Kate Mackenzie
- Writer, The Polycrisis (Newsletter )
- Writer and Researcher, Freelance
- Contributing Writer, Bloomberg News
Writer/researcher on finance, econ + climate also @kmac@econtwitter.net Haunts include @centrepolicydev @climate @polycrisis @phenomenalworld ex @FT
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Articles by Kate Mackenzie
Protected: Disaster and Constraint
Further Reading Insurance markets and climate risk Recent coverage of insurance markets has highlighted the industry’s involvement in the so-called “climate risk doom loop”: looming climate risks and greater disaster damages are... Stocks and flows, action and inaction in the planetary impasse This July has been the hottest in our recorded history and, most likely, over the last 120,000 years. Four “Heat Domes” across the northern hemisphere—over...
Protected: Green Strategy in Africa
Further Reading Free trade and the resurgence of industrial policy in Africa Industrial policy in Africa is back. Beginning last January, Nigeria moved forward with the second phase of its “Sugar Master Plan,” a flagship industrial policy... On Morten Jerven’s The Wealth and Poverty of African States On May 1, 2014, Nigeria’s then-president, Goodluck Jonathan, addressed a crowd of workers in the country’s capital Abuja. He declared that “the challenge of the... An interview with Stephen Marglin.
Scorched Earth - Phenomenal World
Programming Note: In addition to this monthly newsletter, Kate and Tim are regularly publishing dispatches and putting out podcasts, which you can find at thepolycrisis.org. This summer’s heat waves have brought new levels of suffering. Across Europe, several countries—Germany, Hungary, France, the UK, Poland, Spain, Denmark—recorded their hottest-ever June days. As temperatures climbed toward 40°C, motorways were closed, train services suspended, nuclear plants put offline.
Global Scorching - Phenomenal World
Further Reading Climate cooperation, forest funds, and the tentative move toward green industrialization Climate cooperation, forest funds, and the tentative move toward green industries Stalled negotiations and accelerating accumulation in the global petrochemicals industry The Polycrisis has always taken an interest in fossil fuels. We have written about how the industry has shaped international climate diplomacy and liberal politics. We’ve looked at the dynamics of...
Protected: The Beijing Pivot
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Dawn of the Electric World Order
Oil and gas—the foundation of global systems of energy and production—are no longer reliably available where and when they are needed at bearable prices. Two wars in four years have triggered a permanent .
02 | Electric World Order | Rest of World
02 | Electric World Order | Rest of World What does the US dollar have to do with energy access in Africa? Mark Blyth explains why countries are so keen to cut back their US dollar dependence; and how that’s connected to the way they get energy. Also, why Germany is afraid of Chinese EVs. And we talk to Adjekai Adjei about how these constraints actually play out in the African continent. Guests: Mark Blyth, professor of international economics at Brown University.
War on Iran | Phenomenal World
The illegal war launched by the United States and Israel against Iran has triggered the mother of all commodity-supply shocks. In response to the unprovoked onslaught, Iran’s closure of the Strait of Hormuz, the narrow waterway between Iran and Oman’s Musandam peninsula, has brought to a standstill the delivery of huge amounts of the world economy’s critical inputs.
What.a.week
March 8, 2026 Sanchez is our best friend now Hi readers, the most recent Dispatch was accidentally sent out in a hectic draft form! Oops. You can delete that one; this one is much better. Welcome to the 56th edition of the Dispatch, in which we distract ourselves from the horrors of an abhorrent war by rolling our eyes at market participants who couldn’t, a week ago, seem to imagine how bad this could be.
Conscious Uncoupling
Eulogies for the rules-based international order have been piling up in 2026. Mark Carney’s speech at Davos in January was lauded for its open acknowledgment of the political “rupture” in the world order that has been long apparent, but which no world leader of the global North had as yet been willing to openly name. The US-led liberal order was as good as finished, Carney surmised, and it was incumbent on “middle powers” such as Canada and the Europeans to recognize that fact.
Op-ed: Why supporting our grocery stores is a matter of survival
Walk down any block in New York City, from the Grand Concourse to the Grand Army Plaza, and you will find one of the true cornerstones of our community: the local grocery store. Whether a local bodega or an independently owned supermarket, these establishments are far more than just places to buy food. They are vital economic engines and the bedrock of food security for millions of families.
