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China’s Belt and Road Initiative (BRI) developed a system of interaction with the member countries to uplift economic and environmental integration. Through BRI, these countries are now developing in the field of financial management, energy and environment. This raised the importance to test nexus between energy, finance and environment-related constructs to present the empirical significance with policy suggestions. Therefore, considering the SDG number 7 for sustainable and reliable energy system, recent investigation attempted to determine that how green financing raise energy efficiency, and, to what extent economic and environmental integration act as a catalyst to enhance sustainability and reliability in energy systems of BRI member countries. For empirical analysis, study used the data from 2005–2018. The results have shown a significant variation in energy financing patterns, renewable energy sources consumption and carbon emission trends in BRI member nations. Moreover, the Probit regression analysis confirmed this variation between energy efficiency, financing patterns and carbon emission. Moreover, Human Development Index (HDI) and public financing in energy sector have shown a limited role in developing energy efficiency, which presented the room for private investment through green financing for energy efficiency maximization and this proved as significant in study context. This study also presented policy guidelines for key stakeholders.

The objective of this study is to measure the energy efficiency and energy security by using Data Envelopment Analysis (DEA) and an econometric estimation such as ordinary least square method (OLS) to measure the relationship between energy efficiency, energy security and economic development with macro-economic indicators such as energy consumption, economic growth, and environmental degradation factors by using the data from 1976 to 2016 while the energy efficiency has been measured during the period of 2010 to 2018. Results show that Brazil and Russia are countries with less energy for these consecutive years. This work contributes to the existing literature on eco-friendly and sustainable policy design in BRICS countries based on multiple indicators. The analysis also indicates that the quality of a country’s laws and regulations are essential for expanding research on renewable energy because the right policy tools serve as the basis for the transition. It is also found that Brazil, Russia, and South Africa have the best score in terms of energy and economic development while China and India are among the lowest performing countries in clean energy. Energy efficiency results show that china has the highest score of 1 while India and South Africa energy score is about 0.623 and 0.64 respectively. This serves as a panacea to study the country’s energy insecurity and bridge the gap in the literature. As the renewable energy industry is considered a high-risk area, it is necessary to develop essential aversion tools for financial policy risks to attract private capital.

Rapid economic growth in Asia recently has been driving global energy demand and prices. However, little progress has been made concerning the region’s energy security. To assess Asia’s progress in energy security and its impact on real income per capita growth, the 4-As energy security framework — energy availability, applicability, affordability and acceptability dimensions — is integrated into the cross-country generalized method of moments (GMM) model and empirically estimated using data from 20 Asian countries (1995–2015). Results indicate that energy security measured by expanding renewable energy use, increase in electricity access and electric power consumption per capita growth are positively associated with real income per capita growth, while a larger share of imported energy and higher energy intensity hinder growth. Meanwhile, climate security is included in the energy security framework; the results suggest that an increase in CO₂ emissions has a negative impact on economic growth. Possible policy implications for improving energy security in Asia are discussed in the conclusion.

Energy insecurity has become an alarming issue among ASEAN countries. One proposal to overcome this energy insecurity is to integrate energy markets among ASEAN countries. In order to do this integration, a major energy policy reform, particularly the elimination of energy subsidy policies, is needed. The main goal of this paper, hence, is to analyze the impact of an energy subsidy reduction policy in ASEAN, particularly in terms of economic growth, environmental improvement and welfare distribution. To achieve this goal, this paper uses a multi-country computable general equilibrium (CGE) for Inter-Regional System Analysis for ASEAN (IRSA-ASEAN) to conduct the analysis. This paper finds that countries in which energy subsidies significantly exist, i.e., Indonesia and Malaysia, stand to gain much from eliminating these subsidies. Gross domestic product (GDP) is likely to increase, with the added benefit of reduced CO₂ emissions. In terms of welfare distribution, this policy appears to be progressive in nature.

This study examines the role of energy security in poverty reduction in the 12 poorest Asian economies from 2000 to 2019. We postulated an energy security index using principal component analysis. We adopted the system generalized method of a moment technique to manage endogeneity and dynamism in the model. For robustness, we applied a panel-corrected standard error (PCSE). We found a negative relationship between energy security and poverty reduction, suggesting that energy security helps reduce poverty. We conclude that energy security promotes sustainable poverty alleviation and recommends feed-in tariffs, net metering, tax credits, and energy resource diversification away from fossil fuels.

This study pioneers in quantitatively evaluating policies and commercial strategies of China to facilitate its coal-to-gas transition, concerning their impacts on energy security, especially for Liquefied Natural Gas (LNG) import dependency and cost-effectiveness. An econometric approach is developed to examine the impacts of natural gas domestic production expansions, pipeline import expansions, and LNG price volatilities on LNG import. Empirical evidence reveals two challenges: (1) insufficient growth in domestic gas production to substitute and reduce import volumes via LNG shipping; (2) under increased import prices from major spot markets, LNG import volumes continued increasing, which implies cost ineffectiveness.

