The world energy system is undergoing a critical phase, with rising energy demand, lack of adequate energy access, heightened geopolitical risk, and natural disasters. The energy trilemma is an emerging concept that addresses three often conflicting challenges: energy security, equitable access to energy, and environmental sustainability. In the context of Asian and African countries, the over-dependence on fossil fuels, limited access to modern energy, unequal access and unaffordability of energy, inadequate infrastructure, limited investment, and climate change pose a serious threat to the development and transitioning of energy systems. Thus, a practical assessment of the energy trilemma&rsquos level is crucial for assessing the current state of countries from these regions&rsquo energy landscapes and making substantial progress towards Sustainable Development Goals 7. Moreover, balancing the energy trilemma of Asian and African countries becomes a challenge and an economic opportunity to enhance economic growth and develop energy systems. In the current study, we first propose to investigate the effects of sectoral energy intensity, environmental taxation, and environmental technology innovations on energy trilemma. Second, we investigate the impacts of natural disasters, geopolitical risk, and monetary and fiscal space on energy trilemma. Thirdly, our study examines that between energy diversification and energy transition, which is an essential driver of balancing the energy trilemma index. Finally, this study examines the effects of balancing energy trilemma on green growth. For our analysis, 39 countries from the Asian and African regions were selected, which are in the bottom 50% of the energy trilemma index, considering the period from 2000 to 2023. This study is intended to help policymakers understand the factors that affect the energy trilemma more clearly and to balance it by formulating and implementing targeted policies.