Nordhaus was certainly one of the central architects with his work on climate clubs, I'm just helping to get that vision in place.

For more info, see:

Harvard press release: salatainstitute.harvard.edu/harvard-mit-...

Brazil's page on the declaration:
www.gov.br/mre/pt-br/ca...

Our blog post: salatainstitute.harvard.edu/a-green-edge...

Why is it important that this is a leaders’ statement?

As my awesome colleague Arathi Rao says, “This declaration marks an important first step. It sends a clear political signal that countries are serious about aligning compliance carbon markets.”

Now the work begins to bring this to life!

It demonstrates how we make progress on climate without the second largest emitter at the table.

💡It recognizes that by collaborating, countries can drive greater ambition.

💡It underscores the importance of carbon pricing in tackling climate change and reminds us that many countries outside of the U.S. are adopting it, especially for heavy industries.

E.g., from our recent report:

ceepr.mit.edu/wp-content/u...

@mark-carney.bsky.social

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...