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Global energy trilemma

Author

Listed:
  • Leonid M. Grigoryev

    (HSE University, Moscow, Russia)

  • Dzhanneta D. Medzhidova

    (HSE University, Moscow, Russia
    Primakov National Research Institute of World Economy and International Relations, Moscow, Russia)

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.

Suggested Citation

  • Leonid M. Grigoryev & Dzhanneta D. Medzhidova, 2020. "Global energy trilemma," Russian Journal of Economics, ARPHA Platform, vol. 6(4), pages 437-462, December.
    • Handle: RePEc:arh:jrujec:v:6:y:2020:i:4:p:437-462
    DOI: 10.32609/j.ruje.6.58683
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    Cited by:

    1. Khan, Irfan & Hou, Fujun & Irfan, Muhammad & Zakari, Abdulrasheed & Le, Hoang Phong, 2021. "Does energy trilemma a driver of economic growth? The roles of energy use, population growth, and financial development," Renewable and Sustainable Energy Reviews, Elsevier, vol. 146(C).
    2. Khan, Irfan & Zakari, Abdulrasheed & Zhang, Jinjun & Dagar, Vishal & Singh, Sanjeet, 2022. "A study of trilemma energy balance, clean energy transitions, and economic expansion in the midst of environmental sustainability: New insights from three trilemma leadership," Energy, Elsevier, vol. 248(C).
    3. Wadim Strielkowski & Anna Sherstobitova & Patrik Rovny & Tatiana Evteeva, 2021. "Increasing Energy Efficiency and Modernization of Energy Systems in Russia: A Review," Energies, MDPI, vol. 14(11), pages 1-19, May.
    4. Khan, Irfan & Zakari, Abdulrasheed & Dagar, Vishal & Singh, Sanjeet, 2022. "World energy trilemma and transformative energy developments as determinants of economic growth amid environmental sustainability," Energy Economics, Elsevier, vol. 108(C).
    5. V. V. Saenko & A. Yu. Kolpakov, 2021. "Prospects for Russian Energy Exports in the Conditions of Implementing International Climate Policy Measures," Studies on Russian Economic Development, Springer, vol. 32(6), pages 668-675, November.

    More about this item

    Keywords

    energy Sustainable Development Goals poverty inequality energy poverty capital formation energy transition.;

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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