Singapore leads Asian countries in Energy Transition Index 2021

by BERNAMA / pic by BLOOMBERG

SINGAPORE – The World Economic Forum (WEF) has placed Singapore at first position among Asian countries in its Energy Transition Index (ETI) 2021, reported Vietnam News Agency (VNA).

Globally, the Southeast Asian country ranks 21st among 115 countries, higher than major economies like the US and Canada.

WEF’s ETI reflects the progress towards a more inclusive, sustainable, affordable and secure energy system. It assesses countries’ readiness to energy transition and the current performance of energy systems across the three dimensions of the energy triangle: economic development and growth, environmental sustainability, and energy security and access indicators.

This year, northern European countries like Sweden, Norway and Denmark maintained their leading positions on the ETI.

The ETI report showed that 92 economies made progress over the period between 2012 and 2021.

However, only 68 have improved their scores by more than two percentage points.

Large emerging centres of demand such as China and India have seen strong improvements. Meanwhile, scores in Brazil, Canada, Malaysia, Singapore and Turkey held relatively stable.

Singapore still plays a significant role in the global energy system, as a major refining hub and emerging centre of global LNG trade.

The CO2 intensity has remained broadly flat since 2010, suggesting continued dependence on high-carbon energy sources and inertia from legacy energy infrastructure, it added.