What is Global Energy Transition Index? The energy transition is a pathway toward the transformation of the global energy sector from fossil-based to zero-carbon by the second half of this century. At its heart is the need to reduce energy-related CO2 emissions to limit climate change. In another way, a transition between Non-Renewable Sources to Renewable Sources.
Now, why do we transition energy?
The energy transition involves shifting from a system based on fossil fuels (oil, gas & coal) to one dominated by clean, renewable electricity. Its aim is to reduce energy-related carbon dioxide (CO2) emissions to help meet global climate targets.
India has been ranked at the 87th position among 115 countries in the Energy Transition Index (ETI) that tracks nations on the current performance of their energy systems across various aspects, according to a report.
The World Economic Forum (WEF) released the report on Wednesday. Prepared in collaboration with Accenture also draws on insights from ETI.
Only 13 out of the 115 countries have made steady gains. The top 10 countries in the index are Western and Northern European countries. Sweden is in the first position followed by Norway (2nd) and Denmark (3rd).
Brazil, Canada, Malaysia, Singapore and Turkey have been relatively stable.
“China (68) and India (87), which collectively account for a third of global energy demand, have both made strong improvements over the past decade. Despite coal continuing to play a significant role in their energy mix,” the report said.
The list of top performers in the ETI has stayed broadly consistent over the course of the decade.
Although each country’s energy transition pathway is different, they all share common attributes including:
– Low levels of fossil fuel subsidies,
– enhanced energy security from a diversity of fuel mix and import partners,
– improving carbon intensity.
Look into image for the complete list.