Thursday 12/09/2019

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Sustainability: Norway climbs to the top of the ranking

Responsible Investment Strategist

Since 2008, Bank Degroof Petercam has been publishing its six-monthly sustainability ranking for the 35 OECD countries. Once again, a Scandinavian country has made it to the top of the ranking. Norway obtains the top score in terms of social well-being and the economy, alongside Denmark and Sweden.

As the country’s economy is largely based on oil, there is quite some room for improvement in terms of its environmental score. In particular this applies to fostering renewable energy, the overall representation of which in the country’s energy mix remains very low. Energy efficiency could also be improved, given the high energy use compared to economic growth.

As regards the United States, it lags Norway by a substantial 18 points. On the democratic front, the country has low corruption rates, which is typical for Scandinavian economies. It also has strong institutions and a high level of press freedom. At the economic level, the country is solid and has a healthy current account deficit, public finances, private credit consumption and net international investment position. Finally, there is almost no social inequality in the country as wealth per inhabitant is extremely high.

Comparison on the five sustainability domains and comparison of the first (Norway) and last (Mexico) country versus the United States and Belgium

For more information about this ranking, don't hesitate to contact Ophélie Mortier, Responsible Investment Strategist.

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