In collaborationWORLDwith AccentureECONOMICFORUMFostering EffectiveEnergy TransitionINSIGHT REPORTJUNE 2024Images:Getty ImagesContentsForeword3Executive summary4Introduction51 Framework82 Overall results112.1 Transition scores132.2 Transition momentum162.3 A lookback on COVID-19 impacts183 Sub-index and dimension trends213.1 System performance223.2 Transition readiness344 Tailored transition pathways374.1 Regional insights384.2 Income-level insights404.3 Local energy resources insights405 Looking ahead:top 10 actions42Appendices44A1 Methodology and indicators44A2 Country group performance profiles45Contributors53Endnotes54DisclaimerWorld Economic Forum as a contributionto a project,insight area or interaction.The findings,interpretations andendorsed by the World Eoonomic ForumForum,nor the entirety of its Members,reserved.No part of this pubication maybe reproduced or transmitted in any formFostering Effective Energy Transition2June 2024ForewordMuqsit Ashrafand Materials;Memberof the Executive CommitteeWorld Economic ForumThe speed and trajectory of the global energyCountries are ramping up efforts to enhance transitiontransition are now more important than ever.It isreadiness,including human capital development,critical for both policy-makers and businesses towhere clean jobs represent more than half of allbalance the three energy system priorities of equityenergy-related jobs.Clean energy infrastructuresecurity and sustainability.It is also clear that thereinvestments have also been increasing,reaching $1.8is no single universal answer for all countries.Thetrillion in 2023,but almost 90%of the growth sinceFostering Effective Energy Transition report,now2021 has been in advanced economies and China,in its 14th edition,benchmarks energy systemhighlighting wide gaps in transition momentum.performance and readiness for the transitionthrough the Energy Transition Index(ETI)andDigital innovations,including generative artificialprovides insights across nations.for energy companies,enabling them to generateIn the past decade,the sustainability dimension ofover $500 billion in savings annually.2 This canenergy system performance has improved with aenhance equity and security by enabling additionalshift to renewables and the integration of electriccapital investment or reducing energy supply costsvehicles into mainstream use.However,progressNevertheless,as these technologies advance,thehas been uneven globally.Aside from increasedelectricity needed for their computational demandsadoption of wind and solar,it has not kept pacewill increase and must be managed carefullywith the trajectory needed to reach net zero bythrough the adoption of more efficient Al models2050,particularly regarding energy efficiency gains,and clean energy sources.system electrification and adoption of low-carbonenergy sources and fuels.In a significant stepWhile ET scores have reached record highsforward,recent decisions at the 28th Conferenceand shown notable improvements across variousof the Parties(COP28)aim to double energydimensions,the pace of progress has slowed,efficiency and triple renewable energy capacity bypartly due to growing uncertainties in the global2030,and transition away from fossil fuels in a justlandscape.The ET provides decision-makersand equitable manner.with a comprehensive assessment of globalenergy systems and trends over time.This year'sEquity-focused policies and decisions are gainingedition maintains consistency with last year'sprominence.However,investments in developingmethodology,enabling stakeholders to makenations remain insufficient,and challenges persistcomparisons and track developments.The 2024within and across countries,especially in energyaffordability and access.Meanwhile,energy securitynew perspectives on country pathways and globalrisks need to be managed effectively amid risingcollaboration.These pathways allow decision-geopolitical tensions.ETI data shows that whilemakers to consider country-specific dimensions,countries have managed to address security shockssuch as income level,local energy resourcesin recent years,this comes at the expense of equityand region,to maximize impact and advanceand sustainability.the energy transition.Fostering Effective Energy TransitionExecutive summaryIn a dynamic global landscape,mostcountries are progressing in the energytransition,with the centre of gravity movingtowards developing nations.Growing uncertainties are impeding12%reduction in energy intensity in 2022 comparedenergy transition momentum despite recordto 2021.Six G20 countries also feature amongEnergy Transition Index scores.Global averagethe top 20 performers on this year's ETl:France,Energy Transition Index(ET)scores reached theirGermany,Brazil,China,the United Kingdom andhighest levels,with 107 out of 120 countriesthe United States.In 2023,China commissioned asmaking progress over the past decade.However,much solar photovoltaic (PV)as