Policy, regulation effectiveness, and sustainability in the energy sector: A worldwide interval-based composite indicator

Carlo Drago and Andrea Gatto ()

Energy Policy, 2022, vol. 167, issue C

Abstract: Energy policy and regulation are critical to implementing renewable energy and the governance of natural resources. Institutions prioritize the support to reliable and sustainable energy access for any world community. As a result, establishing policies, legislation, and institutional structures is crucial to sustain renewable energy. The nations seeking to stimulate investments and boost their energy sectors to accomplish SDG7 must first develop a suitable environment. Policies and regulations help them achieve their goals. In this framework, sustainability represents a watershed moment in the worldwide development agenda. Domestic regulations should encourage responsibility and compliance from businesses to accelerate the renewable energy transition. This paper develops a brand-new interval-based composite indicator that measures the extent of institutional transparency comparing 110 world states, ultimately aiming to quantify national institutional arrangements governing energy policy. The findings reveal a set of nations that stand out among their peers in institutional traits – the UK, the UAE, Australia, Belgium, Czech Republic, Finland, France, Germany, and the US. In general, African countries perform poorly compared to other states. Also, no African country made it to the top 25. The obtained worldwide standards may be used as policy objectives for any country wishing to enhance its energy regulatory performance.

Keywords: Business ethics; Accountability; Regulation & policy; Sustainable energy; Renewable energy; Interval-based composite indicators (search for similar items in EconPapers)
JEL-codes: C43 C81 C82 G38 P28 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:167:y:2022:i:c:s0301421522001148

DOI: 10.1016/j.enpol.2022.112889

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