Strategies to Balance Energy Security, Business, Trade and Sustainable Development

Abstract

Energy is pivotal for socio-economic and cultural development. Last century witnessed a drastic increase, on one hand on the consumption of energy and, on the other on greenhouse gases emissions. Traditionally, energy security has been linked with the need to guarantee supply and, in turn, enables economic growth. Against this background, countries focused on diversifying both energy sources and trade partners while at the same time increasing investment in energy infrastructure and technology. Investment in low-carbon energy sources for enhancing national energy policies prompts for a new understanding of energy security. The aim is, in fact, not anymore limited to securing provision but also to strengthen diversification and counteract the negative effects of energy consumption on the environment. The need to include a sustainability component to energy in trade, business and in the society at large, is adding a further layer of complexity in shaping national and international energy policy. Strategies to balance energy security, business, trade, and sustainable development are urgently needed in the Anthropocene. Creative and innovative approaches to energy policy could be found in countries where energy consumption is on a steady rise and environmental degradation is crystal clear.