Energy Security, Trade and Transition to Green Economy in Africa

Abstract

Environmental challenges have enhanced renewed focus on the need to drive the economy in an economically, socially and environmentally sustainable manner; therefore resulting to the emergence of the concept of green economy (GE). In driving the economy towards a green growth path, the pattern of trade and security of energy will play a vital role. Energy (renewable) has been identified as one of the 6 sectors that would provide trade opportunities for export markets in the transition towards a GE, particularly for developing economies, Africa inclusive. This can be done through use of appropriate policies and trade remedies geared towards enhancing the infrastructural and technological capacities of these countries towards the exchange of environmentally friendly goods and services. Through the export of renewable energy such as solar, wind, biofuels, given their abundant supply in Africa; energy security would be achieved with transition to a greener growth path as against a "brown" or ("dirty") growth. From the foregoing, this study explores the components of trade-offs and synergies in relation to trade and security of energy in Africa in the wake of the need for the continent to switch to GE using a sample of 43 selected African countries (2006)(2007)(2008)(2009)(2010)(2011)(2012)(2013).

A Systematic Literature Review of Bio, Green and Circular Economy Trends in Publications in the Field of Economics and Business Management

“…There were also some articles from Africa [133][134][135], America [136,137] and Australia [138]. Other research relates the GE to developing countries [139][140][141][142] where green growth can potentially transform the economy and alleviate poverty.…”

Governance, CO2emissions and inclusive human development in sub-Saharan Africa

“…(i) About two-thirds of the African population (i.e. approximately 620 million inhabitants) does not have access to “ affordable, reliable, sustainable and modern electricity ”, which is crucial to achieve SDGs (Akinyemi et al., 2015; Jarrett, 2017; Shurig, 2015).…”

“…Third, good governance is important in understanding the energy crisis because decades of mismanagement and neglect in SSA have led to some of the worst functioning grid systems in the world. In essence, according to the attendant literature, not enough political will has been garnered to effectively manage energy and environmental issues (Afful-Koomson, 2012; Akinyemi et al., 2015, 2018; Akpan and Akpan, 2012; Anyangwe, 2014; Asongu, 2018a; Asongu et al., 2018; Chemutai, 2009; Efobi et al., 2018; Hongwu, 2013; Jarrett, 2017; Jones, 2003; Odhiambo, 2010; Odhiambo, 2014a, 2014b).…”

Economic development thresholds for a green economy in sub-Saharan Africa

“…First, the green economy is a central theme in sustainable development goals because, inter alia , greenhouse gas emissions are a great challenge to the sustainability of the global environment in the post-2015 development agenda (Akinyemi et al., 2015; Akinyemi et al., 2018; Akpan et al., 2015; Asongu et al., 2016a; Collett, 2012; Efobi et al., 2018; Mbah and Nzeadibe, 2016; Rui et al., 2017; Shaw and Bachu, 2012). Moreover, as documented by Asongu (2018a), the consequences of global warming are most detrimental to countries in Africa for numerous reasons, notably: (i) rampant crises in environmental pollution, persistence in energy crisis and (ii) the ramifications of mismanagement of energy across the continent.…”