Energy Transition and Green Economy: Definition and Constituants

Energy transition and green economy are interconnected concepts aimed at achieving sustainable development and addressing environmental challenges.

Energy transition refers to the shift from fossil fuel-based energy systems to renewable and low-carbon energy sources. This involves the adoption of clean energy technologies, improved energy efficiency, and reduced carbon emissions. The goal is to create a sustainable energy future that combines climate change and environmental protection [1]. The key components of energy transition include research and development, carbon pricing, and renewable energy targets [1].

A green economy is a broader concept that encompasses energy transition and extends to various aspects of economic development. It is defined as an approach that aims to resolve conflicts between economic growth and environmental issues with the ultimate goal of achieving sustainability in both the economy and society [2]. The green economy model includes the following.

1. Transition from coal to renewable energy sources

2. Improving energy efficiency in production processes

3. Reusing materials from waste in business and energy production

4. Implementing changes to mitigate climate change

5. Creating new opportunities for economic development [2]

Interestingly, the green economy model applied to advanced economies may not be directly applicable to low-income or emerging economies because of development gaps and differing priorities [3]. This finding highlights the need for tailored approaches in different economic contexts.

In conclusion, energy transition and a green economy are closely related concepts that focus on sustainable development, environmental protection, and economic growth. While energy transition primarily deals with the shift to clean energy sources, a green economy encompasses a broader range of economic activities and policies aimed at achieving sustainability across various sectors.

References:

1. Tang D, Solangi YA. Fostering a Sustainable Energy Future to Combat Climate Change: EESG Impacts of Green Economy Transitions. Processes. Multidisciplinary Digital Publishing Institute (Mdpi); 2023;11:1548.
2. Stanković S, Rabrenović M, Ilić B. Using the Composite EEPSE Green Economy Index to Assess the Progress of Emerging Economies in Achieving the Sustainable Development Goals. Problemy Ekorozwoju. Politechnika Lubelska; 2024;19:78–88.
3. Batrancea L, Batrancea I, Pop MC, Rus M-I, Rathnaswamy MM. An Empirical Investigation on the Transition Process toward a Green Economy. Sustainability. Multidisciplinary Digital Publishing Institute (Mdpi); 2021;13:13151.