Insurance in the Polycrisis | Kate Mackenzie & Tim Sahay
In April, a senior European insurance executive warned in a viral LinkedIn post that climate change threatened his industry’s existence and, in turn, capitalism itself. “Flooded homes lose value. Overheated cities become uninhabitable. Entire asset classes are degrading in real time, which translates to loss of value, business interruption, and market devaluation on a systemic level,” wrote Günther Thallinger, of Allianz.
LEAP-ing your environmental strategy forward by integrating nature
Insurers and financial institutions are increasingly recognizing the importance of nature in addressing regulatory, reputational, and financial risks, particularly as a credible climate strategy cannot ignore nature-related factors. Despite this, climate change remains the primary focus of environmental efforts, often sidelining nature.
Nature and biodiversity in sustainability strategies
Over half of global GDP relies moderately or heavily on nature and its services, yet nature continues to be threatened by human activities. Despite this critical dependence, many organizations remain unaware and have yet to integrate nature and biodiversity into their sustainability strategies. This contrasts with the more advanced approaches to climate risk, which are often driven by regulatory mandates.
Beyond Neoliberalism? | Kate Mackenzie and Tim Sahay
The globalization that defined the neoliberal period was imagined at a remove from the material world: weightless supply chains composed of transparent logistics networks, just-in-time production and delivery amounting to a seamless world of efficiency and complexity.
Time for strategic climate scenario analysis
Climate change presents complex challenges for businesses, prompting the need to rethink insurance coverage, profitability, and risk pricing under various climate scenarios. With global temperatures projected to rise by 3.1°C—well above the Paris Agreement’s 1.5°C target—companies face increasing physical and transition risks that render historical data unreliable for future planning.
April is the Cruelest Month
Investing in the US has been a good bet for well over a decade. America’s tech industry, its indefatigable consumers, highly profitable firms, and pro-growth fiscal policy has made the country a highly attractive option and contributed to the narrative that its economy is unassailable. This is what has been referred to as the “US exceptionalism” trade, a phenomenon that appears to have come to a sudden end. April was the cruelest month.
Polycrisis 2025 | Kate Mackenzie, Lara Merling, Tim Sahay
The United States will be a source of chaos and volatility for the next several years. The first month of 2025 has set the scene.
How Covid Shaped Climate Policy
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The New Economies X Brussels conference
By Kate Mackenzie, Global Strategic Communications Council (GSCC) The New Economies X Brussels conference was held in a very inauspicious moment. We had just seen the most stark rejection and failure of US liberalism. There was acknowledgement of failure in the opening plenary, with Lorenzo Fioramonti saying sadly: “I’m tired of failing”.
Marshall Plans | Kate Mackenzie & Tim Sahay
At September’s UN General Assembly in New York, Brazil’s President Lula described the international financial system as a “Marshall Plan in reverse” in which the poorest countries finance the richest. Driving the point home, Lula thundered, “African countries borrow at rates up to eight times higher than Germany and four times higher than the United States.” Lula is not alone in this diagnosis.
NYC takes a bite out of climate change
Making every New York voter count: A ranked-choice nonpartisan election is always the best way
The Contest to Shape “Country Platforms”
Last month, young people in Bangladesh revolted against their government over a jobs quota bill that would have reserved 30 percent of public-sector jobs for family members of veterans of the 1971 war with Pakistan. Protestors did manage to drive out the country’s prime minister Sheikh Hasina, though not before hundreds were killed by authorities.
The View From Nairobi-Washington
On June 25, crowning a dramatic, nationwide tax revolt, demonstrators in Nairobi stormed Kenya’s parliament buildings. President William Ruto’s new finance bill, introduced in Parliament in May, sought to increase levies on everything from bread and money transfers to sanitary items and cellular data. In response, the “Gen-Z” generation that has been criticized for not being politically active took it upon themselves to organize on TikTok and mobilize in the streets.
Spotlight: Crafting spirits and supporting music: The unique story of Rock & Union
Loud, gritty, and going against the grain, Rock & Union Spirits is a Hamilton-based spirits brand for hardworking individuals who enjoy unwinding with good friends, good music, and good drinks. Created by Brian Burgess, it reflects the working-class connection to rock and roll and the importance of community. Hailing from the hardworking steel town of Hamilton, Burgess says he wanted to create a brand for the person who puts in a full-day shift.
