Reports & Papers

Decarbonizing existing buildings is a key component of greenhouse gas emission reduction strategies, but private investors have been slow to finance residential decarbonization projects because of a range of barriers. Authors Chang, Fornara, and Sanghvi argue that green banks could play a major role in unlocking public and private financing for projects that are currently financially unviable. 

From July 11-12, 2023, NATO leaders gathered in Vilnius, Lithuania for one of the most significant NATO summits in history. This timely brief by Eric Rosenbach, Grace Jones, and Olivia Leiwant serves as a background piece on Ukraine’s history with NATO, potential future pathways for accession, and the operational impact Ukraine’s NATO membership could have on the alliance. 

In an interconnected world, cyberattacks are becoming more frequent and sophisticated. Building resilience against this asymmetric threat is critical for countries to protect their economies, critical infrastructure, and democratic institutions. However, cyberattacks do not respect borders, and no country can address this threat alone. The strength and longevity of the transatlantic partnership between the EU and the U.S. presents a unique opportunity to address this strategic threat through international cooperation. Through an analysis of cyberwarfare in the ongoing war in Ukraine, this paper proposes policy recommendations to enhance transatlantic coordination and cooperation against current and future adversaries in a new era of strategic competition. Ultimately, a stronger transatlantic partnership is critical for protecting international democratic norms, building resilience against cyber threats, and strengthening global security and stability.

This paper addresses the question of how the Chinese party-state chooses to exercise its economic, financial, diplomatic, military and soft power in the next 25 years will make a great difference to US national security and foreign policy, and to developments in the rest of the world. The paper makes three key points:

The core argument of this paper is that Beijing will likely aspire to pursue an empire-like position globally, not just seek an Asia-Pacific sphere of influence, and that this aspiration will founder. Achieving an empire-like position is both an imperative and is infeasible. The tensions between goal and reality will likely characterize China’s role in the world in coming decades and will be central to the difficulties of US-China relations. Second, there is heuristic value for US policymakers and analysts to consider a 20-year outlook on the rise of China that encompasses China’s pursuit of a global empire-like position. Third, paying close attention to how Beijing organizes its own government, corporate, and non-governmental organizations to seek an empire-like position will provide important signposts emerging tension and trends.

In this paper, I propose five key science and technology areas for greater US-Australia collaboration that carry significant national security and defence risks for both countries. Rapid progress against these challenges will position us for success and strengthen our resilience against groups that seek to undermine the global rules-based order. 

The Korean Missile Crisis of 2017 presented General Brooks with a unique opportunity to rethink deterrence and develop a dynamic playbook to change Kim Jong Un’s calculus. The result he called “micro deterrence signaling.”

The U.S. should accept with humility its inability to fully eliminate terrorism. Specifically, U.S. policy must balance “ends, ways, and means;” establish clear and achievable objectives; adopt efficient, effective, and resource-sustainable strategies; ensure synchronization of diplomatic and military efforts; build alliances to share the burden of countering terrorism; and leverage cooperative mechanisms and regional partnerships to increase the capacity and willingness of regional states to defend their sovereignty and contribute to multinational coalitions against terrorism.  A balanced, integrated, and synchronized strategy encompassing defense, diplomacy, economic, and humanitarian assistance lines of effort should be cornerstone of a revamped foreign policy in the coming decades.

The Biden administration has emphasized the importance of alliances and core values of democracy in its foreign policy approach. Given this emphasis, public diplomacy—activities intended to understand, inform, and influence foreign audiences—should be considered an essential tool in achieving our long-term policy objectives in North Korea. Public diplomacy has the potential to spur domestic change in North Korea—change that could result in improved human rights conditions, leading to behavioral change in the Kim regime, and eventually denuclearization.

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.

In this report, we propose a market reform pathway for Yunnan that is both feasible and applicable to address some of these challenges immediately, while aiming for a standard design based on well-documented international experience. Our proposal includes at its heart a pay-for-performance monthly capacity auction that can help cover revenue deficiencies in the energy market. Building on international experience with capacity markets, this approach provides incentives for availability when generation is needed most and is compatible with the adoption of a single energy market for all electricity resources. Out-of-market payments to cover stranded costs of certain firms can thus be minimized. Finally, engaging consumers in both these energy and capacity markets can create high-powered incentives to shift consumption to low-cost months and hours, benefitting the entire province.