What is the Energy Transition Index?

About Energy Transition Index: 

• It is published by the World Economic Forum.
• It was developed with the ambitious aim to comprehensively monitor the global energy transition.
• The heart of the Index is an analytic framework that measures transition as a shift towards an energy system that supports sustainability, security and access, and towards institutions that enable this performance. 

Key points about Energy Transition Index 2024 (ETI-2024)

• European countries lead the World Economic Forum Energy Transition Index 2024 rankings; Sweden came top, followed by Denmark, Finland, Switzerland and France. 
• Emerging economies such as Brazil and China made notable progress, although 83% of countries moved backwards from last year in at least one of the three energy system performance dimensions – security, equity and sustainability. 
• India has been ranked 63rd in ETI -2024.
• The gap in energy transition performance between advanced and developing economies continues to narrow, although disparities in investments and regulation remain.
• While 107 of the 120 countries benchmarked in the report demonstrated progress on their energy transition journeys in the past decade, the overall pace of the transition has slowed and balancing its different facets remains a key challenge.
• The WEF also lauded the strides made by India in its clean energy infrastructure, with renewable energy and biomass comprising 42 per cent of its power generation capacity, making it the fourth-largest renewables market globally.

Q1: What is the World Economic Forum?

The World Economic Forum is the international non-governmental organization for Public-Private Cooperation. It was founded in January 1971 by German engineer and economist Klaus Schwab.

Source: India ranks 63rd on Energy Transition Index, Sweden on top: WEF