About
- The report is released by World Economic Forum. The report ranks 115 economies on their ability to balance energy security and access with environmental sustainability and affordability.
Key Findings
- Sweden has been ranked on the top and is followed by Switzerland and Norway.
- Countries around the world are upping the share of renewables in their energy mixes but not doing it quickly enough to meet the Paris Agreement goal.
- The report says in order to achieve a stable, sustainable and affordable global energy system will require a collaborative and systematic approach to solving problems and exploiting opportunities such as new technologies of the Fourth Industrial Revolution (4IR).
- The report says despite the diversity of top-performing nations in their primary energy mix, systems and resources, they all share certain characteristics, demonstrating a combination of technical advances and effective policy-making and implementation.
- Countries with high scores performed well on their readiness for energy transition.
- Countries at the bottom of the ranking often lack effective regulatory frameworks and suffer from political instability.
- Despite high contribution from energy sector to economic development and growth due to large fossil fuel reserves, Nigeria has been ranked in the bottom 10% of countries in the report, with low overall system scores and lack of enabling infrastructure.
- 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.
Top-ranked countries:
| Rank | Country | Score |
|---|---|---|
| 1. | Sweden | 74.9% |
| 2. | Switzerland | 74.3% |
| 3. | Norway | 73.4% |
| 4. | Finland | 73% |
| 5. | Denmark | 72.2% |
India's Performance
- India moved up two places to rank on 76th on Global Energy Transition Index 2019 which was ranked at 78th position last year.
- The country is also amongst the countries with high pollution levels and has relatively high level of CO2 intensity in its energy system.
- India scored low in terms of system performance (ranking 97 and 86, respectively), it ranks considerably higher when it comes to readiness (45 and 61, respectively).
- In the BRICS block of emerging economies, India is the second best with Brazil being the best at 46th place globally.
- India is the only amongst the five economies that had improved its ranking since last year.
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- http://www.bankexamstoday.com/2019/03/global-energy-transition-index-2019.html
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