Great Green Wall of America | The Polycrisis
Biden’s announcement this week to sharply raise tariffs on Chinese imports is an escalation in the yearslong tariff war on China. The new tariffs specifically target green goods, most notably electric vehicles, duties on which have now quadrupled to 100 percent. Tariffs on lithium-ion batteries, critical minerals, and solar cells will also be substantially increased.
How Republicans Engineered a Fake Meat Controversy
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Florida’s New Climate Change Law Is About Much More Than Words
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The U.S. Oil Industry Is Full of Hypocrites
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New World Order? | The Polycrisis
We live in a dysfunctional system in which money flows out of the countries that need it most and into the coffers of the wealthiest. In 2023, the private sector collected $68 billion more in interest and principal repayments than it lent to the developing world. International financial institutions and assistance agencies extracted another $40 billion, while net concessional assistance from international financial institutions was only $2 billion—even as famine spread.
Liberal Blindspots
Protests led by farmers have been roiling Europe for months. In Belgium, Germany, Romania, the Netherlands, Poland, and France, farmers—armed with grievances ranging from subsidized Ukrainian grain imports to the EU-Mercosur trade deal and falling prices—have been taking to the streets, blocking traffic, and pelting the European parliament with eggs. In the European halls of power, right-wing parties are taking note.
Petrobras in Transition
Luiz Inácio Lula da Silva’s campaign for his third term as Brazil’s president was defined by the idea of reconstruction. This encompassed a political recovery from the antidemocratic reign of Jair Bolsonaro, as well as the promise of reindustrialization and a green transition for Brazil’s economy. Key to such efforts, the role of state-owned petroleum giant Petrobras has been a focus of debate in the Brazilian development story.
Red Sea Rivalries
Gemmill, Paul F. “Egypt Is the Nile.” Economic Geography 4, no. 3 (1928): 295–312. https://doi.org/10.2307/140298 ↩ Demerew, K. “From Red Sea to the Nile: Water, Power, and Politics in Northeast Africa.” Third World Quarterly 42(12) (2021): 2883-2901. https://ideas.repec.org/a/taf/ctwqxx/v42y2021i12p2883-2901.html. ↩ Erlich, Haggai. “Identity and Church: Ethiopian—Egyptian Dialogue, 1924–59.” International Journal of Middle East Studies 32, no. 1 (2000): 23–46. http://www.jstor.org/stable/259534.
Brand New India | The Polycrisis
With India headed to elections this April, the ruling BJP is rolling out enormous publicity campaigns to promote its record on economic growth and Hindu nationalism. Central to Prime Minister Narendra Modi’s third bid for reelection is the narrative that the Indian economy continues to grow and remains open for business. Amid the ample flows of international finance, and support from Western capitals, Modi’s India is an increasingly ethno-nationalist state.
Kate MacKenzie, Author at Food Tank
1 Articles0 Comments Kate MacKenzie is the Executive Director of the NYC Mayor's Office of Food Policy with over two decades of experience fighting for food security and broader anti-poverty solutions in New York City and nationally.
Op-Ed | Sustainable Plates, Sustainable Cities: Urban Leaders Are Taking Climate Action with Transformative Food Policies
The weather in New York City can sometimes be extreme with events such as heat waves, blizzards, and hurricanes, and it can all change in a New York minute. In fact, extreme weather has caused New Yorkers to cope in a myriad of strategies from visiting one of our many umbrella vendors to stopping by a public cooling center.
Miracle in Reverse
The South Korean economy is widely seen as the paragon of the East Asian miracle, characterized by its rapid economic growth and a fairly equal income distribution. The country continued its upward growth trajectory even in the aftermath of the 1997 financial crisis, emerging as a global leader in manufacturing semiconductors, automotive, and batteries. But the South Korean economic outlook has proven far less hopeful since the dawn of the twenty-first century.
