Markets & Finance
Markets have a strong influence on how energy is bought, sold, traded, and forecasted. Paired with regulations—at the federal, state, and local levels—these forces shape our energy landscape.
Recent Work
Policy Design Issues for Border Carbon Adjustments
Border carbon adjustments (BCAs) are an increasingly popular climate policy tool, with the European Union's Carbon Border Adjustment Mechanism set to take full effect in 2026. This brief explores the complex policy design issues entailed in BCAs, and how to make them work.
Beyond Washington: Financing Solar Access
Federal policy shifts, including the rollback of the Investment Tax Credit and cancellation of the Solar for All program, threaten progress in expanding rooftop solar access for low-income households. This digest analyzes the current policy landscape and highlights financing strategies that state, local, and private actors can leverage to maintain momentum in equitable clean energy adoption.
Carbon Pricing & Offsets
Has Europe’s Emissions Trading Scheme Taken Away a Country’s Ability to Reduce Emissions?
Many individual countries pursue climate policies yet are also covered by a broader, overlapping emissions trading system. We explore when such overlapping policies help mitigate climate change, and when they are ineffective or might backfire.
Plugging Carbon Leaks with the European Union’s New Policy
On the road to carbon neutrality in 2050, the European Union (EU) has recently adopted a Carbon Border Adjustment Mechanism (CBAM) to address carbon leakage from international trade. The CBAM raises new challenges. It should be appropriately designed to level the playing field within and outside the EU, and it has the potential to export decarbonization outside the EU’s borders.
Featured Researcher
Heather Boushey
Professor of PracticeHeather Boushey is a professor of practice at the Kleinman Center. Boushey served in the Biden administration as a member of the Council of Economic Advisers and chief economist to the President’s Investing in America cabinet.
Featured Researcher
William Burke-White
Professor of Law, Carey Law SchoolWilliam Burke-White is professor of law at the Carey Law School. An international lawyer and political scientist, he is a leading expert on U.S. foreign policy, multilateral institutions, and international law and a faculty fellow at the Kleinman Center.
Featured Researcher
Danny Cullenward
Senior FellowDanny Cullenward is a senior fellow at the Kleinman Center. He is an economist and lawyer focused on the scientific integrity of climate policy with additional appointments at the Institute for Responsible Carbon Removal at American University and Google.
Featured Researcher
Carolyn Kousky
Senior FellowCarolyn Kousky is a senior fellow at the Kleinman Center and the founder of Insurance for Good. She is also Associate Vice President for Economics and Policy at Environmental Defense Fund.
Featured Researcher
Ken Kulak
Partner, Morgan LewisKen Kulak is a member of the Advisory Board and a former senior fellow at the Kleinman Center. He is an adjunct professor of law at Penn Carey Law School.
Featured Researcher
Angela Pachon
Special AdvisorAngela Pachon is a special advisor to the Kleinman Center, in charge of designing and overseeing international programs and teaching. She was previously the Center's research director.
Featured Researcher
R. Jisung Park
Assistant ProfessorR. Jisung Park is an environmental and labor economist. He is a faculty fellow at the Kleinman Center and an assistant professor, with a primary appointment at the School of Policy and Practice and a secondary appointment at the Wharton School.
Featured Researcher
Benjamin Schmitt
Senior Fellow, Kleinman Center and SASBenjamin Schmitt is a joint senior fellow at the Kleinman Center and the Department of Physics and Astronomy at Penn. He is also an affiliate of the Harvard-Smithsonian Center for Astrophysics and associate of the Harvard-Ukrainian Research Institute.
Featured Researcher
Susanna Berkouwer
Assistant Professor of Business Economics & Public PolicySusanna Berkouwer is an assistant professor of Business Economics & Public Policy at the Wharton School.
Featured Researcher
Cary Coglianese
Edward B. Shils Professor of LawCary Coglianese is the Edward B. Shils Professor of Law and professor of political science at the Carey School of Law. He also is the director of the Penn Program on Regulation and a faculty fellow at the Kleinman Center.
Featured Researcher
Cornelia Colijn
Executive DirectorCornelia Colijn is the executive director of the Kleinman Center. She envisions, plans, and manages all center programming, while building connections with students, faculty, and leaders in the energy industry.
Featured Researcher
Andy Stone
Energy Policy Now Host and ProducerAndy Stone is producer and host of Energy Policy Now, the Kleinman Center’s podcast series. He previously worked in business planning with PJM Interconnection and was a senior energy reporter at Forbes Magazine.
Featured Researcher
Arthur van Benthem
Associate Professor of Business Economics and Public PolicyArthur van Benthem is an expert in environmental and energy economics, exploring the economic efficiency of energy policy. He is a faculty fellow at the Kleinman Center and an associate professor of Business Economics and Public Policy at Wharton.
Featured Researcher
Shelley Welton
Presidential Distinguished ProfessorShelley Welton is Presidential Distinguished Professor of Law and Energy Policy with the Kleinman Center and Penn Carey Law. Her research focuses on how climate change is transforming energy and environmental law and governance.
People
- Susanna Berkouwer
- Heather Boushey
- William Burke-White
- Cary Coglianese
- Cornelia Colijn
- Danny Cullenward
- Francis X. Diebold
- Jesús Fernández-Villaverde
- Ben Keys
- Steven Kimbrough
- Shimon Kogan
- Carolyn Kousky
- Ken Kulak
- Sarah Light
- Ioana Marinescu
- Serguei Netessine
- Angela Pachon
- R. Jisung Park
- Nikolai Roussanov
- Benjamin Schmitt
- Andy Stone
- Nora Todd
- Arthur van Benthem
- Jamie Van Nostrand
- Shelley Welton