IMF Working Papers

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

By Serhan Cevik

September 9, 2022

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Format: Chicago

Serhan Cevik. Climate Change and Energy Security: The Dilemma or Opportunity of the Century?, (USA: International Monetary Fund, 2022) accessed December 3, 2024

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Summary

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: Carbon emissions, Climate change, Energy efficiency, Energy security, Europe, Transition economies

Publication Details

  • Pages:

    20

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2022/174

  • Stock No:

    WPIEA2022174

  • ISBN:

    9798400218347

  • ISSN:

    1018-5941