The Philippines has dropped to 105th out of 120 in the 2024 Energy Transition Index, a study evaluating how countries balance energy security, environmental sustainability, and affordability.
The country ranked 94th in 2023.
According to the Manila Bulletin, the country also trailed behind its Southeast Asian peers, with Vietnam ranking highest at 32, followed by Malaysia (40), Indonesia (54), Thailand (60), and Singapore (64).
Despite this decline, the Philippines saw a slight improvement in its overall ETI score, rising to 50.2% from 48.4% last year on a scale of 0 to 100.
However, it still fell short of the global average score of 56.5% and Emerging and Developing Asia’s average of 53.9%.
The release of the WEF report coincided with the Department of Energy (DOE) updated regulations to streamline procedures for renewable energy (RE) projects, aiming to expedite the transition to clean energy. These updates enable developers of renewable energy projects to commence permit applications, surveys, and feasibility studies ahead of the official start of the 25-year contract period.
WEF highlighted ongoing global progress towards a fairer, more secure, and sustainable energy system, despite acknowledging a slowdown in momentum due to increasing global uncertainties. Economic volatility heightened geopolitical tensions, and technological shifts have collectively slowed the pace and trajectory of the global energy transition.
On a positive note, WEF noted encouraging signs such as increased global investments in renewables and notable advancements in energy transition across sub-Saharan Africa over the past decade. In the ETI rankings, Europe maintained its leadership, with all top 10 positions held by European countries in 2024.
Espen Mehlum, WEF Energy Transition Intelligence and Regional Acceleration Head emphasized the urgency of this year’s Energy Transition Index, stressing the need for swift action from global leaders to reignite momentum towards an equitable, secure, and sustainable energy future crucial for people, economies, and the fight against climate change.
The Energy Transition Index is a study led by the World Economic Forum.
