Search

Begin New Search Topic Governance Political Geography Global Focus Content Type Policy Brief Publication Year within 5 Years

1. Energy investment in a time of inflation

Author:
Charles Lichfield and Joseph Webster
Publication Date:
01-2023
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
High rates of inflation across the world are forcing central banks to reluctantly tighten monetary policy despite accompanying recession risks. Moreover, restricted credit access could jeopardize energy investments, particularly for capital-intensive clean energy projects, potentially rendering the world more vulnera­ble energy to price shocks, which are a significant contributor to the current crisis. This paper briefly considers the macroeconomic drivers of inflation in late 2022, including Russia’s war in Ukraine and uncertainties around energy supply, supply-chain resets, and lingering COVID-19 disruptions, before examining the persistent energy underinvestment of the past decade and how this has left markets exposed to varying degrees. As such, this paper also considers how private capital can accelerate cleaner energy adoption, suited to different markets’ unique conditions and needs. Bor­rowing costs will rise, but this doesn’t have to bring the transition to a standstill. With the Great Moderation of low volatility, interest rates, and inflation perhaps a relic of the past, assets offering inflation protection, such as infrastructure, may become increas­ingly attractive to investors. There is a fear that global inflation will sharply curtail energy investment into emerging markets. The fear is justified. Higher interest rates in developed markets mean higher rates of return which will lure emerging markets investors back to the US and Europe. Still, it’s not all bad news for emerging markets. Quasi-state actors like Pension and Sovereign Welfare funds are interested in very long term, high-yield projects—two criteria to which emerging market energy infrastructure correspond. Disruptions to interest rates and inflation, triggered in part by energy underinvestment, will cause disparate impacts in different markets. Inflation is not, perhaps, everywhere and always a mone­tary phenomenon. Energy investment faltered from 2014 to 2020, despite low interest rates. Meanwhile, aggre­gate supply shocks—first due to COVID, then from Putin’s invasion of Ukraine—have pressured energy production and prices, raising inflation and necessitating interest rate hikes. The consequences of persistent energy underinvest­ment are now becoming apparent. The need for new energy infrastructure cannot be met without private investment. This was the case when infla­tion was lower; it is even more important now.
Topic:
Environment, Markets, Oil, Governance, Gas, Economy, Investment, Inflation, and Energy
Political Geography:
Global Focus

2. Facing the next public health emergency: How do we know how (un)prepared we are?

Author:
Christian Haddad and Hugh Schmidt
Publication Date:
07-2023
Content Type:
Policy Brief
Institution:
Austrian Institute for International Affairs (OIIP)
Abstract:
In the realm of political preparedness, numerous benchmarks, metrics, and best practice models have emerged as integral sites in the ongoing debate. Taking the Global Health Security Index as a specific example, this paper delves into the advantages and disadvantages of such global security rankings. This analysis aims to explore the potential uses and drawbacks of employing metrics to evaluate and modify (inter-)national preparedness plans. Situating this discussion within the broader context of the escalating significance of crisis preparedness and management, particularly in the face of acute disruptions to vital infrastructures and the immense costs they entail, as well as their adverse impact on public health and societal safety. However, the findings of this analysis reveal a notable political and strategic risk associated with an excessive reliance on these metrics. It is important to recognize that these metrics not only rely on robust scientific methodologies but also rest upon selective assumptions about the world and the definition of threats. The case of the Global Health Security Index serves as an example, as the assumptions underpinning these metrics have proven inaccurate in the face of an actual pandemic. Consequently, overconfidence and misguided approaches to crisis preparedness have ensued. Additionally, this work offers a concise historical overview of preparedness thinking, outlines the field of Global Health Security, presents the existing metrics employed, and critically reflects on these tools. While metrics provide valuable insights, they should be approached with caution and an awareness of their limitations. By adopting a critical lens and recognizing the political dimensions inherent in these metrics, policymakers can make more informed decisions and develop more effective preparedness plans in an ever-evolving world of crises.
Topic:
Security, Governance, Public Health, COVID-19, and Global Health
Political Geography:
Global Focus

3. Governing Outer Space – legal issues mounting at the final frontier

Author:
Hjalte Osborn Frandsen
Publication Date:
02-2023
Content Type:
Policy Brief
Institution:
Danish Institute for International Studies (DIIS)
Abstract:
In 2022, the private space firm SpaceX successfully launched 61 rockets, adding hundreds of satellites to its burgeoning, globe-spanning mega-constellation. SpaceX´s Starlink-project now comprises more than 3,000 satellites. For comparison, the European Space Agency launched six rockets in 2022 and operates less than 50 satellites in total. In the span of a few years, private space companies have dethroned nation states as the dominant actors in outer space. Today the vast majority of satellites are owned and controlled by commercial companies. During the first months of the Russian assault on Ukraine, several commercial space companies stepped in to provide vital satellite images and space-based Internet in support of the Ukrainian defense. This exemplifies the three currently dominant trends of human space activities: expansion, securitization and privatization. The global space industry is undergoing the most fundamental and swift changes since the original space race ended when Neil Armstrong placed the first boot marks on the moon in 1969. The rapid changes raise a number of serious governance issues in areas such as national security, environmental protection and the rule of law in outer space. Denmark, Europe and the international community at large all have an acute interest in insisting on space being a global commons in which conduct can and should be regulated to benefit all of humanity – not just a few profit-seeking billionaire-owned space companies. Developments in the space industry are fast and accelerating. As with other global governance issues, like climate and cyber issues, achieving global accord on new regulations for space activities will be difficult and time-consuming, so prudent policymakers should get started right away.
Topic:
Security, Defense Policy, Governance, Law, and Space
Political Geography:
Global Focus

