About the index
Global Energy Transition Index 2019 released by WEF for shaping the future energy with sustainable use along with environment protection.
It is System Initiative on Shaping the Future of Energy. The index benchmarks 115 countries on the current level of their energy system performance and the readiness of their macro environment for transition to a secure, sustainable, affordable and inclusive future energy system.
It measures how well they are able to balance energy security and access with environmental sustainability and affordability.
The report says in order to achieve a stable, sustainable and affordable global energy system will require a collaborative and systematic approach to solving problems and exploiting opportunities such as new technologies of the Fourth Industrial Revolution.
Report details – World performance
- Sweden remains on the top on the list and is followed by Switzerland and Norway in the top three.
- Among major economics, the UK is ranked 7th, Singapore 13th, Germany 17th, Japan 18th, and the US 27th.
- Within Asia, Malaysia is ranked highest at 31st, Sir Lanka is 60th, Bangladesh 90th and Nepal 93rd.
- China is ranked even lower than India at 82nd position, though it ranks very high at seventh place in the world for regulation and political commitment.
- Small economies have achieved higher scores on readiness, with the UK being the only G7 economy in the top 10.
India ‘s Performance:
India’s rank is 76th, up two ranks than the previous reports.
Despite its low ranking, India is the second best in the BRICS block of emerging economies, with Brazil being the best at 46th place globally. However, India is the only amongst the five economies to improve its rank since last year.
While India has scored low in terms of system performance (ranking 97 and 86, respectively), it ranks considerably higher when it comes to readiness (45 and 61, respectively).
India is amongst the countries with high pollution levels and has a relatively high CO2 intensity in its energy system as per WEF.
Report added that despite this, India has made significant strides to improve energy access in recent years, and currently scores well in the area of regulation and political commitment towards energy transition
Challenges for the world:
The WEF said energy systems have globally become less affordable and less environmentally sustainable than they were five years ago, though access to energy has improved with less than 1 billion now living without access to electricity.
The biggest challenge facing attempts to future proof global energy is the lack of readiness among the world’s largest emitters. The 10 countries that score the highest in terms of readiness account for a mere 2.6% of global annual emissions.
Across 115 economies, more people than ever before now have access to energy. However, this is offset by reduced affordability and almost no progress in making energy systems environmentally sustainable. There is need of an urgent action on the part of policy makers and business to safeguard energy development for future generations.
The continued use of coal for power generation in Asia, increasing commodity prices and slower-than-needed improvements in energy intensity have contributed to this year’s stagnation in performance.
The fossil fuels’ share of total primary energy supply at 81 % has been constant over the past three decades.
Also, the global CO2 emissions are expected to have increased by more than 2 per cent in 2018, the highest since 2014.
Consumption of coal increased in 2018, after declining for three consecutive years.
While the US has made progress in reducing the use of coal in power generation, it slipped in the rankings by four places reflecting concerns about the affordability of energy to households, and regulatory uncertainty on environmental sustainability.
Suggestion for India
There was a ground for optimism regarding India despite the current outdated energy system not being ready for the transition because an enabling environment is being built to support the future transition.