WEF latest report focuses on energy reform in emerging economies

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The World Economic Forum(WEF) advised major emerging economies to push forward effective energy reforms in its latest report released on Wednesday.

The report, entitled Global Energy Architecture Performance Index Report 2015 and written in collaboration with Accenture, a major international management consulting company, reviewed the energy architecture of 125 economies based on their ability to provide energy access across three dimensions of the so-called energy triangle, namely affordability, environmental sustainability, and energy security and access.

Switzerland, Norway and France were top three performers with more affordable, sustainable and secure energy systems, according to the rankings.

Moreover, this year's report focused on energy reforms in major emerging economies.

Roberto Bocca, expert on energy industries with WEF, noted that the geopolitical uncertainties, slowing economic growth and the drop in oil prices were affecting energy systems around the world, and therefore effective energy reforms were more important than ever to drive economic competitiveness, particularly for the emerging economies.

"In the long term, the prize of effective energy reforms in major emerging economies is great, both for the individual nations concerned, and for addressing affordability, sustainability and security challenges across the global energy system," said Arthur Hanna with Accenture in a statement.

The report listed recommendations on energy reforming, including enacting responsive policy frameworks and governance structures, modernizing and reforming state-owned enterprises to increase their effectiveness and ability to adapt to fast-changing conditions, diversifying investments to attract required capitals to build up more efficient energy systems, and as well as effective interplay and engagement of all parties across the energy value chain. Endit

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