Energy Policy in the World Economy and the Economic Foundations of Mobilizing Financial Resources
Dagbey Allahverdiyev1* , Ali Allahverdiyev2 , Nigar Allahverdiyeva2 ,
Gunel Allahverdiyeva3 , Guldana Gasimova3
Abstract. This study examines the development directions of renewable energy policy and the economic foundations of mobilizing financial resources in the context of the modern global political and economic environment. The research highlights the growing importance of renewable energy as a key factor in ensuring sustainable economic growth, macroeconomic stability, and long-term energy security. In the context of increasing geopolitical risks and climate change challenges, the transformation of global energy policy has become inevitable. The transition to renewable energy sources is not only an environmental necessity but also an economic priority that contributes to reducing external energy dependence, stabilizing balance of payments, and enhancing investment efficiency.
The study emphasizes that the mobilization of financial resources plays a crucial role in supporting renewable energy projects through innovative financial instruments, including green bonds, climate funds, and public-private partnerships. These mechanisms facilitate the allocation of capital toward environmentally sustainable and economically efficient sectors.
Furthermore, the research analyzes the role of state regulation, fiscal policy, and institutional frameworks in ensuring effective financial mobilization and sustainable economic development. It is argued that the integration of economic, legal, and political factors strengthens the overall impact of energy policy on social welfare and economic stability.
The findings suggest that renewable energy policy, supported by efficient financial mechanisms, significantly contributes to sustainable development by improving economic resilience, fostering innovation, and ensuring environmental balance.
Keywords: renewable energy policy, financial resources, sustainable economic growth, green finance, energy security, economic development