Climate Change and Energy Security: The Dilemma or Opportunity of the Century?

Serhan Cevik

No 2022/174, IMF Working Papers from International Monetary Fund

Abstract: This paper investigates the connection between climate change and energy security in Europe and provides empirical evidence that these issues are the two faces of the same coin. Using a panel of 39 countries in Europe over the period 1980–2019, the empirical analysis presented in this paper indicates that increasing the share of nuclear, renewables, and other non-hydrocarbon energy and improving energy efficiency could lead to a significant reduction in carbon emissions and improve energy security throughout Europe. Accordingly, policies and reforms aimed at shifting away from hydrocarbons and increasing energy efficiency in distribution and consumption are key to mitigating climate change, reducing energy dependence, and minimizing exposure to energy price volatility.

Keywords: Climate change; energy security; carbon emissions; energy efficiency; Europe; transition economies; mitigating climate change; energy dependence; climate change adaptation; financing climate change mitigation; Greenhouse gas emissions; Energy conservation; Carbon tax; Global; Baltics (search for similar items in EconPapers)
Pages: 20
Date: 2022-09-09
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env and nep-reg
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Citations: View citations in EconPapers (5)

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Journal Article: Climate change and energy security: the dilemma or opportunity of the century? (2024)
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