Saturday November 26, 2022

Pakistan at bottom among countries striving for secure energy future

December 22, 2021
Pakistan at bottom among countries striving for secure energy future

LAHORE: At a juncture when most countries on the world map are sharing their experiences on auspicious global platforms to find ways and facilitate the process of shifting from fossil-based systems like oil, natural gas and coal to renewable sources like wind, solar and lithium-ion batteries etc, the incumbent Pakistani regime in Islamabad is hell-bent upon blaming its political foes for energy shortages, soaring electricity tariffs and the surging circular debt.

According to the Geneva-based World Economic Forum, the increasing penetration of renewable energy into the energy supply mix, the onset of electrification and improvements in energy storage are all key drivers of the energy transition.

The key findings from the World Economic Forum’s Energy Transition Index 2021 reveal that Pakistan is ranked 104th among 115 nations striving for energy transition in a bid to ensure a secure, sustainable, affordable, and reliable energy future amid the crises generated by the COVID-19 pandemic.

Denmark, Finland and the United Kingdom are among the top 10 countries that are improving their energy system performance and sustainability outcomes by putting in place stable regulatory environments, diversified energy mix and cost-reflective energy pricing methodologies.

Moreover, countries with rising energy demand, such as China, India and Sub-Saharan African nations, have registered the largest gains but their scores on the latest Energy Transition Index remain low in absolute terms.

India rests at 87th position, while China occupies the 68th position. Here follows a list of 50 top-ranking nations in this context: Sweden, Norway, Denmark, Switzerland, Austria, Finland, United Kingdom, New Zealand, France, Iceland, Netherlands, Latvia, Uruguay, Ireland, Lithuania, Estonia, Spain, Germany, Portugal, Belgium, Singapore, Canada, Croatia, United States, Albania, Costa Rica, Italy, Israel, Colombia, Brazil, Slovenia, Hungary, Georgia, Chile, Australia, Paraguay, Japan, Romania, Malaysia, Luxembourg, Malta, Peru, Slovak Republic, Azerbaijan, Czech Republic, Mexico, Argentina, Ecuador, Korea and Panama.

Here follows some more salient features of the 50-year-old World Economic Forum’s Energy Transition Index 2021: “The scaling of nascent technologies and an increased focus on climate change has fixed global attention firmly on the decarbonisation of energy systems.

This journey is far from over. As of 2018, 81% of the world’s energy was still supplied by fossil fuels, the global greenhouse gas emissions rose through 2019 and more than 770 million people around the world still lack access to electricity”.