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41. Securing Regional Solar Supply Chains: Determinants and Preparedness of the Northeastern Region of India and ASEAN

Author:
Prabir De, Komal Biswal, and Venkatachalam Anbumozhi
Publication Date:
11-2024
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
Renewable energy contributes to the acceleration of the energy transition, supports global environmental mitigation, and helps meet sustainable development goals. Energy connectivity of India’s Northeastern Region (NER) with neighbouring countries particularly ASEAN assumes critical importance for accelerating economic integration. NER can play a three-dimensional role as power producer, exporter, and transit provider provided a quadrangular approach to build energy linkages and promote integration is consciously put in place. To understand whether the NER states are capable enough to take forward the solar supply chain development and bolster the ASEAN-India engagements in solar energy sector, this study has designed a state-level index of solar supply chain development by factoring in seven parameters, namely, (i) economic situations, (ii) environmental factors, (iii) spread of connectivity, (iv) financial enabling conditions, (v) mobility, (vi) human development, and (vi) social cohesion, which directly or indirectly influence the solar supply chain development in India. The results show that a clean and decent environment is must for development of solar supply chain. In addition, the study suggests that there is a need to improve the solar supply chain capability in the NER to enhance the economic growth. Leveraging policy support and reinvigorating existing institutions and creating new ones are imperatives for predicting the solar supply chain in the NER. This indexing may help track the trends, allowing for more informed decision-making in securing regional solar supply chain.
Topic:
Renewable Energy, ASEAN, Solar Power, Supply Chains, and Energy
Political Geography:
India and Asia

42. Policy Recommendation to Achieve a Carbon-Neutral Economy: The Case of Corporate Governance and Carbon Performance in Malaysia’s Smart Cities

Author:
Siti Indati Mustapa, Noor Raida Abd Rahman, Amar Hisham Jaaffar, Nor Salwati Othman, and Syarifah Mardhiah Syed Salim
Publication Date:
07-2024
Content Type:
Working Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
This study explores the role of corporate governance in carbon-intensive and non-carbon-intensive companies within Malaysian smart cities. The paper aims to understand the challenges and impacts of corporate governance on carbon and financial performance. In the first stage, carbon emissions data from 51 Bursa Malaysia-listed companies were analysed, revealing that corporate governance had no significant impact on carbon and financial performance. However, variations were noted in carbon-intensive industries. Liquidity emerged as a key factor positively affecting carbon performance, while firm size and market-to-book value were the main drivers of financial performance. In the second stage, a survey of 256 firms highlighted a high level of awareness regarding the significance of carbon reporting practices. Challenges included complexity regarding carbon reporting and knowledge limitations. The study advocates for the centralisation of carbon accounting standards, sharing best practices, and fostering of global collaboration to bolster effective climate action. These findings offer empirical evidence crucial for informing policymakers, companies, investors, and regulators alike. Future research could expand with larger samples, explore digital technology’s role in smart cities, and compare carbon reporting practices globally.
Topic:
Climate Change, Economy, Smart Cities, Carbon Emissions, Corporate Governance, and Energy
Political Geography:
Malaysia, Asia, and Southeast Asia

43. Risks and challenges to oil and gas markets in the current Middle East conflict

Author:
Colby Connelly, Emily Stromquist, Karen Young, Yesar Al-Maleki, and Nikolay Kozhanov
Publication Date:
03-2024
Content Type:
Video
Institution:
Middle East Institute (MEI)
Abstract:
The Middle East Institute’s (MEI) Program on Economics and Energy cordially invites you to a panel discussion of the war-time threats to energy transit along the Red Sea corridor and to regional production facilities, within the context of broader supply-and-demand dynamics. Since Hamas’ Oct. 7 terrorist attack on Israel and subsequent war in Gaza, hydrocarbon prices have held relatively stable, although attacks by Houthi militants on shipping in the Red Sea could cause long-term market shifts and geographic segmentation. Why have we seen such a low impact on oil prices to date despite profound regional instability? What explains natural gas prices staying at historic lows? Are Gulf oil facilities at risk? What is the outlook for gas production in the Eastern Mediterranean? And how is OPEC considering outside supply competition and near-term demand? To answer these and other questions, MEI has convened five top US and regional energy and geopolitical risk analysts, who include contributors to MEI’s new edited volume Energy Transitions in the Middle East. They will reflect on their assessments of oil and gas markets prior to Oct. 7 as well as share their views on the current risks and challenges for fossil fuel producers in the region.
Topic:
Economics, Markets, Oil, Energy, and Natural Gas
Political Geography:
Middle East, Yemen, Gaza, and Red Sea

44. Virtual briefing: The risk of targeting regional energy assets in the ongoing Middle East conflict

Author:
Helima Croft, Colby Connelly, and Karen Young
Publication Date:
10-2024
Content Type:
Video
Institution:
Middle East Institute (MEI)
Abstract:
Helima Croft, Colby Connelly, and Karen Young, discuss the risk of retaliatory strikes on regional energy facilities; the possible impact on Israel’s natural gas production and on its importers, including Egypt and Jordan; the potential spillover to the Gulf’s energy sector; as well as the relative likelihood of the conflict leading to a major supply shock in the global energy market. Speakers: Helima Croft Head of Global Commodity Strategy and MENA Research, RBC Capital Markets Colby Connelly Director, Economics and Energy Program, MEI Karen Young Non-Resident Senior Fellow and Chair of the Economics and Energy Program Advisory Council, MEI
Topic:
Markets, Imports, Energy, and Natural Gas
Political Geography:
Middle East, Israel, Egypt, and Jordan

45. Malaysia’s “Triadic Maritime Diplomacy” Strategy in the South China Sea

Author:
Bama Andika Putra
Publication Date:
07-2024
Content Type:
Journal Article
Journal:
All Azimuth: A Journal of Foreign Policy and Peace
Institution:
Center for Foreign Policy and Peace Research
Abstract:
The importance of safeguarding Malaysia’s Kasawari gas field in the South China Sea has reoriented Malaysia’s maritime diplomatic strategies vis-à-vis China’s growing assertiveness in this semi-enclosed sea. China’s increased sea infringements through its coast guards and maritime constabulary forces have led Malaysia to adopt what this article coins as “triadic maritime diplomacy,” a combination of coercive, persuasive, and co-operative maritime diplomacy. Malaysia’s maritime diplomatic strategies thus act more as a set of contradictory policies rather than a decisive attempt to defend Malaysia’s sovereignty at sea. This article engages in qualitative inquiry to address two central empirical questions: Firstly, how has Malaysia managed the delicate balance between safeguarding its sovereignty at sea and maintaining close economic ties with China? Secondly, what accounts for Malaysia’s persistent “downplaying” stance despite the escalating intrusions around the Luconia Shoals, particularly concerning the Kasawari gas field? The findings of this study reveal three key aspects: Firstly, Malaysia’s prioritization of developing the Kasawari gas field has necessitated the adoption of seemingly contradictory policies, employing coercive maritime measures utilizing its naval assets while simultaneously adopting rhetoric that downplays crises. Secondly, Malaysia’s maritime diplomacy can be aptly characterized as “triadic” strategies, encompassing the adoption of coercive, persuasive, and co-operative approaches. Lastly, these seemingly inconsistent policies are a strategic response aimed at accommodating both immediate and prospective economic opportunities involving China, all while signaling its nonaligned stance to major global powers.
Topic:
Diplomacy, Gas, Maritime, Energy, Kasawari Gas Fields, and Luconia Shoals
Political Geography:
China, Malaysia, Asia, and South China Sea

46. Italy’s National Energy and Climate Plan and Road Transport: An Appraisal

Author:
Pier Paolo Raimondi and Michel Noussan
Publication Date:
07-2024
Content Type:
Commentary and Analysis
Institution:
Istituto Affari Internazionali
Abstract:
The Italian government has recently submitted the final version of its National Energy and Climate Plan (NECP),[1] which outlines Italian measures to achieve its national climate targets by 2030 in line with the objectives set by the European Union. To do so, Italy has put forward targets, strategies and measures also for the decarbonisation of transport, which remains among the hardest to decarbonise. While Italy’s greenhouse gas emissions due to energy consumption have decreased by 21 per cent from 1990 to 2022, those related to transport have increased by 8 per cent in the same period. Moreover, the transport sector accounted for 27 per cent of national emissions in 2022, with road transport alone accounting for 92 per cent of those emissions.[2] Against this backdrop, it is important to assess the main targets and political implications of Italy’s NECP related to both private cars and heavy-duty road transport (buses and trucks) in order to identify potential gaps and opportunities to reach Italy’s climate targets.
Topic:
Climate Change, Transportation, and Energy
Political Geography:
Europe and Italy

47. Perspectives for Italy-Germany Energy Cooperation amid Energy Security and Transition

Author:
Alessio Sangiorgio and Pier Paolo Raimondi
Publication Date:
10-2024
Content Type:
Working Paper
Institution:
Istituto Affari Internazionali
Abstract:
Italy and Germany share important similarities in their energy sectors, facing multiple challenges, first and foremost the impact of the energy crisis and its effect on transition efforts. Similarly, changing political contexts at the national and European levels creates new obstacles for climate ambitions, raising the need for bilateral dialogue and common solutions. The two countries’ economies are also closely interconnected, increasing the need for joint action on industrial decarbonisation and cross-border interconnections. A coordinated response in tackling the challenges of energy security, competitiveness and sustainability is needed and may yield positive results for both countries and the European Union.
Topic:
Security, International Cooperation, Bilateral Relations, and Energy
Political Geography:
Europe, Germany, and Italy