the entire world inthe global landscape is marked by economic2022,while its wind additions also grew by 66%year-volatility,heightened geopolitical tensions,andon-year.5 Brazil's long-term plan for hydropower andtechnological shifts.This uncertainty is reflected inbiofuels,along with institution-building initiatives,havethe ETI,where the rate of improvement over thebeen key in attracting investments.Estonia,Ethiopiapast three years has decreased.and Lebanon have seen the fastest improvementsin the past five years,prioritizing off-grid renewableEnergy security continues to be tested,energyenergy to enhance access and sustainability.equity has gone into reverse and sustainabilityshows a gradual improvement over the past threeyears.Geopolitical tensions continue to test energyspecific requirements,must be reinforced to directsecurity,yet there are positive signs that countriessufficient financing to emerging and developingare successfully mitigating most risks.Equity haseconomies.The widening gap in transition financingfaced a setback in the past three years driven bybetween advanced and developing economiesincreased energy prices and fossil fuel subsidies.necessitates increased international support andSustainability has shown progress,mainly due tonew approaches to unlock investments.Tailoringimproved energy efficiency and increased sharesupport based on factors like region,income levelof clean energy,despite energy-related emissionsand local energy resources can underpin customizedgrowing by 1.1%in 2023.Transition readiness hasenergy transition pathways.Sub-Saharan Africaprogressed significantly,driven by regulations andshows the strongest growth in ETI scores,drivenpolitical commitment,education and human capitalby improvement in energy access and affordabilityand infrastructure.While innovation growth hasPrioritizing these areas with international supportslowed,countries like China and India are leading incan help sustain progress.Moreover,countries withdeveloping new energy solutions and technologies.abundant local energy resources are top perfomers inequity and security while being the worst performersAdvanced economies,along with China andin sustainability,emphasizing the need to balanceBrazil continue to be top performers,togetherthe transition.with several developing nations that are forgingpathways for progress.Sweden,Denmark,Decision-makers across the globe must actFinland and Switzerland lead the rankings,withdecisively and collaboratively to accelerate theFrance entering the top five performers due to itstransition towards an equitable,secure andeffective energy efficiency policies,resulting in asustainable energy future.Fostering Effective Energy TransitionIntroductionGrowing uncertainties complicate theenergy transition trajectory,underscoringthe need for adaptive and decisive action.$1.8Recent years have witnessed an increase in globalreturns for developers,deterring much-neededuncertainties,driven by economic,political andinvestments in projects.The cancellation of majortechnological shifts,adding complexity to theoffshore wind projects in the United States (US)environment in which countries operate and theirresulted in a temporary slowdown in the windtrillionenergy transition trajectory (Figure 1).industry.10 In parallel,global coal demand saw a1.4%increase in 2023.However,despite theseinvested in the cleanGeopolitical tensions pose risks to energy securitysetbacks,global additions to renewable energyenergy transition in 2023and hinder international cooperation.Ongoingcapacity surged by 50%compared to 2022.11 Thisconflicts in the Middle East risk exacerbatinguptick was partly due to supportive policies suchvolatility in oil markets,potentially resulting in an oilas the revision of the European Commission'sprice spike.Despite a moderation in energy pricesRenewable Energy Directive which introduced"fast-regional disparities persist,constraining economictracking"of permitting procedures to accelerategrowth,imposing financial burdens on householdsthe deployment of renewables and grids.Fallingand businesses,and hindering efforts to enhanceprices for renewables and rising electricity priceselectricity access.5 This situation could have beenfrom fossil fuels further boosted the financialmuch worse if not for the mild weather conditionsattractiveness of renewable energy.12globally.However,there have been instances ofaccelerated change,notably in Europe,whereTrade patterns in the energy sector have shiftedthere has been a rapid reduction in dependence onsignificantly as governments focus on enhancingRussian natural gas and significant improvementssupply chain resilience and strengthening energyin energy efficiency.Global investments in efficiencysecurity.This shift has coincided with acceleratedincreased by 45%since 2020,with countriesmomentum towards cleaner energy sources,representing three-quarters of global energyincluding the rapid