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1、Fostering Effective Energy TransitionI N S I G H T R E P O R TJ U N E 2 0 2 4In collaboration with AccentureFostering Effective Energy Transition2Images:Getty ImagesDisclaimer This document is published by the World Economic Forum as a contribution to a project,insight area or interaction.The findin

2、gs,interpretations and conclusions expressed herein are a result of a collaborative process facilitated and endorsed by the World Economic Forum but whose results do not necessarily represent the views of the World Economic Forum,nor the entirety of its Members,Partners or other stakeholders.2024 Wo

3、rld Economic Forum.All rights reserved.No part of this publication may be reproduced or transmitted in any form or by any means,including photocopying and recording,or by any information storage and retrieval system.ContentsForeword 3Executive summary 4Introduction 51 Framework 82 Overall results 11

4、2.1 Transition scores 132.2 Transition momentum 162.3 A lookback on COVID-19 impacts 183 Sub-index and dimension trends 213.1 System performance 223.2 Transition readiness 344 Tailored transition pathways 374.1 Regional insights 384.2 Income-level insights 404.3 Local energy resources insights 405 L

5、ooking ahead:top 10 actions 42Appendices 44A1 Methodology and indicators 44A2 Country group performance profiles 45Contributors 53Endnotes 54Fostering Effective Energy Transition3ForewordThe speed and trajectory of the global energy transition are now more important than ever.It is critical for both

6、 policy-makers and businesses to balance the three energy system priorities of equity,security and sustainability.It is also clear that there is no single universal answer for all countries.The Fostering Effective Energy Transition report,now in its 14th edition,benchmarks energy system performance

7、and readiness for the transition through the Energy Transition Index(ETI)and provides insights across nations.In the past decade,the sustainability dimension of energy system performance has improved with a shift to renewables and the integration of electric vehicles into mainstream use.However,prog

8、ress has been uneven globally.Aside from increased adoption of wind and solar,it has not kept pace with the trajectory needed to reach net zero by 2050,particularly regarding energy efficiency gains,system electrification and adoption of low-carbon energy sources and fuels.In a significant step forw

9、ard,recent decisions at the 28th Conference ofthe Parties(COP28)aim to double energy efficiency and triple renewable energy capacity by 2030,and transition away from fossil fuels in a just and equitable manner.Equity-focused policies and decisions are gaining prominence.However,investments in develo

10、ping nations remain insufficient,and challenges persist within and across countries,especially in energy affordability and access.Meanwhile,energy security risks need to be managed effectively amid rising geopolitical tensions.ETI data shows that while countries have managed to address security shoc

11、ks in recent years,this comes at the expense of equity and sustainability.Countries are ramping up efforts to enhance transition readiness,including human capital development,where clean jobs represent more than half of all energy-related jobs.Clean energy infrastructure investments have also been i

12、ncreasing,reaching$1.8 trillion in 2023,but almost 90%of the growth since 2021 has been in advanced economies and China,1 highlighting wide gaps in transition momentum.Digital innovations,including generative artificial intelligence(AI),present significant opportunities for energy companies,enabling

13、 them to generate over$500 billion in savings annually.2 This can enhance equity and security by enabling additional capital investment or reducing energy supply costs.Nevertheless,as these technologies advance,the electricity needed for their computational demands will increase and must be managed

14、carefully through the adoption of more efficient AI models and clean energy sources.While ETI scores have reached record highs and shown notable improvements across various dimensions,the pace of progress has slowed,partly due to growing uncertainties in the global landscape.The ETI provides decisio

15、n-makers with a comprehensive assessment of global energy systems and trends over time.This years edition maintains consistency with last years methodology,enabling stakeholders to make comparisons and track developments.The 2024 ETI also introduces“tailored pathways,”providing new perspectives on c

16、ountry pathways and global collaboration.These pathways allow decision-makers to consider country-specific dimensions,such as income level,local energy resources and region,to maximize impact and advance theenergy transition.Muqsit Ashraf Group Chief Executive,Accenture StrategyRoberto Bocca Head,Ce

17、ntre for Energy and Materials;Member of the Executive Committee,World Economic ForumFostering Effective Energy TransitionJune 2024Fostering Effective Energy Transition4Executive summaryGrowing uncertainties are impeding energytransition momentum despite record Energy Transition Index scores.Global a

18、verage Energy Transition Index(ETI)scores reached their highest levels,with 107 out of 120 countries making progress over the past decade.However,the global landscape is marked by economic volatility,heightened geopolitical tensions,and technological shifts.This uncertainty is reflected in the ETI,w

19、here the rate of improvement over the past three years has decreased.Energy security continues to be tested,energy equity has gone into reverse and sustainability shows a gradual improvement over the past three years.Geopolitical tensions continue to test energy security,yet there are positive signs

20、 that countries are successfully mitigating most risks.Equity has faced a setback in the past three years driven by increased energy prices and fossil fuel subsidies.Sustainability has shown progress,mainly due to improved energy efficiency and increased share of clean energy,despite energy-related

21、emissions growing by 1.1%in 2023.3 Transition readiness has progressed significantly,driven by regulations and political commitment,education and human capital,and infrastructure.While innovation growth has slowed,countries like China and India are leading in developing new energy solutions and tech

22、nologies.Advanced economies,along with China and Brazil continue to be top performers,together with several developing nations that are forging pathways for progress.Sweden,Denmark,Finland and Switzerland lead the rankings,with France entering the top five performers due to its effective energy effi

23、ciency policies,resulting in a 12%reduction in energy intensity in 2022 compared to 2021.4 Six G20 countries also feature among the top 20 performers on this years ETI;France,Germany,Brazil,China,the United Kingdom and the United States.In 2023,China commissioned as much solar photovoltaic(PV)as the

24、 entire world in 2022,while its wind additions also grew by 66%year-on-year.5 Brazils long-term plan for hydropower and biofuels,along with institution-building initiatives,have been key in attracting investments.Estonia,Ethiopia and Lebanon have seen the fastest improvements in the past five years,

25、prioritizing off-grid renewable energy to enhance access and sustainability.International support that is tailored to country-specific requirements,must be reinforced to direct sufficient financing to emerging and developing economies.The widening gap in transition financing between advanced and dev

26、eloping economies necessitates increased international support and new approaches to unlock investments.Tailoring support based on factors like region,income level and local energy resources can underpin customized energy transition pathways.Sub-Saharan Africa shows the strongest growth in ETI score

27、s,driven by improvement in energy access and affordability.Prioritizing these areas with international support can help sustain progress.Moreover,countries with abundant local energy resources are top performers in equity and security while being the worst performers in sustainability,emphasizing th

28、e need to balance the transition.Decision-makers across the globe must act decisively and collaboratively to accelerate the transition towards an equitable,secure and sustainable energy future.In a dynamic global landscape,most countries are progressing in the energy transition,with the centre of gr

29、avity moving towards developing nations.Fostering Effective Energy Transition5IntroductionRecent years have witnessed an increase in global uncertainties,driven by economic,political and technological shifts,adding complexity to the environment in which countries operate and their energy transition

30、trajectory(Figure 1).Geopolitical tensions pose risks to energy security and hinder international cooperation.Ongoing conflicts in the Middle East risk exacerbating volatility in oil markets,potentially resulting in an oil price spike.Despite a moderation in energy prices,regional disparities persis

31、t,constraining economic growth,imposing financial burdens on households and businesses,and hindering efforts to enhance electricity access.6 This situation could have been much worse if not for the mild weather conditions globally.However,there have been instances of accelerated change,notably in Eu

32、rope,where there has been a rapid reduction in dependence on Russian natural gas and significant improvements in energy efficiency.Global investments in efficiency increased by 45%since 2020,with countries representing three-quarters of global energy demand strengthening energy efficiency policies o

33、r implementing new ones in the past year.7The disruptions caused by the COVID-19 pandemic and the Russia-Ukraine war led to a global energy crisis and a surge in inflation and interest rates during 2022 and 2023.This created a cost-of-living crisis in many countries,raising concerns across industrie

34、s and economies,especially those in developing countries with dollar-denominated debt and imports.Headline inflation has since slowed down due to tighter monetary policy in G7 nations,with the International Monetary Fund(IMF)projecting a rate of 5.8%for 2024(down from 6.9%and 8.7%in 2023 and 2022,re

35、spectively).8 However,persistently high interest rates and capital costs remain significant obstacles in the energy transition,particularly for emerging and developing economies.This directly impacts the ability of firms and countries to finance the upfront investments to meet energy demand and deca

36、rbonize the energy system.Despite lower operational costs,capital-intensive clean energy solutions remain disproportionately affected due to high upfront capital investment requirements.9 In 2023,clean energy sources faced challenges,including uncertainties in subsidies and supply chains,coupled wit

37、h high interest rates and significant cost increases.These factors reduced returns for developers,deterring much-needed investments in projects.The cancellation of major offshore wind projects in the United States(US)resulted in a temporary slowdown in the wind industry.10 In parallel,global coal de

38、mand saw a 1.4%increase in 2023.However,despite these setbacks,global additions to renewable energy capacity surged by 50%compared to 2022.11 This uptick was partly due to supportive policies such as the revision of the European Commissions Renewable Energy Directive which introduced“fast-tracking”o

39、f permitting procedures to accelerate the deployment of renewables and grids.Falling prices for renewables and rising electricity prices from fossil fuels further boosted the financial attractiveness of renewable energy.12Trade patterns in the energy sector have shifted significantly as governments

40、focus on enhancing supply chain resilience and strengthening energy security.This shift has coincided with accelerated momentum towards cleaner energy sources,including the rapid expansion of renewable power capacity and increased adoption of technologies such as electric vehicles(EVs)and heat pumps

41、,driven partly by supportive government policies.13 Despite these positive trends,growing trade protectionism and costs create headwinds,especially for developing nations.United Nations Conference on Trade and Development(UNCTAD)data indicates a$1 trillion contraction in global trade in 2023,largely

42、 due to reduced demand in developed countries and decreased trade within East Asia and Latin America.14 Geopolitical tensions have continued to impact bilateral trade flows,evidenced by shifts such as the European Union(EU)reducing its trade dependence on Russia and decreasing trade interdependence

43、between China and the US.However,certain industries,such as motor vehicles,saw growth in trade value,driven bygrowing demand for EVs.15 This,coupled with an improved global economic outlook,could bolster trade resilience in the coming year.Uncertainties remain regarding geopolitical tensions and pot

