India ranks 63rd on Energy Transition Index: WEF
NEW DELHI: India has been ranked 63rd on a global Energy Transition Index released on Wednesday by the World Economic Forum, which said the country has shown significant improvement across energy equity, security and sustainability.
European nations dominated the top ranks with Sweden topping the index, followed by Denmark, Finland, Switzerland and France in the top five.
The improvement shown by India and some other developing countries such as China and Brazil assumes significance as 83 percent of countries have moved backwards from last year in at least one of the three energy system performance dimensions -– security, equity and sustainability.
Taking note of various initiatives taken in India, the World Economic Forum (WEF) said the country is leading the way in creating outcomes that can be replicated elsewhere.
It said the governments can also consider creating awareness and policy interventions, such as guidelines for energy-efficient built infrastructure and incentives for retrofitting, to shape an enabling environment for accelerated adoption.
“The developing world has an opportunity to rewrite the rules and show the way to successfully transform energy demand — an example of reverse innovation is frugal, scalable innovation originating in developed countries and then scaled across the world,” it added.
On the role of China and India, the WEF said that with roughly a third of the global population, these two countries will play a critical role.
“Both have experienced progress in renewable energy buildout, energy access improvements and energy security,” the WEF said.
Globally, the report said the energy transition to a more equitable, secure and sustainable energy system is still progressing.
While 107 of the 120 countries benchmarked in the report demonstrated progress on their energy transition journeys in the past decade, the overall pace of the transition has slowed and balancing its different facets remains a key challenge.
Taking note of various initiatives taken in India, the World Economic Forum said the country is leading the way in creating outcomes that can be replicated elsewhere