International Economic Policy
ISSN 1812-0660
Greening the Energy Sector and the New Quality of Globalisation
DOI:
10.33111/iep.eng.2023.38.01
Анотація:
Abstract: The article is devoted to a comprehensive study of the processes of greening the global energy complex and its transition to a sustainable development model. The authors prove that digital and network transformation of the world economic system in the first quarter of the 21st century is the main determinant of the fundamental process of creative global economic development, including increasing investment in the innovative development of the green economy. It is stated that the “greening” of the global energy sector is a powerful driver of deep structural modernisation of national models of socioeconomic development and recovery of natural capital. It is proved that the significant intensification of international competition between key actors of the world economy for the resource sources of digital and green transformations in the last decade will radically change the competitive landscape of the global economy in the near future. It is determined that the post-industrial model of global technological development shapes a stable basis for the development of the world energy system in the dialectical unity of the energy market and energy environment. Given the current processes of re-industrialisation of national economies, which in the global environment are determined by the ability to develop an innovative ecosystem, the authors support stratification of countries into groups: the first group – those ones that are able to quickly change national energy consumption models based on energy efficient and green technologies; and the second one – those which are not ready for such changes. The authors reveal the impact of global environmental trends on the structural and qualitative dynamics of modern global economic development: active shift of national economic models from expansive growth to intensive use of production factor potential; transformation of the structure of national economic complexes towards the formation of green sectors of the economy and green jobs; dynamic reindustrialisation of traditional industry through the input of new technologies and models of economic activity; deep social transformations of capitalist society; renewal of social values and set of priorities of current and strategic activities of business structures.
The article reveals the impact of the Covid-19 pandemic on the “greening” of the global energy sector and its transition to a sustainable development model: a rapid decline in market demand for fossil fuels; imbalance in global supply chains of vital goods; a rapid decline in investment in the oil and gas sector; increased consumption of renewable energy sources of local origin; and increased flexibility in energy network management. The article specifies the essence of the EU's climate ambitions, which are to build a model of competitive development based on systemic decarbonisation of the economy. The authors identify the priority areas for the development of green hydrogen generation in the European Union, which is considered within the framework of the plan for the integration of national energy complexes of the member states of this integration grouping, as well as the implementation of its Green Deal.
Ключові слова:
Key words: green economy, smart economy, globalisation, green networking, energy sector, energy transformation, digitalisation, environmental problem, Covid-19 pandemic, EU external energy strategy, integration policy, Green Deal, REPowerEU Plan, green hydrogen
УДК: 339 : 504
UDC: 339 : 504
To cite paper
In APA style
Ilnytskyy, D., & Stoliarchuk, Y. (2023). Greening the Energy Sector and the New Quality of Globalisation. International Economic Policy, 1 (38), 7-38. http://doi.org/10.33111/iep.eng.2023.38.01
In MON style
Ільницький Д.О., Столярчук Я.М. Greening the Energy Sector and the New Quality of Globalisation. Міжнародна економічна політика. 2023. № 1(38). С. 7-38. http://doi.org/10.33111/iep.eng.2023.38.01 (дата звернення: 05.12.2024).
With transliteration
Ilnytskyy, D., Stoliarchuk, Y. (2023) Greening the Energy Sector and the New Quality of Globalisation. International Economic Policy, no. 1(38). pp. 7-38. http://doi.org/10.33111/iep.eng.2023.38.01 (accessed 05 Dec 2024).
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