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.

The Right Honourable Douglas Alexander offered his views on European security in a discussion moderated by FDP Executive Director Cathryn Cluver.

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.

During the fall 2015 semester, former Minister Hedi Larbi convened eight distinguished experts, each with direct operational and academic experience in Arab countries and economies to participate in a study group titled Rewriting the Arab Social Contract: Toward Inclusive Development and Politics in the Arab World. Over the course of seven sessions during the semester, these experts contributed  to an integrated approach to the historical, social, political, and economic dimensions of the Arab uprisings, focusing in particular on the often overlooked economic and social issues at the root of the uprisings.

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.

Washington Post Opinion Writer and Senior Fellow with the Future of Diplomacy Project, David Ignatius, delivered an address entitled “Covering the Obama Administration in the Fog of Foreign Policy” and led a breakfast seminar with experts, students, and fellows on September 18. He explored current trends in the Middle East, critical factors at play in the negotiations with Iran, the West’s relationship with Russia and positive developments in the US-China relationship.

"The never-ending negotiations about the pending fiscal cliff sometimes amount to nothing more than a dizzying array of numbers. Who can count that high? The negotiations also make us think that the only stastistics that mattered in 2012, or will matter in 2013, involve dollar signs. A year in pictures may be compelling and beautiful, but the year in numbers gives a strong hint of what to anticipate in the year ahead."

African agriculture is at a crossroads. Persistent food shortages are now being compounded by new threats arising from climate change. But Africa also has three major opportunities that can help transform its agriculture to be a force for economic growth. First, advances in science, technology, and engineering worldwide offer Africa new tools needed to promote sustainable agriculture. Second, efforts to create regional markets will provide new incentives for agricultural production and trade. Third, a new generation of African leaders is helping the continent focus on long-term economic transformation.