Worldwide, a record amount of 500 billion dollars was invested in the energy transition last year, as a study by the World Economic Forum shows. But there is still a lot to do for climate protection activists.
Despite the disruptions caused by the corona pandemic, the conversion of the energy supply to more sustainable resources has made progress. Last year almost $ 500 billion was invested in the energy transition worldwide, more than ever before. 92 of 115 countries examined have made progress since 2010, reports the Foundation of the World Economic Forum (WEF) in Geneva. Eight of the ten largest economies in the world have also committed to becoming climate neutral by the middle of the century, i.e. not emitting any more CO2 on balance. “All of the leading ten economies have significantly improved their ecological sustainability, especially when it comes to reducing the carbon footprint in the energy mix, supported by strong political commitment and investments in the energy transition,” writes the WEF. The number of people without electricity has decreased significantly since 2010.
Fossil fuels still dominate
But there is still a lot to be done. The authors of the study point out that in 2018 81 percent of global energy came from fossil fuels, and global emissions rose steadily in the period up to 2019. 770 million people around the world still have no access to electricity. The experts also note that the progress made in the energy transition is very uneven. High-income countries made more progress than emerging economies compared to the rest of the world. The world ranking of the countries with the greatest efforts in this area (“Energy Transition Index”) is headed by Sweden, followed by Norway and Denmark. Of the ten largest economies in the world, only Great Britain and France are in the top 10. They only cause around three percent of energy-related CO2 emissions and make up around two percent of the world’s population.
Germany does not belong to the top group
Germany does not belong to the top group. The Federal Republic has moved up from 20th place to 18th place in a year-on-year comparison, but this means that progress has been limited. The reason is the still high share of coal-fired electricity in the energy supply, while France and Great Britain benefit from the largely emission-free nuclear energy. The USA was in 24th place (after 32nd place in the previous year), China on 68 (78), India fell from 74 to 87. It remains to be seen whether the restructuring of the energy supply is really sustainable. The corona pandemic has questioned the resilience of the energy transition, the WEF states. Because many countries simply lack the necessary money to push ahead with the restructuring of their energy supply. Digitization poses a further danger for energy systems. This would create new risks that would jeopardize the “reliability, resilience and affordability” of future energy, according to the WEF. In this decade it is therefore important to guarantee the implementation of the energy transition and to push it further. For this to succeed, it is “of crucial importance” that politics work hand in hand with private actors in the economy. Of course, the prerequisite is that the global economy quickly gets back on its feet after the end of the pandemic. This is the only way to create a resilient energy transition.
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