Human capital in the sustainable economic development of the energy sector

TL;DR

This paper highlights the importance of human capital investment in promoting sustainable economic growth in the energy sector, emphasizing its increasing research interest and global relevance.

Contribution

It provides a bibliometric analysis of research trends on human capital's role in sustainable energy development using a large dataset and network analysis tools.

Findings

Human capital investment is crucial for long-term sustainable growth.

Research interest in human capital in energy is increasing globally.

The role of human capital is gaining popularity among researchers.

Abstract

This study examines the role of human capital investment in driving sustainable socio-economic growth within the energy industry. The fuel and energy sector undeniably forms the backbone of contemporary economies, supplying vital resources that underpin industrial activities, transportation, and broader societal operations. In the context of the global shift toward sustainability, it is crucial to focus not just on technological innovation but also on cultivating human capital within this sector. This is particularly relevant considering the recent shift towards green and renewable energy solutions. In this study, we utilize bibliometric analysis, drawing from a dataset of 1933 documents (represented by research papers, conference proceedings, and book chapters) indexed in the Web of Science (WoS) database. We conduct a network cluster analysis of the textual and bibliometric data using VOSViewer software. The findings stemming from our analysis indicate that investments in human capital are perceived as important in achieving long-term sustainable economic growth in the energy companies both in Russia and worldwide. In addition, it appears that the role of human capital in the energy sector is gaining more popularity both among Russian and international researchers and academics.