ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Sep
24

Biosphere Reserve – The Role Model of Regions for Sustainable Development

"And what we're (at National Geographic) doing is a series of journeys to the ethnosphere where we're going to take our audience to places of such cultural wonder that they cannot help but come away dazzled by what they have seen, and hopefully, therefore, embrace gradually, one by one, the central revelation of anthropology: that this world deserves to exist in a diverse way, that we can find a way to live in a truly multicultural, pluralistic world where all of the wisdom of all peoples can contribute to our collective well-being." - Extract from the N...
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Jun
18

The Quest of Finding Blue Money

Do you happen to have some 1.7 trillion USD to spare? Somewhere between 2 and 10% of the Georgian population suffers from lack of basic access to drinking water (Global High-level Panel on Water and Peace, 2017; The Global Water Partnership and OECD, 2015). Globally, 1 in 4 people will be affected by shortages of fresh water by the year 2050 (United Nations, 2018). It is therefore necessary to look at financial instruments that could help safeguard the supply of fresh water. Here, we will look at examples of such financial instruments, which have, for in...
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May
14

Air Quality in Georgia. How Are We Doing?

If you are a governmental stakeholder, civil society organization, research institute or a concerned citizen pondering the state of the environment, the biennial Environmental Performance Index (EPI) tells an inconvenient truth regarding the trajectory of each country and their performance. The rankings provide unpolished results concerning countries and their commitments, or lack thereof, to the Sustainable Development Goals (SDGs) and other complementary international agreements. The EPI list should provide signposts for policymakers to fathom what act...
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May
12

Is Abkhazia Consuming Too Much? – March 2018 Electricity Market Review

In March 2018, Georgian power plants generated 997 mln. KWh of electricity (+35% compared to March 2017, and + 7% compared to February 2018). Nearly a quarter (24 %) of this electricity was produced by the Enguri and Vardnili hydropower plants, which produced 188 mln. kWh and 49 mln. kWh, respectively. Consumption of electricity on the local market was 1,116 mln. kWh (+9% compared to March 2017, and +5% compared to February 2018). Around 19% of this electricity was consumed by Abkhazia (207 mln. kWh). The Enguri and Vardnili HPPs represent nearly the onl...
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Apr
16

A Good February for Electricity Generation: Time for Reflection, After Last Year’s Worries

  In February 2017, Georgia experienced the largest gap between generation and consumption in the last decade. This was followed by an even greater gap in March 2017. The size of those gaps, and the fact that the historical trend was suggesting an increase in the electricity gap, prompted policy proposals emphasizing the need to encourage investments in power generation. The goal of such policies would be to avoid future energy security challenges due to electricity shortages and fast increasing electricity prices. Most of the strategies suggested s...
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