Energy Transition Index
World Economic Forum has released its global Energy Transition index. The annual list ranks 115 economies on their ability to balance energy security and access with environmental sustainability and affordability.
The index considers both the current state of the countries’ energy system and their structural readiness to adapt to future energy needs.
Performance of various countries:
Sweden retained its top spot on the list, followed by Switzerland and Norway in the second and third positions respectively.
The United States, which is placed at the 27th position, was found to have made progress in reducing the use of coal in power generation. It slipped in the rankings by two places due to concerns surrounding affordability of energy to households and regulatory uncertainty on environmental sustainability
The developing countries in Asia, on the other hand, showed significant improvements towards universal access to electricity led by India (76), Indonesia (63) and Bangladesh (90).
Key observations on India’s performance:
- India was found to be amongst the countries with high pollution levels and relatively high CO2 intensity in its energy system. Despite this, the report found that India has made significant strides to improve energy access in recent years and currently scores well in the area of regulation and political commitment towards energy transition.
- While India scored low in terms of system performance, it ranks considerably higher when it comes to readiness to adapt to future energy needs. Overall, India has moved up two places from its 78th position in 2018.
- India is among the five economies that have managed to improve their rank since last year.
- In the BRICS bloc of emerging economies, India was ranked second best, only after Brazil.