4. Climate change and security: Preparing for different impacts

Author:
Emma Hakala
Publication Date:
09-2023
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
As the disastrous impacts of climate change are already visible, the need to respond to them becomes increasingly urgent. Yet there is still a lack of understanding about the comprehensive security impacts of climate change. Climate security impacts tend to be complex as they often take shape through chains of compounded effects. This makes them difficult to fully comprehend, and in the absence of adequate situational awareness, policy responses are likely to fall short. The paper aims to contribute to a better understanding of climate security by providing concrete illustrations of potential direct, cascading and transition impacts. Impacts like forest fires, a heatwave in Europe and increased wind energy production all challenge Finland’s security in various ways, such as threatening human health and livelihoods, fuelling political polarisation and creating new supply chain risks. Strategic foresight, international cooperation and well-planned climate policy can help to counteract climate risks.
Topic:
Security, Defense Policy, Climate Change, and Governance
Political Geography:
Global Focus

5. Cities as global actors: Bringing governance closer to the people

Author:
Katja Creutz
Publication Date:
02-2023
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
Globalization and extensive urbanization worldwide have brought cities to the forefront of global governance in a multilateral system designed and created for states. Cities have come to exercise power due in part to the inadequacy or ineffectiveness of inter-state action, but also because their democratic nature and immediate connection to the population make them legitimate actors. Cities are also home to many problems of a global nature, such as greenhouse gas emissions, pandemics, and sustainability. This makes them uniquely situated to address these challenges. City diplomacy has become a prevalent feature in many global policy issues, ranging from climate change to development cooperation. The primary tool through which cities act is networking, with hundreds of global city networks pursuing the interests and values of their constituencies. By demanding a seat at the table where global affairs are decided upon, cities challenge and complement the state-based international order, in addition to which they stretch the basic concepts and constructs of both international relations and international law.
Topic:
Globalization, International Law, Governance, Democracy, and Cities
Political Geography:
Global Focus

6. Embedding Reintegration Assistance for Returning Migrants in the Local Context: The Role of Referrals

Author:
Ravenna Sohst and Camille Le Coz
Publication Date:
06-2022
Content Type:
Policy Brief
Institution:
Migration Policy Institute (MPI)
Abstract:
The objectives of European reintegration programs for migrants returning to their countries of origin have expanded in recent years. Reintegration assistance, instead of being delivered as standardized support packages, is increasingly being designed to take into account the multiple dimensions of returnees’ reintegration—economic, social, and psychosocial—and the context of the communities in which they settle. As these programs become more complex, it has also become clear that no one service provider can offer all of the various services necessary to meet returnees’ diverse needs and profiles. One way to broaden the range of supports available to returning migrants and embed reintegration assistance into the local context is to refer returnees to local actors, including government agencies and civil-society organizations. Such referrals, particularly when combined with capacity-building assistance for local partners, can help connect returnees with tailored, long-term support. Yet, there is no consensus across reintegration programs as to how referral mechanisms should be organized, what types of services referral partners should deliver, the level of budget support different actors need, and how their work should be monitored. This policy brief explores the role of referrals in reintegration programming, offering a typology of approaches taken across programs to date. It also discusses common challenges, emerging good practices, and promising next steps to improve the local embeddedness of reintegration assistance.
Topic:
International Cooperation, International Organization, Migration, Governance, Integration, Deportation, Reintegration, Immigration Policy, and Illegal Immigration
Political Geography:
Europe and Global Focus

7. Reassessing Recruitment Costs in a Changing World of Labor Migration

Author:
Kate Hooper
Publication Date:
11-2022
Content Type:
Policy Brief
Institution:
Migration Policy Institute (MPI)
Abstract:
Recent years have seen national governments, multilateral organizations, civil society, and private-sector groups take steps to promote the fair and ethical recruitment of migrant workers, including efforts to reduce or eliminate recruitment costs. High recruitment costs can result in workers taking on a financial burden that can only be serviced through high-interest loans or debt bondage, placing them in a more vulnerable position and curtailing the income they can then save or send to loved ones via remittances. Still, progress to address recruitment costs has been uneven to date, and the pandemic has been a major setback. The public-health crisis has seen some existing costs rise or fluctuate wildly and new ones emerge (e.g., fees associated with COVID-19 testing and quarantine), with particularly pronounced effects in low- and middle-skilled sectors and informal employment. This has put working abroad out of reach for some would-be migrants while exposing others who travel abroad for work to new risks. This policy brief explores how the pandemic has affected costs for migrant workers at every stage of their journey, with a focus on new public-health measures and other additional expenses. It also reflects on what these developments mean for future efforts to promote fair and ethical recruitment. The brief is the first publication resulting from a multiyear research partnership between MPI and the SDC’s Thematic Section Migration and Forced Displacement to support the development of global solutions for migration-related challenges.
Topic:
International Cooperation, International Organization, Labor Issues, Governance, Employment, Economy, COVID-19, Recruitment, Immigration Policy, and Recession
Political Geography:
Global Focus