expansion of renewable powerdemand strengthening energy efficiency policiescapacity and increased adoption of technologiesor implementing new ones in the past year.?such as electric vehicles (EVs)and heat pumps,driven partly by supportive government policies.13The disruptions caused by the COVID-19 pandemicDespite these positive trends,growing tradeand the Russia-Ukraine war led to a global energyprotectionism and costs create headwinds,crisis and a surge in inflation and interest ratesespecially for developing nations.United Nationsduring 2022 and 2023.This created a cost-of-Conference on Trade and Development (UNCTAD)living crisis in many countries,raising concernsdata indicates a $1 trillion contraction in globalacross industries and economies,especially thosetrade in 2023,largely due to reduced demand inin developing countries with dollar-denominateddeveloped countries and decreased trade withindebt and imports.Headline inflation has sinceslowed down due to tighter monetary policy inhave continued to impact bilateral trade flows,G7 nations,with the International Monetary Fundevidenced by shifts such as the European Union(IMF)projecting a rate of 5.8%for 2024(down from(EU)reducing its trade dependence on Russia and6.9%and 8.7%in 2023 and 2022,respectively).decreasing trade interdependence between ChinaHowever,persistently high interest rates and capitaland the US.However,certain industries,such ascosts remain significant obstacles in the energymotor vehicles,saw growth in trade value,driventransition,particularly for emerging and developingby growing demand for EVs.This,coupled with aneconomies.This directly impacts the ability of firmsimproved global economic outlook,could bolsterand countries to finance the upfront investmentstrade resilience in the coming year.Uncertaintiesremain regarding geopolitical tensions and potentialenergy system.Despite lower operational costs,future disruptions to global supply chains,capital-intensive clean energy solutions remaindisproportionately affected due to high upfrontcapital investment requirements.significant volatility.A Crunchbase article states thatIn 2023,clean energy sources faced challenges,including uncertainties in subsidies and supplyto $285 billion,marking a 38%decline year overchains,coupled with high interest rates andyear from the $462 billion invested in 2022".17These challenges prompted cost-cutting measures,Fostering Effective Energy Transition5a focus on profitability and a rise in tech layoffsshould prioritize utility-scale solar and wind projectsInvestors responded by exercising greater caution,enhancing electricity networks,and spending ondeploying capital more selectively and raisingenergy-efficient building designs and appliances.4standards for investment at each stage.Despiteoverall downtums,BloombergNEF found that"globalKey energy targets were announced at 28thinvestments in the energy transition hit a record $1.8Conference of the Parties(COP28).These includetrillion in 2023,climbing 17%from a year earlier".the Global Renewables and Energy EfficiencyMost of this investment was in electrified transport,Pledge",which calls for tripling the rate of renewableswith China as the largest market,accounting for overcapacity and doubling the rate of energy efficiencyone-third of the total investment,followed by Europeby 2030.Another goal is to transition away fromand the US.1 The artificial intelligence (Al)sector wasfossil fuels in energy systems in a just,orderly andone of the few that saw growth,with global fundingequitable manner,to achieve net zero by 2050to start-ups reaching nearly $50 billion.20 While Al andand limit global warming to 1.5C.2 These targetsgenerative Al integration require substantial adaptationprovide additional clarity on the direction of the energyand investment,it also offers opportunities and valuetransition journey,despite uncertain implementationfor industry(estimated at $0.3-0.5 trillion annually)pathways.Achieving these targets requires refommsand the energy transition.Yet,increased uptake ofand investments in the energy system.Whilegenerative Al may lead to a rapid surge in demandgovernments have initiated targeted measures,moreand power consumption from data centres,creatingdecisive action is needed.The importance of tailoredcompetition for available electric power and requiringpolicy approaches aligned with local priorities andadditional capacity increases,which must bechallenges is increasingly evident.These pathwaysbalanced by gaps in innovation and opportunity.can accelerate the transition by directing resourcesto areas with the greatest impact,thereby facilitatingWhile global clean energy investment has surgeda smoother and more effective transition process.by 40%since 2020,this recent growth has primarilybeen concentrated in advanced economies andIn a landscape marked by complexities andChina.In contrast,other emerging and developinguncertainties,the path