Environment & Climate Change

Maintaining bitcoin and other cryptocurrencies causes about 0.3 percent of global CO₂ emissions. That may not sound like a lot, but it’s more than the emissions of Switzerland, Croatia, and Norway combined. As many cryptocurrencies crash and the FTX bankruptcy moves into the litigation stage, regulators are likely to scrutinize the crypto world more than ever before. This presents a perfect opportunity to curb their environmental damage.

The good news is that cryptocurrencies don’t have to be carbon intensive. In fact, some have near-zero emissions. To encourage polluting currencies to reduce their carbon footprint, we need to force buyers to pay for their environmental harms through taxes.

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?

Stephen Walt looks back at the Trump administration as four years of big ambitions, a handful of successes—and many more failures. He concludes that it was more than a missed opportunity because Trump's blunders have left the United States in much worse shape than when he took office. 

Joseph Nye writes that the world is increasingly obsessed with the ongoing power struggle between the United States and China. But the technology-driven shift of power away from states to transnational actors and global forces brings a new and unfamiliar complexity to global affairs.

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.

The nine issue papers contained in this report were proposed and written by graduate students at the Belfer Center for Science and International Affairs at Harvard Kennedy School. They present fact-based, nonpartisan analysis to help focus the next Administration on the key policy debates that must be resolved. And, they aim to create a platform for our students to engage with the most pressing policy issues of the day as they continue their careers in public service.

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.

For decades, Singapore has been a premier refinery hub and gatekeeper between Asia and the Middle East, but its position is increasingly threatened as producer countries are shifting into the downstream activities that helped make Singapore the “Houston of Asia”. Oil and petrochemicals drive about one quarter of Singapore’s net exports. Greater competition in the global oil and gas value chain could take a heavy toll on the city-state’s national budget and economic growth prospects.