Reports & Papers

Russia's 2022 invasion of Ukraine illuminated the long profound shadow of nuclear weapons over international security. Russia's nuclear threats have rightfully garnered significant attention because of the unfathomable lethality of nuclear weapons. However, the use of such weapons in Ukraine is only one way—albeit the gravest— that Russia could challenge the global nuclear order. Russia's influence extends deep into the very fabric of this order—a system to which it is inextricably bound by Moscow's position in cornerstone institutions such as the Nuclear Non-Proliferation Treaty (NPT) and the International Atomic Energy Agency (IAEA). From withdrawing from key treaties to stymieing resolutions critical of misconduct, Moscow has demonstrated its ability to challenge the legitimacy, relevance, and interpretations of numerous standards and principles espoused by the West.

In late 2017, Mexico made headlines as Italian company Enel bid what was then a world-record low price for renewable energy in the country’s third such energy auction. This development was possible due to the historical and sweeping energy reforms passed with broad support in Mexico in 2013. Then-President Enrique Peña Nieto had succeeded where previous Mexican presidents had failed, reversing decades of resource nationalism and overhauling the energy sector through constitutional reforms that gave the private sector a larger role and advantaged renewable energy in Mexico’s economy. The 2017 auction seemed to indicate Mexico’s bright future not only as a conventional oil producer, but also as a clean energy power.

Guangdong Province ranks first in economic output among China’s provinces and will play a major role in achieving China’s national climate-change goals. This paper examines the progress of Guangdong Province’s carbon dioxide emissions trading system (ETS) in reducing emissions; design features of the system; challenges it faces with regard to further development; and its relationship to China’s new national ETS.

The United States and United Kingdom have longstanding traditions in use of environmental benefit-cost analysis (E-BCA). While there are similarities between how E-BCA is utilized, there are significant differences too, many of which mirror ongoing debates and recent developments in the literature on environmental and natural resource economics. We review the use of E-BCA in both countries across three themes: (a) the role of long-term discounting; (b) the estimation and use of carbon valuation; and, (c) the estimation and use of the value of a statistical life. 

This paper considers the treatment of co-benefits in benefit-cost analysis of federal air quality regulations. Using a comprehensive data set on all major Clean Air Act rules issued by the Environmental Protection Agency over the period 1997–2019, the authors show that (1) co-benefits make up a significant share of the monetized benefits; (2) among the categories of co-benefits, those associated with reductions in fine particulate matter are the most significant; and (3) co-benefits have been pivotal to the quantified net benefit calculation in nearly half of cases.

The United States government must require private industry and research institutions to take this threat seriously and develop cybersecurity policy and practices that will result in multiple layers of cybersecurity protections. This layered approach will require combined efforts from both the government and private industry to create an overlapping protection scheme.

On December 5, 1994, leaders of the United States, the United Kingdom, and the Russian Federation met in Budapest, Hungary, to pledge security assurances to Ukraine in connection with its accession to the Treaty on the Nonproliferation of Nuclear Weapons (NPT) as a non-nuclear-weapons state. The signature of the so-called Budapest Memorandum concluded arduous negotiations that resulted in Ukraine’s agreement to relinquish the world’s third-largest nuclear arsenal, which the country inherited from the collapsed Soviet Union, and transfer all nuclear warheads to Russia for dismantlement. The signatories of the memorandum pledged to respect Ukraine’s territorial integrity and inviolability of its borders, and to refrain from the use or threat of military force. Russia breached these commitments with its annexation of Crimea in 2014 and aggression in eastern Ukraine, bringing the meaning and value of security assurance pledged in the Memorandum under renewed scrutiny.

On the occasion of the 25th anniversary of the memorandum’s signature, the Project on Managing the Atom at the Belfer Center for Science & International Affairs at the Harvard Kennedy School, with the support of the Center for U.S.-Ukrainian Relations and the Harvard Ukrainian Research Institute, hosted a conference to revisit the history of the Budapest Memorandum, consider the repercussions of its violation for international security and the broader nonproliferation regime, and draw lessons for the future. The conference brought together academics, practitioners, and experts who have contributed to developing U.S. policy toward post-Soviet nuclear disarmament, participated in the negotiations of the Budapest Memorandum, and dealt with the repercussions of its breach in 2014. The conference highlighted five key lessons learned from the experience of Ukraine’s disarmament, highlighted at the conference.

To accelerate the global transition to a low-carbon economy, all energy systems and sectors must be actively decarbonized. While hydrogen has been a staple in the energy and chemical industries for decades, renewable hydrogen is drawing increased attention today as a versatile and sustainable energy carrier with the potential to play an important piece in the carbon-free energy puzzle. Countries around the world are piloting new projects and policies, yet adopting hydrogen at scale will require innovating along the value chains; scaling technologies while significantly reducing costs; deploying enabling infrastructure; and defining appropriate national and international policies and market structures.

What are the general principles of how renewable hydrogen may reshape the structure of global energy markets? What are the likely geopolitical consequences such changes would cause? A deeper understanding of these nascent dynamics will allow policy makers and corporate investors to better navigate the challenges and maximize the opportunities that decarbonization will bring, without falling into the inefficient behaviors of the past.

This discussion paper (available in English and Chinese) describes the evolution of decentralization over the reform period that began in China in 1978, different theories of institutional change in China, and how the empirical and theoretical literatures help scholars and policymakers understand the development of institutions for governing GHG-emitting activities.

In this report, the authors conduct a benchmarking analysis for energy and CO2 emissions intensity of the steel industry among the largest steel-producing countries.