Indian Economy News

India ranks 87th in global energy transition index

  • IBEF
  • April 22, 2021

According to a survey, India is ranked 87th out of 115 countries in the Energy Transition Index (ETI), which monitors countries' current success in various aspects of their energy systems.

On Wednesday, the World Economic Forum (WEF) paper, prepared in collaboration with Accenture, includes ETI insights.

The top ten countries in the index are all from Western and Northern Europe, with Sweden topping the list, followed by Norway (2nd), and Denmark (3rd) (3rd).

Despite coal having to play a significant role in their energy mix, China (68) and India (87), which together account for a third of global energy demand, have both made significant progress over the past decade, according to the study.

With a strong political engagement and regulatory framework for the energy transition, India has targeted changes through subsidy reforms and rapidly scaling energy access.

China's gains are largely due to lower economic energy intensity, gains in decarbonizing the energy mix via the expansion of renewables, and changes in the enabling environment through investments.

The index measures 115 countries' readiness to shift to stable, efficient, accessible, and inclusive energy systems through three dimensions: economic development and growth, sustainability, and energy protection and access indicators.

The most recent study is based on an updated ETI approach that considers recent developments in the global energy environment as well as the growing urgency of addressing climate change.

According to the survey, 92 of the 115 countries monitored on the ETI have improved their aggregate score over the last ten years, confirming the global energy transition's positive trajectory and steady momentum.

Mr. Roberto Bocca, Head of Energy and Materials at WEF, said, “As we begin the decade of climate action and delivery, the emphasis must also include the transition's pace and resilience. Due to the changing environment of energy transition threats, sustainable incremental progress would be more difficult as the energy transition moves beyond the low hanging fruit.”

Switzerland (4), Austria (5), Finland (6), the UK (7), New Zealand (8), France (9) and Iceland (10) round out the top ten countries.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.