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1. Investing in a Green Future: Finance, Industrial Policy and the Green transition

Author:
Ramaa Vasudevan
Publication Date:
01-2025
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
We present a framework to assess green climate finance and the pathways to building a climate aligned financial system. This would involve the strategic reorientation of central bank interventions, national development banks and multilateral and regional banks and coherent purposive collaborations between these institutions and interventions to decisively reshape the contemporary global financial system that is out of tune with the long-term imperatives of climate action. Aligning finance to climate goals at the necessary scale, pace and direction requires the calibration of financial flows across three axes: ‘public-private’; ‘real-financial’ and ‘national-international’. Along the first axis the naturedepleting, climate imperiling logic of short-term private profitability needs to be contained in order to pursue the public priorities of climate action. Along the second axis, policy efforts have to be geared to ensuring that financial flows are financing investments in climate mitigation and adaptation and not simply providing more fodder for the global portfolio glut and financial accumulation. Finally, along the third axis warding global funding and support on appropriate terms has to be provided to the most vulnerable countries while buttressing national ownership of the green mission.
Topic:
Climate Change, Industrial Policy, Banking, and Green Transition
Political Geography:
Global Focus

2. Why has the Global Demand for Uranium Increased Recently?

Author:
FARAS
Publication Date:
07-2024
Content Type:
Policy Brief
Institution:
Future for Advanced Research and Studies (FARAS)
Abstract:
As the world transitions to electricity to combat climate change, nuclear energy is poised to become an increasingly vital component of the global energy mix. New nuclear power projects have recently reached unprecedented levels, with more than 20 countries pledging to triple global nuclear capacity by 2050. China alone plans to construct at least 150 new reactors in the next 15 years, investing over USD 440 billion. India has also announced ambitious plans to increase its nuclear capacity from 6,780 megawatts to 22,480 megawatts by 2031. This surge in nuclear energy development persists despite several factors complicating the rise of uranium as a coveted metal. Chief among these are: the significant and steady decline in investment in uranium exploration and mine development over the past decade, particularly following the Fukushima incident in 2011; governments' focus on solar and wind energy; and the recent Western sanctions imposed on Russia, which have complicated the process of importing Russian uranium (especially with a complete ban on imports to the United States). Additionally, high inflation and interest rates have led to increased costs for new and existing uranium mining projects. Furthermore, conflicts in Niger have resulted in the loss of 5% of the world's uranium supply, representing more than 24% of the European Union's uranium imports.
Topic:
Climate Change, Uranium, Nuclear Energy, and Green Transition
Political Geography:
Global Focus

3. The Inequalities-Environment Nexus: Tools for Catalyzing a Just Transition

Author:
Roshni Menon and Paula Sevilla Núñez
Publication Date:
04-2024
Content Type:
Special Report
Institution:
Center on International Cooperation (CIC)
Abstract:
Transitioning to a green economy is imperative for all countries, and many have already started their journeys. The process of planning and executing a transition presents a once-in-a-lifetime opportunity to ensure the movement toward an environmentally sustainable and climate-safe future that benefits society as a whole and occurs in a just and equitable manner. A transition towards a greener economy is fundamentally also a matter of justice: it can save lives and improve livelihoods, as well as address historic injustices. Importantly, a just green transition can address people’s fears and uncertainties about potential negative effects on economies, livelihoods, and the environment, thus preventing backlash to the coming change and instead, widening political support. As part of collaborative effort between the Pathfinders for Peaceful, Just and Inclusive Societies hosted at the Center on International Cooperation (CIC) at New York University (NYU), the International Climate Initiative for a Just Energy Transition (IKI JET) by the German Agency of International Cooperation (GIZ), and the Ministry of Development Planning of the Republic of Indonesia (BAPPENAS), this report was developed in preparation for a workshop on just green transition administered in Bogor, Indonesia on November 2–3, 2023. This resource covers the following topics: Conceptual definition, sector affected, opportunities, and challenges for just transition. Fundamental pillars in catalyzing a just transition, including distributional impact assessments (DIA), an intersectionality-based policy analysis (IBPA) framework, and social dialogue.
Topic:
Climate Change, Environment, Sustainability, Green Transition, and Green Economy
Political Geography:
Global Focus

