Energy Transition Index 2023

Why in news?

• The World Economic Forum (WEF) has released the Energy Transition Index 2023.

About Energy Transition Index:

• Energy Transition Index is an annual report by the World Economic Forum (WEF).
• It prepares the report in collaboration with Accenture.
• Purpose: The ranking aims to enable policy-makers and businesses to plan for a successful energy transition.
• ETI checks the readiness of countries for transition to secure, sustainable, affordable, and inclusive energy systems.

Parameters:

• The index ranks 115 countries on the basis following three dimensions:
  • Economic development and growth,
  • Environmental sustainability and
  • Lastly, Energy security and access;

Key takeaways from 2023 Index:

• Rankings:
  • Sweden has topped the list and was followed by Denmark, Norway, Finland and Switzerland in the top five.
  • France (7) was the only G20 Country in the top 10, followed closely by Germany (11), the U.S. (12), and the U.K. (13).
  • India has been ranked 67th out of 120 countries.
• Observations made on India:
  • India is the only major economy with energy transition momentum accelerating across all dimensions.
  • Despite continued economic growth, India has successfully reduced the energy intensity of its economy and the carbon intensity of its energy mix, while achieving universal energy access and effectively managing affordability of electricity.

PRACTICE QUESTION:

Energy Transition index is published by:

(a) International Energy association

(b) World Economic Forum

(c) International Solar Association

(d) UN Environment Program

Answer