The UK ranks second in an index of global economies best placed for sustainable trade.
The Hinrich-IMD Sustainable Trade Index ranks the UK second out of 30 global economies in its ability to trade in a way that will lead to long-term environmental and social benefits. This includes the UK’s record in carbon management, the percentage of wastewater treated, transfer emissions and its success in keeping energy intensity low.
The Sustainable Trade Index, produced in a partnership between the Institute for Management Development (IMD) and the Hinrich Foundation, ranks 30 economies across Asia and the Americas.
The Index reports that the visible impacts of unsustainable trade over the past decade have included a rise in protectionist policies and income inequality, and declining air quality in regions with highly concentrated manufacturing and resource extraction.
The top five economies in the 2022 Sustainable Trade Index are:
• New Zealand placed first, driven by a strong performance across all three pillars of research, with experts drawing particular attention to the impact of its political stability and labour standards on an environment conducive to business.
• The United Kingdom’s second place is the net result of strong performances across all pillars. It ranked second for keeping its energy intensity low.
• Hong Kong’s reputation as an international business powerhouse contributed heavily to its third place finish, despite concerns about other policies stifling its societal performance.
• Japan’s exceptional life expectancy, political stability and environmental performance all
contributed to its fourth-place ranking.
• Singapore, fifth overall, was found to excel in attracting foreign investment and having well developed technological infrastructure; its commitment to fostering technological innovation.