Asia & the Pacific

The geopolitical and geo-economic forces wrought by the coronavirus pandemic, as examined previously in this series, are likely to slow the transition to a more sustainable global energy mix. Fortunately, the pandemic has also resulted in governments gaining vastly greater influence over whether this shift stalls or accelerates.

For most people, there was nothing to celebrate when the International Monetary Fund downgraded its outlook for global economic growth in June, anticipating a contraction of 4.9% for 2020. Yet for others, such as the small but persistent group of economists and others known as the “degrowth movement,” the Covid-induced economic slowdown has a silver lining.

The search for silver linings to the coronavirus pandemic has come up woefully short. But one hopeful — and much talked of — prospect is that the disruption will accelerate the global shift to a more sustainable energy future.

Today’s economic crisis leaves us with an unsettling and perplexing regret. Why weren’t financial portfolios already adjusted for risks that stem from health events such as pandemics? After all, financial portfolios are adjusted for liquidity risks, market risks, credit risks, and even operational and political risks.

In Summer of 2013, The Project on Managing the Atom released “Plutonium Mountain: Inside the 17-Year Mission to Secure a Dangerous Legacy of Soviet Nuclear Testing.” In the report, Eben Harrell and David Hoffman tell how dedicated scientists and engineers in three countries overcame suspicions, secrecy, bureaucracy, and logistical obstacles to secure more than a dozen bombs worth of plutonium that had been left behind at the Semipalatinsk Test Site in Kazakhstan after the collapse of the Soviet Union. Although the outline of the Semipalatinsk operation had been made public before, the report filled in new details.