On the 25th of May, ISET was pleased to host the environmental economist and founder of the consultancy company GIST Advisory, Pavan Sukhdev, for a presentation. Starting his career as a physicist, Mr. Sukhdev got interested in the challenges of environmental protection. This led him to investigate economics, particularly aiming at understanding the significance of businesses as a driver of the changes that we see around us as well as third-party impacts, which are known as externalities in economics.

“The Economics of Nature. Can Georgia afford Economic Growth without Taking Care of its Nature?” was the title of a panel discussion jointly organized by GIZ and ISET, and examined an important issue facing the country.

Listening to discussions in professional circles and among policymakers, one can easily notice that the topic of energy security is often used as a reason to justify certain decisions or point out the problems existing in the sector. Energy security is frequently associated with energy “independence” – a condition that only a few countries in the world can claim to have achieved.

Despite the fast pace of installing gas infrastructure throughout the country, wood remains a major household fuel in Georgia. According to Georgia’s energy balance, in 2014, Georgian households consumed 19,131 Terajoules of biofuel and waste (mainly wood). The share of wood in total energy consumed by households was 38%.

Every winter, one of the most actively discussed issues of energy policy – both on TV and in professional circles - is natural gas. Prices and supply conditions are frequently part of the political debate. The main reason behind such active discussion is energy security concerns. What is energy security?