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1. Infrastructure Grids and Networks. The Challenges Ahead, amid Security and Efficiency

Author:
Carlo Secchi and Alessandro Gili
Publication Date:
06-2025
Content Type:
Special Report
Institution:
Italian Institute for International Political Studies (ISPI)
Abstract:
In recent years, accelerating geopolitical tensions, economic disruptions, and climate-related disasters have elevated resilience and economic security to the forefront of both global and European policy agendas. In response, strategies such as de-risking have driven substantial investments in redundancy, new trade corridors, and expanded infrastructure – including railway lines, highways, ports, electricity grids, pipelines, and undersea digital cables. This infrastructure forms the backbone of the global economy. It is not only crucial for maintaining competitiveness and supporting growth but also plays a central role in enabling the energy and digital transitions. As such, protecting these systems from hostile actions or third-party interference has become an urgent priority. At the same time, the long-standing trade-off between efficiency and security has grown more pronounced amid increasingly strained international relations. Both governments and private sector actors are now more willing to absorb higher costs in order to enhance the resilience of supply chains and connectivity networks. Against this backdrop, a new paradigm is emerging - one that raises two critical questions: Where will the balance ultimately settle between economic efficiency and security/resilience? And what investment priorities will shape the future of transport, energy, and digital connectivity infrastructure?
Topic:
Security, Infrastructure, Economy, Energy, and Digital Transition
Political Geography:
Global Focus

2. The Sky Is Not the Limit. Geopolitics and Economics of the New Space Race

Author:
Alessandro Gili
Publication Date:
01-2024
Content Type:
Special Report
Institution:
Italian Institute for International Political Studies (ISPI)
Abstract:
Space is a contested domain for its very nature and today it is evidently becoming an increasingly important enabler of economic and military power. An increasing number of actors, infrastructures and technologies deployed in space also raises concerns for safety and security, especially in cyberspace. Many countries are striving to achieve space capabilities and autonomous access to space, and this is having a tremendous geopolitical impact, especially since space is emerging as an increasingly critical military and strategic domain. The development of the new space economy, which is increasingly involving the private sector and many industrial actors and services, will also be a game changer for the international economy. The space race likewise implies disruptive technologies that could contribute massively to the energy and digital transitions, accelerating solutions that could benefit humanity. A new international governance system for space is therefore needed urgently, considering that the current rules are no longer able to respond to a sector evolving at such a rapid pace. Which actors are leading the race? Which economic sectors could benefit the most and what could the new space economy mean for the world? How is space emerging as a military domain against a backdrop of increasing international tensions? What would a new system of global governance for space look like?
Topic:
Economics, Politics, Infrastructure, Geopolitics, Regulation, and Energy Security
Political Geography:
Russia, China, Europe, India, Italy, Global Focus, United States of America, and Space

3. Dealing Government Bonds: Trading Infrastructures and Infrastructural Power in European Markets for Public Debt

Author:
Arjen van der Heide
Publication Date:
02-2024
Content Type:
Working Paper
Institution:
Max Planck Institute for the Study of Societies
Abstract:
Confronted with increased difficulties to raise taxation, high inflation, and pressures to maintain social spending, many rich democracies have increasingly sought to raise funds in financial markets since the 1970s. Using the notion of “infrastructural power,” this paper examines the various ways in which states have become infrastructurally entangled with key actors in financial markets that provide the infrastructure of today’s markets for government bonds. Drawing on twenty-two interviews with debt managers and market participants, and documentary material, the article analyses the rise to prominence of MTS (Mercato dei Titoli di Stato), an electronic platform for trading government bonds that has become a key feature of Europe’s government bond market infrastructure. It traces the emergence of MTS in Italy, its rapid diffusion through Europe and its limited (or even non-existent) success in gaining market share in Germany and the UK. In so doing, this paper finds that some debt management units actively regulate their secondary bond markets to stimulate competition among dealer banks; they “orchestrate” the market for government bonds. Others take a more hands-off approach and only engage with secondary markets mostly as market participants by issuing debt instruments and perhaps buying and selling them in the secondary market. These differences are important for understanding the politics of sovereign debt: they reflect power relations, may impact states’ cost of borrowing and their capacity to withstand moments of fiscal stress.
Topic:
Infrastructure, Financial Markets, Banks, Public Debt, and Bonds
Political Geography:
Global Focus

