Author(s)

ANZHELIKA KARAEVA, ELENA MAGARIL, ANDREY KISELEV, ERNEST BABA ALI

Abstract

The industry specifics of the energy sector, its central role in the global economy, geopolitical, environmental and climate challenges – all this creates an urgent need to develop and form fundamentally new approaches to the management of energy facilities. The implementation of the principles of sustainable management can become the basis for the development of a new management concept that will accelerate and improve the eco-modernization process of the energy sector and its adaptation to new socio-economic realities. However, it should be considered that the prospects for the transition to sustainable management in the energy sector in countries with different structure of the national economy, market conditions, state and structure of the fuel and energy complex may vary significantly; therefore, the framework for the transition to sustainable management should be adaptive and take into account these factors. In addition, the process of implementing new management principles may be substantially limited in different countries due to economic, political, legislative, institutional and other barriers. The purpose of the study is to identify the key prospects and barriers to the transition to sustainable energy management in developed and developing countries. As a result of the research, a list of key barriers to the implementation of sustainable energy management principles has been formed, prospects for the transition to a new management concept have been identified, and principles of sustainable energy management have been presented.

Keywords

energy sector, traditional energy, renewable energy, sustainable management, principles of sustainable management, circular economy