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. 

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.

With concerns and uncertainties regarding Iran’s nuclear future persisting to this day, this paper seeks to review the TRR negotiations and the context in which they unfolded in order to capture some of the lessons of negotiating with Iran regarding its nuclear program, primarily from the viewpoint of senior U.S. officials involved at the time. The paper is also informed by the personal perspective of one of the authors (Poneman) who led the U.S. delegation in the 2009 Vienna talks, and who, prior to this publication, had not publicly elaborated on his experience. The other author (Nowrouzzadeh), who supported the TRR talks in an analytical capacity within the U.S. Department of Defense, also conducted an extensive interview with Poneman as part of their collaboration on this paper. By drawing on existing literature and recent interviews with several senior U.S. officials involved in the negotiations now that over ten years have passed, the authors seek to draw useful lessons from this episode that can assist policymakers in understanding Iran’s nuclear decision-making and in their continued efforts to shape the future trajectory of Iran’s nuclear program.

The ongoing COVID-19 pandemic is upending our lives and the global economy in ways unimaginable until recently. While the overall impacts are still difficult to quantify, ramifications are sure to be felt for decades to come. Providing secure, reliable, and affordable resources for all without causing devastating environmental consequences is perhaps the greatest challenge of the 21st century. But the pandemic has significantly altered dynamics and changed priorities. How is this impacting the quest for sustainability?

In this paper we analyze these challenges by focusing on the plastic industry. There is no doubt that plastic has molded society in many ways that make our lives easier and safer, but it has also created a global environmental and sustainability crisis. In order to curb our addiction to plastic, the world had been waging a war against virgin plastic, but the pandemic has turned an enemy into a much-needed ally. How can we leverage the advantages of plastic without contributing to the world’s environmental crisis? This dilemma poses a significant challenge, but also opens an opportunity to address sustainability at a systemic level through circularity and the transition to low-carbon alternatives to petroleum-based plastics.

Despite the far-reaching effects of the current pandemic,  the essential nature of world politics will not be transformed. The territorial state will remain the basic building-block of international affairs, nationalism will remain a powerful political force, and the major powers will continue to compete for influence in myriad ways. Global institutions, transnational networks, and assorted non-state actors will still play important roles, of course, but the present crisis will not produce a dramatic and enduring increase in global governance or significantly higher levels of international cooperation. In short, the post-COVID-19 world will be less open, less free, less prosperous, and more competitive than the world many people expected to emerge only a few years ago.

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.

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.

Cement production is one of the most energy-intensive and highest carbon dioxide (CO2) emitting manufacturing processes. The goal of this study is to develop a roadmap for decarbonization of California's cement and concrete production. In this study, the authors look at the current status of cement and concrete production in California and develop scenarios up to 2040 to analyze different decarbonization levers that can help to reduce CO2 emissions of cement and concrete production in California.

At the Hanoi Summit in February 2019, the United States and North Korea reached a familiar impasse—diplomacy broke down over the appropriate order of near-term steps, and the world was left wondering whether any package of rewards would be enough to incentivize denuclearization.

In a new Managing the Atom Discussion Paper, Christopher Lawrence outlines an alternative conceptual framework for engaging North Korea. Rather than offering rewards for nuclear rollback, the approach focuses on building credibility around the notion of a shared political future. Lawrence suggests that physical actions—such as shared investments in integrated rail, electricity, or mining infrastructure—speak more credibly about the political future for all the parties involved than do written commitments or more transient “carrots” and “sticks.” The international relationships created by infrastructure projects may alter North Korea's security calculus over time, and incrementally reduce its dependence on nuclear weapons. Drawing lessons from the 1994 Agreed Framework, Lawrence reinterprets the history of nonproliferation engagement with North Korea, and illuminates possible opportunities to break the diplomatic impasse after the Hanoi summit.