India ranks 67th on WEF's Energy Transition Index

Tags: Reports

On 28 June, the World Economic Forum (WEF) published a report titled 'Fostering Effective Energy Transition 2023' which ranked 120 countries on the basis of energy transition.

An Overview of the news:

India in ETI Report:

• In this ranking, WEF has placed India at 67th position (a jump of 20 places) globally in the Energy Transition Index (ETI). Because in the year 2021, India was at 87th position among 115 countries.
• According to WEF, India is the only major economy where the pace of energy transition is accelerating in all dimensions.
• Despite sustained economic growth, India has successfully reduced the energy intensity of its economy and the carbon intensity of its energy mix, achieved universal energy access and managed electricity affordability effectively.
• The ETI benchmarks countries based on the performance of their energy systems and their readiness to secure sustainable energy systems.
• In a report published in collaboration with Accenture, the WEF noted that the global energy transition has stagnated amid the global energy crisis and geopolitical instability, but India is among the countries that have made significant improvements in the energy transition.
• According to ETI the top five countries in the world are Sweden, Denmark, Norway, Finland and Switzerland respectively.

World Economic Forum (WEF):

• Establishment : 1971 in Geneva (Switzerland)
• Headquarters: Cologny, Switzerland
• Founder : Klaus Schwab
• Chairman : Borge Brende

Major reports published by WEF:

• Global Gender Gap Report
• Energy Transition Index (published jointly by Accenture and WEF).
• Global Competitiveness Report
• Global Risk Report
• Global Travel & Tourism Report
• Global Information Technology Report (The report is published by WEF in association with INSEAD and Cornell University).