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- A + A (May 26): The world’s food problem is already severe as prices jump and protectionism flares but there’s a good chance governments can stop it from getting way worse if they heed a lesson from the crisis in 2008 — don’t panic. With a gauge of global prices already at a record following Russia’s invasion of Ukraine, a spate of nations have moved to curb exports in crops from wheat and sugar to cooking oils, exacerbating security risks for the rest of the world. Bad weather is a concern, too. Still, while wheat, corn and soy have soared, rice, a staple for more than three billion people, has so far been more stable. If nations do not panic or start hoarding, they can stop the current crisis from becoming a rerun of the one in 2008, when rice prices soared to put the region’s food security at serious risk, according to Harvard University Professor Emeritus Peter Timmer, who’s studied food security for decades. “The 2008 lesson is: Do not spook the market,” … [Read more...] about Bigger food crisis can be averted If Asia remembers not to panic

Penny Wong - A + A SYDNEY (May 26): Australia's Foreign Minister Penny Wong said Canberra will listen to Pacific islands who had "led the global debate" on climate change, and be a partner that does not come with strings attached. Wong's speech to the Pacific Islands Forum secretariat in Fiji on Thursday came as China's foreign minister arrived in the region seeking a sweeping 10-nation deal on security and trade that has further unnerved the United States and its Pacific allies. In pointed remarks, Wong said the 50-year-old regional forum, of which Australia was a member, was the "heart of Pacific regionalism". She said Australia had previously disrespected Pacific nations' struggle with climate change and rising sea levels, and the new Labor government would do more, including financing climate infrastructure and offering migration and work pathways to Australia for Pacific citizens. "The triple challenges of climate, Covid, and strategic contests will … [Read more...] about Australia, China foreign ministers vie for influence with Pacific visits

This article first appeared in The Edge Malaysia Weekly, on May 16, 2022 - May 22, 2022. - A + A OVER the years, there has been much debate on whether low-carbon solutions such as carbon capture technology are relevant in the light of renewable energy adoption and the energy transition. The recent energy crunch, which saw oil and gas prices skyrocket amid high demand, and pushed some countries to even revisit coal for power generation, has proved that fossil fuel use cannot be avoided in the near term. This means it is even more pertinent to explore technologies that allow carbon reduction and offset during the energy transition, says Petroliam Nasional Bhd (Petronas) vice-president and chief sustainability officer Charlotte Wolff-Bye. “In this current sort of crisis in the energy sector, I believe that the energy transition can’t be delivered without the oil and gas industry. We actually need to decarbonise existing energy systems and continue … [Read more...] about Petronas: Decarbonising fossil fuel the way to go