Question: which of the following statements are correct?
i) CLIMATESCOPE Survey 2020 is done by Bloomberg New Energy Finance Limited (BNEF)
ii) This survey presents the attractiveness of emerging markets for clean energy investment.
iii) India ranked 2nd in 2020 edition of survey.
a) only i
b) only ii
c) only iii
d) all of the above.
Answer: d)
Context
- In BNEF’s Climatescope survey, ‘Emerging Markets Outlook 2020: Energy Transition in World’s Fastest Growing Economy’; India with score of 2.6 drops to 2nd position from its 1st rank in 2019.
Facts
- Climatescope is BloombergNEF’s (BNEF) public view on the energy transition in emerging markets.
- Climatescope 2020 encompasses 108 emerging markets, as well as 29 developed nations.
- After nine years covering exclusively emerging markets, Climatescope 2020 expanded to include developed economies.
Ranking
- Chile regained its top position in 2020 edition of survey.
- India slips to 2nd position from its 1st position in 2019.
- Brazil bagged 3rd spot.
India’s Performance
- For India, its ambitious policy framework and copious capacity expansions make it an attractive market for clean energy investment.
- The government has set renewable energy target of 175 GW by 2020.
- Country’s drop to second position is mainly the result of a decline in clean energy investment, which fell 12 percent in 2018-2019 and has plummeted 32 percent since 2017.
- As per BNEF, India and China still remains the biggest emerging market for clean energy investment.
Methodology of Survey
- The Climatescope 2020 methodology includes 123 indicators and sub-indicators split into three key topic areas that encompass each market’s previous accomplishments, current investment environment, and future opportunities for clean energy growth.
- These indicators are Fundamentals, Opportunities and Experience.
- Fundamentals. This topic area encompasses a country’s clean energy policies, power sector structure and regulations as well as local barriers that might obstruct renewable energy development.
- Opportunities. This includes future opportunities for clean energy growth available in a market.
- Experience. This includes a market’s volume of installed clean energy and historical levels of renewable energy investment.
By – Kameshwar Shukla