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71. “Blanket” Fuel and Electricity Subsidies Did Not Offer Much Benefit to Zambia’s Poor

Author:
Caesar Cheelo and Rabecca Haatongo-Masenke
Publication Date:
10-2018
Content Type:
Working Paper
Institution:
Hudson Institute
Abstract:
For a long time the Zambian Government ran a number of consumption and production subsidy programmes. These programmes1 came under considerable strain in 2015 when Zambia experienced a significant economic downturn. In that year, the real Gross Domestic Product (GDP) growth rate fell to 2.9%, from an impressive 7.7% over the ten years before (2005-2014). By the time the 2015 downturn had fully set in, the country was running a budget deficit of nearly 10% of GDP and had raked up a public debt stock of over 50% of GDP (IMF, 2016). With the combined cost of debt service interest payments and arrear payments rising from 17% of the National Budget in 2016 to 23% in 2017 (Cheelo, 2017), the Government was readily hemorrhaging money in the aftermath of the minicrisis. Zambia could no longer afford the multiplicity of subsidies it had been maintaining and seriously contemplated abolishing some of them. The policy intentions of the Government were met with strong anti-abolition sentiments with some stakeholders asserting that the removal of subsidies on fuel and electricity would cause pump-price and electricity tariff escalations. The worry was that these price hikes would hurt Zambia’s poor and vulnerable groups most of all. Generally, these sentiments were not backed by analysis and empirical evidence; they were subjective and had the potential to misinform public policy. This paper offers an alternative perspective to the above motion on anti-abolition of subsidies. We argue that during their existence, the fuel and electricity subsidies had benefitted the poor far less than they had done any other social groups in Zambia. Likewise, the abolition of the subsidies affected the poor less than it did other social groups.
Topic:
Energy Policy, Electricity, Fossil Fuels, and Subsidies
Political Geography:
Africa and Zambia

72. Climate Change Disclosure of the Financial Sector

Author:
Zachary Folger-Laronde and Olaf Weber
Publication Date:
09-2018
Content Type:
Working Paper
Institution:
Centre for International Governance Innovation (CIGI)
Abstract:
As the impacts of climate change continue to grow in severity, focus has turned toward the climate change implications associated with the products and services of the financial sector. It is estimated that the indirect carbon emissions, which are caused in the financial sector by borrowers, investees and financed projects, are 50 to 200 times larger than the direct impacts of the financial sector. It is evident that a decarbonization strategy is needed for more than the fossil fuel industry and will require significant changes to most economic sectors. This added focus toward the financial sector has led to demands for enhanced disclosure of climate change information with regard to financed clients and projects. However, there remains limited guidance in how the financial sector should disclose its carbon performance to its shareholders and stakeholders. This paper reviews the highlights from an empirical study that investigated the types of carbon performance voluntarily disclosed by banks and the type of carbon impact emissions disclosed. Policy recommendations are made that aim to facilitate and standardize disclosures.
Topic:
Climate Change, Finance, Fossil Fuels, and Carbon Emissions
Political Geography:
Global Focus

73. Iberian Electricity Sector: A transition towards a more liberalized and sustainable market

Author:
Agustin Garcia, Maria Teresa Garcia-Alvarez, and Blanca Moreno
Publication Date:
02-2017
Content Type:
Working Paper
Institution:
Global Development and Environment Institute at Tufts University
Abstract:
In recent years, important policy developments have impacted the electricity market in the European Union (EU), affecting the cost of energy and resulting in changes to countries’ electricity generation mix. This paper details the Spanish and Portuguese attempts to transition to a cleaner energy economy. At the end of the last century, Iberian countries started the process of liberalizing their electricity market and promoting the use of renewable energies in the electricity mix. Their objectives included establishing a “greener” energy supply, opening new employment opportunities, reducing dependence on imported fossil fuels, and pursuing a more sustainable economy and society. Assuming a leading role in the energy transition process has been a novel and challenging endeavor for both countries. The economic crisis only increased those challenges, leading to mixed results. In addition to covering the evolution of the Iberian electricity sector, this paper identifies key considerations for the future.
Topic:
Energy Policy, European Union, Electricity, and Fossil Fuels
Political Geography:
Europe, Spain, Portugal, and Iberia Peninsula