44、ential future disruptions to global supply chains,16 underscoring the need for adaptive strategies.Innovation and technology ecosystems experienced significant volatility.A Crunchbase article states that“total global start-up investment in 2023 plummeted to$285 billion,marking a 38%decline year over

45、 year from the$462 billion invested in 2022”.17 These challenges prompted cost-cutting measures,Growing uncertainties complicate the energy transition trajectory,underscoring the need for adaptive and decisive action.$1.8trillion invested in the clean energy transition in 2023.Fostering Effective En

46、ergy Transition6a focus on profitability and a rise in tech layoffs.Investors responded by exercising greater caution,deploying capital more selectively and raising standards for investment at each stage.18 Despite overall downturns,BloombergNEF found that“global investments in the energy transition

47、 hit a record$1.8 trillion in 2023,climbing 17%from a year earlier”.Most of this investment was in electrified transport,with China as the largest market,accounting for over one-third of the total investment,followed by Europe and the US.19 The artificial intelligence(AI)sector was one of the few th

48、at saw growth,with global funding to start-ups reaching nearly$50 billion.20 While AI and generative AI integration require substantial adaptation and investment,it also offers opportunities and value for industry(estimated at$0.3-0.5 trillion annually)21 and the energy transition.Yet,increased upta

49、ke of generative AI may lead to a rapid surge in demand and power consumption from data centres,creating competition for available electric power and requiring additional capacity increases,which must be balanced by gaps in innovation and opportunity.While global clean energy investment has surged b

50、y 40%since 2020,this recent growth has primarily been concentrated in advanced economies and China.In contrast,other emerging and developing economies received less than 15%of the total investment despite accounting for 65%of the worlds population and generating about a third of global gross domesti

51、c product(GDP).22 This disparity highlights a concerning trend in financing the energy transition in emerging and developing economies.To align with efforts to limit global warming to 1.5C,“clean energy investment in these economies outside China must increase more than sixfold,from$270 billion curr

52、ently to$1.6 trillion by the early 2030s”.23 This investment should prioritize utility-scale solar and wind projects,enhancing electricity networks,and spending on energy-efficient building designs and appliances.24Key energy targets were announced at 28th Conference of the Parties(COP28).These incl

53、ude the“Global Renewables and Energy Efficiency Pledge”,which calls for tripling the rate of renewables capacity and doubling the rate of energy efficiency by 2030.Another goal is to transition away from fossil fuels in energy systems in a just,orderly and equitable manner,to achieve net zero by 205

54、0 and limit global warming to 1.5oC.25 These targets provide additional clarity on the direction of the energy transition journey,despite uncertain implementation pathways.Achieving these targets requires reforms and investments in the energy system.While governments have initiated targeted measures

55、,more decisive action is needed.The importance of tailored policy approaches aligned with local priorities and challenges is increasingly evident.These pathways can accelerate the transition by directing resources to areas with the greatest impact,thereby facilitating a smoother and more effective t

56、ransition process.In a landscape marked by complexities and uncertainties,the path forward remains clear:now is the time for all stakeholders across the value chain,spanning supply,demand and distribution,and including both public and private sectors,to take decisive action.This means ramping up eff

57、orts to transform their energy systems by implementing innovative solutions,mobilizing investment and driving bold policy reforms.By harnessing the momentum of the energy transition,stakeholders can chart the course towards an equitable,secure and sustainable energy future.Fostering Effective Energy

58、 Transition7Volatile period in the energy transition,2020-2023FIGURE 12022202320212020Key shocksEffectsMilestonesMissed opportunitiesEight countries reached net-zero emissionsEU regulation on the Carbon Border Adjustment Mechanism(CBAM)adoptedSolar attracted more investment than oil production for t

59、he first time($382 billion)and renewable energy marked a record year with 510 GW of added capacity globallyThe Inflaction Reduction Act created over 211,350 clean energy jobs across the US$1.8 trillion invested in clean energy,but remains concentrated in advanced economies and China,falling signific

60、antly short of the levels requiredRollback of critical energy transition commitments in some advanced economies and large energy companiesAnnouncement of key energy targets at COP28 by 2030:US Inflation Reduction Act EU Net-Zero Industry Act EU Fit for 55 package Japan Green Transformation programme

61、 First Movers CoalitionGlobal investment in low-carbon energy technology surged to$1.1 trillion(biggest share towards renewables and electrified transport)Temporary behavioural changes instead of structural reforms to keep emissions low Drop in global energy-related CO2 emissions by 5.8%Rebound in g

62、lobal energy-related CO2 emissions by 6%(36.3 billion tonnes)Fossil fuel subsidies at all-time high($1 trillion)Energy poverty and loss of industrial competitivenessSupply chain disruptions and supply shortagesEnergy security vulnerabilities and supply chain disruptionsGlobal energy investment plumm

63、eted by$400 billionGovernment support for fossil fuels in 51 countries doubled to$697 billionAverage global temperature 1.1 C above pre-industrial levelsPresentation of EU Climate Target PlanThe world committed a record$501.3 billion to decarbonizationSolar power became the cheapest source of electr

64、icity globally($0.048/kWh)Lack of incentives to the private sector to invest in clean electricityOnly 6%of the G20s recovery funding channelled towards clean energyExtreme weather eventsRussia-Ukraine warIsrael-Gaza warIncreased volatility in commodities markests-Brent crude oil and European natural

65、 gas prices up by 9%and 34%at peakInflationLaunch of Just Energy Transition Partnerships(JETPs)and theFirst Movers CoalitionRecord 295GW of new renewable power capacity addedAnnounced stimulusof$17.2trillionwill have anet negative environmental impact in 15of theG20 countriesOngoing subsidizing of c

66、oal,oil and natural gas and lack of structural reforms and bold actions to phase out fossil fuels in power generation and expand energy efficiency and renewable powerCOVID-19Structural changes to global crude oil markets and pricing systemDrop in energy demand by 4%worldwideDrop in energy commodity

67、prices by 40%Global economy shrank by5.2%Rebound in energy demand and consumption 5%worldwideTightening of energy markets pushed coal,oil and gas prices up(80%)Major outages affecting 350 million people worldwideSurge in crude oil prices to$100/barrel in mid-2022 before falling backPrices for spot p

68、urchases of natural gas exceed equivalent of$250/barrel of oilIncrease in number of people without access to electricity(770 million)after years of decreaseElectricity costs up by 30%Global energy crisisGlobal debt hit a record$307 trillionWidening investment deficit in developing countries($4 trill

69、ion per year)Venture capital investment declines to$285 billion(38%decline)Cost-cutting measures,focus on profitablity and rise in tech layoffs Triple renewable energy capacity Double the rate of energy efficiency Transition away from fossil fuelsSource:World Economic Forum.Fostering Effective Energ

70、y Transition8Framework1The ETI 2024 framework offers a comprehensive assessment of countries energy systems with a consistent methodology,allowing decision-makers to compare and track progress.System performanceTransition readinessEducation andhuman capitalFinance andinvestmentInfrastructureInnovati

71、onSustainableEquitableSecureRegulations and political commitmentCore enablersFostering Effective Energy Transition9Energy Transition Index frameworkFIGURE 2Source:World Economic Forum.Decision-makers are confronted with two critical questions in the energy transition:what is needed to accelerate imp

72、rovements in countries energy systems,and how can the right conditions be established to capitalize on opportunities arising from the transition?Addressing these questions necessitates a transparent fact base to help decision-makers understand and navigate the complexities inherent in the energy tra

73、nsition.The Energy Transition Index(ETI),which is an evolution of 14 years of country-level energy system benchmarking,provides a data-driven framework to foster understanding of the performance and readiness of global energy systems for the transition.The ETI covers 120 countries in terms of their

74、current energy system performance on equity,sustainability,and security and readiness of the enabling environment on policies and regulatory framework,infrastructure,innovation,education and human capital,and finance and investment(Figure 2).A countys final ETI score is a composite of its scores on

75、the two sub-indices of system performance and transition readiness,weighted at 60%and 40%,respectively.System performance is equally weighted across equity,security and sustainability.Transition readiness is split into two groups:core enablers and enabling factors.Core enablers include regulations a

76、nd political commitment,and finance and investment.Enabling factors include innovation,infrastructure,and education and human capital.Fostering Effective Energy Transition10The assessment of a countrys energy system performance revolves around three imperatives:Equity:Ensuring fair distribution,acce

77、ssibility and affordability of energy for all,along with shared efforts and benefits from sustainability,to foster equitable economic growth and an improved standard of living.Security:Ensuring supply security through diversification across three levers in the energy mix,energy trade partners and so

78、urces of electricity generation.Resilience,both in gas supplies and the power system,is also instrumental for energy security,in addition to the reliability of the grid,especially as the number and range of power generation and management assets increase as a result of decentralization.Sustainabilit

79、y:Incorporating demand-and supply-side metrics to reduce carbon dioxide(CO2)and methane intensity in energy supply,enhancing energy efficiency,promoting responsible consumption through lower energy and emissions footprint per capita,and increasing the share of clean energy in final demand.A countrys

80、 progress in energy transition is determined by its transition readiness i.e.the extent to which a robust enabling environment can be created.The core components are characterized by a strong policy and regulatory framework and the ability to attract and deploy capital on a large scale.An investment

81、 climate characterized by a low cost of capital,domestic market liquidity and capital availability,and attractiveness to foreign direct investment is vital for financing the energy transition.Key factors like a skilled workforce,innovation and robust infrastructure are also integral to this framewor

82、k.Countries are scored across 46 indicators(Appendix A1)covering the most important aspects across these dimensions of the energy transition.The ETI adopts a minimum-maximum method to normalize indicator scores on a scale from 0 to 100,where a score of 100 signifies the highest global performance on

83、 each indicator.Additionally,external factors such as commodity market fluctuations,geopolitics,international climate change action and financial market conditions may impact certain dimensions of a countrys score.Therefore,it is important to interpret country rankings within the context of each cou

84、ntrys unique circumstances rather than viewing them as a definitive measure of energy transition progress.Fostering Effective Energy Transition11Overall results2Most countries are making progress in the energy transition,with Northern European nations leading,and China and Brazil showing strong impr

85、ovement.Key highlights14523Global average ETI scores increased by 6%since 2015 but showed slower growth in the past three years.Only 28%of countries showed strong improvement in the dimension with the lowest score,signalling progress towards a more balanced system.The top 10 countries account for on