48. Can Price Controls Be Optimal? The Economics of the Energy Shock in Germany

Author:
Tom Krebs and Isabella Weber
Publication Date:
03-2024
Content Type:
Working Paper
Institution:
Political Economy Research Institute (PERI), University of Massachusetts Amherst
Abstract:
In the wake of the global energy crisis, many European countries used energy price controls to fight inflation and to stabilize the economy. Despite its wide adoption, many economists remained skeptical. In this paper, we argue that price controls should be part of the policy toolbox to respond to shocks to systemically important sectors because not using them can have large economic and political costs. We put forward our arguments in two steps. In a first step, we analyze the impact on the German economy and society of the global energy crisis that followed Russia’s attack on Ukraine in February 2022. Our analysis shows that energy shocks matter. Specifically, the one-year GDP loss of the energy crisis 2022 amounts to 4 percent and is of a comparable magnitude to the short-run output losses during the COVID-19 crisis 2020 and the global financial crisis 2008. In addition, during the energy crisis 2022 inflation rates rose dramatically and real wages dropped more than in any other year in post-war Germany. There are also clear signs that the crisis is causing severe long-term economic damage (hysteresis effects). At the beginning of 2024, GDP is 7 percent and real wages are 10 percent below their pre-COVID-19 trend. We argue that the German government handled the immediate response to the energy shock well, but subsequently waited too long to introduce an energy price brake in 2022. This failure to act decisively in response to heightened economic insecurity coincided with a strong rise of the approval rates of the far-right AfD in the summer of 2022. We also show that the German energy price brake was an effective price stabilization policy for households, but did not protect the industrial base appropriately making it more likely that the German economy will continue to stagnate. In a final step, we turn to the use of price controls as an optimal policy response to an energy shock within a general equilibrium framework. We develop a simple production model with an energy sector and shows that price controls are socially optimal whenever selffulfilling expectations generate endogenous price uncertainty in the wake of an energy shock. We also link our analysis to the so-called sunspot literature that was developed in the 1980s as a response to the rational-expectations revolution in macroeconomics. Finally, we use our theoretical analysis to shed some light on the economic policy debate and the resistance of German mainstream economists to the introduction of energy price controls in 2022.
Topic:
Economics, Inflation, Macroeconomics, Price Control, Energy, and Stabilization
Political Geography:
Europe and Germany

49. Achieving Universal Energy Access in Africa amid Global Decarbonization

Author:
Gracelin Baskaran and Sophia Coste
Publication Date:
01-2024
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
Africa is the most energy-deficient continent in the world, as it hosts 75 percent of the world’s population without access to electricity.[1] Universal access to electricity and clean cooking remains an elusive goal for most states in the region: in 2022, 600 million people lacked access to electricity on the continent, 98 percent of them located in sub-Saharan Africa.[2] There is an urgent need for intervention given Africa’s population of 1.4 billion is forecasted to reach 2.5 billion by 2050, which, when coupled with rising incomes and urbanization, will lead to a significant increase in energy demand.[3] This brief provides six evidence-based insights on Africa’s energy landscape before providing five recommendations on reaching universal energy access amid global decarbonization.
Topic:
Climate Change, Trade, Sustainability, Decarbonization, Energy, and Critical Minerals
Political Geography:
Africa

50. Friendshoring the Lithium-Ion Battery Supply Chain: Final Assembly and End Uses

Author:
William Alan Reinsch, Meredith Broadbent, Thibault Denamiel, and Elias Shammas
Publication Date:
06-2024
Content Type:
Policy Brief
Institution:
Center for Strategic and International Studies (CSIS)
Abstract:
Policies surrounding the lithium-ion battery (LIB) supply chain lie at the intersection of trade, climate, and national security considerations. The LIB supply chain spans the globe, and yet some critical inputs are only produced in a handful of countries—in particular China, which is dominant at several key stages of the technology’s production. The Biden administration appears to have three central, yet misaligned, objectives regarding the LIB supply chain: de-risking away from China’s dominance, reshoring manufacturing capabilities, and accelerating the green transition. To spur the technology’s production and deployment, the United States must undertake several economic and trade policy changes to address gaps in its current approach.
Topic:
Innovation, Lithium, Supply Chains, Energy, and Friendshoring
Political Geography:
Global Focus