Yildirim, HakanEyüboğlu, KemalAkdağ, SaffetAlola, Andrew Adewale2024-09-112024-09-112024978-104011913-6978-103230675-9https://doi.org/10.1201/9781003306214-9https://hdl.handle.net/11363/8634Although most energ-dependent countries have consistently aimed at implementing economic diversification policy, the approach is not as easy as it is always suggested. İn addition, the energy market has in recent time been significantly driven by the environmental sustainability and sustainable growth campaign of United Nations Development Programmes (UNDP) and other environmental-oriented intergovermental agencies such as the United Nations Framework Convention in Climate Change (UNFCCC) (United Nations 2020, UNFCCC 2020). While the global energy outlook by 2050 is attributed to the driving force of the global energy transition, the manner of energy utilization across the main sectors (primary energy consumption by end-use sectors) of the economy will play a significant role (British Petroleum 2021). In specific, the British Petroleum (2021) report noted that the industrial sector accounted for the largest sectoral (45%) of global energy utilization in 2018, while residential and commercial building, transportation, and the non-combusted use of fuels respectively accounted for 29%, 21%, and 5% of global energy use in the same year. © 2024 Andrew Adewale Alola, Festus Victor Bekun and Uju Violet Alola.eninfo:eu-repo/semantics/closedAccessBook Chapter11612210.1201/9781003306214-92-s2.0-85198948853N/A