Energy

The Biden administration has established a national goal of 100% carbon-free electricity by 2035 and reaching net-zero economy-wide greenhouse gas emissions by 2050. But to realize these goals, the United States must not only transition the production of power, but also build thousands of miles of upgraded or new transmission.

Carbon capture, utilization, and storage (CCUS) is very likely to be a key technology for achieving the Biden administration's goal of net-zero greenhouse gas emissions by 2050. But absent regulation requiring its use, CCUS needs to become more economical in order for deployment in the United States to expand significantly.

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.

China announced it would launch a national carbon market in 2017, yet this policy is taking years to come into effect. What will it take for a carbon market to work in command-and-control China? This policy brief explores an understudied challenge—emissions accounting—and identifies potential opportunities that have arisen in the first phase of China’s national carbon market.

Corporations, organizations, and even governments are purchasing offsets to reduce their carbon footprint. This policy brief provides an overview of the offset process – who buys them, who produces them, and who certifies them; describes the emerging challenges facing this market; and makes recommendations for the future.

This policy brief describes the persistent challenge of poor electricity reliability in India and how it interacts with key regulatory policies, analyzes Delhi’s experience with outage compensation since 2017, and highlights areas for additional economic and policy research on this topic.

The recent ruling of the German Constitutional Court on the ECB was an economic and political bombshell. The deep controversy that resulted – within Germany and on a European scale – illustrates that the ambiguity surrounding the euro area’s legal order and architecture may have reached its limit.

Growing concern around climate change has ignited recent interest in carbon capture, utilization, and storage (CCUS) technologies and generated a series of studies on its global market potential.

Improvements in eco-efficiency—defined as a combination of reducing waste and reducing the use of raw inputs—offer one strategy for reducing greenhouse gas emissions while also lowering production costs. In addition, changes in culture—at the level of individual businesses, countries, or both—can enhance the eco-competitive position of these businesses and countries. This paper describes three examples from Costa Rica and shows how the goal of achieving carbon neutrality can provide incentives for improving eco-efficiency and eco-competitiveness.