Trusting clean energy: novel perspectives on transition pathways for coal phaseouts and clean electrification phase-ins

Abstract

Institutional barriers contribute to the ambivalent performance of energy decarbonization efforts. Unexpected increases in demand for coal, driven by war in Europe, coupled with new and growing Asia-based investment in coal mines and power plants prove the need for novel coal transition pathways. At the same time, the UN aims to electrify communities with little or no access to clean and affordable energy. This work, in part, serves to support the UN 2030 Agenda for Sustainable Development. The 2030 Agenda is seventeen sustainable development goals (SDGs). The sum of the goals is about improving environments and communities. And for communities, goals focus on improving living and working conditions. SDG 7 concerns provisioning clean and affordable energy and technology. Trust structures, which provide sources of funding and governance systems, are an underutilized means of supporting coal transitions. Also, they could be equally effective if used to electrify communities with little or no access to electricity. A Trust providing a globalized "social security" solution can strengthen coal transitions. A Trust that speeds the deployment of electricity to areas with little or no access uses an old-line model. Early 20th century electric utilities developed using a "virtuous circle" transaction through which investment in communities and their economic development grew electricity sales. Two novel Trust models offered in this work overlap on coal transitions. Also, they offer pragmatic ways to help decarbonize the world. That is, the models may be applicable in other economic sectors. Using novel Trust models can improve the quality of human lives through clean energy transitions.