Economics & Global Affairs

The following is an event write-up about the recent Future of Diplomacy Project (FDP) seminar on “The Future of Ukraine: Reconstruction, Energy Security, and Innovation” moderated by Ambassador Paula J. Dobriansky, Senior Fellow with the Future of Diplomacy Project. 

The economist and HKS professor is passionate about solving what may be humanity's most important and perplexing problem: How to untangle fossil fuels from the global economy.

On December 3, 2022, Nicola De Blasio, Senior Fellow with the Belfer Center’s Environment and Natural Resources Program (ENRP), chaired a panel discussion, “Is Hydrogen Our Future?,” at the Rome MED – Mediterranean Dialogue (Rome MED), an annual high-level conference on Mediterranean geopolitics. The panel discussion was part of ENRP’s Future of Hydrogen project’s ongoing engagement with global policymakers, who are increasingly viewing hydrogen as a solution to meeting their decarbonization and energy security goals. 

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 Model of International Green Hydrogen Trade (MIGHTY) is an optimization model to investigate renewable hydrogen production, consumption, and trade between countries. MIGHTY supports strategic analysis by policymakers and investors about the potential roles that countries and regions will play in future renewable hydrogen markets. This paper introduces the model and describes the model formulation.

Last week, U.S. Sen. Joe Manchin seemingly dashed Democrats’ hopes for congressional action to slow climate change. Sen. Bernie Sanders accused Manchin of “sabotag[ing] the president’s agenda”; Rep. John Yarmuth, when asked about the consequences of Congress not acting on climate change, said, “We’re all going to die”; and climate activists, as well as some Democrats in Congress, wondered if Manchin should be removed as chair of the Senate Energy and Natural Resources Committee.

The post-pandemic demand for energy combined with the war in Ukraine and subsequent gas shortages have created a global energy crisis. That is the assessment offered by renowned global energy expert Daniel Yergin in the latest episode of “Environmental Insights: Discussions on Policy and Practice from the Harvard Environmental Economics Program,” a podcast produced by the Harvard Environmental Economics Program.

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?

Russia’s invasion of Ukraine has amplified the importance of national-security considerations in western countries’ energy policies. At the same time, governments must continue to focus on reducing environmental damage – in particular, on cutting greenhouse-gas emissions. Both goals, geopolitical and environmental, are urgent and should be evaluated together.

Capital Choices analyzes the creation of different SWFs from a comparative political economy perspective, arguing that different state-society structures at the sectoral level are the drivers for SWF variation. Juergen Braunstein focuses on the early formation period of SWFs, a critical but little understood area given the high levels of political sensitivity and lack of transparency that surround SWF creation. Braunstein’s novel analytical framework provides practical lessons for the business and finance organizations and policymakers of countries that have created, or are planning to create, SWFs.