Abstract:

After a decade of progress, the global energy transition has plateaued amid the global energy crisis and geopolitical volatilities, according to the World Economic Forum's Fostering Effective Energy Transition 2023 report. The Energy Transition Index, which benchmarks 120 countries on their current energy system performance and on the readiness of their enabling environment, finds that while there has been broad progress on clean, sustainable energy, there are emerging challenges to the equity of the transition – just, affordable access to energy and sustained economic development – due to countries shifting their focus to energy security.