World Economic Forum released Global Energy Transition Index (GET Index)

India has moved up to 74th rank showing improvements in key parameters

• The World Economic Forum (WEF) has released Global Energy Transition Index (GET Index)
• India has moved up to 74th rank showing improvements in key parameters such as energy
  security, growth and environmental sustainability
• The index has been framed based on the current performance of the energy systems of the
  countries

Key points of GET Index at word wide

• Sweden has topped the Energy Transition Index (ETI) for the third consecutive year and is
  followed by Switzerland and Finland in the top three
• France (ranked 8th) and the UK (7th) are the only G20 countries in the top ten
• The “emerging centers of demand” such as India (74th) and China (78th) have made consistent
  efforts to improve the enabling environment
• It refers to political commitments, consumer engagement and investment, innovation and
  infrastructure, among others
• In China’s case, problems of air pollution have resulted in policies to control emissions, electrify
  vehicles, and develop the world’s largest capacity for solar photovoltaic (PV) and onshore wind
  power plants
• COVID-19 has forced companies across industries to adapt to operational disruption, changes in
  demand and new ways of working, and governments have introduced economic recovery packages
  to help mitigate these effects
• If implemented with long-term strategies in mind, they could also accelerate the transition to
  clean energy, by helping countries scale their efforts towards sustainable and inclusive energy
  systems
• The corona virus pandemic offers an opportunity to consider unorthodox intervention in the
  energy markets and global collaboration to support a recovery that accelerates the energy transitiononce the acute crisis subsides
• The index benchmarks 115 economies on the current performance of their energy systems
  across economic development and growth, environmental sustainability, and energy security and
  access indicators- and their readiness for transition to secure, sustainable, affordable, and inclusive
  energy system
• The results for 2020 show that 75 per cent of countries have improved their environmental
  sustainability

Key points of GET Index of India

• The report says that India has made significant improvements by expanding its energy program
• This has been achieved by making bulk procurement of LED bulbs and smart meters and also
  by launching program for labeling of appliances
• India is one of the few counties that has made consistent progress since 2015 according to the
  report
• The report also says that only 11 countries have made significant progress since 2015
• India gains have come from a government-mandated renewable energy expansion program, now
  extended to 275 GW by 2027
• India’s improvements have come across all three dimensions of the energy triangle – economic
  development and growth, energy access and security, and environmental sustainability
• It indicates a strong positive trajectory, driven by strong political commitment and an enabling
  policy environment

What is “World Economic Forum”?

• It is based in Cologny – Geneva, Switzerland, is an NGO, founded in 1971
  India and World
• The WEF’s mission is cited as “committed to improving the state of the world by engaging
  business, political, academic, and other leaders of society to shape global, regional, and industry
  agendas”
• It is a membership-based organization, and membership is made up of the world’s largest
  corporations
• The organization also convenes some six to eight regional meetings each year in locations across
  Africa, East Asia, Latin America, and India and holds two further annual meetings in China and theUnited Arab Emirates

Pic courtesy : affairscloud.com