Overcoming Uncertainties Complicating The Energy Transition
Is the world where it needs to be as it moves to a sustainable energy future? Answers can be found within the Forum’s Fostering Effective Energy Transition 2024 report. The paper benchmarks energy system performance and readiness through its Energy Transition Index (ETI).
Scores on this index – which allows decision-makers to track countries’ progress – have reached record highs and most nations are progressing in the energy transition.
But alongside, the pace of progress has slowed, partly because of uncertainties in the global landscape, including the pandemic, extreme weather events and conflict across the world. The report says that while sustainability is showing a gradual improvement, energy security continues to be tested and energy equity has gone backwards.
With investment uneven across regions, the report says that international support and new approaches, tailored to country-specific requirements, are needed to close a widening transition financing gap and direct enough funding to emerging and developing economies.
The first few years of this decade have been a volatile period in the energy transition.
