The Response of Energy Security Risk to Climate Risk

Document Type : Original Article

Authors

University of Kurdistan

10.22080/jeem.2024.27788.1015

Abstract

Climate risk refers to the possibility of severe and harmful climatic events and their negative effects on communities and the environment. On the other hand, the risks caused by climate change, such as extreme weather events and rising sea levels, are a serious threat to energy security and the stability of societies. Considering the complexity and importance of the energy security issue, it is necessary to comprehensively investigate the factors affecting it, identify the existing threats and provide appropriate solutions to improve the situation. The purpose of this research was to investigate the response of energy security risk to climate risk in the 2004-2018 for 75 countries (including 31 developed countries and 44 developing countries) using the Panel Vector Autoregressive (PVAR) model. The research results show that the response of energy security risk to climate risk in selected developing and developed countries has been positive. That is, the increase in shocks related to climate risk during these years has increased the risk related to energy security in the selected countries, and the increase in energy security risk in developed countries has been lower than in developing countries.

Keywords

Main Subjects