The results of the Energy Transition Index 2019 establish the need for speed in energy transition. Given the scale and complexity of the challenge and the urgency of collective action, it is not a trivial task. Energy transition is not restricted to shifts in the fuel mix or dominant technologies used in energy extraction, conversion or consumption. A fundamental transformation in the way the world harnesses and consumes energy has far reaching economic, technological and political implications across multiple systems. Accelerating energy transition will require coordinated efforts that address the interconnections of the energy system with different elements of the economy and society.
Analysis of peer‑economy groups highlights the differences in strengths and priorities for energy transition across countries. Multiple pathways, driven by country‑specific circumstances, can lead to a future energy system that is secure, sustainable, affordable and inclusive. Leveraging the potential of the Fourth Industrial Revolution and enhanced public‑private collaboration will be critical to these efforts.
Through this effort, the World Economic Forum intends to increase the transparency on energy transition. The Energy Transition Index offers a fact‑based framework that can help decision‑makers in prioritizing measures for an effective energy transition in their countries. Making fast progress on energy transition requires common understanding among all stakeholder groups in a given country, and a long‑term roadmap that identifies the vision, destination and major milestones for energy transition. Figure 17 offers a framework for pursuing long‑term energy transition roadmaps through multistakeholder collaboration.
Figure 17: Seven‑step framework for effective energy transition
Source: World Economic Forum. Fostering Effective Energy Transition: A Fact‑Based Framework to Support Decision‑Making, 2018