The World Economic Forum on June 28 ranked India at the 67th place globally on its Energy Transition Index 2023.
Key points
- Sweden topped the list and was followed by Denmark, Norway, Finland and Switzerland in the top five on the list of 120 countries.
- France (7) was the only G20 country in the top 10, followed closely by Germany (11), the U.S. (12), and the U.K. (13).
- The report was published in collaboration with Accenture.
- The report said the global energy transition has plateaued amid the global energy crisis and geopolitical volatilities, but India is among the countries that have made significant improvements.
- The index says that India is the only major economy with energy transition momentum accelerating across all dimensions. For example, despite continued economic growth, India has successfully reduced the energy intensity of its economy and the carbon intensity of its energy mix, while achieving universal energy access and effectively managing affordability of electricity.
- India also emerged relatively less affected from the recent energy crisis, largely due to the low share of natural gas in power generation and increased use of existing generation capacities.
