WEF Current Affairs

India ranks 78th on WEF Energy Transition Index

India was ranked at 78th among 114 countries on World Economic Forum’s (WEF) Energy Transition Index  (ETI) released as part of report titled Fostering Effective Energy Transition. The index ranks countries on how well they are able to balance energy security and access with environmental sustainability and affordability.

Key Facts

Top 10 countries in 2018 ETI: Sweden (1st), Norway (2nd), Switzerland (3rd), Finland (4th), Denmark (5th), Netherlands (6th), the UK (7th), Austria (8th), France (9th) and Iceland (10th).

BRICS Countries in ETI: Brazil (38th), Russia (70th) and China (76th).

India related facts

According to report, India has taken bold measures to improve energy access, energy efficiency and to improve deployment of renewable sources of energy. However, energy transition in India will require large investments and enabling environment along with robust regulatory frameworks to support transition.

India is at crossroads in its energy transition journey. Its energy needs are primarily met by fossil fuels with implications for environmental sustainability and increasing energy import costs. Furthermore, considerable share of India’s population still lacks access to electricity and clean cooking fuel.

In 2018 ETI, India ranks in third performance quartile and third readiness quartile, making it emerging country that is approaching the leapfrog category. Interestingly, India has improved its performance score by 5.6 percentage points between 2013 and 2018 period, mainly with improved energy access, reduced subsidies and reduced import costs. India has largest government-mandated renewable energy programme, with target of 175 GW renewable energy capacity by 2022, and it announced plans to shift completely to electric vehicles by 2030.

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WEF launches Global Centre for Cybersecurity

The World Economic Forum (WEF) has launched new Global Centre for Cybersecurity in a bid to safeguard world from hackers and growing data breaches — especially from nation-states. The centre will be headquartered in Geneva, Switzerland and will become operational from March 2018

Global Centre for Cybersecurity

The Global Centre for Cybersecurity will function as an autonomous organization under WEF. It will help to build a safe and secure global cyberspace. Its aim is to establish first global platform for governments, businesses, experts and law enforcement agencies to collaborate on cybersecurity challenges. It will draw on WEF’s government and industry support to work towards more secure cyberspace through its established multistakeholder approach.

Mandate of Global Centre for Cybersecurity

  • Consolidate existing cybersecurity initiatives of WEF.
  • Establish independent library of cyber best practices.
  • Help partners to enhance knowledge on cybersecurity.
  • Work towards an appropriate and agile regulatory framework on cybersecurity.
  • Serve as laboratory and early-warning think tank for future cybersecurity scenarios.

World Economic Forum (WEF)

WEF is Swiss nonprofit foundation, based in Geneva. It is recognized as international institution for public-private cooperation. It is committed to improve state of world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas.

WEF is best known for its annual winter meeting for five days in Davos, a mountain resort in Graubünden, in eastern Alps region of Switzerland. The meeting brings together some international political leaders, 2,500 top business leaders, selected intellectuals, and journalists to discuss the most pressing issues facing the world.

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