8. Gender Equity to Improve Immunization Services

Author:
Katherine E. Bliss and Alicia Carbaugh
Publication Date:
09-2022
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies
Abstract:
The Covid-19 pandemic has underscored the importance of a strong health workforce to outbreak response, as well as of vaccine delivery to prevent further outbreaks. Women and men providing care, transporting supplies, analyzing data, and delivering vaccines to patients and their families have all contributed to pandemic-related activities while maintaining a focus on routine health programs. Women comprise an estimated two-thirds of the formal health workforce worldwide—and a high percentage of the unpaid health workforce as well. Yet gender inequities, including those related to training, compensation, and professional advancement, limit opportunities for female health workers to perform their duties and develop professionally, with implications for quality of care and health outcomes. By prioritizing gender equity within their own health workforces; gathering data on gender dynamics within the immunization programs they support; and supporting initiatives to train, retain, and advance the careers of female immunization workers, donor governments—including the United States, working with bilateral and multilateral partners—can strengthen quality of care, improve global immunization coverage, and reinforce health security in the long run.
Topic:
Governance, Medicine, Equality, Immunization, and Gender
Political Geography:
Global Focus

9. Transparency in multilateral climate governance: Ranking countries by the Climate Transparency Adherence Index

Author:
Romain Weikmans and Antto Vihma
Publication Date:
03-2022
Content Type:
Policy Brief
Institution:
Finnish Institute of International Affairs
Abstract:
Reporting and review arrangements are often portrayed as vital for keeping countries informed about each other’s climate intentions and actions. They are set in order to enhance accountability and mutual trust, ultimately securing more ambitious climate actions. This Briefing Paper provides an updated analysis of state engagement with the recent reporting requirements under the United Nations Framework Convention on Climate Change (UNFCCC). The analysis shows that the performance of countries continues to vary greatly. The full data of the research is available to be requested from the authors. Understanding current trends of engagement with reporting is crucial for informing the effective implementation of the Paris Agreement. Indeed, the Agreement calls for an “Enhanced Transparency Framework” to be implemented by 2024. This represents a major ramping up of transparency obligations, especially for developing countries. Significant challenges lie ahead in the implementation of ever more stringent transparency requirements. Political reluctance to report on national climate actions (or lack thereof) to multilateral institutions such as the UNFCCC is a likely obstacle to the functioning of the new transparency framework. Technical obstacles may also limit the disclosure of information.
Topic:
Climate Change, Environment, Governance, Multilateralism, and Transparency
Political Geography:
Global Focus

10. The ABCs of Sovereign Debt Relief

Author:
Rakan Aboneaaj, Jocilyn Estes, and Clemence Landers
Publication Date:
10-2022
Content Type:
Policy Brief
Institution:
Center for Global Development
Abstract:
We are living in a time when many countries face heightened debt vulnerabilities. Already high before the pandemic, debt levels reached a 50-year peak following the growth in government spending to combat COVID-19. Debt is not inherently bad; borrowing can allow countries to finance vital government investment. But unsustainable levels of debt can have devastating consequences for a country’s population, crowding out government spending on even basic necessities including food, medicine, and fuel imports. In Sri Lanka, for example, 71 percent of government revenue was spent on debt service before the country defaulted. Even where the tradeoff is not so dire, unsustainable debt service can limit productive investments in infrastructure, education, healthcare, and other sectors, hampering the economic growth necessary to reduce a country’s debt burden. After a decade-long period of low borrowing costs, a confluence of rising interest rates, inflation, and commodity shocks have raised the likelihood of overlapping debt crises in developing countries. The International Monetary Fund (IMF) now estimates that 30 percent of emerging market countries and 60 percent of low-income countries could face trouble paying down their debts or will soon. There is no international bankruptcy mechanism for countries that default on their external obligations. Instead, countries have historically depended on a patchwork of precedents, contracts, and conventions to bring creditors to the table for debt relief negotiations. The United States has a legacy as the lead architect of large global debt relief initiatives, from the Brady Bond plan for Latin America to the Heavily Indebted Poor Countries (HIPC) Initiative that kickstarted debt relief for poor countries in the 1990s. However, the global creditor landscape has changed significantly over the past decade. Low-income sovereigns’ largest creditors today—China and private bondholders—operate under much different principles than the leading bilateral creditors of the past, making the traditional norms and structures less effective for present debt challenges. The objective of the international financial architecture—historically overseen by the IMF and its shareholders— will be to corral these new creditors into a cooperative arrangement to deliver on debt relief.
Topic:
Debt, Development, Governance, Credit, and Sovereign Debt
Political Geography:
Global Focus