United Kingdom Current Affairs - 2019

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Global Energy Transition Index 2019

The Global Energy Transition index 2019 report has been released by the World Economic Forum (WEF). The index compares the energy sectors of 115 countries and analyses their readiness for energy transition. The index benchmarks the countries energy systems based on an “energy triangle”, comprised of energy security and access, economic development and growth, environmental sustainability and how well they are set-up to succeed in the future.

The index takes into account six individual indicators: capital and investment, regulation and political commitment, institutions and governance, institutions and innovative business environment, human capital and consumer participation, and energy system structure.

Global Energy Transition Index 2019

  • Sweden has topped the index and is followed by Switzerland and Norway in the top three.
  • China is ranked even lower than India in the 82nd position.
  • The United Kingdom (UK) is ranked seventh and the UK is the only G7 economy in the top 10.
  • Singapore has been ranked thirteenth, while Germany, Japan and the US have bagged the seventeenth, eighteenth and the twenty-seventh place respectively.
  • Among the Asian Countries, Malaysia is ranked highest at 31st, Sri Lanka is 60th, Bangladesh 90th and Nepal 93rd.
  • The report states that the world’s transition to secure, affordable and sustainable energy has stagnated, with little or no progress achieved in the past five years.
  • The index notes that continued use of coal for power generation in Asia, increasing commodity prices and slower-than-needed improvements in energy intensity have contributed to this year’s stagnation in performance.
  • Even though more people across the globe have access to energy, this has been offset by reduced affordability and almost no progress in making energy systems environmentally sustainable.

Where does India stand?
  • India has moved up two places to rank 76th and the report states that India is amongst the countries with high pollution levels and has a relatively high CO2 intensity in its energy system.
  • The report also acknowledges the significant strides made by India to improve energy access in recent years. India scores well in the area of regulation and political commitment towards energy transition.
  • The report suggests a ground of optimism regarding India despite the current outdated energy system not being ready for the transition because an enabling environment is being built to support the future transition.
  • India has ranked low in terms of system performance (ranking 97 and 86, respectively) and has been ranked considerably higher when it comes to readiness (45 and 61, respectively).
  • India is the second best in the BRICS group of emerging economies, with Brazil being the best at 46th place globally. India is the only BRICS country to improve its rank since last year.

The Index considers both the current state of the countries’ energy system and their structural readiness to adapt to future energy needs.

Month: Categories: Business, Economy & BankingUPSC

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World Happiness Report 2019

The United Nations Sustainable Development Solutions Network has released the World Happiness Report 2019. The report ranks countries on six key variables that support well-being: income, freedom, trust, healthy life expectancy, social support and generosity.

The United Nations Sustainable Development Solutions Network ranks the world’s 156 countries on “how happy their citizens perceive themselves to be”.

Findings of the Report

  • Finland topped the index of for the second year in a row and the report notes that Finland has succeeded in generating recipe that’s not dependent on economic wealth.
  • Finland is followed by Denmark, Norway, Iceland and The Netherlands.
  • The report notes that there has been an increase in negative emotions, including worry, sadness and anger across the world and the overall world happiness has fallen over the past few years.
  • None of the world’s major economic powerhouses made it to the top 10.
  • The United Kingdom stood at a rank of 15 (from 18 last year), Germany went down from the 15th spot to the 17th and the United States dropped from the 18th to the 19th.
  • Japan, Russia and China finished at 58 (down from 54th), 68 (down from 59th ) and 93rd place (down from 86th) respectively.
  • India has witnessed a sustained drop with a 140th place this year compared with the 133rd place in 2018.
  • India featured in the list of five countries that had the largest drop since 2005-2008 in the index, along with Yemen, Syria, Botswana and Venezuela.

Bottom 10

The World Happiness Report offers the world’s governments and individuals the opportunity to rethink public policies and individual life choices, to raise happiness and well-being.

Month: Categories: InternationalUPSC

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