<p>This study presents a comprehensive evaluation of Ghana’s energy security and environmental sustainability using a multi-indices approach. Focusing on five key indicators: the Herfindahl–Hirschman Index (HHI), Shannon–Wiener Index (H), Simpson Index (D), Adjusted Shannon–Wiener Neumann Index (SWNI), and Carbon Intensity Index (CI) are employed to assess the concentration, diversification, and dependency of Ghana’s energy sources alongside carbon emissions. The results indicate a highly concentrated energy portfolio, with petroleum products and biomass dominating the energy mix. The HHI score of 0.23 reflects moderate market concentration, while the Shannon–Wiener Index of 1.5 and Simpson Index of 4.3 highlight a relatively diverse but still imbalanced energy mix. The SWNI1 score of 0.37, accounting for political risk, reveals a vulnerability due to reliance on imported energy. Furthermore, the Carbon Intensity Index of 5.50 kt CO₂ per ktoe of energy consumed (2022) underscores significant carbon emissions, necessitating a sustainable energy transition. These findings emphasize the need to enhance domestic energy production, diversify energy sources, and adopt low-carbon technologies to improve Ghana’s energy security and environmental resilience.</p>