The Role of Energy Sector in the Sustainable Development of the Regional Economy

Abstract:

Sustainable development, which over the past decades has been the most important trend of all global transformations, involves improving the economic, social and environmental spheres of countries and regions, focused on meeting the needs of modern society without harming future generations. The sustainable development process includes many aspects: the rational distribution and use of natural resources, scientific and technological progress and the spread of new, environmentally-friendly technologies, the rational direction of investments, responsible consumption, crisis prevention, poverty alleviation and improving the living standards of the population. Their harmonious combination contributes to the formation of a new model of development of world civilization, which provides resistance to impending crises of global, regional and local scale, as well as reducing the severity of pressing problems facing humanity. The search for mechanisms for sustainable development of regions in the context of their energy supply is the most important task of each state, especially in conditions of increasing economic instability, accompanied by an uncontrolled increase in the consumption of natural resources. One of the solutions is to use the potential of the energy sector, which ensures the functioning of all sectors of the economy of countries and regions. Therefore, the energy sector is the basis for the well-being of society as a whole.

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