Italy and UK witness 'transformation' in energy transition

Italy's energy transition has been “transforming” in the past three years, the World Economic Forum (WEF) concludes in its annual report on the energy transition. According to researchers, the reason lies in Italy's dependence on gas.

Along with four other countries, the World Economic Forum highlights Italy as one of the countries that has shown a “transformation” in the energy transition in recent years. The WEF also finds this in the UK, Turkey, Angola and Kuwait. The reasons for this vary, the report shows. For example, the researchers praised the UK for being a “pioneer” in the energy transition and for continuing to perform “very well” in this area.

But due to the heavy dependence on gas and the energy crisis in recent years, “the momentum has slowed” due to rising energy costs. The World Economic Forum notes that Turkey's willingness to make efforts for the energy transition is decreasing. According to the World Economic Forum, this is due to the lack of regulations and investments.

At the international level, the World Economic Forum concluded that the energy transition is still underway, but “momentum has been lost due to growing global uncertainty.” According to the report, progress is being hampered by setbacks such as high energy prices, while energy security also remains challenged by geopolitical risks.

Netherlands at ten

Italy and the UK are ranked 41st and 13th respectively in the World Economic Forum’s Global Energy Transition Ranking, with Finland (3), Denmark (2) and Sweden (1) in the top three. The Netherlands can be found in 10th place on the list, and the WEF did not share any specific findings on the Netherlands.