Global NEST Journal, Vol 15, No 3, pp 273-281, 2013 Copyright© 2013 Global NEST Printed in Greece. All rights reserved MODELING THE RELATIONSHIP AMONG ENERGY DEMAND, CO2 EMISSIONS AND ECONOMIC DEVELOPMENT: A SURVEY FOR THE CASE OF GREECE HATZIGEORGIOU E. Energy Management Laboratory, Dept. of Environment POLATIDIS H.* University of the Aegean HARALAMBOPOULOS D. University Hill, Xenia Building, Mytilene 81100, Greece Received: 06/08/12 *to whom all correspondence should be addressed: Accepted: 09/04/13 e-mail: hpolat@env.aegean.gr ABSTRACT The purpose of this paper is to offer an initial presentation and classification of the methodological approaches used to analyzing energy demand, related CO2 emissions and economic development for countries, regions and subsequently to provide for an extended survey of related articles for the case-study of Greece that identified 48 scientific publications. It was found that all three main existent methodological analytical schemes, namely ‘Top-down’ models, Econometric methods and Decomposition Analysis methods, have been applied to model energy, environmental and macro- economic variables for Greece. Specific application areas included sectoral (industrial, transport, tourism, manufacturing, residential and electricity) energy demand and related CO2 emissions, energy prices and energy taxation. The paper culminates to a comprehensive comparison of employed methods and obtained results for Greece and conclusions. KEYWORDS: Energy demand, CO2 emissions, Economic development, Survey, Greece. INTRODUCTION As a fundamentally empirical activity, the practice of modeling of the relationship among energy use, CO2 emissions and economic development is necessarily a synthesis of data and methods (Greening et al., 2007). To this end, particular quantitative methodological tools and models appeared in the scientific literature in the late 70s, early 80s. The objective of this article is to provide for an initiatory overview and categorization of the methodologies used in this area, and a survey and a first round comparison of relevant studies for the case of Greece. There is a multi-dimensional need for this review paper:  There emerges an urgent need for current economic recession to be analyzed and accordingly tackled in order for Greece to be back on track towards a sustainable state form an economic, energy and environmental point of view.  Greece has ratified the Kyoto Protocol and is in the process of assessing its course regarding greenhouse gas emissions under the post-Kyoto procedures.  According to the Ministry of Development of Greece, at the end of 2020 CO2 emissions will surpass the 1990 level by 68% leading the country to an unsustainable state form an environmental point of view (YPAN, 2004). Nevertheless, recent severe economic recession has significantly affected energy consumption and it would be expected that new scenarios for CO2 emissions will be set at lower levels.  Energy intensity has been decreased by 13% for 1980-2005, indicating improvements in energy efficiency and a shift from industry towards services, which are typically less energy intensive (YPAN, 2004).  Under the 1980–2009 period, structural changes in the Greek energy sector (e.g. the penetration of natural gas in the electricity generation and the building sector) and economic reforms programmes (e.g. Community Support Framework I, II and III) have occurred, whereas the National Strategic Reference Framework is currently under progress.