ESG approach to energy security

Abstract

The article explores the approach to ensuring energy security taking into account ESG (environmental, social, and governance) principles. The paper examines the evolution of the concept of energy security, analyzes the indicators of primary energy consumption per capita, carbon dioxide emissions in the energy sectors, and the structure of energy consumption in the CIS countries. The analysis of these indicators testifies to certain successes in reducing energy intensity and CO2 emissions, but also indicates the need to reduce dependence on non-renewable resources to enhance the energy security of the CIS countries. The article also briefly reviews the development of the ESG agenda in the CIS countries and provides its own definition of energy security in the context of ESG principles. The conclusion is drawn about the need for global coherence in energy security strategies to realize the benefits of transitioning to a sustainable energy system.