forward remains clear:economies received less than 15%of the totalnow is the time for all stakeholders across thevalue chain,spanning supply,demand andworld's population and generating about a thirddistribution,and including both public andof global gross domestic product(GDP).22 Thisprivate sectors,to take decisive action.Thisdisparity highlights a concerning trend in financingmeans ramping up efforts to transform theirthe energy transition in emerging and developingenergy systems by implementing innovativeeconomies.To align with efforts to limit globalsolutions,mobilizing investment and driving boldwarming to 1.5C,"clean energy investment inpolicy reforms.By harnessing the momentumthese economies outside China must increaseof the energy transition,stakeholders can chartmore than sixfold,from $270 billion currently tothe course towards an equitable,secure andsustainable energy future.Fostering Effective Energy TransitionFIGURE1Volatile period in the energy transition,2020-20232020202120222023Russia-Ukraine warCOMD-19lsrad-Gaza war@!nd、ndhCost-cutingdandpowerFostering Effective Energy Transition7FrameworkThe ETI 2024 framework offers a comprehensiveassessment of countries'energy systems witha consistent methodology,allowing decision-makers to compare and track progress.Fostering Effective Energy Transition 8Decision-makers are confronted with two criticalenergy system performance on equity,sustainability,questions in the energy transition:what is neededand security and readiness of the enablingto accelerate improvements in countries'energyenvironment on policies and regulatory framework,systems,and how can the right conditions beinfrastructure,innovation,education and humanestablished to capitalize on opportunities arisingfrom the transition?Addressing these questionsnecessitates a transparent fact base to helpA county's final ET score is a composite of its scoresdecision-makers understand and navigate theon the two sub-indices of system performancecomplexities inherent in the energy transition.and transition readiness,weighted at 60%and40%,respectively.System performance is equallyThe Energy Transition Index (ETI),which is anweighted across equity,security and sustainabilityevolution of 14 years of country-level energy systemTransition readiness is split into two groups:corebenchmarking,provides a data-driven frameworkenablers and enabling factors.Core enablers includeto foster understanding of the performance andregulations and political commitment,and financereadiness of global energy systems for the transition.and investment.Enabling factors include innovation,The ETI covers 120 countries in temms of their currentinfrastructure,and education and human capital.FIGURE 2Energy Transition Index framework▲System performanceRegulations andCore enablerspolitical commitmentInnovationEquitableFinance andinvestmentSecureSustainableInfrastructureEducation andhuman capitalFostering Effective Energy TransitionThe assessment of a country's energy systemA country's progress in energy transition is determinedperformance revolves around three imperatives:by its transition readiness-i.e.the extent to whichEquity:Ensuring fair distribution,accessibilityand affordability of energy for all,along withand regulatory framework and the ability to attractshared efforts and benefits from sustainability,and deploy capital on a large scale.An investmentto foster equitable economic growth and anclimate characterized by a low cost of capital,domestic market liquidity and capital availabilityand attractiveness to foreign direct investment isSecurity:Ensuring supply security throughvital for financing the energy transition.Key factorsdiversification across three levers-in thelike a skilled workforce,innovation and robustenergy mix,energy trade partners and sourcesinfrastructure are also integral to this framework.of electricity generation.Resilience,both ingas supplies and the power system,is alsoCountries are scored across 46 indicators(Appendixinstrumental for energy security,in additionA1)covering the most important aspects acrossto the reliability of the grid,especially as thethese dimensions of the energy transition.The ETlnumber and range of power generation andadopts a minimum-maximum method to normalizeindicator scores on a scale from O to 100,where aof decentralizationscore of 100 signifies the highest global performanceSustainability:Incorporating demand-andas commodity market fluctuations,geopolitics,supply-side metrics to reduce carbon dioxideinternational climate change action and financial(CO)and methane intensity in energy supplymarket conditions may impact certain dimensions of aenhancing energy efficiency,promotingcountry's score.Therefore,it is important to interpretresponsible consumption through lower energycountry rankings within the context of each country'sand emissions footprint per capita,and increasingunique circumstances rather than viewing them