South Asia

For many, integrating “decarbonization” into public policy, corporate and financial strategies has become a requirement, not an option — yet, what happens when the critical link between climate stability and decarbonization breaks?

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.

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.

Stephen Walt writes that several important events occurred in 2019, but few did anything to significantly alter global trends.

Fifteen Minutes sat down with Professor Robert N. Stavins, Director of the Harvard Environmental Economics Program, to talk about cap-and-trade, the Peace Corps, and what individuals can do to combat climate change.

"This week, with little fanfare, one of the world’s key restraints on the spread of nuclear weapons came under scrutiny, as a month-long review of the Non-Proliferation Treaty (NPT) concluded at the United Nations," writes Graham Allison. "Negotiated over the 1960s, the NPT was signed in 1968 and became international law in 1970. As specified by the treaty, members hold a conference every five years to assess the agreement. The exercise offers insight into our nuclear age, and perspective ahead of the coming debate over a treaty to constrain Iran’s nuclear ambitions."