Government policies to fight climate change are discouraging oil companies from investing heavily in new production even as they turn in record profits – a dynamic that could spell tight supply and high prices as clean energy alternatives seek to fill the void.
Two years ago, Chinese President Xi Jinping proposed the Global Development Initiative (GDI) at the UN General Assembly. The GDI has since become a popular international public good, providing developing countries with new opportunities and guidelines for global sustainable development.