asthe share of clean energy in final demand.a definitive measure of energy transition progressFostering Effective Energy Transition 102)Overall resultsMost countries are making progress in theenergy transition,with Northern Europeannations leading,and China and Brazil showingstrong improvement.Keyhighlights123Global average ETI scoresThe top 10 countries account forOnly 17%of countries inincreased by 6%since 2015only 1%of energy-related CO.2024 balanced the progressemissions,3%of total energythe past three years.supply,3%of energy demandtriangle.4Balanced is defined as when allOnly 28%of countries showedOverall,53 countries havethree sub-indices scores-equitablestrong improvement in thesecure and sustainable-are makingmade steady progress indimension with the lowest score.positive progress simultaneously.the past decade.signalling progress towards amore balanced system.Fostering Effective Energy Transition 11TABLE 1ETI score2024ETI score2024Rank Country2015-2024)）Rank Country(2015-2024)ETI score ('24)('24)1Sweden0●78.479.476.8●55.664.941.82Denmark75.272.080.1Oman55.558.950.374.570.780.163India55.363.642.873.476.269.164Singapore55.054.156.56France●71.174.765.665Morocco54.960.546.5Norway●69.975.262.066Bolivia●54.868.134.7●68.071.862.267Montenegro54.659.946.6Austria67.968.567.06854.562.043.3Estonia67.873.759.069Sri Lanka54.264.439.010●66.762.772.770Kenya53.663.838.411●66.565.068.77153.665.236.11265.769.959.472Lao PDR●53.554.052.913United Kingdom●65.666.364.673Jordan53.557.747.114Portugal●65.467.062.974Ecuador53.267.531.815●65.270.158.075Egypt,Arab Rep53.064.336.016Spain●64.364.763.776Ukraine52.962.638.3China●64.166.660.377Cambodia52.961.639.918Luxembourg●64.164.164.178Serbia●52.961.140.519United States64.067.359.079Armenia●52.760.940.520Chile63.967.958.0Kyrgyz Republic52.761.739.32163.870.454.0Macedonia,FYR52.659.542.3Australa●63.763.264.4Argentina52.664.934.323Korea,Rep.63.562.465.283●52.565.133.52463.264.760.984South Africa52.458.044.025New Zealand62.868.354.5Lebanon52.056.944.626Japan●62.463.161.486Angola52.067.628.727Canada62.465.557.887●51.759.539.928Hungary●62.168.552.451.555.345.829●61.968.252.5Tunisia●51.357.142.630Costa Rica61.372.145.090Cote d'lvoire●51.259.239.131Poland●61.366.054.291●50.965.129.7●61.065.654.29250.962.134.1Uruguay60.869.048.593Zambia50.955.643.7●60.861.659.694Guatemala50.863.731.435Colombia●60.765.753.39550.467.624.73660.666.951.2●50.358.438.237●60.558963.197Dominican Republic50.156840.23860.368.847.69850.157.339.339Croatia●60.166.450.799Trinidad and Tobago49.757.238.640Malaysia●60.169.845.6100Nepal49.657.837.341●59.762.755.2101Cameroon49.261.830.242Paraguay59.670.143.9102●49.059.433.3430●59.465.051.0103Bahrain48.855.438.844Czech Republic●59.267.347.2104Kuwait●48.654.140.34558.760.456.2105 Philippines●48.459.132.446●58.470.640.0106 Honduras●48.359.331.947Peru58.371.039.3107Republic of Moldova●48.155.337.248 Romania58.369.042.2108●46.959.428.249Slovak Republic57.564.646.9109Bangladesh●46.860.825.650Qatar57.360.153.1110Jamaica46.650.341.151Panama57.166.443.2111Senegal46.653.336.552United Arab Emirates57.062.448.8112Z babwe●46.350.739.75356.867.241.2113Pakistan46.255.232.554Indonesia56.769.936.9114Nicaragua●46.057.728.655Cyprus56.661.349.6115Botswana45.654.332.756.363.745.1116Mongolia●45.455.330.556.368.737.6117Mozambique●45.357.027.855.962.845.4118Tanzania●44.349.736.159Turkey55.862.745.5119Yemen,Rep43.855.126.86055.863.244.6120Congo,Dem.Rep.●42.053.724.43040506070Emerging and developing EuropeMiddle East,North Africa and Pakistan●Advanced economiesETI score20150●2024●Sub-Saharan AfricaEmerging and developing Asia----2024 gbbal average (56.5)ess 2024 Note:The average soore for 2024 is 56.5.Fostering Effective Energy Transition 122.1 Transition scoresThis year saw the highest global average scores inOver the past decade,the list of top performers inthe history of the ET,with modest improvementsthe ET has remained relatively unchanged;althoughin system performance of about 0.2%and strongcountries such as China,Brazil and Chile haveprogress in transition readiness,with a growth ofentered the top 20 performers owing to their energy2%.The top 10 ranked countries in the ETl aretransition efforts over several years.Despite eachcountry adopting a unique energy transition pathwaythey share common characteristics,including:1%of energy-related CO emissions,3%of totalenergy supply and represent 2%of the globalEnhanced energy security through diversepopulation.Sweden leads the rankings,followedenergy and electricity mixes,as well as a mixby Denmark and Finland.Norway,however,hasof import partnersseen a drop in its ETI rank for the first time inImproved energy and carbon intensitymany years,due to increasing electricity pricesand decline in renewable capacity buildout.Increased share of clean energy in the fuel mixA carbon pricing mechanismNotably,six G20 economies feature in the ETI top20,including France,Germany,Brazil,China,the UKStrong