This paper assesses energy security in three long-term energy scenarios (business as usual development, a projection of Copenhagen commitments, and a 450 ppm stabilization scenario) as modeled in six integrated assessment models: GCAM, IMAGE, MESSAGE, ReMIND, TIAM-ECN and WITCH. We systematically evaluate long-term vulnerabilities of vital energy systems of four major economies: China, the European Union (E.U.), India and the U.S., as expressed by several characteristics of energy trade, resource extraction, and diversity of energy options. Our results show that climate policies are likely to lead to significantly lower global energy trade and reduce energy imports of major economies, decrease the rate of resource depletion, and increase the diversity of energy options. China, India and the E.U. would derive particularly strong benefits from climate policies, whereas the U.S. may forego some opportunities to export fossil fuels in the second half of the century.

Energy security improvement is often presented as a co-benefit of climate policies. This paper evaluates this claim. It investigates whether climate policy would improve energy security, while accounting for the difficulties entailed by the many-faceted nature of the concept and the large uncertainties on the determinants of future energy systems. A multi-dimension analysis grid is used to capture the energy security concept, and a database of scenarios allows us to explore the uncertainty space. The results, focusing on Europe, reveal there is no unequivocal effect of climate policy on all the perspectives of energy security. Moreover, time significantly matters: the impact of climate policies is mixed in the short term and globally good in the medium term. In the long term, there is a risk of degradation of the energy security. Lastly, we examine the robustness of our results to uncertainties on drivers of economic growth, availability of fossil fuels and the potentials and low-carbon technologies, and find that they are sensitive mainly to fossil fuels availability, low carbon technologies in the energy sector and improvements in energy efficiency.

Despite the numerous technical, logistical, and policy challenges associated with the use of bioenergy to mitigate climate change, the latest IPCC report identifies bioenergy as a high-value and large-scale mitigation option to support the transition to a cleaner energy system. This paper links a climate-economic-energy model and a land model to measure the net mitigation effect of using forest biomass for electricity generation and corresponding implications on global temperature. Through the soft-link, the energy model provides to the land model the cost-effective regional consumption of forest biomass under nine carbon price scenarios and measures the effects of its use on fossil fuel emissions and carbon sequestered in carbon capture and storage (CCS). The land model provides the dynamic supply of forest biomass and measures the change in land management/use under each demand scenario and corresponding changes in carbon sequestered in forests. Results suggest that forest biomass should be part of global mitigation efforts despite the expected small share of electricity sourced from it. The net climate benefits of forest biomass energy vary across scenarios and temporally — in most scenarios increased biomass demand results in near term reductions in global forest carbon stocks, but at carbon prices starting at $40/tCO₂e or greater, results show positive net sequestration by 2030. This increased sequestration, coupled with energy emissions displacement and bioenergy with carbon capture and storage (BECCS) implies substantial long-term mitigation potential for forest biomass energy. Our results suggest that high forest biomass demand pathways could also help reduce the magnitude of future temperature growth. Further, we explore the regional effects on energy security of using forest biomass. Results show that its use can have potential large effects on trade dynamics and regional energy security issues, with 4 of the 17 global regions found to be net exporters of forest biomass.

The European Union (EU) is the third largest energy market on the planet following China and USA, consuming more than 1.6 million tons of oil equivalent, this fact determining the community’s strength. Nevertheless, this strength is valid only in the case when the market is consolidated, therefore, the strategic goal of the community is to avoid splitting the EU’s market into individual member states considering both the economic and political aspects, the force of which is considerably more reduced. This paper aims to comprehensively analyze the energy market of the European Union and determine the key weaknesses which threaten the community’s security in this area. At the same time, it is presupposed to identify the key initiatives through which the European Union aspires to consolidate the energy market’s integrity in the conditions of growing international competition and changing geopolitical environment. To reach these specific goals, a subset of objectives which are expected to be achieved by applying both quantitative and qualitative research methodologies has been selected. The results reached show that the European Union’s efforts are insufficient to consolidate the energy market and deepen the integration, nevertheless, the proposed plans are promising, offering the community a favorable perspective.

In the context of climate change, security is not only a relationship between countries, but also the interdependence between issues. In the African region, water, energy, and food form a security nexus with great sensitivity and vulnerability. Security nexus provides a new explanation for resources competition, cooperation, and conflict in the African region, and promotes water-food-energy research shift from the technical aspects to foreign policy level, and finally provides new international political ideas for resource and environmental solutions in Africa. In the perspective of security nexus, solving the ecological problems in Africa through international cooperation is not a simple technical issue, but an international political and economic issue. Based on the special political and economic advantages that China owns, jointly coping with the challenges of security nexus of China and Africa will provide an important opportunity to deepen their friendly and cooperative relations, broaden social basis of China–Africa relationship, and seek new growth points for economic cooperation.

