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

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  • Mr. Serhan Cevik

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.

Suggested Citation

  • Mr. Serhan Cevik, 2022. "Climate Change and Energy Security: The Dilemma or Opportunity of the Century?," IMF Working Papers 2022/174, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2022/174
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    1. Li, Jiaman & Dong, Jiajia & Liu, Guixian & Taghizadeh-Hesary, Farhad, 2024. "Can green trade development promote energy security in China? The role of financial development," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 1840-1858.
    2. Nurshahirah Abd Majid & Amar Hisham Jaaffar & Raed Hussam Mansour Alzoubi, 2023. "The Impact of Women’s Role in Corporate Governance on Carbon Disclosure Performance: A Descriptive Study of Top 100 Global Energy Leaders," International Journal of Energy Economics and Policy, Econjournals, vol. 13(6), pages 404-417, November.
    3. Li, Pin & He, Qi & Zhang, Jinsuo & Xia, Qiyuan, 2024. "Analyzing the impact of energy synergy and renewable energy generation on energy security: Empirical evidence from China's Yangtze River Delta region," Energy, Elsevier, vol. 302(C).
    4. Muhammad Amir Raza & Abdul Karim & Mohammed Alqarni & Mahmoud Ahmad Al-Khasawneh & Touqeer Ahmed Jumani & Mohammed Aman & Muhammad I. Masud, 2025. "An Intelligent Long Short-Term Memory-Based Machine Learning Model for the Potential Assessment of Global Hydropower Capacity in Sustainable Energy Transition and Security," Energies, MDPI, vol. 18(13), pages 1-27, June.
    5. Zombory, Anita, 2025. "Különbségek az energiaátmenet teljesítésében az EU országcsoportjai között az energiabiztonság szempontjából [Differences in energy transition performance between EU country groups in terms of energy security]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(3), pages 285-311.
    6. García Clavel, Esteban Ricardo & Stringer, Thomas & Sacramento Rivero, Julio C. & Burelo, Manuel, 2024. "Subnational perspectives on energy transition pathways for Mexico's electricity grid," Utilities Policy, Elsevier, vol. 90(C).
    7. Kim, Jaden & Jaumotte, Florence & Panton, Augustus J. & Schwerhoff, Gregor, 2025. "Energy security and the green transition," Energy Policy, Elsevier, vol. 198(C).
    8. Ding, Hongjie & Feng, Muzi & Chen, Qian, 2025. "How supply chain disruptions, renewable energy consumption, and eco-innovation mitigate environmental degradation? A path towards sustainable development in France," Energy Economics, Elsevier, vol. 145(C).
    9. Elisabetta Cappa & Francesco Lamperti & Gianluca Pallante, 2024. "Creating Jobs Out of the Green: The Employment Effects of the Energy Transition," LEM Papers Series 2024/21, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    10. Li, Mingqiang & Ngwaka, Ugochukwu & Moeini Korbekandi, Ramin & Baker, Nick & Wu, Dawei & Tsolakis, Athanasios, 2023. "A closed-loop linear engine generator using inert gases: A performance and exergy study," Energy, Elsevier, vol. 281(C).
    11. Luca Migliari & Davide Micheletto & Daniele Cocco, 2023. "Performance Analysis of a Diabatic Compressed Air Energy Storage System Fueled with Green Hydrogen," Energies, MDPI, vol. 16(20), pages 1-17, October.
    12. Le Thanh Ha, 2025. "Does Circularity Transformation Hinder Climate Risk? A New Insight from European Countries," Circular Economy and Sustainability, Springer, vol. 5(4), pages 2873-2899, August.
    13. Coelho, Catarina & Neves, Catarina & Cruz-Jesus, Frederico, 2025. "Exploring the EU sustainability divide: Analyzing disparities in climate investments," Energy Policy, Elsevier, vol. 206(C).
    14. Magdalena Zioło & Iwona Bąk & Anna Spoz, 2025. "The Nexus Between Green Bonds, Green Credits, and the Energy Transition Toward Renewable Energy Sources: State of the Art," Energies, MDPI, vol. 18(16), pages 1-21, August.

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