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In March 2026, the Office of the US Trade Representative (USTR) announced it was investigating "structural excess capacity and production in manufacturing sectors" in 16 economies.
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For years, the energy transition was discussed as a shift that would happen in steady, predictable increments. But a massive surge in electricity demand in recent years—now colliding...
External Publications by Noah Kaufman & Peter Marsters • August 17, 2020
The social cost of carbon (SCC) is commonly described and used as the optimal CO2 price. However, the wide range of SCC estimates provides limited practical assistance to policymakers setting specific CO2 prices. Here we describe an alternate near-term to net zero (NT2NZ) approach, estimating CO2 prices needed in the near term for consistency with a net-zero CO2 emissions target. This approach dovetails with the emissions-target-focused approach that frames climate policy discussions around the world, avoids uncertainties in estimates of climate damages and long-term decarbonization costs, offers transparency about sensitivities and enables the consideration of CO2 prices alongside a portfolio of policies. We estimate illustrative NT2NZ CO2 prices for the United States; for a 2050 net-zero CO2 emission target, prices are US$34 to US$64 per metric ton in 2025 and US$77 to US$124 in 2030. These results are most influenced by assumptions about complementary policies and oil prices.
The UNFCCC process is marred by gridlock in the COP multilateral framework, threatening joint efforts by countries to mitigate the climate crisis.
On March 20, Governor Kathy Hochul proposed significant changes to New York’s Climate Leadership and Community Protection Act (CLCPA), the landmark climate law passed in 2019.
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External Publications by Noah Kaufman & Peter Marsters • August 17, 2020