Decarbonisation of the economy through the introduction of innovative technologies into the energy sector

¹ National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Department of International Economics, 37 Victory avenue, build. 1, 03056 Kyiv, Ukraine
² National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Department of Theoretical and Applied Economics, 37 Victory avenue, build. 1, 03056 Kyiv, Ukraine

^* Corresponding author: o.o.trofymenko@gmail.com

Abstract

The article is devoted to topical issues of decarbonisation of the economy. The main purpose of the article is to study the relationship existing among key indicators of economic development, innovation in the energy sector and the amount of emissions, in particular, GDP per capita, Fossil CO2 per capita, Global Energy Innovation Index as a resulting indicator of the level of innovative technologies development in the energy sector as well as indicators of the development of renewable energy in different countries. The article also aims to identify ways of improving innovative development of the energy sector based on the study of measures taken by leading countries. The negative global trends in the direction of decarbonisation of the economy are found, for example, the growth rate of global investment in energy efficiency in 2019 compared to 2016 decreased by almost 6%, and the growth rate of investment in renewables fell by 0.7%. The main specific results of the analysis serve as a basis for establishing the ways of improving innovative development of the energy sector of the national economy with appropriate recommendations, taking into account successful world experience, which will accelerate the achievement of Sustainable Development Goals 7 and 12.