In China, debates on energy security are diverse and far beyond geopolitical analysis. Findings from the ever-expanding literature indicate two major schools of thought, namely the nationalist and globalist ones, while a pragmatic approach has been prevailing that integrates exploring domestic sources and engaging external actors when needed. The challenges of having to do whatever feasible to meet energy demands and at the same time, pursuing alternatives that reduce its negative impact on human health and environment, have led to growing pluralism in policy advocacy in China. While the two schools of thought on energy security will continue to compete against each other, the argumentative strength of each school shall be conditioned by many factors influencing China’s macro-economic fluctuations in general and energy economies in particular. The Chinese government’s energy policy-making is expected to reflect a dynamic balance between both schools.

Due to institutional fragmentation and conflicts among various actors, a systematic reform to improve the effectiveness of the global energy governance system has become increasingly urgent. Currently, the Group of Twenty (G20), which consists of the world’s major economies and constitutes 60 percent of global energy trade, is in a good position to remold the global framework for energy governance. The past G20 summit meetings have witnessed more attention and efforts from member-state leaders to address problems associated with global energy. However, most of the discussion has been focused on technical issues rather than a comprehensive review of the whole governance system. In the future, the G20 should take proactive measures to enhance its leadership role and policy innovation in the reform of global energy governance, in order to spur green development of the world. As the largest developing nation, China should tap into the G20 platform to advance the transformation of its domestic and international energy systems.

Since the inception of the China-Pakistan Economic Corridor (CPEC), one of the six corridors envisaged under President Xi’s signature Belt and Road Initiative (BRI) in Pakistan, there has been criticism in academic circles as well as media about sustainability issues. In an article published in Strategic Analysis in 2017 entitled “CPEC in Pakistan’s Quest for Energy Security,” the authors raised some questions related to Chinese-funded projects. Based on the overall analysis of various CPEC projects, the paper had reached several conclusions. First, it stated that “the prospects of Pakistan being energy sufficient seem bleak for several reasons” related to the lack of proper implementation mechanisms. Second, it argued that there are discrepancies concerning financing of CPEC energy projects as it was not clear whether it was loan or foreign direct investment (FDI). In the same vein, the authors asserted that “most of the projects would be financed by Pakistan, not by China or other foreign investors.” Third, the paper emphasized that there are concerns that Chinese companies would bring their own labor. The authors also highlighted the issue of tied aid or loans as most of the procurement involved Chinese products and services. And finally, the paper discussed the issue of special incentives given to Chinese companies as they are exempted from various taxes. Based on primary data obtained in Pakistan and complemented by secondary data available in the form of government documents and policy reports of national and international organizations, this paper challenges the major assumptions presented in the previous work on this subject. The study concludes that although there are issues in smooth implementation of projects, the CPEC has the potential to make Pakistan energy sufficient and usher in a new era of development.

This study examines China’s energy security strategy in Central Asia through the Belt and Road Initiative (BRI) and Green BRI. The examination extends while integrating two theories, i.e., Energy Securitization and Complex Interdependence. By analyzing China’s investments in renewable and non-renewable energy projects, this research assesses how they enhance regional connectivity, foster economic cooperation, and contribute to China’s energy security. A strengths, weaknesses, opportunities, and threats (SWOT) analysis reveals both the strengths and weaknesses of China’s energy strategy, highlighting opportunities for sustainable development and challenges posed by geopolitical factors. The findings suggest that while the BRI is a critical tool for China’s energy security, careful strategic planning and collaboration with Central Asian countries are essential to mitigate risks and maximize benefits. The study acknowledges the complex interplay of economic, political, and environmental constraints and concludes by highlighting the need for joint policy initiatives to promote mutual energy security, sustainability, and regional stability.

Energy security is a highly contested concept since there is no common agreement about what it means and what elements it should include. On the contrary, the current academic literature is overloaded with a broad spectrum of conceptual and operational definitions of energy security. Nonetheless, in many respects, all these new concepts are essentially the intellectual development of the initial position on energy security as reliable supplies of energy at reasonable prices. Indeed, the essence of energy security is the question of where we are able to get the energy from and what societal costs—economic, political, and environmental—we are ready to pay for it. Since all societal costs are essentially value-laden, any debate about energy security involves assessment of not only technical indicators such as share of imported energy sources or diversity of energy mix but also national values and objectives. A good conceptualization of energy security should thus be built around it.

