Global energy trilemma

Leonid Grigoryev and Dzhanneta D. Medzhidova ()
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Dzhanneta D. Medzhidova: HSE University, Moscow, Russia

Russian Journal of Economics, 2020, vol. 6, issue 4, 437-462

Abstract: The international community has become increasingly concerned with sustainable development and particularly with preventing climate change. The COVID-19 pandemic and global recession of 2020 will exacerbate the situation not just for 2020–2021, but for many years to come. Sadly, it is a game-changer. The necessity to solve problems of poverty (energy poverty) and inequality, as well as growth and climate change mitigation, now haunts intellectuals, forecasters, and politicians. These three problems constitute the global energy trilemma (GET). There is a wide range of forecasts, scenarios, and political plans emerging after the Paris Agreement in 2015. They demonstrate concerns about the slow progress on the matter; however, they still increase the goals for 2030–2050. The global capital formation is a key tool for changes while also representing the hard-budget investment constraints. This article examines practical features of recent trends in energy, poverty, and climate change mitigation, arguing that allocation and coordinated management of sufficient financial resources are vital for a simultaneous solution of GET. No group of countries can hope to solve each of the Sustainable Development Goals (SDG) separately. The global economy has reached the point where it has an urgent need for cooperation.

Keywords: energy; Sustainable; Development; Goals; poverty; inequality; energy; poverty; capital; formation; energy; transition. (search for similar items in EconPapers)
JEL-codes: E2 F21 O44 P28 Q01 (search for similar items in EconPapers)
Date: 2020
References: View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:arh:jrujec:v:6:y:2020:i:4:p:437-462

DOI: 10.32609/j.ruje.6.58683

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