India ranked 67th on Energy Transition Index, Sweden on top: World Economic Forum

With significant improvement in key parameters of energy equity & security, and environmental sustainability, India jumped 20 places to the 67th?position among 120 countries in the ?Energy Transition Index? (ETI), according to a report released by the World Economic Forum Wednesday.?ETI benchmarks the countries on the performance of their energy systems, and also their readiness to secure sustainable energy systems

In 2021, India was at the 87th?position among 115 countries. India and Singapore (70th) are the only major economies showing transition momentum by advancing sustainability, energy security and equity in a balanced way, according to the report titled ?Fostering Effective Energy Transition?2023?. Along with China and Indonesia, India is among the 55 countries that have improved their ETI score by more than 10 percentage points over a decade.

Sweden once again topped the ETI followed by Denmark and Norway. These countries have been in the top three for the past decade.

In its report, the WEF said that while there has been broad progress on clean, sustainable energy, there are emerging challenges to the equity of transition due to countries shifting their focus to energy security.

?This speed of transition is not sufficient to meet the Paris Agreement targets in an inclusive and secure way. The geopolitical and macroeconomic volatilities that prompted the recent global energy crisis shifted countries? focus to maintaining secure and stable energy supply at the expense of universal affordability and challenged progress observed in the past decade,? WEF said in a statement.

The Paris Agreement, signed 2015 to beat climate change, aims? to?keep the global temperature rise this century below 2 degrees Celsius, and to further limit the increase to 1.5 degrees Celsius.

This time, the ETI was based on an updated framework reflecting emerging shifts in the global energy landscape to benchmark 120 countries in two areas: the performance of their energy systems in the dimensions of equity, energy security and environmental sustainability, and the readiness of the enabling environment for energy transition. The ?transition momentum? was evaluated for the first time. (PTI)