The World Energy Council in partnership with consultancy firm Oliver Wyman has analysed the progress of almost 130 countries on energy security, equity and environmental sustainability.
And of the top ten countries in its ranking, all but one are European: Canada is the exception.
The top ten were led by Switzerland, followed by Sweden, Denmark, Austria, Finland, France, the UK, Canada, Germany, Norway.
The 2020 World Energy Trilemma Index provides an objective rating of national energy policy and performance across all three dimensions using global and national data.
It also analyses historic trends to enable energy policy makers and stakeholders to track their policy performance over time and compare with others to explore how to improve.
Eight countries achieved the top AAA balance grade, representing top performance in every dimension. Sustained investments in wind and solar meant countries with the highest overall scores, such as Switzerland, Sweden and Denmark, have simultaneously reduced emissions while diversifying their energy systems.
Of the three dimensions, equity has seen the greatest improvements since 2000, driven by policy-led efforts to increase access to energy in developing countries.
The highest scoring countries on security have diversified energy systems and benefit from significant natural resource endowments.
The rate of improvement in overall Trilemma performance generally increases as the transition progresses – typically, performance in all three dimensions are advancing and accelerating.
Dr Angela Wilkinson, secretary general of the World Energy Council, said: “This has been a turbulent year for societies and economies. Tools such as the World Energy Trilemma Index are more important than ever as countries, companies and customers start to recover.”
She added that the index “enables individual countries and diverse regions to learn from each other about what’s working and what’s not in joining-the dots between people, planet and prosperity/managing the connected challenges of energy security, energy affordability and equity and environmental sustainability.”
Francois Austin, partner and global head of energy at Oliver Wyman, said the index “shows that the significantly improved nations are undergoing a faster-paced energy transition”.
“While the impact of COVID likely won’t be seen until next year at the earliest, one thing is for sure – top-performing nations achieve their energy goals by balancing policy, corporate action, national resource usage, and changes to individual behavior with environmental concerns.
“These trends in aggregate as well as at the national and regional levels can give policymakers and business leaders direction to shape energy’s future.”
Comprehensive data and analytical insights are a necessary tool for policymakers to develop a coherent approach to the global energy future. To make these insights widely available, the World Energy Council and Oliver Wyman also launched the Trilemma interactive online tool featuring countries’ energy profiles and Trilemma performance since the year 2000.
The Trilemma Index and interactive online tool feature a variety of findings about the state of energy around the world.