Norway as an anergy actor in Europe and in the Baltic Sea region
A brief intervention at the conference organized by the Institute of Central Europe in Lublin, Poland on the role of Norway as an energy actor in Europe and in its role in the Baltic Sea region, on line webinar
Sovereign Wealth Funds and Public Financing for Climate Action
The 2018 report of the Intergovernmental Panel on Climate Change on limiting global warming to 1.5 °C highlights the importance of access to capital for reaching this target. As directly or indirectly government-owned and -controlled investment vehicles with a an intrinsically long-term perspective, sovereign wealth funds have an self-interest in preventing climate change and its long-term impacts on the world economy and their broader portfolios. Other investors may choose to look upon climate change as an externality as long as they are not forced to take it into account. By contrast, sovereign wealth funds are perhaps the investor class for whom it makes most sense to internalize the consequences of climate change, as their long-term investment horizon makes them directly vulnerable to its consequences. Nonetheless, the number of sovereign wealth funds that engage in such investments and the proportion of their capital that is directed towards green financing remains small. This chapter discusses the operational aspects that make sovereign wealth funds good candidates of public green financing and the limitations that they face in this process. The discussion concludes with useful policy and governance considerations.
The new oil? The geopolitics and international governance of hydrogen
While most hydrogen research focuses on the technical and cost hurdles to a full-scale hydrogen economy, little consideration has been given to the geopolitical drivers and consequences of hydrogen developments. The technologies and infrastructures underpinning a hydrogen economy can take markedly different forms, and the choice over which pathway to take is the object of competition between different stakeholders and countries. Over time, cross-border maritime trade in hydrogen has the potential to fundamentally redraw the geography of global energy trade, create a new class of energy exporters, and reshape geopolitical relations and alliances between countries. International governance and investments to scale up hydrogen value chains could reduce the risk of market fragmentation, carbon lock-in, and intensified geo-economic rivalry.
Russian Renewable Energy: Regulations and outcomes
This chapter reviews the development of the legal framework for renewable energy in Russia and discusses the current state of renewable energy in the country. The Russian support scheme for renewable energy is elaborated in detail for both the wholesale and retail energy markets, and the outcomes of the policy are assessed based on the current state of renewable energy in Russia.
The geopolitics of renewables: New board, new game
This policy perspective sums up the main input of four members of the Research Panel for IRENA's Global Commission on the Geopolitics of the Energy Transformation. The geographic and technical characteristics of renewable energy systems are fundamentally different from those of coal, oil, and natural gas. This has implications for interstate energy relations and will require early attention if states are to exploit opportunities and address challenges. We point to six clusters of renewables' geopolitical implications that will manifest themselves over different time horizons. Overall, a generally positive disruption is foreseen, but also one that raises new energy security challenges. Moreover, while renewables will eventually render energy relations more horizontal and polycentric, achieving a smooth transition will not be easy. Renewables alter arenas of energy interaction, transforming markets and shifting trade partners, and reshape patterns of cooperation and conflict among countries. One possible outcome is a world of continental-sized grid communities made up of prosumer countries that continuously strategize between secure domestic production and cheap imports. Political action is required to manage, inter alia, industrial competition, stranded assets, availability of electricity and storage capacity, critical materials, and rivalry over ownership of key infrastructure assets.
The missallocation of climate research funding
The window of opportunity for mitigating climate change is narrow. Limiting global warming to 1.5 °C will require rapid and deep alteration of attitudes, norms, incentives, and politics. Some of the key climate-change and energy transition puzzles are therefore in the realm of the social sciences. However, these are precisely the fields that receive least funding for climate-related research. This article analyzes a new dataset of research grants from 333 donors around the world spanning 4.3 million awards with a cumulative value of USD 1.3 trillion from 1950 to 2021. Between 1990 and 2018, the natural and technical sciences received 770% more funding than the social sciences for research on issues related to climate change. Only 0.12% of all research funding was spent on the social science of climate mitigation.
The Geopolitics of Fish in the Arctic
Climate change and declining sea-ice in the Central Arctic Ocean (CAO) has brought concerns that fish stocks may expand into the high Arctic. While the sub-Arctic seas of the North Pacific and the North Atlantic have abundant fish resources subject to major commercial fisheries for generations, the CAO has little or none. Concerns that fish stocks could expand into the CAO provided the impetus for negotiating the 2018 Agreement to Prevent Unregulated Fishing in the Central Arctic Ocean. This policy brief discusses efforts to address challenges associated with climate change and fish in the Arctic, and makes recommendations for policy action.
Multilateral Cooperation and Climate-related Security and Development Risks
On 3 and 4 March 2020, a sub-regional meeting was hosted by Senegal and Norway in Dakar. The meeting formed part of an ongoing special initiative by African and Nordic countries to strengthen multilateral cooperation and a rules-based international order. The topic of this meeting was “multilateral cooperation to address climate-related security and development risks in Africa with a focus on Sahel”. This report is the co-chair’s summary of the proceedings of the UN75 Africa-Nordic Sub-regional Meeting.
10 new policy briefs on ASEAN countries and climate
Out now: 10 policy briefs covering each ASEAN country as part of the project ACCEPT.