86、ly 1%of energy-related CO2 emissions,3%of total energy supply,3%of energy demand and 2%of the global population.Overall,53 countries have made steady progress in the past decade.Only 17%of countries in 2024 balanced the progress in dimensions of the energy triangle.*Balanced is defined as when all t

87、hree sub-indices scores equitable,secure and sustainable are making positive progress simultaneously.Emerging and developing EuropeMiddle East,North Africa and PakistanSub-Saharan AfricaLatin America and the CaribbeanCommonwealth of Independent StatesAdvanced economiesEmerging and developing AsiaETI

88、 score201520242024 global average(56.5)ETI 2024 ranking tableTABLE 1Rank CountryETI score (20152024)2024 ETI scoreSP1 (24)TR2(24)1Sweden78.479.476.82Denmark75.272.080.13Finland74.570.780.14Switzerland73.476.269.15France71.174.765.66Norway69.975.262.07Iceland68.071.862.28Austria67.968.567.09Estonia67

89、.873.759.010Netherlands66.762.772.711Germany66.565.068.712Brazil65.769.959.413United Kingdom65.666.364.614Portugal65.467.062.915Latvia65.270.158.016Spain64.364.763.717China64.166.660.318Luxembourg64.164.164.119United States64.067.359.020Chile63.967.958.021Israel63.870.454.022Australia63.763.264.423K

90、orea,Rep.63.562.465.224Lithuania63.264.760.925New Zealand62.868.354.526Japan62.463.161.427Canada62.465.557.828Hungary62.168.552.429Slovenia61.968.252.530Costa Rica61.372.145.031Poland61.366.054.232Vietnam61.065.654.233Uruguay60.869.048.534Belgium60.861.659.635Colombia60.765.753.336Bulgaria60.666.951

91、.237Greece60.558.963.138Azerbaijan60.368.847.639Croatia60.166.450.740Malaysia60.169.845.641Italy59.762.755.242Paraguay59.670.143.943Albania59.465.051.044Czech Republic 59.267.347.245Ireland58.760.456.246El Salvador58.470.640.047Peru58.371.039.348Romania58.369.042.249Slovak Republic57.564.646.950Qata

92、r57.360.153.151Panama57.166.443.252United Arab Emirates57.062.448.853Mauritius56.867.241.254Indonesia56.769.936.955Cyprus56.661.349.656Georgia56.363.745.157Mexico56.368.737.658Saudi Arabia55.962.845.459Turkey55.862.745.560Thailand55.863.244.6Rank CountryETI score (20152024)2024 ETI scoreSP1 (24)TR2(

93、24)61Malta55.664.941.862Oman55.558.950.363India55.363.642.864Singapore55.054.156.565Morocco54.960.546.566Bolivia54.868.134.767Montenegro54.659.946.668Namibia54.562.043.369Sri Lanka54.264.439.070Kenya53.663.838.471Tajikistan53.665.236.172Lao PDR53.554.052.973Jordan53.557.747.174Ecuador53.267.531.875E

94、gypt,Arab Rep.53.064.336.076Ukraine52.962.638.377Cambodia52.961.639.978Serbia52.961.140.579Armenia52.760.940.580Kyrgyz Republic52.761.739.381Macedonia,FYR52.659.542.382Argentina52.664.934.383Gabon52.565.133.584South Africa52.458.044.085Lebanon52.056.944.686Angola52.067.628.787Ethiopia51.759.539.988B

95、osnia and Herzegovina51.555.345.889Tunisia51.357.142.690Cote dIvoire51.259.239.191Algeria50.965.129.792Ghana50.962.134.193Zambia50.955.643.794Guatemala50.863.731.495Venezuela50.467.624.796Brunei Darussalam50.358.438.297Dominican Republic50.156.840.298Kazakhstan50.157.339.399Trinidad and Tobago49.757

96、.238.6100Nepal49.657.837.3101Cameroon49.261.830.2102Iran,Islamic Rep.49.059.433.3103Bahrain48.855.438.8104Kuwait48.654.140.3105Philippines48.459.132.4106Honduras48.359.331.9107Republic of Moldova48.155.337.2108Nigeria46.959.428.2109Bangladesh46.860.825.6110Jamaica46.650.341.1111Senegal46.653.336.511

97、2Zimbabwe46.350.739.7113Pakistan46.255.232.5114Nicaragua46.057.728.6115Botswana45.654.332.7116Mongolia45.455.330.5117Mozambique45.357.027.8118Tanzania44.349.736.1119Yemen,Rep.43.855.126.8120Congo,Dem.Rep.42.053.724.41 System performance 2024;2 Transition readiness 2024 Note:The average score for 202

98、4 is 56.5.Source:World Economic Forum.Fostering Effective Energy Transition12405060708030405060702015201620172018201920202021202220232024ETI overallSystem performanceTransition readiness010203040506070Fostering Effective Energy Transition13Global average Energy Transition Index and sub-index scores,

99、2015-2024FIGURE 3Source:World Economic Forum.This year saw the highest global average scores in the history of the ETI,with modest improvements in system performance of about 0.2%and strong progress in transition readiness,with a growth of 2%.The top 10 ranked countries in the ETI are predominantly

100、advanced economies,mainly from Northern Europe.They collectively contribute only 1%of energy-related CO2 emissions,3%of total energy supply and represent 2%of the global population.Sweden leads the rankings,followed by Denmark and Finland.Norway,however,has seen a drop in its ETI rank for the first

101、time in many years,due to increasing electricity prices and decline in renewable capacity buildout.Notably,six G20 economies feature in the ETI top 20,including France,Germany,Brazil,China,theUK and the US.Over the past year,infrastructure and regulatory commitment have experienced the most signific

102、ant growth,increasing by approximately 4%,while innovation,and finance and investments have declined by 1%.Over the past decade,the list of top performers in the ETI has remained relatively unchanged;although countries such as China,Brazil and Chile have entered the top 20 performers owing to their

103、energy transition efforts over several years.Despite each country adopting a unique energy transition pathway,they share common characteristics,including:Enhanced energy security through diverse energy and electricity mixes,as well as a mix of import partners Improved energy and carbon intensity Inc

104、reased share of clean energy in the fuel mix A carbon pricing mechanism Strong and supportive regulatory environments to drive the energy transitionFrom 2015 to 2024,the global average scores for the ETI have consistently increased,driven by improvements in both system performance and transition rea

105、diness(Figure 3).2.1 Transition scoresFostering Effective Energy Transition14Major growing centres of demand,such as China,Brazil and India,have improved their ETI scores.Out of 120 countries,107 have shown progress over the past decade,with 30 countries seeing their scores increase by more than 10%

106、.Notably,China and Brazil have progressed in recent years,primarily due to a ramp-up in renewable energy capacity additions and an overall increase in the share of clean energy.Both countries already rely on hydropower for a significant share of energy consumption and have committed to solar and win

107、d capacity ramp-up.Different measures have come together in these countries over the years to create an enabling environment for the energy transition.Brazils long-term commitment to hydropower and biofuels,27 combined with recent strides in solar energy,has set the country on the path to becoming a

108、 leader.Its focus on planning and policy instruments,as well as strengthening institutions,has built the right ecosystem for energy transition momentum.Meanwhile,India has made strides in its clean energy infrastructure,with renewable energy and biomass comprising 42%of its power generation capacity

109、,28 making it the fourth-largest renewables market globally.With annual investments nearing$10 billion,India is driving the adoption of electric vehicles(EVs)and the production of green hydrogen.29 However,the significant dependence on coal in both China and India continues to be a major factor in t

110、heir emission intensity.30Last year,17%of countries,including notable examples like France,China,Poland,Belgium and India,showcased improvement across equity,security and sustainability,highlighting the difficulty in establishing a balanced transition.In 2024,a notable 28%of nations,including Kuwait

111、,Nigeria,Bangladesh,Mozambique and Tanzania,are actively transitioning towards a more balanced energy system.This evolution is characterized by significant advancements in the lowest-scoring sub-index among equity,security and sustainability.Such progress indicates a strategic shift towards a more e

112、quitable,secure and sustainable energy landscape in these countries.Meanwhile,improvements in ETI scores have slowed in Germany,Japan and the US over the past year.In recent years,Germany has increased its coal-based energy production by 35%in 2022 compared to 2020,31 to compensate for reduced relia

113、nce on Russian gas,raising its carbon intensity.Germany also phased out nuclear energy in April 2023 with plans to replace it with solar and wind energy.While solar and wind energy adoption has increased,most of the gap has been filled by coal.32 Japan has been significantly impacted by fluctuations

114、 in gas prices,leading to a drop in its equity scores due to challenges with energy affordability.Early success with clean hydrogen shows promising signs.The US has seen robust growth in ETI scores over the past three years,with the Inflation Reduction Act(IRA)33 playing a key role in providing the

115、economic environment for renewable energy and EV adoption.However,the pace of the transition has decreased in the past year due to a backlog in connecting clean energy projects to the grid,34 especially with large projects taking longer to connect.Additionally,while solar and wind are generally acce

116、pted by the public,local restrictions by homeowners driven by NIMBYism(not-in-my-backyard)pushed energy players to build assets in areas with strong potential for wind and solar while respecting the needs of local communities.35Among the new entrants in the top 20 are Latvia and Chile.Latvia has bol

117、stered its sustainability performance with renewables contributing to approximately three-quarters of its power generation,largely driven by hydropower and biofuels.36 Additionally,Latvia has made strides in energy security by diversifying its import partners.Chile,on the other hand,has significantl

118、y improved its ETI score this year,with increased renewable energy capacity37 leading to improved sustainability performance and reduced energy imports.Despite these advancements,the global imperative to balance equity,sustainability and security remains paramount.Only 20 countries improved scores a

119、cross all three dimensions in the past year.The growing complexity of macroeconomic landscapes and escalating geopolitical tensions have introduced additional challenges,underscoring the need for tailored pathways towards the energy transition to address these evolving dynamics effectively.Last year

120、,17%of countries,including notable examples like France,China,Poland,Belgium and India,showcased improvement across equity,security and sustainability.Fostering Effective Energy Transition15Regional scores and key insights:average scores by peer group ETI 2024FIGURE 4Advanced economiesOver the past

121、decade,advanced economies,led by Nordic countries,have seen a strong 6%improvement in their average ETI scores.While they have achieved universal access to electricity and progress on decarbonization,affordability has become a challenge due to elevated energy prices in recent years.In the last year,

122、progress has been remarkable in education and human capital and infrastructure.However,security and finance and investments saw a decline due to the energy crisis and uncertainty in energy markets.Latin America and the Caribbean Latin America and the Caribbean has seen the slowest growth,with ETI sc

123、ores increasing by only 3%over the past decade.Despite leading in the sustainability dimension,largely due to reliance on hydropower and recent expansions in solar and wind capacity,the region surprisingly saw a 70%decline in investment in renewables scores over the same period.In addition,education

124、 and human capital and innovation environment both experienced declines of 5%and 9%respectively over the past decade.Sub-Saharan Africa Sub-Saharan Africa has witnessed remarkable energy transition growth of 10%over the last decade,making it the strongest performer across all groups on the equitable

125、 dimension.Notably,the region has experienced the highest gain of 58%in regulation and political commitment scores,alongside advancements in education and human capital.However,the region faces challenges in attracting global investments and fostering public-private partnerships to strengthen infras

126、tructure and diversify its energy mix.Middle East,North Africa and Pakistan Over the past decade,the Middle East,North Africa and Pakistan region has seen a 7%growth in ETI scores,which have stagnated in the last three years.The regions heavy reliance on oil revenues poses challenges for a sustainab

127、le energy transition.While transition readiness has improved by 22%over the decade,the region has seen the most significant decline in finance and investments in the past three years.Emerging and developing Europe Emerging and developing Europe has demonstrated strong growth,with a 7%increase in ETI

128、 scores over the past decade.The group excelled in transition readiness,experiencing a 16%gain in scores,driven by advancements in regulation and political commitment and finance and investments.Over the past three years,significant progress has been made in adding renewable energy capacity and enha

129、ncing transport infrastructure,reflected in improved infrastructure scores.However,challenges remain due to high energy imports and consumer affordability concerns.Commonwealth of Independent StatesIn the past decade,the Commonwealth of Independent States(CIS)has seen a 4%improvement in aggregate ET

130、I scores.Notably,regulation and political commitment scores have increased by 32%in this period,driven by improvements in energy efficiency and renewable energy,in line with COP28 outcomes.However,there has been a recent decline in education and human capital and innovation scores,attributed to decr

131、ease in jobs in low-carbon industries and public spending on research and development.In addition,energy affordability challenges remain for consumers,exacerbated by high fuel subsidies,which experienced a 60%increase in the last year.Emerging and developing Asia Emerging and developing Asia,includi

132、ng populous nations like India and China,has shown an 8%improvement in ETI scores over the past decade,mainly in reducing energy intensity.The region has also bolstered its regulation and policy framework,evident in a 16%increase in the carbon pricing score.However,progress on the sustainable front

133、has stalled,marked by a concerning increase in carbon intensity.Despite renewable energy additions,the region remains heavily reliant on coal.13%32%64.8Average score29%8%6%55.2Average score4%11%4%49.6Average score2%8%7%51.8Average score7%2%3%57.5Average score3%1%1%54.1Average score1%46%38%53.9Averag

134、e score45%Percentage of global populationPercentage of global total energy supplyPercentage of global CO2 emissionsFostering Effective Energy Transition16ETI scores assess a countrys current energy system without accounting for the pace of its transition.The concept of transition momentum highlights

135、 the countries that are rapidly transitioning and those that face risks.While there is no globally defined percentage to measure the progress of the energy transition,its pace depends on various factors,including the country and region-specific circumstances,the availability of resources and technol

136、ogy,the degree of political commitment and public support,and the overall urgency ofaddressing the climate crisis.Although ETI scores reached their highest in 2024,transition momentum has slowed in the last three years.ETI scores showed a three-year compound annual growth rate(CAGR)of 0.22%in 2024 c

137、ompared to 0.83%in 2021.2.2 Transition momentumEnergy Transition Index momentum,three-year CAGR percentage,2015-2024FIGURE 5-0.150.580.250.22-1%0%1%2%20152016201720182019202020212022202320240.910.830.950.880.910.71ETI momentumSource:World Economic Forum.Recent macroeconomic conditions have significa

138、ntly impacted the equity dimension of the energy transition.Inflation and high interest rates have compounded the challenge making it difficult for lower-income communities and developing nations to invest in sustainable energy solutions.These solutions often come with higher upfront costs,further e

139、xacerbated by the increased cost of borrowing.Additionally,energy prices have surged in recent years due to several factors:increased demand post-pandemic recovery,supply chain disruptions,geopolitical tensions affecting oil and gas supply,and underinvestment in traditional energy sectors amid the s

140、hift to clean energy sources.These issues have led to tighter energy markets and higher prices,hindering accessibility to affordable clean energy solutions and impeding progress towards an equitable energy transition.38Furthermore,energy supply disruptions have intensified pressure on energy securit

141、y measures.In response,nations have prioritized immediate energy security concerns,often at the expense of a more equitable and sustainable transition.Several countries have made notable progress in their energy transition journeys,each with tailored pathways to address their unique challenges and o

142、pportunities.Among the major global economies,the countries with the strongest momentum include Australia,China,Indonesia,Brazil and Canada.Australias 2022 Climate Change Act enhanced the countrys political commitment to sustainable transition and has ramped up its security dimension by further redu

143、cing reliance on fuel imports.39 China continues to be the major player in manufacturing clean energy technologies and has significantly ramped up its domestic renewable energy capacity,adding record-level solar photovoltaics(PV).40 Indonesia enhanced energy access,especially in rural areas,reaching

144、 98%access in 2023,compared to 93%in 2022.Canadas 2021 Emissions Trading Systems(ETS)permit allowed the commercialization of several emerging technologies in some applications,such as carbon capture,utilization and storage(CCUS)and clean hydrogen.41Lebanon,Ethiopia,Tanzania,Zimbabwe,and South Africa

145、 are the top five countries in energy transition momentum.While these countries have shown significant strides,there is still considerable room for improvement.Nevertheless,the success stories of these countries,which are in the lower quartile of the ETI ranking,provide valuable and specific lessons

146、,especially for those nations that have,so far,experienced an unbalanced energy transition.Fostering Effective Energy Transition17 Moving the needle on a meaningful global energy transition requires that countries with lower ETI scores hasten their transition efforts.Additionally,moving the needle o

147、n a meaningful global energy transition requires that countries with lower ETI scores(yet showing considerable potential for progress)hasten their transition efforts.Common themes across the countries with the highest momentum scores include:Reduced fossil fuel subsidies,leading to renewable energy

148、being an economically preferred alternative.Proliferation of decentralized renewable energy(DRE)leading to improved energy access,reliability and decarbonization.Increase in clean energy jobs.For example,in Lebanon,a significant reduction in fossil fuel subsidies catalysed a surge in distributed sol

149、ar energy.42 Meanwhile,Ethiopia embarked on its National Electrification Program in 2017,charting a course towards universal energy access by 2025,with a specific target of providing off-grid power solutions to 35%of its population.43 Tanzania has emerged as a front-runner in Sub-Saharan Africa,with

150、 a rapid expansion of electricity,achieving a notable 37.7%increase in accessibility across both rural and urban areas from 2011 to 2020.44 Zimbabwe witnessed a rise in renewable energy generation,primarily through hydropower,leading to improved energy access and substantial job growth in clean ener

151、gy sectors.45 Despite strides made in improving energy and carbon intensity,South Africas energy sector still has significant room for further enhancement.46On the other hand,several countries have experienced a reversal in energy transition momentum over the past three years,notably,the UK,Italy,Tu

152、rkey,Angola and Kuwait.The UK has been an early leader in the energy transition and continues to be a top performer;however,the energy crisis hit UK households particularly hard as the country is heavily reliant on natural gas,contributing 39%of its energy mix,had a decline in momentum due to energy

153、 affordability declining.47 The UK increased its liquefied natural gas(LNG)imports from the US.However,a lack of diversity in energy imports also impacts the security dimension.48 Similarly,Italy is heavily reliant on gas,and Turkey has seen a decline in the equity dimension due to surging electrici

154、ty and gas prices,accompanied by a drop in transition readiness performance,particularly in regulation and investments.Angolas momentum has stalled due to a reduction in renewable energy investments.Additionally,Kuwait remains one of the most carbon-intensive economies globally,characterized by heav

155、y reliance on fossil fuels and high energy intensity.49Regional breakdown of ETI momentum reveals a wide divergence in performance,with Sub-Saharan Africa showing the strongest improvement,while the Commonwealth of Independent States experiences the most significant decline.Fostering Effective Energ

156、y Transition18Sub-Saharan Africa leads with the highest positive momentum,driven primarily by advancements in energy security and regulations.The region has diversified its imports and significantly improved grid reliability.However,there is still substantial room for improvement,especially on the e

157、quity and finance fronts to expand access to electricity and clean cooking and unlock more investments in the energy system.Advanced economies follow,with smaller yet positive momentum,mainly due to notable improvements in sustainability,including a decade-long trend of steadily decreasing energy an

158、d carbon intensity.Emerging and developing Asian countries have experienced modest positive momentum,driven by enhanced transition readiness across political commitments and infrastructure.In Latin America and the Caribbean,momentum has levelled off,with improvements in sustainability from increased

159、 renewable energy contributions partially offset by declining equity due to gas prices.For emerging and developing Europe,the improvements in energy security and sustainability,through diversification in energy imports and increased renewable energy,have been partially offset by a decline in afforda

160、bility.The Middle East,North Africa and Pakistan has shown negative momentum due to sustainability challenges.Despite the regions high potential for solar energy and deployment in a few countries,it has the highest energy intensity and trails other regions in terms of integrating renewable energy in

161、to the energy mix.The Commonwealth of Independent States also shows negative momentum,with increasing energy prices and subsidies.System shocks will continue to test the resilience of the energy sector.One of the most important shocks in recent years was the COVID-19 pandemic.It is important to anal

162、yse the impact of a black swan event such as the COVID-19 pandemic to draw key learnings for future purposes.This examination provides important lessons for bolstering preparedness,resilience andsustainability in anticipation of future shocks.The critical takeaways include:Developing renewable energ

163、y capacity and local manufacturing for green energy technologies enhances resilience and ensures reliable supply.Implementing time-of-use electricity pricing flattens the energy demand curve,which is essential as electricity use increases with more electrification and remote work,particularly in ene

164、rgy-intensive countries.2.3 A lookback on COVID-19 impactsAdvanced economies455055606570-0.6%-0.4%-0.2%0.0%0.2%0.4%0.6%0.8%1.0%1.2%ETI score 2024ETI momentum 2024Emerging and developing EuropeEmerging and developing AsiaMiddle East,North Africa and PakistanSub-Saharan AfricaLatin America and the Car

165、ribbeanCommonwealth of Independent StatesETI momentum vs score by region,2024FIGURE 6Source:World Economic Forum.Fostering Effective Energy Transition19 The COVID-19 pandemic also underscored the importance of energy security,emphasizing the need for reliable access to electricity and reducing depen

166、dence on imported fossil fuels.Aligning immediate economic needs with long-term sustainability goals is achieved through stimulus measures and broad policy tools.Advancing digital transformation boosts efficiency,growth,customer experience and reliability.Diversifying energy imports and cutting foss

167、il fuel subsidies is accomplished by integrating both centralized and decentralized renewable energy sources.The COVID-19 pandemic years witnessed substantial disruptions in global energy markets,with over 100 countries implementing lockdown measures by March 2020.50 China,a major player in global c

168、lean energy technology manufacturing,hosting over 80%of the worlds solar PV module manufacturing capacity and accounting for 58%of onshore wind turbine manufacturing,51 was the first to initiate lockdowns.In recent years,some countries and regions have sought to localize critical parts of the manufa

169、cturing processes,as evidenced by the EUs 2030 objective to produce at least 40%of key products domestically to decrease greenhouse gas emissions.52 Recent geopolitical events,including the Russia-Ukraine war,Middle East conflicts and others,further solidify the need for local resilience,both in cle

170、an and conventional sources.COVID-19 lockdowns and remote work arrangements shifted residential energy demand and consumption patterns,altering peak demand times and overall energy use.Companies have swiftly adapted to changing energy consumption dynamics,exemplified by the proliferation of resident

171、ial smart energy management solutions like smart thermostats and energy monitoring systems.54 Moreover,heightened consumer awarenessof electricity pricing throughout the day has spurred the adoption of time-of-use pricing plansfrom utilities suppliers.Additionally,energy-saving apps have become popu

172、lar in places like the UK,where electricity prices particularly spiked.These developments enable consumers to adjust their use patterns and flatten the demand curve.As consumers increase the time spent working from home,countries with high energy intensity can adopt time-sensitive electricity pricin

173、g to drive down peak demand,which would reduce the total capacity needed.Some governments were able to tackle immediate economic recovery needs with long-term sustainability ambitions through new policies and stimulus packages.Stimulus packages varied in their support for renewable energy.For exampl

174、e,the NextGenerationEU55 initiative,a 807 billion recovery plan responding to the economic impact of the COVID-19 pandemic,aimed to spur economic growth while accelerating the transition to a green and digital economy.Similarly,the IRA is the largest climate investment in US history,designed to mobi

175、lize private capital to achieve climate goals and strengthen long-term growth.56The COVID-19 pandemic also catalysed innovation in the energy sector,with accelerated adoption of digital technologies,smart grid solutions and energy storage systems.Utilities suppliers globally accelerated the deployme

176、nt of advanced metering infrastructure and smart grid solutions to remotely monitor and manage energy distribution networks.The focus on resilience and sustainability also spurred innovation in renewable energy technologies,energy efficiency measures and decentralized energy systems.The COVID-19 pan

177、demic also underscored the importance of energy security,emphasizing the need for reliable access to electricity and reducing dependence on imported fossil fuels,aligned with the COP28 outcome of transitioning away from fossil fuels.While the COVID-19 pandemic presented an opportunity to translate t

178、he temporary emissions drop into longer-term progress,compounding impacts such as geopolitical tensions,“higher for longer”interest rates and other uncertainties have complicated the energy transition path.However,some effects are enduring,including the need to build resilient supply chains,enhance

179、energy system flexibility and maintain commitment to decarbonization and energy efficiency.20192022Global clean energy investments$1.1trillion$1.4trillionGlobal energy intensity(2017 PPP)4.44MJ/$4.24 MJ/$Share of renewable energy in the total electricity generation26.1%29.5%Global GHG emissions52.6

180、Gt CO2eq 53.8 Gt CO2eq 46.27 kg/GJ 45.41 kg/GJ CO2 intensity:CO2 per TES27.6 minutes 26.4 minutes Average commute time$441 billion$1trillionGlobal fossil fuel consumption subsidies778 million774 millionPeople without access to electricity23,718 TWh25,530 TWhElectricity domestic consumption2.6%14%Glo

181、bal market share of EVs within passenger car sales20192022Fostering Effective Energy Transition20Evolution of key indicators,pre-COVID-19 pandemic(2019)vs post-COVID-19 pandemic(2022)FIGURE 7Note:MJ=megajoule;PPP=purchasing power parity;GJ=gigajoule;CO2eq=carbon dioxide equivalent;TWh=terawatt hour;

182、TES=Total Energy SupplySource:International Energy Agency(IEA);Bloomberg New Energy Finance;Environmental Investigation Agency;Society for Human Resource Management;Enerdata;World Trade Organization;Electronic Data Gathering,Analysis,and Retrieval(EDGAR).Fostering Effective Energy Transition21Sub-in

183、dex and dimension trends3Despite energy security challenges,overall improvement is driven by recovery in equity and continued progress in sustainability,alongside strong transition readiness.Fostering Effective Energy Transition223.1 System performanceTo achieve an effective energy transition,nation

184、s must navigate a delicate balance across the equitable,secure and sustainable dimensions(Figure 8).Over the past decade,81%of countries tracked by the ETI have witnessed improvements in their energy system performance,indicating strong growth.Global average system performance scores have steadily i

185、ncreased by 3%,with sustainability increasing by 6%and security by 3%.However,improvement trends vary across dimensions due to competing priorities,economic uncertainties and geopolitical complexities.System performance dimension scores year-on-year change,2015-2024FIGURE 8System performanceEquitabl

186、eSecureSustainable-3%-2%-1%0%1%2%3%20152017201920212023Source:World Economic Forum.The global average score for energy security declined in 2024,compared to equity and sustainability scores,primarily due to countries switching from net exporters to net importers,as a small number of net exporters ga

187、ined more market share.Also,flexibility in the electricity system reduced because of limited coal-to-gas switching due to high gas prices,slowing down the decade-long trend of security.Equity scores have improved by 0.2%in 2024,largely due to wholesale gas prices declining by nearly 40%in 2023 compa

188、red to 2022 whereas energy subsidies continue to increase steadily,with 2022 levels at three times the level compared to 2020.The sustainability dimension has shown the most advancement,marked by substantial renewable energy capacity additions in 2023.The evolution of countries across these dimensio

189、ns in the past decade is further explored in the following sections.EquityThe imperative for achieving an equitable energy transition is rooted in the pivotal role of the energy sector in driving socioeconomic growth.This involves affordable access to modern and clean forms of energy for all,support

190、ing the continuity of economic development57 and ensuring that the benefits and opportunities of transitioning to a clean energy system are accessible to and shared among all segments of society.58 Equity efforts aim to prevent historically marginalized communities from bearing adisproportionate bur

191、den of negative impacts.While the energy transition offers the potential to create new jobs and economic opportunities,improve livelihoods and empower individuals,communities and societies,if not managed properly,it also risks exacerbating costs and inequalities,impacting vulnerable populations.Ther

192、efore,leaders often face the challenge of implementing policies and infrastructure investments that support economic growth while maximizing social welfare and ensuring access to diverse and affordable energy sources.59 The ETIs equitable dimension tracks the access,affordability and economic develo

193、pment of the energy system.Since 2015,the global average score for the equitable dimension has seen a slight 1%decline,with a recent increase of 0.2%from 2023 to 2024 and a 3%decline from 2022 to 2023 following market signals,as shown in Figure 9.Notably,this dimension is the only one showing negati

194、ve progress over the past decade.Oman,Israel,the US and Qatar are leading in 2024,while countries in Sub-Saharan Africa,including the Democratic Republic of the Congo,Tanzania,Zambia and Zimbabwe rank in the lowest quartile.Although global average scores for energy access have seen gains since 2015,

195、scores for energy affordability and economic development have declined by 8%and 2%,respectively.This can be attributed to the lingering effects of the energy crisis and the significant shock to energy prices experienced in 2022,leading to increased household expenditures,as well as the rapid reintro

196、duction of energy subsidies at higher levels.However,these trends vary by country,depending on their stage of economic development.81%of countries tracked by the ETI have witnessed improvement in energy system performance.Fostering Effective Energy Transition23ETI equitable dimension trend,2015-2024

197、FIGURE 92015201620172018201920202021202220232024Index score5860626466687066.867.367.668.268.368.066.166.267.867.7Source:World Economic Forum.Geopolitical conflicts and disruptions in key energy-producing regions,like the Middle East and Ukraine,rattled global energy supply chains,leading to shortage

198、s and subsequent price hikes.ETI trends also show that while the rate of access to electricity in urban and rural areas as well as access to clean cooking fuels has slowed in the past three years,electricity prices remain high across several regions and countries.As economies reopened post-COVID-19-

199、pandemic lockdowns in 2021,global gas and electricity prices began to surge,escalating further in 2022 amid the Russia-Ukraine war,reaching unprecedented levels.Throughout 2022,wholesale gas and electricity prices in Europe and other regions hit record highs,with concerns about potential disruptions

200、 to supply,prompting government interventions to ensure affordability for households.60 While electricity and gas prices have started to stabilize,particularly in Europe,they still remain higher than they were in 2022.61 These high prices continue to fuel inflationary pressures that deter investment

201、s in countries already dealing with high interest rates and greater volatility.They also disproportionately affect low-income households and exacerbate major concerns regarding a fair and equitable energy transition.Moreover,global energy subsidies surged in 2022,followed by a slight decline thereaf

202、ter.According to the International Energy Agency(IEA),subsidies for fossil fuel consumption exceeded$1 trillion for the first time as governments moved to shield consumers and businesses from rising energy prices.62 However,these subsidies pose significant challenges for governments facing tightenin

203、g fiscal space and competing spending priorities while also reducing incentives for consumers to adapt energy consumption to price levels.Improper management of subsidies can disproportionately impact vulnerable households,fuel social unrest and exacerbate inequality.63 Fostering Effective Energy Tr

204、ansition24Equity issues remain largely unsolved and are often less prioritized and understood as compared to energy sustainability and security.Energy equity encompasses various dimensions within and across nations and stakeholders.The lack of affordable access to modern forms of energy remains a si

205、gnificant concern in many countries,particularly in Sub-Saharan Africa,where significant portions of the population still lack electricity access.At the current rate of progress,the world will reach only 92%of electrification by 2030.64 Simultaneously,transitioning to cleaner energy systems,whether

206、in advanced or developing nations,necessitates substantial policy changes and infrastructure investments.Despite the strong business and economic case,complications often arise from misinformation or concerns among affected communities,leading to resistance at the grassroots level against externally

207、 imposed changes and clean energy infrastructure projects.Additionally,there is a risk of growing disparities in access to clean energy investments and technologies,often accompanied by mistrust and uncertainty regarding the benefits of government policies and business actions.These factors also mak

208、e it challenging for companies to plan and invest effectively,potentially slowing down the energy transition.65The World Economic Forums 2024 report,Building Trust Through an Equitable and Inclusive Energy Transition,deep dives into equity as a key dimension of the energy system and a concern for st

209、akeholders at various levels:for individuals,communities,businesses and governments.Despite growing awareness,this dimension remains under pressure,especially in a period characterized by crises,turbulence in energy markets and shifting geopolitical priorities,where energy security and sustainabilit

210、y are often prioritized and better understood by decision-makers.Advancing an equitable energy transition is a key topic in global discourse,prompting policymakers to implement targeted programs to address these issues.Some countries like Brazil,Canada and India have successfully built the case for

211、an equitable energy transition in their respective contexts.Brazil currently holds the G20 presidency and emphasizes the social dimension of the energy transition,aiming for a fair and inclusive process,as well as allocating resources appropriately and promptly in response to the climate crisis.66 W

212、ith its abundant biodiversity,extensive renewable energy potential and significant industrial base,the country has been making strides towards an equitable transition through the Industrial Deep Decarbonization Initiative.This initiative allows Brazil to address challenges in sectors such as cement,

213、steel,aluminium and petrochemicals.It prioritizes social safety nets,community engagement and workforce reskilling,thus ensuring that economic growth aligns with environmental sustainability and social justice.67Similarly,Canada has been emphasizing clean energy projects that prioritize partnerships

214、 with Indigenous communities,with a strong focus on promoting asset ownership among these groups.As a result,Indigenous communities now own a significant portion of Canadas power generation capacity,reflecting a commitment to fostering equitable participation and benefit-sharing in the countrys clea

215、n energy transition.Meanwhile,India has been focusing on leveraging energy for income generation and supporting microenterprises through the productive use of renewable energy sources.This approach is facilitated by policy frameworks that advocate for distributed renewable energy(DRE)solutions aimed

216、 at supporting livelihoods.There is also a strong emphasis on ensuring the affordability and economic viability of these solutions,underscoring Indias commitment to promoting sustainable energy practices that benefit local communities and drive economic growth.Effective interventions in achieving en

217、ergy equity require careful design and targeting.This includes implementing social safety nets and compensatory measures such as cash transfers and temporary basic income initiatives,with a focus on alleviating the burden on low-income households most affected by energy-related costs.The transition

218、to an equitable energy system involves the collective efforts of multiple stakeholders and requires strengthening and expanding current measurement mechanisms.Measuring progress towards an equitable energy transition poses a challenge for decision-makers,necessitating the development of stronger ana

219、lytical frameworks and metrics beyond what the ETI currently captures.Metrics play a key role in operationalizing energy equity and guiding investment and policy decisions that shape the transition.However,given the multifaceted nature of energy equity,establishing metrics and designing policies to

220、measure progress entails first addressing the issue of taxonomy and understanding what constitutes social impact.This process involves laying down a set of foundational principles and developing frameworks and specific indicators to assess impact at various individual,local,national and internationa

221、l levels between nations.Measuring progress towards an equitable energy transition poses a challenge for decision-makers,necessitating the development of stronger analytical frameworks and metrics.Fostering Effective Energy Transition25The process of creating analytical frameworks begins with establ

222、ishing a clear definition of equitable energy transition,tailored to local contexts and accounting for current priorities,historical contexts and specific challenges within each region or countrys unique energy transition journey.68 Then,the main inequities in the energy system need to be identified

223、,which can then serve as guiding principles.A potential framework for measuring energy equity could include a 2x2 matrixconsidering“light”energy equity and“deep”energy equity.Light energy equity metrics could focus on measurable quantitative indicators such as:Access to clean energy:Percentage of ho

224、useholds with access to electricity from clean and renewable sources.Affordability:Energy expenditure as a percentage of income,energy prices relative to income,energy burden(the proportion of income spent on energy bills),vulnerability to utility service disconnections.69 Asset ownership:Distributi

225、on of ownership of renewable energy infrastructure and resources among different socioeconomic groups.Job creation:Number of jobs created in the renewable energy sector per capita or as a percentage of total employment.Deep energy equity metrics may involve more qualitative or nuanced indicators tha

226、t capture broader socioeconomic considerations,such as:Community engagement:Level of participation and decision-making power of marginalized and Indigenous communities in energy planning and policy development.Health and well-being:Measures of community health outcomes,including reductions in respir

227、atory illnesses and other health conditions related to energy use.Social cohesion:Indicators of social capital,community resilience and trust among diverse stakeholders involved in the energy transition.Equity in decision-making:Representation of marginalized and Indigenous groups in energy governan

228、ce structures and decision-making processes.By incorporating both light and deep energy equity metrics,policy-makers and stakeholders can gain a comprehensive understanding of the equity implications of energy policies and initiatives.This approach enables more intentional design of systems,technolo

229、gy and procedures to ensure a fair and equitable distribution of benefits across the energy system.Fostering Effective Energy Transition26While obviously much slower than is necessary,energy systems around the world are starting to change.New clean energy technologies are starting to expand their pr

230、esence and impact,in some cases very significantly.Last year,almost one in every three new cars sold in Europe was electric,and that number is approaching one in two in China.Heat pump sales saw huge growth after the recent energy crisis and now represent the most-deployed home heating solution,over

231、taking fossil fuel-based systems in a number of countries.In these ways and many others,people are now beginning to experience clean energy transitions in their communities.As this transition accelerates and it will it is imperative that equity and inclusivity are central considerations for policy-m

232、aking.Clean energy transitions must prioritize the needs and well-being of people,particularly those who are most in need and most vulnerable to the impacts of climate change and energy poverty.This requires a holistic approach that considers not only environmental objectives but also social and eco

233、nomic dimensions.All clean energy transition policies are ultimately about enhancing peoples lives reducing their energy bills,increasing their comfort,providing decent jobs or simply avoiding the worst impacts of climate change.The best policies intentionally recognize these benefits and are design

234、ed to maximize them while ensuring a fair distribution of these benefits and costs.As an example,the spectacular growth in EVs has been underpinned in many countries by generous subsidies.Who benefits from these subsidies?In France for example,lower-income applicants receive considerably higher subs

235、idies,making the additional cost of an EV relative to income about the same across society.However,only certain segments of society will ever buy a new car,let alone a new EV.India focuses its subsidies on electric two-and three-wheel vehicles,which are used by a much wider cohort.Many countries als

236、o recognize sustainable mobility solutions well beyond cars,investing and supporting accordingly.Understanding the distributional effects of clean energy policies means measuring them.As the IEA develops its analysis on this issue,it is striking how rare it is for clean energy policies to have well-

237、defined metrics put in place or data being collected regarding who exactly is impacted and how.Metrics and indicators are essential tools for analysing the distributional effects and social impacts of clean energy policies particularly at the household,community and national levels.Instead of solely

238、 relying on aggregate indicators,policies would benefit from more nuanced metrics that assess impacts across income brackets,geographic regions and demographic groups.These metrics can help policy-makers identify knowledge gaps,track progress and make better-informed decisions.The IEA coined the ter

239、m“people-centred clean energy transitions”to encompass all dimensions of how people experience and participate in the transformation of the global energy system.This is defined across four key thematic areas:decent jobs and worker protection;social and economic development;equality,social inclusion

240、and fairness;and engaging people as active participants.This last one is no less important than the others,in fact,in many ways,it is the key to achieving them all.By engaging with affected communities and incorporating diverse perspectives,clean energy policies that are responsive to the needs of a

241、ll segments of society can be designed.Inclusive processes for policy-making can enhance their distributional patterns,and of course can build wider public support for such policies.At this political moment,the risks associated with policies made without a focus on the social dimensions,and on ensur

242、ing their acceptance,are very high.A people-centred approach recognizes the importance of putting people first in planning and policy-making for clean energy transitions.These are not just words.It will require innovative,focused policy design and implementation.Real community involvement takes time

243、 and effort,and skill.Good data collection and metrics require significant investment and infrastructure over years.Measuring social outcomes is not the same as measuring kilowatt-hours or tonnes of emissions,but without such a focus,how can clean energy be truly people-centred?GUEST PERSPECTIVETowa

244、rds equitable energy transitions:a people-centred approachBy Brian Motherway,Head of Energy Efficiency and Inclusive Transitions Office,International Energy AgencyFostering Effective Energy Transition272015201620172018201920202021202220232024Index score5860626466687064.364.464.566.766.466.364.965.26

245、5.465.765.8SecurityEnergy security,defined as the continuous availability of energy sources at a reasonable price,has become a prominent topic for countries amid the current energy crisis,driven by market volatilities and disruptions in supply.This period is also characterized by lower investment in

246、 traditional energy assets,coupled with an unexpectedly rapid economic recovery after the COVID-19 pandemic,which has strained energy supply chains.This led to concerns about gas availability for winter heating,reduced industrial activity and pressure on government budgets allocated for energy subsi

247、dies.Additionally,recent tensions in the Middle East,particularly in the Strait of Hormuz where roughly a quarter of global oil trade flows,70 have added an additional layer of uncertainty to energy security.The ETIs secure dimension focuses on energy supply,reliability and resilience.The increase i

248、n recent shocks has led to security scores slightly decreasing(-0.6%)in 2024.However,these shocks have been partially offset by countries significantly increasing diversity across import counterparts and energy sources.Thus,this decline has been marginal as most countries have found alternatives.Nev

249、ertheless,the focus on security may have come at the expense of energy equity and sustainability,reflected in declining equity scores,and slowing down sustainability momentum.Figure 9 shows the secure dimension score over time.Advanced economies like the US,Norway,Australia and Estonia score high du

