Global Energy Transition Index: India ranks 74th
On May 13, 2020, the World Economic Forum released Global Energy Transition Index (GET Index). India has moved up to 74th rank showing improvements in key parameters such as energy security, growth and environmental sustainability.
About the index
The World Economic Forum has ranked 115 countries based on GET Index in its report “WEF Fostering Effective Energy Transition 2020 report”. The index has been framed based on the current performance of the energy systems of the countries, environmental sustainability, energy security and also based on indicators such as readiness for transition to sustainable, secure, affordable and inclusive energy systems.
According to the report, 75% of the countries have improved their environmental sustainability.
Sweden has topped the ranking for the third consecutive year. It was followed by Switzerland and Finland. Only France (on the 8th position) and UK (on the 7th position) were the only G20 countries under top 10.
According to the ranking, India and China were the emerging centres of demand in the world.
The United States stood at 32nd rank, Canada at 28th, Brazil at 47th and Australia at 36th rank. For the first time, the US ranked outside top 25%.
The report says that India has made significant improvements by expanding its energy programme. This has been achieved by making bulk procurement of LED bulbs and smart meters and also by launching programmes for labelling of appliances.
Also, India is one of the few counties that has made consistent progress since 2015 according to the report. The report also says that only 11 countries have made significant progress since 2015.
Month: Current Affairs - May, 2020
Category: Reports & Indexes Current Affairs