The role of energy policy in transforming the global economy towards a green economy

Abstract

This study aims to highlight the crucial role of energy policy in the transition to a green economy by promoting renewable energy and enhancing resource efficiency. It addresses the key concepts of green economy and examines the impact of current energy policies,  It also highlights the global shift towards energy policies that focus on clean energy alternatives and improving energy efficiency. Key indicators of this shift include increased investment and production in renewable energy sources, their increasing share in the energy mix, and declining generation costs. Although fossil fuels still dominate the energy sector, the rise of renewable energy – driven by higher capacity, lower costs, and environmental and economic benefits – offers promising opportunities for developing the energy sector and achieving a green economy in the medium and long term.