Energy security key according to 2015 World Energy Council Energy Trilemma Index
Published: 19 November 2015 - Lisa Peake
Now in its fifth edition, the World Energy Council’s annual ranking of energy and climate policies - the 2015 Energy Trilemma Index - registers overall improvements across the three dimensions of the energy trilemma. However, this year’s report shows that the challenges faced by countries to develop a balanced approach to their energy policy mean that only two countries out of 130 are achieving ‘AAA’ balance score
Switzerland and Sweden, who top the list, achieve triple ‘A’ score, and while the UK remains in the top ten, it loses its ‘A’ grading for energy equity, moving it from a ‘AAA’’ to ‘AAB’ status. It is a downgrade that reflects the challenges that countries across the world are facing in balancing the trade-offs of the trilemma goals and dealing with financing the transformation of their energy systems.
Joan MacNaughton, Executive Chair of the World Energy Trilemma study said, “Our research underlines how priorities vary from country to country - though energy security is key for all. And the report highlights a real issue for the 21st Conference of the Parties due to begin later this month in Paris, namely translating the Intended National Determined Contributions from international objectives into national level actions for energy. The investment required is huge, and driving it to the right places will require a balanced approach if countries are to meet the three goals of the trilemma.”
To support the UNFCCC process, the report is being sent to all parties attending COP21 and will form the basis of post 2015 ministerial dialogue which will take place at the World Energy Congress to be held in October 2016 in Istanbul.
MacNaughton added, “For countries to move up in the rankings and remain ahead of the pack, they must adopt prudent, forward-looking energy policies to meet decarbonisation goals and maintain competitiveness. This report provides a map for the long road from Paris to help policymakers and businesses chart a sustainable course.”
Every year, the Energy Trilemma Index report ranks the energy systems of countries across the world by giving them a score based on how they are balancing the three dimensions of the energy trilemma between energy security (a country’s ability to meet its current and predicted energy demand), energy equity (the accessibility and affordability of energy across the population) and environmental sustainability (achievement of supply of renewable or low carbon forms of energy).
Download the 2015 World Energy Trilemma report and the Energy Trilemma Index along with country profiles here
Source: Energy Management