In a recent report published in collaboration with Accenture, the World Economic Forum (WEF) has ranked India at the 67th place globally on its Energy Transition Index. This index evaluates 120 countries based on their progress in transitioning to sustainable and equitable energy systems. Sweden secured the top position on the list, followed by Denmark, Norway, Finland, and Switzerland.
The WEF highlighted that India stands out as the only major economy with accelerating momentum across all dimensions of the Energy Transition Index. Despite the global energy crisis and geopolitical volatilities, India has made significant improvements, demonstrating its commitment to sustainable energy practices.
Notable achievements for India include successfully reducing the energy intensity of its economy and the carbon intensity of its energy mix, while also achieving universal energy access and ensuring the affordability of electricity. These accomplishments have been driven by the country’s focus on achieving universal access to electricity, transitioning to cleaner cooking options, and increasing renewable energy deployment.
India’s resilience during the recent energy crisis can be attributed to its low reliance on natural gas in power generation and the effective utilization of existing generation capacities. However, the WEF emphasized that rising import dependence poses a risk for India amidst global energy market volatilities.
Despite these advancements, the report also highlights that India’s energy mix remains predominantly carbon-intensive, with a low share of clean energy in final demand. The WEF noted that continued progress will require strategies for early retirement or repurposing of existing thermal power plants, as the expansion of such facilities has considerably slowed down.
Looking ahead, the WEF report emphasizes two key challenges for India’s energy transition: sustaining strong economic growth and creating quality jobs for its growing working-age population. The report suggests that a skilled workforce, public-private collaboration in innovation, and increased investment in research and development of low-carbon technologies are essential to enable India’s energy transition.
The WEF also acknowledged Singapore as the only other major economy showing significant momentum in advancing sustainability, energy security, and equity in a balanced manner. Among the G20 countries, France secured the highest position at 7th place, followed closely by Germany (11th), the US (12th), and the UK (13th).
Out of the 120 countries evaluated, 113 have made progress in energy transition over the last decade. However, only 55 countries, including India, have improved their scores by more than 10 percentage points, indicating the need for sustained efforts in achieving a sustainable energy future.
With India’s commitment to driving its energy transition, the country is poised to make further strides towards a greener and more sustainable future, setting an example for other major economies around the world.
