Business World

PHILIPPINE­S SLIPS IN CLEAN ENERGY TRANSITION READINESS LIST

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The Energy Transition index (ETI), released by the World Economic Forum, looks at how well economies balance energy security and access with environmen­tal sustainabi­lity and affordabil­ity. The report noted countries that scored high in the index are those that tend to have low levels of fossil fuel subsidies, enhanced energy security from a diversity of fuel mix and import partners, improving carbon intensity, reduced dependence on fossil fuels, and a strong regulatory environmen­t that would drive energy transition towards a “secure, sustainabl­e, affordable, and reliable energy future.” Released on April 20, the 2021 edition of the index showed the Philippine­s scoring 56.75% from 57.72% in 2020 on a 0-100% scale. This brought the country’s ranking down by six spots to 67th place out of 115 economies from 61st the year before. Among 13 economies in “Emerging and Developing Asia,” the Philippine­s placed fourth — moving down from third place previously.

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