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Energy Security and The Green Transition

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  • Jaden Kim
  • Augustus J Panton
  • Gregor Schwerhoff

Abstract

The current energy crisis has raised important policy questions on how to strengthen short-term energy security while remaining firmly committed to the green transition, a challenge amplified by the recent consensus at COP28 to transition away from fossil fuels. This paper examines the historical determinants of the security of energy supply and analyzes the green transition implications for energy security. Looking back, we find that the diversification of energy trade partners, or the lack thereof, was the main factor that underpinned energy security dynamics within and across countries over the last two decades. Looking ahead, the green transition is expected to have a net positive effect on energy security provided investments are aligned to address new challenges posed by the increased reliance on renewables.

Suggested Citation

  • Jaden Kim & Augustus J Panton & Gregor Schwerhoff, 2024. "Energy Security and The Green Transition," IMF Working Papers 2024/006, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2024/006
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    Cited by:

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    2. Fan, Yi & Chang, Tsangyao & Ranjbar, Omid, 2024. "Energy security and energy mix diversification nexus in the OECD countries," Economic Analysis and Policy, Elsevier, vol. 84(C), pages 2071-2085.
    3. Beaufils, Timothé & Conyngham, Killian & de Vries, Marlene & Jakob, Michael & Kalkuhl, Matthias & Richter, Philipp M. & Spiro, Daniel & Stern, Lennart & Wanner, Joschka, 2025. "The geopolitical externality of climate policy," Kiel Working Papers 2283, Kiel Institute for the World Economy (IfW Kiel).
    4. Richard Schmitz & Franziska Flachsbarth & Leonie Sara Plaga & Martin Braun & Philipp Hartel, 2025. "Energy Security and Resilience: Reviewing Concepts and Advancing Planning Perspectives for Transforming Integrated Energy Systems," Papers 2504.18396, arXiv.org.
    5. Sheraz, Muhammad & Qin, Quande & Mumtaz, Muhammad Zubair, 2024. "Energy transition in OECD countries: Catalyzing governance quality for SDG 7 attainment," Energy Policy, Elsevier, vol. 194(C).

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