LONDON: A new report from the World Economic Forum says that “geopolitical tensions, supply disruptions and rising demand” are slowing global progress toward more secure, sustainable and affordable energy systems.
According to the 16th WEF annual Energy Transition Index, overall progress “has flatlined” and “transitional readiness has declined for the first time in over a decade.”
Overall, the Middle East and North Africa saw a decline of 0.9 percent, “as weakening policy commitment and infrastructure investment weighed on progress.”
But Saudi Arabia, says the report, is the stand-out country in the region, having improved its ranking through “stronger financial backing, accelerated renewable deployment and investments in large-scale battery storage.”
The Kingdom saw its overall ETI score rise 1.5 percent to 57.4, its ranking boosted by increases in sustainability and investment in renewables.
