Energy

Juliette Kayyem writes that deliberately accepting some risks, and then being prepared when disaster strikes, will serve human societies better than pretending that perfect safety is achievable. We cannot prevent an earthquake or a tsunami, but we have control over how much death and destruction it causes.

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.

Stephan Walt writes that Trump's foreign-policy instincts might be more sound—but he has forfeited the chance to lead.

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.

This policy brief emphasizes that the European Green Deal's effectiveness in a post Covid-19 world will require the involvement of strategic partners, especially the US. In the context of a potential US withdrawal from the Paris Agreement and the consequential vacuum, it will be even more important to engage the US in implementing the GD. In light of divergence between the US and the EU during past climate negotiations (e.g. Kyoto, Copenhagen, and Paris), we suggest a gradual approach to US engagement with GD initiatives and objectives.

But if President Trump doesn’t overcome his go-it-alone mind-set and take immediate steps to mobilize a global coalition to combat the Covid-19 pandemic, its spread will cause a catastrophic loss of life and make it impossible to restore normalcy in the United States in the foreseeable future.

The world is now in the midst of a once-in-a-century global health pandemic that threatens the lives and livelihoods of billions. This coronavirus transcends borders and nationalities, and until a vaccine is found, a cluster of cases in any one country will endanger the health and safety of people everywhere. For this reason, there has rarely been a time in which the fates of the world's nations were so clearly linked and where American leadership and purposeful international coordination were so urgently required.

Dear America,

In London there is much talk of a new “spirit of the Blitz” in the face of another deadly threat to us all.

But 80 years on, that spirit is expressing itself very differently. When the Luftwaffe bombs fell, to continue with normal life was an act of patriotic defiance. Now as COVID-19 spreads, to continue with normal life is an act of punishable deviance.

How does the coronavirus change international relations? After the corona crisis, little will remain at the international level as it was before. A change in the balance of power is already becoming apparent: countries that are better able to cope with the crisis are likely to expand their influence, especially China, others will lose. And the border barriers within the EU represent a massive burden for cooperation in the EU. How can and should states react to this? Cathryn Clüver-Ashbrook, political scientist and expert for international and European relations at Harvard University, analyzes this in an interview.

To accelerate the global transition to a low-carbon economy, all energy systems and sectors must be actively decarbonized. While hydrogen has been a staple in the energy and chemical industries for decades, renewable hydrogen is drawing increased attention today as a versatile and sustainable energy carrier with the potential to play an important piece in the carbon-free energy puzzle. Countries around the world are piloting new projects and policies, yet adopting hydrogen at scale will require innovating along the value chains; scaling technologies while significantly reducing costs; deploying enabling infrastructure; and defining appropriate national and international policies and market structures.

What are the general principles of how renewable hydrogen may reshape the structure of global energy markets? What are the likely geopolitical consequences such changes would cause? A deeper understanding of these nascent dynamics will allow policy makers and corporate investors to better navigate the challenges and maximize the opportunities that decarbonization will bring, without falling into the inefficient behaviors of the past.