4. A Structural Equation Model Application For Global Innovation Input Dimension To Affect Output Dimension

Author:
Furkan Fahri Altıntaş
Publication Date:
05-2024
Content Type:
Journal Article
Journal:
Bilgi
Institution:
Sakarya University (SAU)
Abstract:
Purpose - The influence of the innovation input dimen-sion on the innovation output dimension has been meas-ured based on the values of the GII criteria of the coun-tries specified in the Global Innovation Index (GII) re-ports. Methodology/Approach/Design- The effects of the in-novation input dimension on the innovation output di-mension has been measured using a structural equation model with the relevant values indicated in the GII re-ports for the years 2008 to 2022 for each country. Findings Firstly, It has been ascertained that the input dimension of the innovation has a notable and construc-tive effect on the output dimension. Secondly, it has been observed that the criteria contributing the most to the relational structure are 'institutions', 'human capital and research', 'infrastructure', and 'market sophistica-tion'. Originality/Value- The assessment of this study sug-gests a potential contribution to the field of innovation. Additionally, significant revelations have been obtained regarding the augmentation of the global interplay be-tween the innovation input and output of various coun-tries, precisely determining the specific innovation input criteria that require refinement.
Topic:
Markets, Infrastructure, Human Capital, and Innovation
Political Geography:
Global Focus

5. Enhancing Resilience in a Chaotic World: The Role of Infrastructure

Author:
Carlo Secchi and Alessandro Gili
Publication Date:
06-2023
Content Type:
Special Report
Institution:
Italian Institute for International Political Studies (ISPI)
Abstract:
Global infrastructure is at a crossroads. Sustainability and climate-resilience imperatives, new geopolitical headwinds, technology and connectivity issues, as well as the ongoing reconfiguration of global value chains, all call for a rethink in how infrastructure is designed, built and maintained. Leading world economic powers are envisaging new infrastructure plans that could fit in new trade and industrial strategies, with the ultimate goal to increase sustainability, economic competitiveness and resilience. Meanwhile, the use of digital technologies entails new risks for the security of critical infrastructure. How are global value chains changing, and how does this affect infrastructure? How could more resilient infrastructure transform economies? How to enhance the quality and sustainability of new and existing infrastructure? And how to safeguard security in critical infrastructure?
Topic:
Climate Change, Infrastructure, Economy, Sustainability, and Resilience
Political Geography:
Global Focus

6. Digital Dichotomy: Opportunities and Challenges of Digitalization in Fragile Settings

Author:
Moneera Yassien
Publication Date:
08-2023
Content Type:
Policy Brief
Institution:
Clingendael Netherlands Institute of International Relations
Abstract:
This policy brief examines the implications of digitalization in Fragile and Conflict-Affected Situations (FCS). Digitalization has a transformative potential but simultaneously presents distinctive challenges, particularly in FCS characterized by infrastructural limitations, weak governance, and socio-economic disparities. The OECD identifies digitalisation as one of the intensifying factors for the growing inequality between FCS and the rest of the world. However, in FCS the story extends beyond inequalities between countries to inequalities within countries which are more critical for the FCS context as inequalities exacerbate fragility and conflict. This brief highlights three points. The first point explores the dual impact of digitalization on FCS business environments. Digital tools can overcome infrastructure barriers, thereby fostering economic growth and enhancing market dynamics through increased transparency. However, digital technologies create information asymmetry, resulting in widening the gap between those who can participate in the digital economy and those who are left behind, subsequently exacerbating socio-economic inequalities, fostering exploitative working conditions, and potentially escalating instability in fragile and conflict-affected regions.The second point focuses on the labour markets, where digitalization through the online gig economy can create job opportunities and improve labour mobility. However, it can also undermine labour protection and contribute to wage disparity and issues relating to workers’ rights, accentuating inequality and exclusion, particularly in FCS. The third part investigates the role of digitalization in Communications and Information Security. Digital tools can empower communities to resist oppressive regimes but can also be exploited for surveillance and censorship, fuelling conflict and exacerbating social tensions. The brief concludes with policy recommendations aimed at integrating digital inclusion principles in FCS strategies, emphasizing equitable digital initiatives, and adopting conflict-sensitive and equitable digital policies. The recommendations underscore the need for a balanced approach to digitalization, fostering innovation while providing protection from contributing to fragility and conflict.
Topic:
Infrastructure, Fragile/Failed State, Business, Digitalization, and Inclusion
Political Geography:
Global Focus

