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2024 | Buch

Fossil Fuels in the European Union

Geopolitical Change, Climate Policy and Financing Conditions

verfasst von: Zbigniew Korzeb, Paweł Niedziółka, Kari Liuhto, Agnieszka Bryc, Dorota Niedziółka, Maciej Mróz

Verlag: Springer International Publishing

Buchreihe : Lecture Notes in Energy

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SUCHEN

Über dieses Buch

This book identifies scenarios for changes in transmission infrastructure, contracting, consumption patterns and fossil fuel financing policies, considering climate goals and the consequences of the conflict in Ukraine.

The invasion of Ukraine by the Russian Federation has fundamentally changed the geopolitical situation, approaches to energy security issues, the EU’s energy (in)dependence and the implementation of previously outlined climate policies, including the planned gradual withdrawal from fossil fuels.

This book presents the geopolitical architecture, energy mix, energy fuel supply structure, long-term energy policy and financing conditions of the oil and gas and sectors in the EU in the period preceding and following the Russian invasion of Ukraine. The authors consider the date of Russia’s attack on Ukraine as a symbolic caesura marking the beginning of the process of creating a new energy order in the EU.

A novel part of the book is the attention it pays to the role of the credit and investment policy of the EU banking sector in relation to carbon-intensive sectors and to the significance of the financial system from the point of view of the effectiveness of international sanctions imposed on the Russian Federation, including, above all, sanctions related to the fossil fuel sector. The book is of interest to researchers and all those interested in learning about these subjects.

Inhaltsverzeichnis

Frontmatter

Fossil Fuels in the UE in the Era Before Russian Aggression in Ukraine

Frontmatter
Chapter 1. Divergence of EU Member States’ Interests in the Field of Energy Policy
Abstract
Russia’s aggression against Ukraine in February 2022 has to be recognized as a watershed moment in the energy policy of European Union countries.
Agnieszka Bryc
Chapter 2. Fossil Fuel Markets in the EU
Abstract
Energy policy is essentially fundamental to the functioning of modern economies. The countries of the European Union have made the greatest commitment to creating a common energy policy.
Dorota Niedziółka
Chapter 3. The Role of the Fossil Fuel Sector in EU Climate Policy
Abstract
The new EU climate policy regulations have certainly defined the European countries as the most developed and integrated in the area of climate action.
Dorota Niedziółka
Chapter 4. Sources of Financing Key Fossil Fuel Projects in the EU
Abstract
One of the key challenges facing many important sectors of the economy and the financial services market is the issue of the energy transition from fossil fuels to renewable energy.
Zbigniew Korzeb, Paweł Niedziółka
Chapter 5. Initiatives of Financial System Institutions to Move Away from Financing the Carbon Economy
Abstract
This part of the monograph presents and analyses the role of the financial system in the energy transition as well as initiatives of central banks, supervisory bodies and private institutions.
Zbigniew Korzeb, Paweł Niedziółka
Chapter 6. The Role of the Banking Sector in the Energy Transition
Abstract
The chapter presents arguments for the key role of the banking sector in the energy transition. Banks’ activities can be divided into four areas. Firstly, they are to minimise a direct impact on the environment through the rational management of electricity, water, heat, natural gas, fuels, the consumption of typical office materials (paper, toner, etc.), reduce municipal waste and air pollution.
Zbigniew Korzeb, Paweł Niedziółka

Energy Transformation Challenges for the UE in the New Economic and Geopolitical Environment

Frontmatter
Chapter 7. Changing Strategic Alliances in the Fossil Fuel Market as an Implication of the Russian Federation's Aggression Against Ukraine
Abstract
Russia's full-scale aggression against Ukraine on 24 February 2022 forced strategic alliances among European fossil fuel importers to change.
Agnieszka Bryc
Chapter 8. The Impact of Russia’s Invasion of Ukraine on the European Gas Supply: An Emphasis on New Gas Import Infrastructure in the EU
Abstract
The world population has increased by 30 percent in this millennium (UNCTAD 2023), resulting in a natural increase in energy consumption. However, energy demand has grown at an even higher rate than the population. Global energy consumption has increased by more than 50 percent from the year 2000 to today.
Kari Liuhto
Chapter 9. Potential Directions for Changes in the EU’s Climate Policy
Abstract
In 2015, achieving climate targets was identified as humanity's greatest challenge for the coming decades. Meanwhile, 2019 and 2022 have fuelled anxieties and intensified questions about the pace of climate policy changes being introduced, their costs and chances of implementation.
Dorota Niedziółka
Chapter 10. The Role of the Financial System in the Process of Imposing Sanctions on the Russian Energy Sector
Abstract
International sanctions are one of the most commonly used instruments of influence against countries, organisations, legal or natural persons whose activities violate the principles and norms of international law, including international human rights law, and pose a threat to global or regional peace and security.
Zbigniew Korzeb, Paweł Niedziółka
Chapter 11. Credit and Investment Policies of Banks Towards the Fossil Fuel Sector as Part of the EU's New Energy Governance
Abstract
The situation on international markets and its unpredictable impact on the external environment of banks make it necessary to pay particular attention to the lending and investment policies of banks in the context of financing the energy sector, the extraction of raw materials and their transport.
Zbigniew Korzeb, Paweł Niedziółka

Energy, Oil and Gas Sectors in the Era of Economic and Geopolitical Upheaval—Microeconomic Perspective

Frontmatter
Chapter 12. Causal Relationships of the Listing of EU Energy, Oil and Gas Companies with Fossil Fuel Markets
Abstract
The impact of crude oil and natural gas prices as well as the prices of the CO2 emission allowance on selected EU Energy, Oil and Gas companies prices is examined with an augmented autoregressive distributed lag (ARDL) bounds test and weekly price time series.
Maciej Mróz, Zbigniew Korzeb, Paweł Niedziółka
Chapter 13. The Impact of Fossil Fuel Price Volatility on EU Energy, Oil and Gas Share Price Volatility
Abstract
Many methods for assessing volatility and making forecasts in literature are applied, e.g. econometric models and soft computing models.
Maciej Mróz, Zbigniew Korzeb, Paweł Niedziółka
Backmatter
Metadaten
Titel
Fossil Fuels in the European Union
verfasst von
Zbigniew Korzeb
Paweł Niedziółka
Kari Liuhto
Agnieszka Bryc
Dorota Niedziółka
Maciej Mróz
Copyright-Jahr
2024
Electronic ISBN
978-3-031-56790-2
Print ISBN
978-3-031-56789-6
DOI
https://doi.org/10.1007/978-3-031-56790-2