Oman ranked 5th in Energy Transition Index in MENAP
Oman is placed fifth in the Middle East North Africa and Pakistan (MENAP) region for effective energy transition, according to the World Economic Forum’s (WEF) Energy Transition Index (ETI) 2021 released on Wednesday.
As countries continue their progress in transitioning to clean energy, it is critical to root the transition in economic, political and social practices to ensure progress is irreversible, stated the WEF’s Fostering Effective Energy Transition 2021 report attached to the index.
In MENAP, Qatar leads at 53rd overall rank, followed by UAE (64), Morocco (66), Jordan (72), Oman (74), Saudi Arabia (81), Kuwait (102) and Bahrain (108) among others.
In its tenth edition, the report, published in collaboration with Accenture, draws on insights from the ETI 2021. The index benchmarks 115 countries on the current performance of their energy systems across three dimensions of the energy triangle: Economic development and growth, environmental sustainability, and energy security and access indicators - and their readiness to transition to secure, sustainable, affordable and inclusive energy systems. This year’s report uses a revised ETI methodology, which takes into account recent changes in the global energy landscape and the increasing urgency of climate change action. The index finds that while 92 of the countries increased their score over the past ten years, only ten per cent of countries were able to make consistent gains, showing the need for renewed focus and resilience to meet the climate goals of the next decade.
“As we enter into the decade of action and delivery on climate change, the focus must also encompass speed and resilience of the transition. With the energy transition moving beyond the low hanging fruit, sustained incremental progress will be more challenging due to the evolving landscape of risks to the energy transition,” said Roberto Bocca, head of Energy and Materials at WEF.
The top ten countries on the ETI 2021 are western and northern European countries. Sweden leads the ETI for the fourth consecutive year, followed by Norway, Denmark, Switzerland, Austria, Finland, United Kingdom, New Zealand, France and Iceland. All top ten economies have made strong improvements in environmental sustainability, specifically in decreasing the carbon intensity of their energy mix, supported by strong political commitment and investments in the energy transition. The results for 2021 show that 92 out of 115 countries tracked on the ETI increased their aggregate score over the past ten years.