The random ring-opening terpolymerization of CO 2 , epoxides, and lactones remains challenging, largely because CO 2 /epoxide copolymerization and lactone ring-opening polymerization typically proceed at very different rates. Herein, we report the preparation of novel statistical terpolymers with random distributions of carbonate and ester units (up to 40% junction units) via the one-pot reaction of β-propiolactone (BPL), epoxides, and CO 2 under mild conditions using a binary catalyst system consisting of SalcyCo(III)OTs (Salcy = N,N'-bis(3,5di-tert-butylsalicylidene)-1,2-diaminocyclohexane; OTs = p-toluenesulfonate) and 7-methyl-1,5,7triazabicyclo[4.4.0]dec-5-ene. As the reaction rates for epoxide/CO 2 alternating copolymerization and BPL polymerization were similar with this catalyst system, terpolymers with nearly identical compositions could be produced at various time points. CO 2 played an important role in preventing intra-and/or intermolecular transesterification side reactions. Thereby, terpolymerization proceeded in a controlled manner, allowing for the fine-tuning of molecular weight and composition. Two-dimensional NMR analysis and density functional theory calculations suggested that the nucleophilic attack of coordinated BPL by carbonate ions predominantly cleaved the alkyl CO bond rather than the acyl C(=O)-O bond, as usually observed in the nucleophilic ringopening polymerization of BPL. These findings open up a new avenue for preparing a broad family of biodegradable polymers with adjustable properties.