Global Energy Transition Index 2019

Global Energy Transition Index

Question: Global Energy Transition Index is an annual list, compiled by –
(a) World Economic Forum
(b) Asian Development Bank
(c) World Knowledge Forum
(d) None of the above
Answer: (a)
Related facts:

  • Global Energy transition index released on March 25, 2019.
  • This annual list compiled by Geneva- based world economic forum, has ranked 115 economies on how well they are able to balance energy security and access with environmental sustainability and affordability.
  • India has moved up two places to rank 76th on this Index.
  • India is amongst the countries with high pollution levels and has a relativity high CO2 intensity in its energy system.
  • Report added that despite this, 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.

Top three and Major Economics

  • Sweden remains on the top on the list and is followed by Switzerland and Norway in the top three.
  • Among major economics, the UK is ranked 7th, Singapore 13th, Germany 17th, Japan 18th, and the US 27TH.
  • Within Asia, Malaysia is ranked highest at 31st, Sir Lanka is 60th, Bangladesh 90th and Nepal 93rd.
  • India is also the second best in the BRICS block of emerging economics, with Brazil being the best at 46th place globally.
  • 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.

Suggestion for India

  • The report suggested there was a ground for optimism regarding India despite the current outdated energy system not being ready for the transition because an enabling environment is being built to support the future transition.
  • 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.

Links:
https://www.thehindubusinessline.com/economy/india-ranks-76th-on-wefs-global-energy-transition-index-sweden-on-top/article26631544.ece
https://www.moneycontrol.com/news/business/economy/india-ranks-76th-on-wefs-global-energy-transition-index-sweden-on-top-3694371.html

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