ENERGY TRANSITION INDEX 2024 (Syllabus: GS Paper 3 – Env and Eco)

News-CRUX-10     20th June 2024        

Context: India has recently been ranked 63rd on the global Energy Transition Index, highlighting the country's significant improvements in energy equity, security, and sustainability.

Energy Transition Index 2024

  • About: It is benchmarks 120 countries on their current energy system performance and on the readiness of their enabling environment, finds that while there has been notable progress in energy efficiency and a marked increase in the adoption of clean energy sources, energy transition momentum 
  • Published by: World Economic Forum (WEF)
  • Officially known as: "Fostering Effective Energy Transition
  • Top Countries: Sweden, followed by Denmark, Finland, Switzerland and France.
  • Bottom Countries: Tanzania, followed by Yamen and Congo.
  • Emerging economies such as Brazil and China made notable progress, although 83% of countries moved backwards from last year in at least one of the three energy system performance dimensions – security, equity and sustainability. 
  • The gap in energy transition performance between advanced and developing economies continues to narrow, although disparities in investments and regulation remain.
  • India’s neighbour countries rank:  China 20th Rank, Nepal 100th rank, Bangladesh 109th, Pakistan 113th Rank.

World Economic Forum

  • About: The WEF is a Swiss nonprofit foundation established in 1971, based in Geneva, Switzerland.
  • Initiated by: German professor Klaus Schwab
  • Recognized by: Swiss authorities as the international institution for public-private cooperation.
  • Mission: Committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas.