World Economic Forum: India was placed 67th internationally on the World Economic Forum’s Energy transformation Index, indicating that the country’s energy transformation momentum is accelerating in all directions.
Read Also: Chandrayaan – 3
Introduction
India is the only large country to see an acceleration in all parameters, ranking 67th in the World Economic Forum’s (WEF) energy transition index. The study, which was created in partnership with Accenture, emphasises India’s notable advancements in ensuring a safe and sustainable energy transition, lowering energy and carbon intensity, boosting the deployment of renewable energy sources, and delivering universal access to electricity.
Accelerated Energy Transition Across All Dimensions
India’s energy transformation has won praise from throughout the world for its quick advancement in all areas. Despite ongoing economic expansion, the study highlights India’s dedication to creating a safe and sustainable energy future. Universal access to electricity is one of India’s noteworthy accomplishments. India has increased the quality of life for its population while lowering the negative effects of energy usage on the environment by substituting solid fuels with cleaner cooking choices.
Reduction in Energy Intensity and Carbon Intensity
India’s energy transition journey highlights significant strides in reducing energy intensity and carbon intensity. Through the implementation of energy-efficient measures and the adoption of cleaner technologies, India has successfully decoupled its economic growth from energy consumption and reduced its carbon footprint.
Read Also: What is a Flash Flood?
Sweden topped the Index
Denmark, Norway, Finland, and Switzerland are not far behind Sweden in terms of market share. The prolonged global energy crisis and the unpredictability of geopolitical conditions have, according to the World Economic Forum, put an end to the global transition to sustainable energy. But among the nations that have achieved notable strides in this area, India stands out.
Achievements in Energy Sector
Despite its continued economic expansion, India has nonetheless managed to reach important milestones in its energy industry. India has successfully reduced its economy’s energy intensity, indicating improved energy resource utilization. The country has also made notable progress in lowering the carbon intensity of its energy mix, transitioning to cleaner and greener energy sources. Moreover, India has achieved universal energy access, ensuring reliable energy sources for all residents. In addition, the nation has successfully solved the affordability problem with energy, enabling a greater populace to use it.
Important takeaways for competitive examinations
- President of World Economic Forum is Borge Brende
- Headquarters of World Economic Forum is in Cologny, Switzerland
- Stockholm is the capital of Sweden
Read Also: Meta Launches $250K Mixed Reality Fund for 5 Indian Startups
