In a significant stride toward global sustainability, China and Brazil have emerged as leading performers among developing nations in the World Economic Forum’s (WEF) 2024 “Fostering Effective Energy Transition” report. The report, developed in collaboration with Accenture, highlights the remarkable progress these nations have made in transitioning to sustainable energy sources over the past decade.
According to the report, the average global energy transition index score has increased by 6 percent since 2015, signaling steady progress in the adoption of clean energy worldwide. However, the report also notes a slowdown in growth over the past three years, emphasizing the need for renewed efforts to accelerate the energy transition.
China’s commitment to renewable energy investments and technological innovation has positioned it at the forefront of the global energy shift. With substantial investments in solar and wind energy, the Chinese mainland continues to reduce its reliance on fossil fuels, aiming to achieve carbon neutrality by 2060.
Brazil, leveraging its abundant natural resources, has also made significant advances, particularly in hydroelectric and bioenergy sectors. The country’s focus on diversifying its energy matrix has not only bolstered domestic energy security but also contributed to global sustainability efforts.
The WEF report underscores the critical role of developing nations in the global energy transition. It calls for increased international collaboration and support to maintain the momentum, especially in the wake of recent slowdowns.
Experts suggest that continued investment in renewable technologies, supportive policies, and cross-border partnerships are essential to meet global sustainability goals. The achievements of China and Brazil serve as encouraging examples for other developing nations aspiring to enhance their energy systems.
As the world grapples with the challenges of climate change, the progress highlighted in the WEF’s report offers a beacon of hope. The sustained efforts of nations like China and Brazil are pivotal in steering the global community toward a more sustainable and resilient energy future.
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WEF's 2024 energy transition report: China&Brazil among top performers
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