and supportive regulatory environmentsand the US.Over the past year,infrastructure andto drive the energy transitionregulatory commitment have experienced the mostFrom 2015 to 2024,the global average scoressignificant growth,increasing by approximately 4%while innovation,and finance and investments haveimprovements in both system performance anddeclined by 1%.transition readiness(Figure 3).FIGURE 3Global average Energy Transition Index and sub-index scores,2015-202470504001002015201620172018201920202021202220232024Transition readinessFostering Effective Energy Transition 13Last year,Major growing centres of demand,such as China,Meanwhile,improvements in ETI scores have17%of countries,Brazil and India,have improved their ETI scores.slowed in Germany,Japan and the US over theincluding notablepast year.examples likeOut of 120 countries,107 have shown progressFrance,China,over the past decade,with 30 countries seeingIn recent years,Germany has increased its coal-basedPoland,Belgiumtheir scores increase by more than 10%.Notably.energy production by 35%in 2022 compared toChina and Brazil have progressed in recent years.2020,31 to compensate for reduced reliance on Russianand India,primarily due to a ramp-up in renewable energygas,raising its carbon intensity.Germany also phasedshowcasedcapacity additions and an overall increase in theout nuclear energy in April 2023 with plans to replace itimprovementshare of clean energy.Both countries already relywith solar and whnd energy.While solar and wind energyacross equity,on hydropower for a significant share of energyadoption has increased,most of the gap has been filledsecurity andconsumption and have committed to solar andby coal.Japan has been significantly impacted bysustainability.wind capacity ramp-up.Different measures haveluctuations in gas prices,leading to a drop in its equitycome together in these countries over the yearsscores due to challenges with energy affordability.to create an enabling environment for the energyEarly success with clean hydrogen shows promisingtransition.Brazil's long-term commitment tosigns.The US has seen robust growth in ET scoreshydropower and biofuels,27 combined with recentover the past three years,with the Inflation Reductionstrides in solar energy,has set the country on theAct(IRA)33 playing a key role in providing the economicpath to becoming a leader.Its focus on planningenvironment for renewable energy and EV adoption.and policy instruments,as well as strengtheningHowever,the pace of the transition has decreased ininstitutions,has built the right ecosystem for energythe past year due to a backlog in connecting cleantransition momentum.energy projects to the grid,especially with largeprojects taking longer to connect.Additionally,whileMeanwhile,India has made strides in its clean energysolar and wind are generally accepted by the publicinfrastructure,with renewable energy and biomasscomprising 42%of its power generation capacity,2(not-in-my-backyard)pushed energy players to buildmaking it the fourth-largest renewables marketassets in areas with strong potential for wind and solarwhile respecting the needs of local communities.35India is driving the adoption of electric vehicles (EVs)and the production of green hydrogen.2 However,Among the new entrants n the top 20 are Latvia andthe significant dependence on coal in both ChinaChile.Latvia has bolstered its sustainability performanceand India continues to be a major factor in theirwith renewables contributing to approximately three-emission intensity.30quarters of its power generation,largely driven byhydropower and biofuels.Additionally,Latvia hasLast year,17%of countries,including notablemade strides in energy security by diversifying its importexamples like France,China,Poland,Belgiumand India,showcased improvement across equity,mproved its ETl score this year,with increasedsecurity and sustainability,highlighting the difficultyIn 2024,a notable 28%of nations,including KuwaitDespite these advancements,the global imperativeNigeria,Bangladesh,Mozambique and Tanzania,to balance equity,sustainability and security remainsare actively transitioning towards a more balancedparamount.Only 20 countries improved scoresenergy system.This evolution is characterized byacross all three dimensions in the past year.Thesignificant advancements in the lowest-scoringgrowing complexity of macroeconomic landscapessub-index among equity,security and sustainability.and escalating geopolitical tensions have introducedSuch progress indicates a strategic shift towardsadditional challenges,underscoring the need fora more equitable,secure and sustainable energytailored pathways towards the energy transition tolandscape in these countries.address these evolving dynamics effectively.Fostering Effective Energy Transition 14FIG URE 4 Regional scores and key insights:average scores by peer group-ETI 202464.854.153.955.249.6Sub-SamaranAte51.857.5