Environment & Climate Change

Sovereign wealth funds (SWFs) have traditionally been created to recycle excess reserves from natural resource or non‐commodity revenues. However, in recent years funds are being established under conditions of capital scarcity with objectives to contribute domestic economic development, often through the buildout of national infrastructure programs. Such trends in new fund creation represent a fundamental shift in the sovereign wealth fund paradigm and raise serious questions about how these entities are to be capitalized and also the implications of capitalization models on their sustainability. This study examines the recent evolution of SWF models focused on economic development. Its analytic focus is drawn, in particular, to countries that are neither endowed with oil wealth, nor otherwise enjoy export surpluses to be used to capitalize a development‐oriented SWF. While this study is relevant to and expands the scope of the broad literature on SWFs, its specific contribution is as a focused analysis of how SWF funding sources impact achieving long‐term financial and socio‐economic development objectives.

Indian Prime Minister Narendra Modi traveled to Washington last week, making his fourth trip to the United States since taking office just two years ago. India and South Asia Program Fellow, Ronak Desai examines the strategic approach to India's relations with the United States.

Cambridge, MA – The Belfer Center for Science and International Affairs has named Daniel Schrag, Sturgis Hooper Professor of Geology and Director of the Center for the Environment at Harvard University, to lead its Science, Technology, and Public Policy program. STPP, one of Harvard's most collaborative and cross-disciplinary programs, is renowned world-wide for its cutting-edge research on technology innovation, nuclear non-proliferation and safety, climate science and policy, cybersecurity, and globalization and development.

Hosting speakers such as US Secretary of State Henry A. Kissinger, President of Turkey Dr. Abdullah Gül, and China's Ambassador to the US Cui Tiankai, the Future of Diplomacy Project has had an amazing year in 2014, pursuing its mission to promote public understanding of modern diplomatic practice in response to complex international issues.

The Fall/Winter 2014/15 issue of the Belfer Center newsletter features recent and upcoming activities, research, and analysis by members of the Center community on critical global issues. This edition highlights discussions at the Belfer Center about Iran and its nuclear program. Former U.S. National Security Advisor and Center Senior Fellow Thomas Donilon and former Israeli National Security Advisor Yaakov Amidror added their voices to Center debate on this issue during a Harvard Kennedy School forum on a possible deal to prevent development of nuclear weapons in Iran.

In "Stopping ISIL," a number of Belfer Center security experts weigh in on what must be done in the next year to stop the spread and brutality of the Islamic State (ISIL). Graham Allison, Nicholas Burns, Chuck Freilich, Nawaf Obaid, Ariane Tabatabai, Payam Mohseni, David Petraeus, Gary Samore, and Barak Mendelsohn suggest solutions to this strategic challenge.

And much more...

A conversation with Jan Eliasson, UN Deputy Secretary-General, hosted by Ambassador Nicholas Burns.

Following Hurricane Katrina, the Belfer Center's Broadmoor Project was developed by then Belfer Center Senior Fellow Doug Ahlers to work with the Broadmoor neighborhood to rebuild the devastated community. Highly successful, Broadmoor is now a model of recovery, almost 90 percent rebuilt, with a new charter school, library, and community center. (See Broadmoor Project.)

With Ahlers vision and leadership, the Broadmoor Project has also helped other disaster-struck communities. Here, Ahlers describes how the Broadmoor model is currently assisting in the recovery of three Chilean communities nearly destroyed by the earthquake and tsunami of 2010. The genesis of the Recupera Chile initiative is described below.

The Summer 2013 issue of the Belfer Center newsletter features recent and upcoming activities, research, and analysis by members of the Center community on critical global issues. This edition highlights the Belfer Center’s expanding work on complex cybersecurity issues and Middle East challenges, offers reflections on the role of the U.S. in Iraq, and spotlights work being done by the Center and its affiliates on environment and energy issues.