4. Meeting Skill Needs for the Global Green Transition: A Role for Labour Migration?

Author:
Samuel Huckstep and Helen Dempster
Publication Date:
01-2024
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
The green transition will generate an enormous demand for workers. This paper reviews demand for, and supply of, skills relevant to the green transition in five countries in the Global South and five in the Global North. It focuses on the installation and maintenance workforce needed in two sectors: solar photovoltaic panels and heat pumps. It finds that in almost all of the 10 countries studied, supply of the necessary skilled workers is unlikely to meet demand. In particular, Global North countries, which must cut more emissions sooner, face challenges in obtaining sufficient workers against a backdrop of ageing populations. If green transition targets are to be met, migration is likely to be needed as a complement to domestic training and reskilling. Given that the shortage of green-skilled workers is global, however, migration must be accompanied by support for training and retaining workers at home.
Topic:
Climate Change, Environment, Migration, Labor Issues, and Green Transition
Political Geography:
Global Focus

5. Options for Green-Skilled Migration Partnerships: A Guide for Policymakers

Author:
Helen Dempster and Samuel Huckstep
Publication Date:
06-2024
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
The green transition is widely expected to lead to high levels of net job creation, with roles distributed across the pay and skill spectrum. To fill these roles, many countries of destination will need to use migration alongside their domestic labour supply. Yet few countries of origin have enough skilled workers to meet their own green transition targets. As a result, any green-skilled migration facilitated by countries of destination should be linked with investments in the training, recruitment, and retention of workers into ‘green’ jobs within countries of origin. This paper explores three models that link training and migration in a partnership framework—fixed-term migration; Global Skill Partnerships; and migration with parallel investments—to maximise both economic development and carbon reduction benefits. For each model, the paper outlines key considerations that should be taken into account along with a worked example. It also includes a "guide," walking policymakers through the different models to understand which would best meet the needs of countries of origin, countries of destination, and employers.
Topic:
Economics, Migration, Economic Development, and Green Transition
Political Geography:
Global Focus

6. A Win-Win: Migration Partnerships for an Aging EU Workforce

Author:
Helen Dempster, Pete Baker, and Samuel Huckstep
Publication Date:
09-2024
Content Type:
Policy Brief
Institution:
Center for Global Development (CGD)
Abstract:
European Union (EU) member states have ambitious green transition targets and healthcare strategies in place, requiring the relevant sectors to expand. Yet these sectors are already suffering from large workforce shortages. Expanding skilled migration from third countries to the EU to meet these shortages risks stripping countries of origin of the talent they need for their own goals. Any skilled migration therefore needs to be pursued within partnerships which prioritise meaningful benefits to the country of origin to combat “brain drain”, a “win-win” policy solution. This can be done through the Global Skill Partnership model, wherein the country of destination pays for the training of workers within the country of origin, some of whom migrate. While migration is a member state competence, there is real opportunity for the incoming European Commission to make a global difference in three ways: (1) expand funding for pilot projects; (2) support the development of new partnerships; and (3) be a positive voice for the role of skilled migration.
Topic:
Migration, European Union, Skilled Labor, European Commission, and Green Transition
Political Geography:
Global Focus

7. The Role of Immigrant Workers in the Green Transition

Author:
Kate Hooper and Lawrence Huang
Publication Date:
09-2024
Content Type:
Policy Brief
Institution:
Migration Policy Institute (MPI)
Abstract:
Governments around the world have committed to decarbonizing their economies, but green transition goals will hinge on recruiting workers with the right skills to fill jobs in sectors such as clean energy. Apprenticeship and training programs, including for workers displaced from higher-polluting sectors, will be an important part of meeting this challenge. But it takes time to develop and scale up such programs, and the urgency of cutting global emissions has pushed policymakers and employers to also consider other strategies, including recruiting workers from abroad. This issue brief reviews the evidence on labor shortages in the green economy and on immigrant employment in green and brown (carbon-intensive) jobs. It then assesses the implications for immigration policymaking, including on admissions, immigrant integration, and international labor migration partnerships. Immigration, the authors argue, already plays and will continue to play a key role in the green transition, but there are risks to relying on immigration alone to address these labor shortages. Instead, immigration policy updates should be paired with other investments, including in worker reskilling, credential recognition, and global talent pool development.
Topic:
Migration, Carbon Emissions, Green Transition, and Green Economy
Political Geography:
Global Focus

