Energy Transition Index-2023

Recently, the World Economic Forum positioned India at 67 place among 120 countries in the ‘Energy Transition Index’ (ETI).

About the Energy Transition Index

  • Released by: The World Economic Forum (WEF) in collaboration with Accenture
  • The report titled: Fostering Effective Energy Transition 2023″
  • Month & Year: June, 2023
  • Objective: Through this effort, the WEF encourages the sharing of best practices and the use of its platform for effective public-private collaboration to facilitate the energy transition process around the world.
Top Positions Bottom Positions
1. Sweden 120. Yemen, Rep
2. Denmark 119. Congo, Den, Rep
3. Norway 118. Tanzania
India’s Position 67th

ETI in India’s Perspective

  • The index states that India is the only major economy with energy transition momentum accelerating across all dimensions.
  • In addition to India, Singapore is the only other significant economy addressing justice, sustainability, and energy security in a balanced manner, according to the WEF.
  • In 2021, India was at the 87th position among 115 countries.
In (COP26) to the UNFCCC held in Glasgow, United Kingdom, India presented the following five nectar elements (Panchamrit) of India’s climate action :

  1. Reach 500GW Non-fossil energy capacity by 2030.
  2. 50 per cent of its energy requirements from renewable energy by 2030.
  3. Reduction of total projected carbon emissions by one billion tonnes from now to 2030.
  4. Reduction of the carbon intensity of the economy by 45 per cent by 2030, over 2005 levels
  5. Achieving the target of net zero emissions by 2070.