Compendium of Energy Economic Research 2020

Abstract

The concept of sustainable energy has emerged and become a global policy interest due to the current economic and environmental policy, which concerns global warming, climate change and sustainable development. Sustainability can be defined as the ability to meet the demand of energy service needs in reliable circumstances over a significant period (The Cambridge- MIT Institute, 2006). Sustainable energy security must take into account the security of energy supply and the affordability of energy demand. However, it must also emphasise harmonising and balanced energy resources, socio economy, and environmental sustainability. This means that current and future energy needs are highly likely to be met, irrespective of economic or political instability. Also, securing energy is vital for our economy and society to function, and policy decisions are often based on ‘improving energy security’. This research aims to develop the energy sustainability index with risk and security, drawing on discussions with energy key experts in Malaysia and Japan energy institutional sectors. The focus was on energy sustainability's five dimensions: availability, accessibility, affordability, acceptability, and develop-ability. Based on the linkages and overlaps between energy supply-demand dimensions and environmental sustainability and sustainable development dimensions, a framework for evaluating and measuring the relative attributes of different approaches to energy sector development is formulated.