8. Populist opposition is threatening progress on climate change

Author:
Edoardo Campanella and Robert Z. Lawrence
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics (PIIE)
Abstract:
Driven by the push to decarbonize the world and achieve net zero emissions by 2050, a new anti-elite revolt is in the making in developed economies: If mainstream parties ignore the losers of the green transition as they did with globalization, climate populism not only will slow the adoption of climate policies but could also shake Western democracies. Climate policies are a perfect target for populist rhetoric: They rely on expert knowledge, entail globalist thinking and action, and the counterfactual nature of their benefits—avoiding disasters that would otherwise happen—gives ample fodder for conspiracy theories. And their costs are unevenly shared, hitting those at the bottom of the income distribution significantly harder than those at the top. Climate populism is particularly a problem on the far right, where doubts about science and opposition to international cooperation are strongest. Policies need to deal with this rising political opposition. Given the depth of their grievances, and as it is often the case with populism, it is unlikely that voters antagonistic to climate policies will be persuaded by rational arguments. What will change their behavior are economic incentives. If green technologies are cheaper than fossil fuel ones, they will be adopted to save money rather than the planet. Thus the costs of the green transition need to be reduced through more open trade in the short run and more innovation in the long run. In addition, those who support climate policies need to be mobilized through more engaging political strategies, more emotional narratives, and more bottom-up policy approaches.
Topic:
Climate Change, Populism, Decarbonization, and Green Transition
Political Geography:
Global Focus

9. Logistics in Transition. Exploring Geopolitical, Economic, and Technological Trends

Author:
Carlo Secchi and Alessandro Gili
Publication Date:
05-2024
Content Type:
Special Report
Institution:
Italian Institute for International Political Studies (ISPI)
Abstract:
International cooperation is paramount for building global connectivity and resilient logistic systems. Geopolitical shifts and climate change pose challenges that could disrupt the effective functioning of logistics. This underscores the need for policymakers and operators to implement mitigation measures that also enhance the security of supplies. Amidst global turmoil, diversification and redundancy of transportation systems and modes are crucial, with the security of supplies serving as the backbone for the smooth functioning of the global economy. In a geopolitically charged context, the challenges of the digital and green transition remain at the forefront. How can the resilience of value chains be increased in the face of geopolitical factors, while simultaneously navigating the dual transition? How can logistics adapt to and benefit from the new international wave of potentially protectionist industrial policies? How can risks be reduced, and what are the strategies for Europe, Italy, and the involved enterprises?
Topic:
International Cooperation, Economy, Logistics, Supply Chains, Green Transition, and Digital Transition
Political Geography:
Global Focus

10. Redressing environmental harm? A 'corporate sovereignty' problem

Author:
Stefano Porfido
Publication Date:
05-2023
Content Type:
Special Report
Institution:
Centre for International Environmental Studies, The Graduate Institute (IHEID)
Abstract:
The transition towards a low-carbon economy is an epoch-defining goal. However, this transition develops following traditional patterns of business that are intrinsically environmentally harmful as they rest upon profit-oriented strategies of commodifying natural resources. By taking the anthropological notion of "corporate sovereignty", this contribution discusses the unsustainability of private corporates' property a-like structures of power over natural resources and frames them within forms of economic governmentality. The paper concludes by stressing the need for a cultural change to occur to back the transition towards a novel model of sustainable business, i.e. of "business within the Heart's limits".
Topic:
Environment, Government, Natural Resources, Business, Institutions, Sustainability, Carbon Emissions, Corporations, and Green Transition
Political Geography:
Global Focus