WEF Releases “Energy Transition Index 2021”

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

 

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