With the rapid global economic development, energy demand has increased sharply in the past few decades. China depends on a large amount of energy to stimulate its economic development as the largest developing country. Energy security is of vital importance for China and its provinces. In this chapter, we evaluated the historical energy security performance at both national (1992–2018) and provincial levels (1995–2016). Particularly, we applied three energy security indicators, including diversity of energy sources, energy import, and country risks (S1–S3).We elucidated that at the national level, S1 (the indicator based on diversity of energy sources) and S2 (S1 with energy import) both increased in the period 1992–2002, then decreased from 2002 to 2006. However, S3 (S2 with country risks) basically decreased from 1996 to 2006. After 2006, all the three indicators increased, but with fluctuation in their levels. At the provincial level, we found that the energy security levels largely differed by province. From the further evaluation of the six selected provinces with obvious characteristics of energy security performance (Guangdong, Qinghai, Beijing, Sichuan, Fujian, and Heilongjiang), we found that the energy security performances of five provinces (except Heilongjiang) improved because the demand for fossil fuels declined and that for renewable energy increased over time. Heilongjiang was the only one province with negative growth of energy security during the study period, because it is rich in fossil fuel resources but not in renewables. To improve the energy security, China needs to use more renewable energy to diversify energy sources, improve the diversification of energy imports, and reduce the imports from high-risk countries.

China, a high energy-consuming and large country, is characterized by unbalanced socio-economic development among provinces, inevitably leading to a great disparity in energy security. It is of utmost importance to evaluate the subnational energy security situation in China to formulate effective measures to enhance energy security. This study first analyzed China’s energy situation from 2000 to 2017 in terms of energy consumption by fuel types, energy consumption flows, and energy production, providing a basis for the better understanding of China’s energy demand and supply status. The energy security of China’s 30 provinces from 2011 to 2017 was then evaluated using 21 indicators based on the drivers-pressure-state-impact-response (DPSIR) model. We found that: (1) the average of provincial energy security was relatively low and experienced a slight decrease from 2011 to 2017. The energy security degree reduced to 0.57 in 2017, and the imbalance of the energy security scores of the five dimensions could possibly be the reason for the low level of the overall evaluation of energy security, especially the low level of “response”. (2) For specific provinces, the top five highest levels of energy security of the provinces in 2017 were Tianjin (0.73), Beijing (0.66), Shanghai (0.64), Heilongjiang (0.64), and Jilin (0.63). Guizhou, Ningxia, Xinjiang, Qinghai, and Hebei had the lowest level of energy security in 2017, at 0.51, 0.50, 0.49, 0.49, and 0.47, respectively. (3) Energy-abundant provinces were not the ones that necessarily performed best in terms of energy security. Since energy security performance measurement is a multidimensional evaluation, some energy-abundant provinces, such as Guizhou, Ningxia, and Xinjiang performed poorly in terms of energy security. Some policies have been put forward to enhance these provinces’ energy security effectively.

South Asia is at a crossroads with growing population, rising per capita income, expanding economies, and increasing energy demand. With growing industrial, commercial, and transport sectors along with rising urban and middle-income consumers, the energy use is increasing at unprecedented rates to meet the ambitious poverty-reduction targets. All countries of the region are facing critical scenarios ranging from depleting indigenous energy resources for developing long-term energy cooperation plans to ensuring energy security. South Asian countries are highly dependent on imported fuels, especially liquid hydrocarbon, for transport. For instance, India, Pakistan, and Bangladesh meet less of their energy demand with indigenous sources and thus face mounting energy import bills. Maldives depends on oil products to meet its energy needs. Nepal and Bhutan have huge hydroelectric potential. At the same time, there is a very wide variation in the energy consumption levels in South Asian countries. The high potential of hydropower in South Asia can reduce the reliance of the region on importing fossil fuel, increase the demand from indigenous resources, raise the energy security level, and reduce the emission levels. Therefore, energy security is vital for improved economic growth and to attain poverty reduction in the region, and thus calling for development and utilization of locally available renewable energy along with intraregional energy cooperation to help mitigate individual country energy security risks in the context of climate change is required.

On March 26, 2018, the People’s Republic of China (PRC) launched Shanghai crude futures as part of its efforts to enhance the region’s energy security. The PRC’s crude futures performed far beyond the market’s expectation in terms of liquidity, volume, and price signal, and thus reignited interest in launching natural gas futures. Any futures of natural gas or liquefied natural gas will be heavily derivatized from efficient benchmark price indexes, which are assessed and reported at the regional market hubs. Instead of having a couple of centralized exchange centers or virtual trading hubs, the web of efficient multiple regional physical and marketing hubs strategically located across the nation would contribute to regional cooperation between the PRC, Japan, and the Republic of Korea; fundamentally change global gas market dynamics; enhance the PRC’s energy security; and support Asian pricing index development. It is the prime time to fast track the establishment of such market hubs in the PRC. We study market participants’ needs and functions of market hubs, identify key success factors of establishing such market hubs, recommend what would make commercially viable and efficient hubs in the PRC in a 14-stage blueprint, and evaluate major policy implications for the PRC, and broadly Asia.