Saudi Gazette report
RIYADH — Saudi Arabia has jumped five places in the global Energy Transition Index (ETI) for the year 2021, according to the World Economic Forum's Fostering Effective Energy Transition 2021 report published on Wednesday.
According to the report, that the Kingdom now ranks 81st globally, as it witnessed very positive performance throughout the past 10 years in many of the report’s indices. The progress reflected the Kingdom’s readiness to speed up the transition to clean energy.
The report covered the performance of 115 economies in terms of their energy systems through three dimensions for the Energy Triangle: economic development, growth and environmental sustainability; energy security, access, and accessibility indicators; and the degree of readiness to transition to safe, sustainable, affordable and inclusive energy systems
According to the report, progress is evident in Saudi performance in political organization and commitment and institutional governance. The report further said that progress reflects clearly on selected indices, like economic growth and development, supported by the comparatively high level of fuel subsidization.
According to the WEF report, “Saudi Arabia is leading its neighbors in the field of accessibility to energy, security, and institutional governance.”
“There are many opportunities, which will help Saudi Arabia reach a more positive transition, and a greener and more sustainable transformation in the environmental sustainability dimension, especially in reducing the density of energy, decreasing the density of carbon in the energy blend via measures like expansion in the renewable energy resources, electricity, and using carbon absorption technologies,” the report added
The report stressed that the transition to clean energy must be consolidated and included in economic, political and social practices to guarantee sustainable development.
