Today is Tuesday, October 10, 2023.
A recent report by the World Economic Forum WEF in collaboration with Accenture.
If a few days ago the first global stocktake report released by United Nations Framework Convention on Climate Change (UNFCCC), without naming expecific countries, called for a "radical decarbonisation”, now the WEF with a slightly positive message, names individual countries that "are making unexpected gains in their energy transitions".
Key metric of the WEF is its Energy Transition Index (ETI), a benchmark for a country’s energy system performance and its readiness for a secure, sustainable, affordable and reliable energy future.
"Major economies are showing significant progress ... Over the past decade, the global ETI score improved by 10%".
"All countries ranked in the top 10 are from Western and Northern Europe, and account for 2% of energy-related CO2 emissions, 4% of total energy supply and 2% of the global population. Sweden leads the global rankings, followed by Denmark and Norway. Among the world’s 10 largest economies, only France features in the top 10 ... Although each country’s energy transition pathway is different, they all share common attributes, including:
(1) Reduced levels of energy subsidies;
(2) Enhanced energy security from a diverse energy and electricity mix;
(3) Increased share of clean energy in the fuel mix;
(4) Improved carbon intensity;
(5) A carbon pricing scheme;
and (6) A strong and supportive regulatory environment to drive the energy transition".
Both China and Brazil feature in the top 20, a result of their performance.
Strong institutional and regulatory frameworks, ability to attract capital and investment on a large scale, innovative business environment and high level of political commitment on energy transition are also mentioned as relevant attributes.
The report also indicates that global investment in low-carbon energy technology surged to $1.1 trillion, with the biggest share towards electrified transport and renewables, particularly solar power, that became the cheapest source of electricity globally ($0.048/kWh).
Click at the image below to read the report and here for the press release.
In the report, look both for Figure 2, to know more about the ETI Index, and for session "Country performance profiles". And follow-up what WEF says about your country.
