GS Paper - III

The global energy transition has been slowing down, much slower than is necessary in the past three years, with a 6% increase in global average ETI scores since 2015, owing to the increasing global uncertainty. However, the energy systems around the world are beginning to change, driven by the rise of clean energy investments, improved regulatory frameworks, growing urgency to tackle climate crises, and accelerating the transition to a low-carbon economy.

More about the Index

• In 2024, the World Economic Forum’s Energy Transition Index (ETI) recorded the highest global average scores in its history, with a modest 0.2% improvement in system performance and a notable 2% growth in transition readiness.
• Only 28% of countries showed strong improvement in the dimension with the lowest score, indicating progress towards a more balanced system; in addition, only 17% of countries balanced the progress in dimensions of the energy triangle.

Top 10 Countries Fostering Effective Energy Transition 2024

• The Energy Transition Index (ETI) 2024, released by the World Economic Forum earlier this year, ranked 120 countries based on their advancements towards a sustainable, affordable, and secure energy future.
• Advanced economies from Northern Europe, led by Sweden, Denmark, and Finland, have made significant progress in transitioning to sustainable energy systems, with high scores in renewable energy deployment, energy efficiency, and environmental sustainability.

Where does India rank?

• India has ranked 63rd out of 120 countries in the 2024 Global Energy Transition Index, which is an improvement from its previous position of 67th in 2023.
• India has been advancing in its energy equity, security, and sustainability, particularly in the renewable energy sector, where renewable sources and biomass account for 42% of its power generation capacity.
• India is leading the way towards creating outcomes that may be replicated abroad while making strides in energy fairness, security, and sustainability.
• WEF additionally highlighted and praised India’s advancements in clean energy infrastructure, noting that renewable energy and biomass account for 42% of its power production capacity, making it the world’s fourth-largest renewables market.