Analyzing the relationship between energy security performance and decoupling of economic growth from CO2 emissions for OECD countries

Shi-Wei Huang, Yung-Fu Chung and Tai-Hsi Wu

Renewable and Sustainable Energy Reviews, 2021, vol. 152, issue C

Abstract: Due to the impacts brought by climate change, the regulation of carbon dioxide (CO2) emissions has become an important determinant in the energy policies of various countries. Another controversial issue is the feasibility of decoupling economic growth from CO2 emissions. The “3E trilemma” involving economic growth, energy consumption, and environmental protection poses a major challenge to the planning of energy security policy in various countries. Through an extensive review of the relevant literature on the definitions of energy security and by incorporating the spirit of the United Nation's Sustainable Development Goals (UN SDGs), this study aimed to develop a more comprehensive energy security performance (ESP) framework. The framework was then used to evaluate the ESPs of Organization for Economic Co-operation and Development (OECD) member states. In addition, this study analyzed the correlation between ESP and the decoupling of economic growth from CO2 emissions. The strategies employed by benchmark countries that achieved both decoupling and excellent ESPs were also analyzed. The results revealed that the ESPs and decoupling performances of Australia, Switzerland, Germany, Denmark, and Sweden were more stable and better than those of other OECD member states. Based on a cross-check of the progress of the energy security indicators and the corresponding energy security policies and measures in the benchmark countries, important observations are proposed.

Keywords: Energy security; Energy security performance; 3E trilemma; Sustainable development; Multiple attribute decision making; Principal component analysis; Composite indicator (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (11)

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DOI: 10.1016/j.rser.2021.111633

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