250、e to mature energy infrastructure.These countries exhibit strong diversity in energy sources as well as import counterparts.Malaysia also scores highly due to supply diversity,while major fuel exporters like Saudi Arabia,United Arab Emirates and Azerbaijan,score highly due to their gas reserves.For

251、these countries,a key strategic imperative is to maintain energy security while transitioning to decarbonized energy systems.ETI secure dimension trend,2015-2024FIGURE 10Source:World Economic Forum.Countries have,for the most part,prioritized mitigating energy security risks,partially at the expense

252、 of equity and sustainability.Countries like Colombia,despite being oil producers,have improved energy security in recent years through renewable sources like hydropower and bioenergy.71 Meanwhile,Egypts increased domestic energy consumption,coupled with heavy reliance on natural gas for electricity

253、 generation,poses energy security risks.Nonetheless,the countrys commitment to enhancing the diversity of its energy mix,increased contribution of renewable energy and advancing infrastructure development has effectively mitigated these risks over the past year.72 Similarly,Poland has risen in the E

254、TI ranking in this dimension by diversifying energy import counterparts away from Russian gas.73-8-6-4-20246Net energy imports,percentage of energy use00.10.20.30.40.50.60.70.80.91Diversification of import counterparts,numberAverageFostering Effective Energy Transition28Several countries are faced w

255、ith a dual challenge in ensuring energy security:reducing net energy imports while diversifying energy import counterparts.In recent years,a noticeable trend has emerged in the global energy landscape:the slight uptick in net energy imports across most countries.Economic growth and intensified indus

256、trial activities have led to increased energy demand,often surpassing domestic production capacities.Consequently,countries must rely more on imports to meet their energy needs,ensuring the stability of their energy supplies.Out of 120 countries analysed in the ETI,86 are net energy importers in 202

257、4 and only 34 of them are net energy exporters,as shown in Figure 11.Another notable trend is the improvement in the diversity of energy import counterparts.This evolution stems from an increased awareness of the risks associated with over-reliance on a limited number of energy suppliers,which leave

258、s countries more exposed to risks such as geopolitical instability,supply disruptions and price volatility.To mitigate these risks,nations have diversified their energy import portfolios,sourcing from a wider array of countries and exploring alternative energy sources beyond traditional fossil fuels

259、.Technological advancements and international cooperation have facilitated this diversification.Renewable energy technologies,such as solar and wind,have become more cost-effective and reliable.Additionally,the development of LNG markets has enabled more flexible and geographically diverse energy tr

260、ading,reducing dependency on pipeline-bound gas supplies and facilitating importation from distant producers.Thus,diversification is key.This helps reduce risk and improves resilience but necessitates new approaches to energy storage at grid-scale,regional interconnectors,a range of generation strat

261、egies at both small and large scale such as smart grids for distributed smaller scale generation,and changes in energy policy.Spread of countries on Energy Transition Index security indicatorsFIGURE 11Source:World Economic Forum.Fostering Effective Energy Transition29Countries need to prioritize six

262、 key factors to enhance energy security:supply security,demand management,market and regulatory measures,building global and regional trust,ensuring system stability,and strengthening system security.The World Economic Forums 2023 report,Securing the Energy Transition,analyses the security dimension

263、.The priority actions remain important as geopolitical tensions continue to rise and strain the energy system:System security:Enhance capabilities and focus on risk management in both traditional(physical)and emerging areas(such as cybersecurity)due to increased digitalization and connectivity in en

264、ergy systems.Supply security:Boost the domestic clean energy mix and secure critical mineral supply chains to lessen import reliance and broaden trading networks.Demand management:Promote efficient demand management by emphasizing energy efficiency and transitioning materials.Encourage behavioural c

265、hanges and demand responsiveness through effective policies,tools and communication.System stability:Quicken stability improvements to bolster the systems reliability and resilience and invest in transmission and distribution networks.Global and regional trust:Work collaboratively to minimize risks

266、and capital costs associated with the transition,drawing on global and regional financial and technological expertise.Market and regulatory measures:Pursue strategic investments in clean energy while managing the phasing out and repurposing of existing infrastructure.Fostering Effective Energy Trans

267、ition30As the global community grapples with the crucial transition towards sustainable energy systems,it is imperative to consider insights from the developing world.Their perspectives on transforming energy demand can offer invaluable lessons as we navigate this global transition.To limit global w

268、arming to 1.5C,we need to cut emissions by about 7%annually,but theyre rising by 1.5%each year,as noted in the World Economic Forums Bold Measures to Close the Climate Action Gap report.Energy-related emissions contribute to over 80%of total global emissions.Although renewable energy production has

269、more than doubled in the last decade,it makes up only slightly over 13%of total energy use(up from 9%in 2011).By 2050,global electricity demand will more than double due to population growth and increased electrification.Despite more renewable energy,it will not be enough to meet our goals.We need t

270、o focus on managing demand to make faster progress.The IEAs plan to reach net-zero emissions by 2050 states that,by then,global energy demand should be about 8%lower than today,despite having a global economy twice as big with 2 billion more people.Transforming how we use energy is crucial for both

271、energy security and cutting emissions.We need to prioritize energy efficiency on par with switching to renewable energy,especially in the next decade.This is especially true for the developing world as it tries to balance sustainability,affordability and energy security for its development goals.The

272、 prevalent notion of a linear correlation between economic growth and energy requirements no longer holds true.Indias per capita emissions,at 1.7 tonnes of CO2,are already 60%lower than the global average of 4.4 tonnes of CO2 per capita.However,there is still a need to decouple growth from energy de

273、mand.This requires significant investment in energy efficiency,particularly during the development of new infrastructure and manufacturing capacity.India has been taking multiple initiatives in this regard.The Indian governments UJALA74 scheme launched in 201575 is the worlds largest domestic lighti

274、ng project to replace energy-inefficient incandescent bulbs and demonstrates how small actions can add up to gigantic outcomes,in this case abating approximately 40 million tonnes of CO2 annually.Indias Long-Term Low Emission Development Strategy(LT-LEDS),presented at COP26,includes a goal to reduce

275、 the carbon intensity of the economy by 45%by 2030 compared to 2005 levels.This is one of the five key goals for the country,along with scaling up renewable energy.It is also a key principle under Mission LiFE(Lifestyle for Environment)launched for public participation.Interactions with the governme

276、nt have emphasized the need for the private sector to do more and act faster.Boosting energy productivity is not only good for the environment but also financially rewarding.It often pays off quickly,making it a smart investment choice.There is a compelling business case if measures are taken by 203

277、0,there could be a roughly 30%reduction in energy intensity,and up to$2 trillion in annual savings.76 Existing technologies and solutions can be deployed.Sectors like industrial manufacturing,transport and the built environment have thepotential to drive the most significant impact.Mahindra Group ha

278、s embraced energy efficiency as a key decarbonization lever across its entire portfolio of group companies.Our automotive and farm businesses have significantly improved energy productivity,with around 90%increase between the financial year 2023(FY23)and FY09.This means that we are producing nearly

279、double the output using the same amount of energy,resulting in lower manufacturing costs and financial benefits.This has been made possible through a series of continuous interventions to reduce energy demand per unit of output.Behaviour changes,such as turning equipment off when not in use and the

280、use of energy-efficient equipment are often quick wins.Process innovations(e.g.heat recovery processes)take longer to implement but have a significant impact.Other levers such as efficient building design,the use of certain types of materials for better insulation in the case of the built environmen

281、t,and electrification and lightweighting in case of the transport sector are also effective.Actions solely within a companys operation are not sufficient,and engaging with value chain partners can help spur investment and action,ultimately magnifying impact.Platforms like the International Business

282、Council have a critical role to play in accumulating best practices,knowledge sharing and implementing clear pathways of transformation across regions and sectors.Industry players can also collaborate to create awareness,e.g.Mahindra Group and Johnson Controls partnered to launch a non-commercial cl

283、imate advocacy platform for accelerating energy-efficient built environment in India.The case for investing in energy efficiency solutions is clear.To drive maximum impact,private sector companies need to focus on three key levers:Prioritize it strategically:Focus on accelerated action,recognizing t

284、he significant opportunity cost of further delays in investing in energy efficiency.Create a governance structure:Implement a strong governance process led by senior leaders with clear ownership,disrupting the status quo of what is often considered business as usual.Develop a collaborative mindset:O

285、perationalize the value chain through effective collaboration,including awareness building,capability and technology sharing and financing,where feasible.Focus on both mindset shifts and concrete governance practices.In tandem,governments can also consider creating awareness and policy interventions

286、(e.g.guidelines for energy-efficient built infrastructure,incentives for retrofitting,etc.)to shape an enabling environment for accelerated adoption.India is leading the way in creating outcomes that can be replicated.The developing world has an opportunity to rewrite the rules and show the way to s

287、uccessfully transform energy demand an example of reverse innovation is frugal,scalable innovation originating in developed countries and then scaled across the world.In the journey towards transforming energy demand,the golden thread is one of collective effort and the cumulative impact of numerous

288、 small initiatives.Now is the moment for collective action,as we unite to pave the way for a greener,cleaner future.GUEST PERSPECTIVETransforming energy demand:perspectives from the developing worldBy Anish Shah,Group Chief Executive Officer and Managing Director,Mahindra GroupFostering Effective En

289、ergy Transition31SustainabilityThe ETI defines its sustainability dimension based on a mix of energy efficiency,decarbonization and advancements towards clean energy systems.Over the past decade,this dimension has seen a 6%growth globally(Figure 12).In 2023,total energy-related CO2 emissions increas

290、ed by 1.1%,reaching a record high of 37.4 gigatonnes(Gt).This increase contrasts with the urgent need to rapidly curb emissions to align with the climate objectives outlined in the Paris Agreement.Despite this surge,emissions increased significantly slower than growth in global GDP,which shows there

291、 is positive trend in improved carbon and energy intensity of economic growth.Over the past decade,emissions increased by slightly over 0.5%annually.This trajectory cannot be attributed solely to the COVID-19 pandemic;although emissions experienced a sharp decline in 2020,they rebounded to pre-pande

292、mic levels the following year.Furthermore,GDP growth slowdown does not account for this trend,as it has averaged 3%annually over the last decade,in line with the preceding 50 years.Adding to concerns,global temperatures exceeded the 1.5C threshold for the first time in 2024,starting in January,makin

293、g it the warmest year on record.This was driven by intensified heat from escalating ocean temperatures and the“El Nio”effect,underscoring the urgent need for decisive action to address climate change.Emissions grew slower than global GDP in2023,signalling decoupling of emissions fromeconomic growth.