74. The AIIB’s Energy Opportunity: How the Asian Infrastructure Investment Bank’s Energy Lending Can Chart a New Path of Sustainable Development

Author:
Kiri Hanks
Publication Date:
06-2017
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
The new Asian Infrastructure Investment Bank (AIIB) will be a major new funder of infrastructure in developing Asia, where demand for power is growing faster than any other region in the world. Done right, its energy lending could promote an inclusive and sustainable Asian energy transition. This report sets out a vision for an AIIB partnership with the region’s most climate-vulnerable countries. This could forge a new path of economic development and confirm a new era of Southern climate leadership.
Topic:
Climate Change, Environment, Natural Resources, Infrastructure, Sustainable Development Goals, Fossil Fuels, and Paris Agreement
Political Geography:
Asia and Global South

75. Directing Technical Change from Fossil-Fuel to Renewable Energy Innovation: An Application Using Firm-Level Patent Data

Author:
Joëlle Noailly and Roger Smeets
Publication Date:
01-2014
Content Type:
Working Paper
Institution:
Centre for International Environmental Studies, The Graduate Institute (IHEID)
Abstract:
This paper investigates the determinants of directed technical change at the firm level in the electricity generation sector. We use firm-level data on patents filed in renewable (REN) and fossil fuel (FF) technologies by 5,261 European firms over the period 1978-2006. We investigate how energy prices, market size and knowledge stocks affect firms’ incentives to innovate in one technology relative to another and how these factors may thereby induce a shift from FF to REN technology in the electricity generation sector. We separately study small specialized firms, which innovate in only one type of technology during our sample period, and large mixed firms, which innovate in both technologies. We also separate the extensive margin innovation decision (i.e. whether to conduct innovation) from the intensive margin decision (i.e. how much to innovate). Overall, we find that all three factors - energy prices, market sizes and past knowledge stocks - matter to redirect innovation towards REN and away from FF technologies. Yet, we find that these factors have a larger impact on closing the technology gap through the entry (and exit) of small specialized firms, rather than through large mixed firms’ innovation. An implication of our results is that firm dynamics are of direct policy interest to induce the replacement of FF by REN technologies in the electricity generation sector.
Topic:
Innovation, Renewable Energy, Fossil Fuels, Patents, and Firm Dynamics
Political Geography:
Global Focus

76. Mexico and the Energy Revolution

Author:
COMEXI
Publication Date:
03-2013
Content Type:
Working Paper
Institution:
Mexican Council on Foreign Relations (COMEXI)
Abstract:
COMEXI, the Mexican Council on International Affairs has recently prompted the creation of different working groups to discuss specific topics of general interest. Comprised of COMEXI members, these groups seek to provide a sound analysis and an international perspective on major national issues. It specifically created the Energy Working Group this year (2013) that conducted a series of reflections, lectures, discussions and research on the impact of the global energy revolution in Mexico. This energy revolution is disrupting the world of energy with momentous consequences in terms of supply, demand, technological access and human resource development. This is particularly evident in North America, where our neighbors and partners are developing a new model of hydrocarbon exploration and operation that is leading to the rebirth of their manufacturing sectors and their respective relations with the world. This study also identifies the challenges and opportunities that such transformations represent for Mexico, and presents a concrete proposal for an energy reform to insert the country in world trends, maximize the value of our energy resources, and use oil revenues to overturn the social backwardness that still hinders our nation's comprehensive national development.
Topic:
Development, Fossil Fuels, Hydrocarbons, and Energy
Political Geography:
North America and Mexico