7. Safety Perceptions Index 2023 Foundation: Understanding the impact of risk around the world

Author:
Institute for Economics and Peace (IEP)
Publication Date:
02-2023
Content Type:
Special Report
Institution:
Institute for Economics & Peace (IEP)
Abstract:
The Lloyd’s Register Foundation Safety Perceptions Index (SPI) provides a comprehensive assessment of worries and experiences of risk across 121 countries. The SPI is a unique body of work, providing a deeper understanding of citizens’ feelings of safety than any other publicly available source. The index is produced by the Institute for Economics and Peace (IEP) on the basis of data from the World Risk Poll, a global survey designed by the Lloyd’s Register Foundation and administered by Gallup. This is the second edition of the SPI. The report analyses two iterations of the World Risk Poll, the first conducted in 2019 and the second conducted in 2021; providing commentary, trends, and insights into these two sets of data. One of the defining features of the research is that one survey was administered prior to the onset of COVID-19 and the other was administered afterwards, allowing for an analysis of the effects of the pandemic on perceptions of risk. This report will be useful in the decades ahead as it will give insight into likely shifts in perceptions of risk for any future pandemics that may occur. The SPI measures two themes, worry about harm and recent experience of serious harm, analysing them across five domains: food and water, violent crime, severe weather, mental health, and workplace safety. These themes and domains are combined into a composite score which reflects perceptions of safety by country and region.The past several years have been characterised by rising feelings of uncertainty worldwide. Central to this shift has been the COVID-19 pandemic, which disrupted the functioning of social institutions as well as patterns of individual and collective behaviour in countless ways.1 Multiple studies have shown that the pandemic brought about increased levels of fear and anxiety across groups.2 Against this backdrop, there are two central findings of the 2023 SPI report. The first is that there were two parallel developments in people’s perceptions of safety over the last several years. On the one hand, the index showed no meaningful change in levels of worry and experience of harm in the aggregate, with an improvement of less than 0.1 percentage points recorded between 2019 and 2021. On the other hand, complementary data from the World Risk Poll points to a notable rise in generalised and non-specific feelings of fear and lack of safety throughout the world, with people becoming more fearful overall but less certain about the sources of potential threats.
Topic:
Economics, Infrastructure, Risk, Peace, Threat Perception, and Public Safety
Political Geography:
Global Focus

8. Climate Financing

Author:
Mohammed Mahmoud
Publication Date:
09-2023
Content Type:
Video
Institution:
Middle East Institute (MEI)
Abstract:
Director of MEI’s Climate and Water Program Mohammed Mahmoud speaks to energy and sustainable infrastructure expert Lucia Fuselli on the role of climate financing - a critical component of initiatives aimed at reducing greenhouse gas emissions and bolstering climate resilience.
Topic:
Climate Change, Energy Policy, Water, Infrastructure, Climate Finance, Sustainability, and Carbon Emissions
Political Geography:
Middle East and Global Focus

