The Virus And The Global Energy Transition

COVID-19 has tested governments around the world – here's what that means for the energy transition

Morgan Bazilian and David Victor, 13 May 2020 (World Economic Forum)

“…It is more critical than ever to look at countries’ readiness for the energy transition…There are many paths to low-carbon energy systems, and many ongoing energy transitions…[But] there are certain principles for policy design and implementation that can guide countries… [The World Economic Forum Energy Transition Index (ETI)] benchmarks countries both on their current energy system performance as well as their energy transition readiness…[The challenges are] less as matters of technological optimisation, and more as tests of institutional skill and political commitment…A key finding of the new report, Fostering Effective Energy Transition 2020, is about the pace and steadiness of change…

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[Of 115 countries], only 14 have made consistent and measurable progress on their energy transition over the past six years…ETI’s energy transition readiness index – the future-looking measurement ¬– generally improved across most countries last year…[The priorities for policymakers and investors have] shifted, at least in the short term. How or when they will be able to refocus on energy transitions remains unclear…[C]urrent dislocations are highly likely to be further compounded by things like extreme weather events – creating a perfect storm of compounded disruptions, touching every corner of the planet…The framework for optimizing systems in planning or through policy has likely changed permanently…” click here for more

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