77. Energy, Cities, and Security: Tackling Climate Change and Fossil Fuel Risk

Author:
Peter Droege
Publication Date:
09-2007
Content Type:
Journal Article
Journal:
The Journal of Diplomacy and International Relations
Institution:
School of Diplomacy and International Relations, Seton Hall University
Abstract:
The world economy is based on cities: cities are its very home. Global financial flows are structured within urban systems; city networks physically articulate national and international markets. Historically, cities have been built around markets, too. Founded on trade routes, they formed growing economies in themselves; they gave rise to and nurtured the dynasties and institutions that manage the decisions that guide national economies. Cities are settings of political command and control, and centres of culture. Here society’s leading images and messages are produced and packaged, shaping social reality and articulating aspirations. The great urban centers of yore were the main stages of their respective political settings. Democracy was developed by urban societies, and it was shaped and supported in the public spaces and institutions of major cities. Today, most population growth occurs in urbanized areas, with half of the world’s population dwelling here. But cities, their form, economies, and growth dynamics have also been very much defined by the energy systems dominating their eras. The manner of this interaction helps define the security profile of an age, a nation, or the balance of global relations. Global trade, sprawling cities, or periods of large-city formation are not new historical phenomena. The stories of hegemonic urban networks involving Babylon of the 18th century BC, Angkor of the 12th century AD, or London of the late 18th century are testimony to this fact. But the speed and sheer mass of the current urbanization wave, and the formation of super and mega-sized cities as a widespread, simultaneous, indeed, global phenomenon is unprecedented; it has only been acknowledged as a significant force during this past half-century. While rampant urbanization had not found wide recognition prior to the 1970s, it has also not been particularly well understood in the time since. The massive explosion of the world’s urban population is relatively new, gathering momentum in the first half of the 20th century and accelerating from the 1950s on. From the 1970s, a burgeoning research literature genre formed to give meaning and voice to this phenomenon.1 Since then, these urban centers have been described as world cities, global cities, megacities, or referred to broadly as the global urban system. Regardless of the label used, this conception connotes primacy of global markets, corporate control, seats of national power, homes to regional security apparatuses and, above all, the agency and relevance of technological innovation in surface, air & sea transport, defense, and the advent of advanced telecommunications.
Topic:
Security, Climate Change, Economy, Fossil Fuels, Cities, and Energy
Political Geography:
Global Focus

78. Covering Oil: A Reporter's Guide to Energy and Development

Publication Date:
04-2005
Content Type:
Special Report
Institution:
Open Society Foundations
Abstract:
In most resource-rich countries, natural wealth does not translate into prosperity for the majority of inhabitants, but instead leads to environmental and economic devastation, and hampers democratic reform. Only an informed public can hold leaders to account. Yet local reporting often overlooks the legal, economic, and environmental implications of resource extraction. Covering Oil: A Reporter's Guide to Energy and Development, a collaborative work of the Open Society Foundation's Revenue Watch program and the Initiative for Policy Dialogue, aims to encourage rigorous reporting on these issues by providing practical information about the petroleum industry and the impact of resource wealth on a producing country. The guidebook comes out of a series of workshops for journalists in the oil-exporting countries of Azerbaijan, Kazakhstan, and Nigeria, during which participants expressed a need for more information to help them understand the issues surrounding resource exploitation. In response to these consultations, Covering Oil outlines the fundamentals of petroleum contracts, provides a glossary of relevant economic theory, and presents case studies of major public policy issues. Covering Oil is the second in a series of Revenue Watch guidebooks targeting various audiences involved in the promotion of transparency and democratic accountability. The first, Follow the Money: A Guide to Monitoring Budgets and Oil and Gas Revenues, was aimed at nongovernmental organizations.
Topic:
Energy Policy, Oil, Natural Resources, Democracy, Journalism, and Fossil Fuels
Political Geography:
Kazakhstan, Azerbaijan, and Nigeria

79. Caspian Oil Windfalls: Who Will Benefit?

Author:
Svetlana Tsalik
Publication Date:
05-2003
Content Type:
Special Report
Institution:
Open Society Foundations
Abstract:
Caspian Oil Windfalls: Who Will Benefit?, a publication from the Central Eurasia Project's Caspian Revenue Watch, calls for greater accountability, transparency, and public oversight in the oil and natural gas industries of Azerbaijan and Kazakhstan. It urges foreign oil companies, their home governments, and international financial institutions to promote good governance and democracy in both countries to ensure that petroleum revenues generate social prosperity and stable governments. Written by Svetlana Tsalik, director of the Caspian Revenue Watch, the report also offers recommendations based on in-depth analysis of natural resource funds in other nations as well as models of citizen oversight. The foreword was written by Joseph E. Stiglitz, the former chief economist of the
Topic:
Oil, Natural Resources, Accountability, Public Policy, Transparency, and Fossil Fuels
Political Geography:
Caspian Sea and Central Eurasia