9. Provisions on Liability for Decommissioning Upstream Offshore Oil and Gas Infrastructure in Investor-State Contracts

Author:
Martin Dietrich Brauch, Juan Carlos Fernández-Rodríguez, and María José Roa
Publication Date:
08-2023
Content Type:
Special Report
Institution:
Columbia Center on Sustainable Investment
Abstract:
•Decommissioning upstream offshore oil and gas operations involves dismantling infrastructure and equipment and mitigating their environmental impacts when the oil or gas resource becomes depleted or economically unviable. Stricter climate policy and the energy transition away from fossil fuels are likely to accelerate decommissioning processes.  • Domestic statutes, decrees, and regulations that apply to the oil and gas industry are ideally suited for governing decommissioning liability. In principle, these instruments are not subject to negotiation with private entities, reducing their leverage in setting decommissioning obligations, in particular those related to environmental and financial matters. • Oil and gas contracts between the host state and private oil and gas companies may include decommissioning provisions, whether to govern the issue comprehensively where statutory or regulatory frameworks are silent on the issue or to complement them.  • Where statutory and regulatory frameworks are insufficient, contracts should include provisions governing decommissioning as an integral stage occurring at the end of the project (and not as a post-project activity), factoring in the health, environmental, safety, and financial risks it entails throughout the project’s life cycle. • As part of an analysis commissioned by the Institute for Energy Economics and Financial Analysis (IEEFA), this paper examines contractual provisions related to decommissioning or abandonment of offshore oil and gas extraction infrastructure from various jurisdictions for which contracts are available on ResourceContracts.org. • Not every contract includes decommissioning provisions or requires the oil and gas company to develop a decommissioning plan; across contracts that do, the scope of provisions varies significantly. Certain contracts refer to a standard to be applied in decommissioning activities, with varying stringency levels. While some contracts refer to industry best practices, not all of them define what they entail. Not all contracts contain environmental protection and rehabilitation obligations specific to decommissioning.  • Certain contracts require approval and oversight by a state agency to ensure that the oil and gas company prepares and submits an appropriate decommissioning plan and that the decommissioning process takes place as set out in the applicable statutes and regulations, the contract, and the plan itself. The effectiveness of these mechanisms depends on the rigor and regularity with which the government assesses and inspects decommissioning plans and processes.  Where feasible, climate concerns should be added to standard environmental warranties. Contracts could restate environmental and climate-related requirements as forward-looking warranties made by the company to remove any ambiguity about its obligations and the consequences of failing to meet them. • To avoid a scenario where the government must cover decommissioning costs in case of noncompliance by the oil and gas company with its decommissioning obligations, contracts should create a dedicated decommissioning fund, with sufficient money to cover all decommissioning (including expected post-decommissioning) costs, and:  o Require the oil and gas company to fully prefund the decommissioning fund as part of capital and operating expenditures, with contributions assured by the ultimate parent company and beginning before project construction. Determine that funds be set aside in an escrow account dedicated to decommissioning in an independent private banking institution and in the form of a specific financial instrument that guarantees decommissioning without freezing the oil and gas company’s funds to develop the project.  o Require the company to meet the full costs of decommissioning if the offshore extraction infrastructure is transferred to third parties or if the fund is insufficient, extending the liability to the ultimate parent company whenever possible. o Require the parties to renegotiate as needed to adjust decommissioning activities or increase or decrease their costs. o Provide for tax deductibility and cost recoverability of fund contributions, to promote companies’ compliance with their obligation to contribute to the fund.  • Contracts should outline objective conditions for the release of decommissioning liability, along with any subsisting obligations that the oil company and its ultimate parent company retain in perpetuity after decommissioning or after the sale or transfer of the upstream asset. • Contracts should not include non-fiscal stabilization provisions, to ensure that states can enforce any new or amended statutes or regulations governing decommissioning liability, without having to compensate oil and gas companies that are party to pre-existing contracts.
Topic:
Climate Change, Infrastructure, Investment, Sustainability, and Contracts
Political Geography:
Global Focus

10. Community Benefit Sharing and Renewable Energy and Green Hydrogen Projects: Policy Guidance for Governments

Author:
Perrine Toledano, Chris Albin-Lackey, Maria Diez Andres, and Martin Dietrich Brauch
Publication Date:
09-2023
Content Type:
Special Report
Institution:
Columbia Center on Sustainable Investment
Abstract:
This report offers high-level guidance to governments that want to mandate or encourage the use of benefit-sharing arrangements in connection with renewable energy projects, including power and hydrogen generation and grid infrastructure. In the right circumstances, and if appropriately designed and governed, benefit-sharing arrangements can be a useful mechanism to ensure that project-affected communities experience positive outcomes from those projects. Such direct community benefits can play an important role in ensuring communities are treated fairly, while also building local support that can expedite project development.
Topic:
Infrastructure, Renewable Energy, Sustainability, and Benefit Sharing
Political Geography:
Global Focus