- In the Geneva-based World Economic Forum (WEF)’s global energy transition index, India was ranked 76th. It has moved up two places.
- The index is the part of the World Economic Forum’s Fostering Effective Energy Transition report.
- Sweden retains first spot, followed by Switzerland, Norway and Finland. Among major economies, the UK is ranked 7th, Singapore 13th, Germany 17th, Japan 18th and the US 27th. Within Asia, Malaysia is ranked highest at 31st, Sri Lanka is 60th, Bangladesh 90th and Nepal 93rd.
- The annual list has ranked 115 economies by benchmarking countries’ energy systems based on an “energy triangle”, comprised of energy security and access, economic development and growth, environmental sustainability and how well they are set-up to succeed in the future.
- While India has scored low in terms of system performance, it ranks considerably higher when it comes to readiness to adapt to future energy needs.
- China is ranked even lower than India at 82nd position, though it ranks very high at seventh place in the world for regulation and political commitment.
- According to the report, India is amongst the countries with high pollution levels and has a relatively high CO2 intensity in its energy system. However, 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.
- The report suggested there was a ground for optimism regarding India despite the current outdated energy system not being ready for the transition because an enabling environment is being built to support the future transition.
