The 2018 Energy Transition Index by Country was published Sweden first

A new report released by the World Economic Forum, "Promoting an Effective Energy Transition," presents the 2018 Energy Transition Index, based on benchmarks of 114 countries, including the current state of the energy system and its structural readiness to adapt to future energy needs
.

The 2018 Energy Transition Index by Country was published Sweden first

By current energy system performance, the report ranks countries on energy security and access, the environmental sustainability of the system, and the potential for inclusive economic growth and development, and assesses readiness to facilitate the low-carbon transition
.

"With this new fact-based framework, we can not only understand the performance of today's national energy systems, but also get the solutions
we need to succeed in the future.
" Roberto Bocca, Head of Fundamentals and Energy Industries at the World Economic Forum, said
.

This year's index mainly reflects the stagnation of global environmental sustainable development, which is reflected in a trend
of carbon intensity close to flattening.
Carbon intensity has improved only modestly over the past five years, about 1.
8% per year, compared to the Paris climate agreement's target of at least 3%.

In terms of affordability, more than half of the countries have actually seen an increase in household electricity prices since 2013
, despite the overall decline in fuel prices.

On a more positive note, recent global trends indicate that the energy system of more than 80 per cent of countries has improved
over the past five years.
However, the report also concludes that a new strategy is needed to help the billion people
who currently do not have access to electricity.

Energy Transition Index 2018

According to the Energy Transition Index, Scandinavian and Western European countries are at the top of the overall ranking, with Sweden, Norway and Switzerland in the top three
.
The UK, ranked 7th, and France, ranked 9th, are the only G7 economies
in the top 10.

Other large economies performed poorly
.
Germany ranks 16th and faces challenges from high energy prices and rising emissions, but ranks 11th
for readiness due to strong institutions and regulations.
Ranked 25th, the U.
S.
doesn't score highly for environmental sustainability, but a strong innovation ecosystem, sound institutional framework, and vibrant capital markets help improve the readiness ranking, ranking 22
.

Colombia, Brazil and Russia performed well in their energy systems due to their abundance of natural resources, ranking 32, 38 and 70, respectively, but ranked low
due to gaps in human capital and challenges in institutional and regulatory frameworks.

The report notes that despite the current low index rankings, countries that demonstrate above-average readiness are at risk of jumping to more advanced energy systems
.
These include South Korea (49), Jordan (65) and Kenya (71).

For example, increased investment in renewable energy and energy efficiency has led to a significant increase in energy
availability.

Thanks to recent EV mandates and political commitment to addressing environmental challenges, China has leapfrogged
up the ranking of 76.
Due to its low ranking in environmental sustainability, overall performance suffers
.

Ranked 78th, India improved its index ranking
by making progress in areas such as energy access and reducing energy subsidies.
India has taken a series of bold steps, particularly in renewable energy deployment and energy efficiency, and is classified as an "emerging country"
that is rapidly approaching the upper class.

Supported by McKinsey & Company's analysis, the report proposes seven steps for an effective energy transition and describes successful experiences and testing frameworks
that countries can draw upon.
A long-term roadmap with clear requirements, goals and milestones, as well as the enabling factors identified in this framework, will be critical
for countries to accelerate the energy transition.

"The fragmentation of the energy system is approaching an inflection point, and policymakers, businesses and society must be prepared to seize the opportunities
presented by the energy transition.
" Thomas Seitz, Senior Partner at McKinsey & Company, said, "Predictable but flexible national energy roadmaps are a key part of an effective energy transition, creating value
for business and society.
”

"There is an urgent need to accelerate the transition to more sustainable energy production and use, including reducing greenhouse gas emissions, increasing energy use and improving air quality
.
To do this, we need to leverage a broad portfolio of energy technologies and deepen collaboration between
government, industry and civil society stakeholders.
International Energy Agency Administrator Fatih Birol said
.

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