294、COP28 marked the completion of the first global assessment of efforts to combat climate change under the Paris Agreement.The assessment revealed insufficient progress in various aspects across climate action,including reducing greenhouse gas emissions and enhancing resilience to climate impacts.Cons

295、equently,countries collectively agreed upon measures to accelerate the shift away from fossil fuels,with a specific target of tripling renewable energy and doubling energy efficiency by 2030.Costa Rica,Sweden and Paraguay lead the sustainability dimension charts for 2024.Countries from Sub-Saharan A

296、frica and Latin America and the Caribbean rank in the top quartiles whereas countries from the Middle East,North Africa and Pakistan region rank in the lowest quartiles on the sustainable dimension,despite their above-average performances in the equitable and secure dimensions.However,coal capacity

297、continues to grow,exhibiting 2%growth in 2023,mainly driven by China and a slowdown in phasing out in the US and Europe.Coal capacity grew for the first time outside of China since 2019.772015201620172018201920202021202220232024Index score58565460626454.254.654.954.955.055.355.857.056.657.2ETI susta

298、inable dimension trend,2015-2024FIGURE 12Source:World Economic Forum.Despite significant strides in renewable energy adoption,global emissions continue to rise.It is essential to distinguish between the growth of renewable energy and the trajectory of emissions.Notably,a modest decline in emissions

299、growth from 1.3%in 2022 to 1.1%growth in 2023 can be attributed to factors such as coal-to-gas switching,weaker industrial production in some countries and milder weather conditions,rather than the expansion of renewable energy sources alone.The global sustainability scores need toimprove further to

300、 accelerate the transition,as advancements in this dimension directly impact net-zero goals.Fostering Effective Energy Transition322015201620172018201920202021202220232024CO2 intensity,t/capitaEnergy intensity,MJ/$PPP4.24.44.64.855.25.4Score(0-100)Energy intensity and CO2 intensity trend,2015-2024FI

301、GURE 13Engaging oil and gas exporting nations to prioritize emissions reduction is crucial for effective climate action.This includes adopting cleaner energy technologies like carbon capture and storage(CCS)and methane detection methods.Leveraging existing infrastructure,oil and gas exporting countr

302、ies can advance the hydrogen economy by repurposing assets for hydrogen production and investing in hydrogen technologies powered by renewable energy or natural gas with carbon sequestration.As an example,Canadas province of British Columbia first implemented a carbon tax in 2008.By 2019,as their ca

303、rbon price went from CAD 10(Canadian dollars)to CAD 40 per tonne of CO2,carbon emissions per person decreased by 12%,twice as fast as those in the country overall.This policy recycled revenue in the form of cuts to personal and corporate income taxes,low-income tax credits and a property tax reducti

304、on for northern and rural homeowners,making it more equitable while also incentivizing emissions reduction.Encouraged by this success and the public support for British Columbias carbon pricing,the Canadian federal government followed suit in 2018,instituting a requirement for provinces to either ad

305、opt a strong climate policy of their own or accept a“backstop”federal carbon tax,known as the fuel charge.This carbon tax applies to 22 different forms of fossil fuels currently.The price basis was CAD 65 per tonne of CO2 equivalent(CO2e)in 2023 and will increase by CAD 15 per tonne each year until

306、2030 when it hits CAD 170.In 2023,renewable energy witnessed unprecedented growth,marking a record year with nearly 510 gigawatts(GW)of addedcapacity globally.This surge,which is the fastest growth rate in the past two decades,was predominantly driven by solar energy,which accounted for 75%of the ad

307、ded capacity in 2023.The largest growth occurred in China,as it alone commissioned as much solar PV capacity in 2023 as the entire world did in the previous year,while also experiencing a 66%year-on-year increase in wind additions.It is important to note that some countries experienced a slowdown in

308、 wind adoption,with some governments reducing subsides.It is critical for these companies to achieve higher levels of efficiencies to offset the reduction in subsidies.78 However,the transition of energy-intensive industries such as steel,cement,aluminium and chemicals manufacturing to clean energy

309、sources requires additional solutions beyond renewables alone.Note:t=tonnes Source:World Economic Forum.Fostering Effective Energy Transition3304812162024283236024681012141618200%10%20%30%40%50%60%70%80%90%100%Energy intensity of GDP,MJ/2017$PPP GDP37 countries hitting target,15%of TES81 countries b

310、ehind target,85%of TES2 countries n/a,1%of TESDerived 2030 target:3Carbon emissions per capita,CO2e/capita48 countries hitting target,19%of TES72 countries behind target,81%of TESDerived 2030 target:2.42Share of clean energy in energy consumption,%10 countries hitting target,3%of TES110 countries be

311、hind target,97%of TESDerived 2030 target:35%AverageAbove targetBelow targetTargetCountry density based on 2030 targets derived from IEA Net Zero 2030 scenariosFIGURE 14Note:Energy intensity of GDP,MJ/2017$PPP GDP:This indicator is obtained by dividing total primary energy supply over gross domestic

312、product measured in constant 2017 US dollars at purchasing power parity.Source:International Energy Agency;International Renewable Energy Agency.Energy efficiency can help save costs,reduce emissions,and improve energy security.A 2024 World Economic Forum report,Transforming Energy Demand,shows a$2

313、trillion annual economic savings potential and 31%energy efficiency gain that can be unlocked by 2030 in industry,transport and buildings through business action,enabling policies and public private partnerships.Further,the pivotal role of electrification cannot be underestimated both to achieve eff

314、iciency gains and reduce carbon intensity of energy production.According to the IEA,investments in energy efficiency technologies increased by 16%to$600 billion in 2022,which is a record high.79 This includes growth in electrification,end-use renewables and efficient buildings.Recent trends,such as

315、the decline in EV80 adoption juxtaposed with the rise in heat pump installations in the EU,underscore this point.Electrification,especially in sectors like transport and heating,holds potential to improve energy efficiency and reduce greenhouse gas emissions.Therefore,integrating discussions on elec

316、trification alongside energy efficiency efforts is imperative to maximize climate mitigation impact.By recognizing the complementary nature of these strategies,policymakers and stakeholders can develop more holistic approaches to advance sustainable energy transitions and combat climate change effec

317、tively.For example,Norway offers incentives such as tax exemptions,toll discounts and free parking for EV owners,leading to a rapid increase in EV adoption and contributing to the countrys goal of achieving net-zero emissions by 2030.Addressing the challenge of rising emissions necessitates a compre

318、hensive approach that considers the complexities of the entire energy system and seeks to transition towards a sustainable,low-carbon future.30354045505560652015201620172018201920202021202220232024Regulations and political commitmentEducation and human capitalInnovationInfrastructureFinance and inve

319、stmentScore(0-100)Fostering Effective Energy Transition343.2 Transition readinessThe ETIs transition readiness sub-index is rooted in various factors,including the stability of the policy environment,the level of political commitment,the investment climate,access to capital,consumer engagement,and t

320、he development and adoption of new technologies.These elements collectively shape a countrys ability to steer its energy transition effectively.While some factors,such as skills or the quality of transport infrastructure,extend beyond the energy system,they significantly influence the trajectory and

321、 success of the energy transition and are explicitly acknowledged as part of the sub-index.81 Over the past decade,transition readiness has shown a positive trend,marked by notable advancements and strong year-on-year growth in key enablers such as regulation and political commitment,infrastructure,

322、and education and human capital(Figure 15).In 2024,South Korea,Japan and China emerge,alongside leading advanced European economies,among the top 20 countries exhibiting the most enabling environment for the energy transition,while the Democratic Republic of the Congo,Venezuela,Yemen and Bangladesh

323、rank in the lowest quartile.ETI transition readiness trend,2015-2024FIGURE 15Source:World Economic Forum.Tangible progress is evident in enhancing transition readiness,particularly in regulation and political commitment,education and human capital,and infrastructure.Regulation and political commitme

324、nt,which is one of the direct enablers for the energy transition,has seen a notable increase,with two consecutive years of over 3%year-on-year growth in scores.Driven primarily by carbon pricing mechanisms and country commitments,the growth in this dimension underscores the impact of recent global p

325、olicy focus on accelerating the energy transition.In 2024,Luxembourg,Denmark and Switzerland emerge as top performers in this regard.Additionally,South Korea and Canada along with a cohort of leading advanced European economies,demonstrate a strong enabling regulatory environment to accelerate the e

326、nergy transition.Canada is committed to achieving net-zero emissions by implementing measures to cap and reduce emissions from the oil and gas sector by 2030.The Canadian government also introduced five investment tax credits to encourage capital investments supporting the energy transition.82 Educa

327、tion and human capital have also experienced rapid growth over the years,particularly as the number of jobs in low-carbon industries surged.Clean energy jobs accounted for around 50%of total jobs in the energy sector in 2023.83 As the global energy transition gains momentum,significant shifts are ex

328、pected in the jobs landscape.While most regions saw growth in clean energy jobs over the past three years,the Middle East,North Africa and Pakistan and emerging and developing Asia stand out as exceptions.Furthermore,China,currently housing the largest energy workforce globally,witnessed significant

329、 changes between 2019 and 2022.During this period,clean energy jobs in China increased by 2 million,while fossil fuel-related jobs decreased by 600,000.Today,60%of the countrys energy workforce is employed in clean sectors,largely attributed to the significant build-out of clean tech manufacturing,w

330、hich has been a major driver of employment growth.84 The USs IRA has sparked an investment and manufacturing boom that is driving long-term economic growth across the country and creating jobs in underserved communities.Companies have committed over$242 billion in new investments to build the clean

331、Fostering Effective Energy Transition35 Despite the higher growth rates and energy supply deficits prevalent in many parts of the emerging and developing nations,investment tends to be heavily concentrated in some advanced economies.energy economy,including EVs,batteries and energy storage,clean ene

332、rgy manufacturing,and clean power generation,among others.85 As of September 2023,more than 211,350 new clean energy jobs were created,86 with projections indicating approximately 1.5 million jobsover the coming decade.87Renewable energy infrastructure has also witnessed growth.Globally,countries ha

333、ve added to their renewable capacities,driven by the widespread availability and maturity of renewable technologies.Notably,Brazil and Chile emerge as top performers in 2024,ranking among the top 20 countries in this regard,alongside leading advanced European economies.Brazil,known globally for having one of the cleanest electricity mixes,has seen continuous expansion in its renewable energy indus