What is the News?
The World Economic Forum(WEF) has released the Energy Transition Index, 2021.
About Energy Transition Index(ETI), 2021:
- Energy Transition Index is an annual report by the World Economic Forum (WEF). It prepares the report in collaboration with Accenture.
- Purpose: The ranking aims to enable policy-makers and businesses to plan for a successful energy transition.
- ETI checks the readiness of countries for transition to secure, sustainable, affordable, and inclusive energy systems.
- Parameters: The index ranks 115 countries on the basis following three dimensions:
- Economic development and growth,
- Environmental sustainability and
- Lastly, Energy security and access;
Key Findings Related to India:
- Firstly, India ranks at the 87th position among 115 countries in the Energy Transition Index (ETI).
- Secondly, the report also says India improved in energy transition through the subsidy reforms and by increasing energy access with a regulatory environment and strong political commitment.
Other Key Takeaways:
- Firstly, Sweden tops the index. It is followed by Norway and Denmark.
- Further, China has been ranked 67th on the index. India and China collectively account for a third of global energy demand. However, their improvement level is strong over the past decade even though coal continues to play a significant role in their energy mix.
Source: Economic Times