Colombia ranks 6th worldwide in transition to sustainable energy: World Economic Forum

Colombia ranked sixth worldwide in the transition to a sustainable energy model, according to the World Economic Forum.

The World Economic Forum report judged 105 countries [on a scale of 0 to 1] by assessing their “energy systems across three primary objectives: delivering economic growth, doing so in an environmentally sustainable manner, and ensuring security of supply and access for all.” Colombia scored better than countries like Spain, the UK and Denmark but still fell to 

Judging solely on economic growth and development, however, Colombia’s score of 0.76 is second only to Peru’s 0.78 and better than the global average of 0.45.

“Peru and Colombia have reformed energy markets and taken advantage of natural resource endowments to drive economic growth and development,” read the report.
The study makes particular reference to Colombia’s “improved regulatory framework and security situation [that] has boosted investment in the country by international business and international oil companies.”
“Colombia’s liberalized market and resource-rich geology means the energy sector provides a strong revenue stream for the country,” the report continued.

Colombia fell short in the environmental sustainability category, scoring a mere 0.54, making it the lowest scoring nation in the top ten. The report emphasized, however, that “environmental sustainability was not a priority…of [sustainable] energy discourse until recently, meaning [all] countries are naturally further behind on environmental sustainability metrics than [in]…other aspects.”

In terms of energy security and access [diversity of supply, level and quality of access to energy sources, and self sufficiency] Colombia received a 0.78 score.

The release of the World Economic Forum’s study comes amidst a global transition away from a dependency on fossil fuels towards systems that are instead fueled by renewable energy.

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