Report is based on the Energy Transition Index (ETI) that evaluates 120 countries on their energy system performance and readiness for secure, sustainable, and inclusive energy systems.
- The energy transition (ET) refers to shift from fossil fuels to renewable energy sources to reduce CO2 emissions
Key Findings
- Investment Trends: Clean energy infrastructure investments reached $1.8 trillion in 2023, with nearly 90% of the growth since 2021 occurring in advanced economies and China.
- Top Performers: Sweden, Denmark, Finland, Switzerland and France are the top five performers.
- Six G20 countries are among the top 20 performers: France, Germany, Brazil, China, the UK, and the USA.
- India is ranked 63rd on the ETI.
- Net-Zero Emissions: Eight countries (Bhutan, Comoros, Gabon, Guyana, Madagascar, Niue, Panama, and Suriname) reached net-zero emissions in 2022.
- Digital Innovations: Generative AI can enable energy companies to save over $500 billion annually.
Challenges in ET
- Lack of incentives for private sector investment in clean electricity.
- Only 6% of G20 recovery funding is directed towards clean energy.
- Ongoing subsidies for fossil fuels.
- Some advanced economies and large energy companies are rolling back critical energy transition commitments.
Initiatives in Energy Transition
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