A Year in Crises | Tim Sahay
When we launched The Polycrisis a year ago, we set out to examine the intersecting crises in the economy, energy system, commodities markets, geopolitics, and climate. Our aim was to break intellectual and political silos to give a fuller picture of what’s going on: security and climate, political economy and commodities, domestic and foreign politics, macroeconomics and populism. In the meantime, our world crisis of ecology, economics, and empire, has continued to metastasize.
China’s Wildly Complex Energy Transition, Explained in 8 Charts
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Oil Companies Are Preparing for a Lucrative Decline
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October War | The Polycrisis
It is now over a month since Hamas launched its attack on Israel, killing an estimated 1,400 Israelis and taking more than 200 people hostage. Israel’s response has, in Netanyahu’s words, sought to “crush and destroy” Hamas, but the main victims of his campaign are Gazan civilians. Daily air and artillery pounding has so far killed more than 10,000 Palestinians—including four thousand children—and destroyed large tracts of public infrastructure: schools, hospitals, universities.
Oil and Politics in the Mid-Transition
A world with terminally declining oil demand has never been experienced before, but the growth era for fossil fuels is ending, as many producers, investors and forecasters are acknowledging. This does not put climate goals in close reach, as CO2 flows need to fall far more dramatically to reduce the stock that is already too high. But pathways to both energy independence and strategic export industries no longer have to involve fossil fuels.
Hot Labor | Kate Mackenzie and Tim Sahay
The energy transition is underway and the global North is putting up the cash. In our series, we have investigated questions about the international hierarchy of money, the distribution of economic power, and trade wars. Today, we turn to labor, which will determine whether the energy transition can develop a mass constituency—or whether it flounders as workers are left behind and rebel. In this new political and economic context, a raft of questions are emerging.
Trading Order | The Polycrisis
Export Bans. Sanctions. Investment screens. The liberal trading order has been weaponized; security, not efficiency, is the new watchword. And yet, 2023 has seen an all-time high of goods traded across borders. Even bilateral trade between the warring great powers, China and the US, was at a high of $400 billion in 2022. US imports from ninety countries are higher than ever before.
Ebullición global
Este mes de julio ha sido el más caluroso de nuestra historia documentada y, muy probablemente, de los últimos 120.000 años. Cuatro “cúpulas de calor” repartidas por el hemisferio norte –Asia occidental, Norteamérica, Norte de África y Europa meridional– han contribuido a disparar las temperaturas, no sólo batiendo récords, sino superándolos en varios grados. En lo alto de los Andes, el invierno se ha convertido en un verano abrasador. Los enormes incendios de Canadá han oscurecido el sol.
Grievance and Reform | The Polycrisis
The precursor of 2022’s was 2020–2021’s vaccine apartheid. These shortages were in no way natural but reflected financial and geopolitical hierarchies: those with more power and resources bid up prices and developing countries lost out in the process. In the case of vaccines, millions of lives were lost. The energy crisis too is a question of life and death.
BRIEFLY NOTED: FOR 2023-08-25 Fr
Is þe Federal Reserve discussing wheþer to shift its target?; is post-plague entrepreneurship really up þis much?; Gideon Rachman & Sergei Guriev on Prigozhin’s Assassination; very briefly noted; Williams, Fallows, Yglesias, Fernald & Li, Black, & Kuo on when Fed rate cuts should begin, Republicans’ crazy war on þeir children’s education & þeir communities, bad-actor apologists for NIMBYism, consequences of þe plague for economic growth, Olivia Nuzzi as ethics-free Christie sycophant, Mark...
Hockey Sticks & Crosses | Anthea Roberts and Nicolas Lamp
They say a picture is worth a thousand words. Two types of images are key to understanding current debates about economic globalization: the hockey stick chart, representing the stunning and inexorable growth of some phenomenon; and the cross chart, whose lines represent changes in relative power and prosperity. There are good and bad hockey sticks, and the job of policy makers the world over is to harness the former while curbing the latter.
Gradual Measures Won’t Save Us From Climate Disaster
This July has been the hottest in our recorded history and, most likely, over the last 120,000 years. Four “heat domes” across the northern hemisphere — over West Asia, North America, North Africa, and Southern Europe — contributed to soaring temperatures, not just breaking but shattering records by several degrees. High up in the Andes, winter has turned to a blazing summer. The sun has been blotted out by Canada’s enormous fires.
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