Energy Transition Index: WEF
The annual rankings of the global Energy Transition Index have been released by the World Economic Forum (WEF) . This index benchmarks 115 economies on the current performance of their energy systems.
Data Analysis
- For the third consecutive year, Sweden has topped the Index. It is followed by Switzerland and Finland in the top three.
- The only G20 countries in the top ten are France 8th) and the UK (7th.
- Consistent annual improvements have been shown by Argentina, China, India and Italy.
- 75% of countries have improved their environmental sustainability as per the 2020 results.
India՚s Ranking and Reasons
- India has moved up two positions to rank 74th.
- There have been improvements in all three dimensions of the energy triangle namely:
- Energy access and security
- Economic development and growth
- Environmental sustainability
- India has also made significant progress in energy efficiency:
- Bulk procurement of LED bulb
- Smart meters
- Programs for labelling of appliances
Impact of Covid-19
Covid-19 risks have hampered the recent progress in transitioning to clean energy, unprecedented fall in demand, price volatility, etc.
Important Suggestions
- More robust and resilient policies, roadmaps and governance frameworks for energy transition at national, regional and global levels.
- The economic recovery packages sch as the Pradhan Mantri Gareeb Kalyan Yojana by India can accelerate the transition to clean energy.
World Economic Forum
- A Swiss nonprofit foundation established in 1971.
- It is based in Geneva, Switzerland.
- Major reports published by WEF are Global Risk Report, Global Gender Gap Report, Global Competitiveness Report, Global IT Report, Global Travel and Tourism Report.
✍Examrace Team at Dec 30, 2021