Economists have spent a decade designing the perfect climate club, yet political reality has hitherto rendered these designs practically infeasible. The Open Coalition on Compliance Carbon Markets offers a path forward, but only if its architects recognize that understanding political feasibility is crucial to turning a declaration into a functioning carbon pricing club that could close the emissions gap. This piece elaborates on how the Open Coalition is designed and how to turn this initiative into a functioning economic climate club.
As one of the architects of the Open Coalition described it: “Very nice summary of the Open Coalition on Compliance Carbon Markets and thoughtful suggestions on moving forward!”
Full article available here: https://www.nature.com/articles/s41558-025-02541-5