## Energy Security and the Path to Green

## Source details

**Canonical URL:** [Energy Security and the Path to Green](https://www.imf.org/en/publications/fandd/issues/2022/12/editor-letter-energy-security-and-the-path-to-green)

## Other formats

- [Markdown version](/en/publications/fandd/issues/2022/12/editor-letter-energy-security-and-the-path-to-green/index.md)
- [Structured JSON version](/en/publications/fandd/issues/2022/12/editor-letter-energy-security-and-the-path-to-green/index.json)
- [Bundle manifest](/en/publications/fandd/issues/2022/12/editor-letter-energy-security-and-the-path-to-green/bundle-manifest.json)

## Bibliographic details
- Authors: GITA BHATT
- Published: December 1, 2022

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### Overview
- Title: Energy Security and the Path to Green
- Author: GITA BHATT, F&D editor-in-chief.
- Publication: F&D Magazine
- Date: December 2022
- Reading time label on page: Less than a minute(0 words) Read
- Note: "Opinions expressed in articles and other materials are those of the authors; they do not necessarily reflect IMF policy."

### Major themes and framing
- Central question: How do nations manage the gap between near-term energy needs and the urgent, but longer-term green goals?
- Framing: Shift from an era of abundant energy and focus on curbing fossil fuels to a period of supply threats and price increases since Russia’s invasion of Ukraine.
- Core claim: "Climate security and energy security must go hand-in-hand."

### Key arguments and findings
- Fatih Birol (International Energy Agency):
  - It is a fallacy that the world must choose between energy security and climate action.
  - Warns against using the current energy crisis as an excuse to deepen dependence on fossil fuels.
  - Argues the situation strengthens the case for more investment in clean energy, including:
    - energy efficiency,
    - renewables,
    - electrification,
    - a range of clean fuels.
  - Investment in clean energy reduces dependence on imported oil and gas.
- Daniel Yergin (energy authority and author):
  - The energy transition needs careful planning.
  - Risk: public support will erode if transition causes economic disruption, especially in developing countries with urgent priorities like health, poverty, and economic growth.
  - Critique: "Advocacy has too often taken precedence over analysis."
- Andrea Pescatori and Martin Stuermer (IMF):
  - Explain structural differences between oil and gas markets.
  - Provide broader perspective on the energy crisis (detailed analysis appears in the issue).
- Jeromin Zettelmeyer and coauthors (Bruegel):
  - Urge EU countries to strike a "grand bargain":
    - Work together to reduce energy demand and boost supply,
    - Keep internal energy markets open,
    - Compensate vulnerable consumers.
- Ricardo Hausmann (Harvard):
  - For emerging and developing economies, the clean energy transition offers an opportunity to supercharge growth.
  - Investing in green technologies creates value and jobs, enabling greater contribution to global decarbonization.

### Technology and long-term security
- Long-term energy security depends on a mix of clean energy technologies, including:
  - solar and wind power,
  - nuclear,
  - "green" hydrogen,
  - electric vehicles,
  - carbon capture.
- Birol's position: massive investment in clean energy is the best guarantee of energy security.

### Policy implications and recommendations (from contributors)
- Prioritize alignment of short-term energy security measures with long-term climate goals to avoid lock-in to fossil fuels.
- Invest in a portfolio of clean energy options: efficiency, renewables, electrification, clean fuels, and emerging technologies listed above.
- For policymakers in developed regions:
  - Coordinate regionally (example: EU "grand bargain") to balance demand reduction, supply increases, market openness, and targeted compensation for vulnerable consumers.
- For policymakers in emerging and developing economies:
  - Leverage green-technology investment to generate jobs and value as part of growth strategy, while balancing immediate development needs.
- Ensure transition planning accounts for political economy and distributional effects to maintain public support.

### Additional content signposted in the issue
- Jason Bordoff (Columbia University) on opportunities from America's new climate law to engage partners and create special trading rules supporting clean energy.
- Interview with Piotr Naimski (Poland’s former energy minister) on Poland’s pursuit of energy independence.
- Country/sector highlights explored in the issue:
  - Chile's green hydrogen efforts,
  - Kenya's geothermal industry,
  - Indonesia's solar potential.

*Source: Energy Security and the Path to Green; GITA BHATT; F&D Magazine; December 2022.*

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## Content in this bundle

- **Securing the Path to Green**
  - [Securing the Path to Green (Markdown version)](/-/media/files/publications/fandd/article/2022/december/editor-letter-1222.pdf.md){rel="alternate" type="text/markdown"}
  - [Securing the Path to Green (PDF)](/-/media/files/publications/fandd/article/2022/december/editor-letter-1222.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/fandd/issues/2022/12/editor-letter-energy-security-and-the-path-to-green_