How geopolitical risks, green finance, and environmental technologies dynamics shape energy trilemma in BRICS economies?
Energy Policy, vol.217, 2026 (SCI-Expanded, SSCI, Scopus)
- Publication Type: Article / Article
- Volume: 217
- Publication Date: 2026
- Doi Number: 10.1016/j.enpol.2026.115453
- Journal Name: Energy Policy
- Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Social Sciences Citation Index (SSCI), Scopus, ABI/INFORM, Compendex, EconLit, Environment Index, Geobase, Greenfile, Index Islamicus, INSPEC, Public Affairs Index, Natural Science Collection (ProQuest), Business Source Ultimate (EBSCO)
- Keywords: BRICS countries, Energy trilemma, Environmental technologies, Geopolitical risks, Green finance
- Azerbaijan State University of Economics (UNEC) Affiliated: No
Abstract
The relationship between geopolitical risk, green finance, environmental technologies and the energy trilemma is an important but largely neglected issue in the existing literature. In this regard, this paper sets out to examine the influence of geopolitical risk, green finance, and environmental technologies on the three dimensions of the energy trilemma: energy security, energy equity, and environmental sustainability in BRICS countries from 2000 to 2023. Due to possible cross-sectional dependence, slope heterogeneity, and endogeneity issues, second-generation econometric analysis and instrumental-variable approaches are employed. The empirical results show that geopolitical risk has a positive impact on energy security and energy equity but negatively impacts on environmental sustainability. Furthermore, green finance is a significant contributor to energy security in energy systems, with substantial positive effects on access and affordability equity. Moreover, environmental technologies exert a positive and statistically significant effect solely on energy equity. In addition, the energy trilemma findings reveal that the phenomenon of green growth has negative effects, except for environmental sustainability. The moderating variables of green finance and environmental technologies are specifically mentioned in the results, which demonstrate their impact on the market's output concerning the effect of geopolitical risk on energy orientation. The findings highlight the importance of aligning innovation, financial technologies, and policy frameworks. Such alignment is key to safeguarding energy security and equity amid geopolitical uncertainties, while also driving a timely transition toward clean, and sustainable energy systems.