Empirical analysis of the Russian power industry's transition to sustainability

Abstract

Solutions to sustainability challenges often focus on low-carbon energy transition. This paper highlights the Russian electric power industry's barriers to and drivers for achieving zero emissions by 2060. The methods used include policy analysis and an econometric analysis of variables that affect and are affected by per capita electricity consumption in 1990–2021. The results show that while renewables lower overall electricity use, economic growth, financial development, and CO2 emissions increase use. A bidirectional causality exists from trade openness and CO2 emissions to electricity consumption. A sustainable energy transition framework is proposed based on consolidating selected policy tools.