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World Bank Group: Sovereign Wealth Funds Investing at Home – Opportunity Fraught with Risk
By Håvard Halland, Alan Gelb, and Silvana Tordo Following the recent discoveries of large oil and gas deposits in East Africa, a number of countries in the region are in the process of establishing, or are discussing the creation of,
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Stephen Heintz: Getting the Rockefellers Out of Oil
The Rockefellers are set to join the Occupy Movement – sort of. The family that built its legendary fortune on oil will now abandon nearly all investments in fossil fuel. The surprising announcement was made in September at the eve
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World Economic Forum Opens in Davos: Sharing and Caring
Davos – Over 2,600 of the world’s most notable people have ascended to Europe’s highest mountain town for a series of meetings that aim to address “key issues of global importance.” Nestled at 1,560m above sea level in a picture-perfect
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New World Bank Initiative to Help End Wasteful Energy Subsidies
A new World Bank-ESMAP facility helps countries develop and implement effective, sustainable energy subsidy reform programs that protect the poor from the impact of higher energy prices. Such subsidies primarily benefit higher-income earners rather than the poor, but if subsidies
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New UN Report Calls for Major Changes in Global Economic Governance, Management
Six years after the start of the global economic and financial crisis, the world economy has still not found a sustainable growth path, argues a new United Nations Conference on Trade and Development (UNCTAD) report released on September 10, 2014.
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How Much Does Pollution Cost?
As it becomes increasingly necessary to reduce emissions, organizations and governments are looking for ways to compensate for the harmful effects of carbon dioxide in the atmosphere. How much do the emissions coming from your car’s exhaust pipe cost in
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Ghana: Crisis as a Hallmark of Enduring Success
A solid mechanism has been put in place with Norwegian assistance to ensure that the proceeds from Ghana’s newly found offshore oilfields are spent wisely and to the benefit of the entire nation. A sovereign wealth fund is to receive
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Why Business Leaders Support a Price on Carbon
Climate change can put the resources, supply chains, and infrastructure that companies rely on at risk, while also threatening to roll back decades of global development progress. Business leaders recognize the risks. Several have started to use an internal “shadow
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Connie Hedegaard, EU Commissioner for Climate Action: Breaking Europe’s Imported Fossil Fuels Addiction
Europe is by far the largest importer of fossil fuel in the world. Recent developments in Ukraine, Syria and Iraq highlight once again how vulnerable our economy is to price spikes, external energy shocks and other regimes’ wishes. Like a
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How to Tame an Unruly Bear
You heed Teddy’s advice: Speak softly and carry a big stick. That’s how a bear is brought to its senses. Hardly rocket science. With his simple, yet effective approach to foreign policy, Theodore Roosevelt (1858-1919) – the 26th US president
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