Šteinbuka, I., Bogdanova, O. (eds). Towards Climate Neutrality: Economic Impacts, Opportunities and Risks : reviewed monograph. Riga: University of Latvia Press, 2023. 272 pages.

The monograph has been prepared and published within the framework of the Ministry of Economics research project “Modeling and analysis of the economic impact of climate goals” at the University of Latvia Faculty of Business, Management and Economics Productivity Research Institute “UL think tank LV PEAK”.

ISBN 978-9934-18-947-0
ISBN 978-9934-18-948-7 (PDF)

The idea of this monograph is to present a set of interdisciplinary studies of the researchers from different countries to help creating a comprehensive roadmap towards climate neutrality.

PDF file (4.75 MB)


Angela Wilkinson
Andris Piebalgs

Inna Šteinbuka

Part I. Scene setting

Olga Bogdanova. Interview with Raimonds Čudars, Minister for Climate and Energy

Valdis Dombrovskis. Europe’s energy policy – from short-term solutions to the crisis to the long-term outlook

Part II. Energy policy and economy

Oļegs Barānovs, Jānis Salmiņš, Irina Skribāne. Long-term macroeconomic trends affecting the Latvian energy sector

Olga Bogdanova, Kārlis Piģēns. Factors affecting energy costs: Green deal impact

Ahmad Humbatov. The role of natural gas in energy transition

Konstantinos Fragkiadakis, Dimitris Fragkiadakis, Leonidas Paroussos. Substitution elasticity of energy and other production factors: An empirical estimation for 27 EU Member States and other major economies

Part III. Finding the best balance of Energy Trilemma

Edgars Groza, Kārlis Gičevskis, Edgars Smiltāns, Inese Karpoviča, Gunārs Valdmanis. Latvia’s energy supply and security

Karīna Viskuba, Anrijs Tukulis, Tomass Liepnieks, Haralds Millers. Latvia’s environmental sustainability and green energy development in terms of the WEC Energy Trilemma Index Tool 

Romāns Oļekšijs, Fēlikss Zajecs, Egons Rozenfelds. Energy equity: Story about equality

Ana Sousa, Bruno Henrique Santos, Francisco Carlos, Henrique Pombeiro, João Graça Gomes, Margarida Gonçalves, Muriel Iten, Nuno Carvalho, Pedro Frade, Pedro Ferreira. Life cycle assessment of renewable energy sources towards climate neutrality – Portuguese case study

Part IV. Case studies of transition-related fields

Felipe Bastarrica, Lorena Di Chiara, Ignacio Estrada, Federico Ferrés, Gonzalo Irrazabal, Juan Manuel Mercant, Alejandro Perroni, Ariel Álvarez. Emerging green hydrogen economy and Uruguay as a case study

Kaushal Kishore. Energy transition in India and emergence of electric vehicles: Opportunities and challenges ahead

Olegs Krasnopjorovs. Is Riga a green city? Measuring a perceived quality of the environment in Riga compared to other European cities

About the authors



Monogrāfija “Virzība uz klimata neitralitāti: ietekme uz ekonomiku, iespējas un riski” (Towards Climate Neutrality: Economic Impacts, Opportunities and Risks). Kopsavilkums