Moving up two places to rank 76th on a global energy transition index, India has managed marking a place in the World Economic Forum’s report released today. This annual list, compiled by Geneva based forum has ranked 115 economies on how well they are able to balance energy security and access with environmental sustainability and affordability.
“India is amongst the countries with high pollution levels and has a relatively high CO2 intensity in its energy system. 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”, claimed the report.
Further suggesting the ground for optimism regarding India despite the current outdated energy system not being ready for the transition, it said that an enabling environment is being built to support the future transition in the nation.
While India has scored low in terms of system performance, it ranks considerably higher when it comes to readiness to adapt to future energy needs. India also is the second best in 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. China meanwhile has ranked even lower than India at 82nd position, though it ranks very high at seventh place in the world for regulation and political commitment.
Sweden remains on the top on this annual list and is followed by Switzerland and Norway in the top three. While the US has made progress in reducing the use of coal in power generation, according to the report it slipped in the rankings by four places reflecting concerns about the affordability of energy to households, and regulatory uncertainty on environmental sustainability.
COURTESY:- NEWS BHARATI