Energy

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?

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.

If you were wondering whether Europe is running out of options to deal with its continuing energy crisis, one of Britain’s largest energy suppliers just offered an answer.

Both sides of the Atlantic are converging in their assessment of the challenges China poses to transatlantic prosperity and democracy. The U.S. and Europe must now build on this convergence to advance a common strategy toward China. Only together can the U.S. and Europe, alongside other democratic nations, maintain the necessary leverage in trade, technology and multilateral engagement to hold China accountable to a set of standards that protects democratic societies and contributes to global stability.

To develop a stronger transatlantic approach toward China, the Biden administration must work to rebuild trust in the transatlantic relationship and recommit to multilateral alliances and institutions abandoned by President Trump. Europe for its part must unite and take action where it sees China exploiting its critical industries and infringing on its values. A common position on China at the EU–level and across several influential EU member states is critical to making transatlantic cooperation on China feasible.

President-elect Joe Biden’s decision to create a new cabinet-level position for climate-related issues — and to choose so prominent a figure as former Secretary of State John Kerry to fill it — demonstrates Biden’s sincerity over putting climate at the very center of U.S. foreign policy. It is easy to understate the importance of this appointment, given the flurry of czars created by most new administrations.

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.

Juergen Braunstein and Sachin Silva argue that sovereign wealth funds may be central to governments' efforts to balance public responsibility with private interests in post-pandemic economies.

As the divergent experiences of the US and South Korea show, testing can be the difference between disease containment and catastrophe. Rather than relying on national governments to ensure the rapid development, production, and deployment of diagnostics during outbreaks, the world needs a global coordinating platform.