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World Economic Forum released Global Energy Transition Index

World Economic Forum released Global Energy Transition Index

  • Recently, the World Economic Forum (WEF) has released the Global Energy Transition Index-2021 under the Fostering Effective Energy Transition Report.
  • India has been ranked 87 this year in the World Economic Forum’s Global Energy Transition Index.
  • A total of 115 countries were included in this index. In which about 92 countries have performed better in energy conservation this year,which is a positive step in the event of a global energy transition.
  • The World Economic Forum has prepared this year’s Global Energy Transition Index in collaboration with Accenture, an Irish multinational company.
  • This report mainly assesses the status of countries on the basis of the main three dimensions, such as energy security, environmental sustainability and economic development of countries.

Highlights of the report:

  • Like last year in this index, this time also Sweden has got the first place. This is followed by Norway in second and Denmark in third.
  • The top 10 countries in this index are from the northern and western parts of Europe. India’s neighboring country China ranks 68th in this index.

Report on India and China

  • India has been placed in the list of countries with high pollution levels in this index, as India is the leader in carbon dioxide (CO2) emissions compared to other countries.
  • According to this report, India is bringing energy changes through subsidy reforms. India has also achieved a lot of success in this endeavor; while China is focusing on renewable energy growth through investment and infrastructure.
  • It is to be noted that India and China spend one-third of the total global energy demand.

World Economic Forum:

  • The World Economic Forum is an international organization for public-private cooperation. The headquarter of the World Economic Forum is located in Geneva.
  • It was founded in 1971 by Professor Klaus Schwab working at the University of Geneva under the name of European Management.
  • The objective of the World Economic Forum is to provide a platform to the world’s leading professionals, politicians, academics, intellectuals and prominent people from other important fields.

Other reports released by the World Economic Forum:

  • Global Risks Report
  • Fostering Effective Energy Transition Report
  • Social Mobility Index
  • Global Gender Gap Report
  • Global Competitiveness Report

Source – The Hindu

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