ASEAN Stalls Mid Ranking in Energy Transition Index as Demand Rises
Key Takeaways
- ASEAN stalls mid-ranking in the 2024 Energy Transition Index.
- World Economic Forum's 2024 ETI report published June 19, adds personalized country pathways.
- Global average ETI score rose 6% since 2015, with slower growth.
ASEAN Mid-Ranking Reality
ASEAN countries are experiencing stalled progress in the global Energy Transition Index (ETI) 2024, ranking in the middle tier despite substantial growth in energy demand.
“Energy Transition Index 2024 Region: ASEAN stalls mid‑ranking”
The World Economic Forum's annual report 'Fostering Effective Energy Transition' reveals that Southeast Asian nations including Vietnam (32nd), Malaysia (40th), Indonesia (54th), Thailand (60th), Singapore (64th), Laos (72nd), and Cambodia (77th) are lagging behind top performers.
This mid-ranking performance occurs against a backdrop of increasing energy consumption in the region.
Renewable energy development is constrained by inadequate policy frameworks and insufficient investment structures.
Global Progress Patterns
The global energy transition landscape shows uneven progress, with the global average ETI score rising by 6% since 2015.
Growth has slowed over the last three years, raising concerns about meeting climate targets.
This slower pace of improvement highlights challenges in achieving sustainable energy systems worldwide.
The report's introduction of personalized pathways for recommendations tailored to each country's specificities suggests that one-size-fits-all approaches may be inadequate.
Competitive Rankings Contrast
Singapore's competitive performance in energy rankings contrasts with its mid-ranking in the ETI.
“Energy Transition Index 2024 Region: ASEAN stalls mid‑ranking”
Singapore has regained the lead position in the IMD World Competitiveness Ranking.
The city-state moved from fourth place in 2023 and third in 2022 to reclaim the top spot.
Other Asia-Pacific countries showed mixed results, with Taiwan (8th, down 2) and Hong Kong (5th, up 2).
Indonesia improved to 27th and Thailand to 25th, while Malaysia fell 7 places to 34th.
The Philippines remained at 52nd position.
Methodology Concerns
The methodology behind competitiveness rankings has faced criticism for relying heavily on perception indices.
These indices are based on survey data collected by IMD's local partners in each country.
This approach produces results that can be counterintuitive.
The rankings sometimes place emerging economies like Indonesia and Thailand above established developed nations.
Survey-based methodology raises questions about objectivity and true competitiveness drivers.
Such rankings may reflect business sentiment rather than hard economic indicators.
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