Dear Members and Institutional Partners, We would like to invite you to the HP3 Webinar: “Building a Climate Coalition: Aligning Carbon Pricing, Trade, and Development” scheduled for Tuesday, September 30, from 10 AM to 11 AM (ET). Abstract As global consensus moves slowly and emissions remain high, a smaller group of willing countries can lead. This report outlines a proposal for a climate coalition centered on carbon pricing and border adjustments in four high-emitting industrial sectors: steel, aluminum, cement, and hydrogen. These sectors account for more than 20 percent of global emissions and are well suited for early coordination. Modeling suggests that even a modest coalition could reduce emissions up to seven times more than current policies, while generating significant government revenue. The report also explores options for equitable burden sharing and a governance framework to support transparency, mutual recognition, and technical alignment. The findings show that focused international cooperation—starting with a few sectors and countries—can deliver meaningful climate outcomes in the near term and lay the groundwork for broader global action. Bio Catherine Wolfram is the William Barton Rogers Professor of Energy Economics at the MIT Sloan School of Management. She previously served as the Cora Jane Flood Professor of Business Administration at the Haas School of Business at UC Berkeley. From March 2021 to October 2022, she served as the Deputy Assistant Secretary for Climate and Energy Economics at the U.S. Treasury, while on leave from UC Berkeley. Before leaving for government service, she was the Program Director of the National Bureau of Economic Research's Environment and Energy Economics Program and a research affiliate at the Energy Institute at Haas. Before joining the faculty at UC Berkeley, she was an Assistant Professor of Economics at Harvard. Wolfram has published extensively on the economics of energy markets. Her work has analyzed rural electrification programs in the developing world, energy efficiency programs in the US, the effects of environmental regulation on energy markets and the impact of privatization and market restructuring in the US and UK. She is currently working on projects at the intersection of climate, energy, and trade, including work on oil market sanctions. She received a PhD in Economics from MIT in 1996 and an AB from Harvard in 1989. If you have any questions about the event, please contact Alpa Shah from the IMF (HP3 Supporting IP) at ashah@imf.org. Best regards, The HP3 Co-Leads and Supporting Institutional Partner |