Sustainable Trade Index 2023

Introduction

On a brighter note, the enhanced emphasis on renewable energy production heralds a promising era. It underscores the global commitment to sustainability and offers a platform for cost-reducing innovation. Renewable energy is a major part of the solution to reversing climate change and addressing broader sustainability concerns. With extreme weather conditions now making the seriousness of climate issues irrefutable, economies and companies must rethink their strategies. This is one key area in which we expect the STI to be particularly useful, by allowing economies to use a comparative analysis of their performance in renewable energy among other sustainability indicators. In this evolving context, policymakers, businesses, and governments are tasked with the challenge of adapting; of finding equilibrium between economic growth, societal well-being, and environmental stewardship. In the subsequent sections, we will delineate the findings of this year’s index. After providing this year’s results, we will explore the top performers and laggards in each “pillar” (see explanation below). Crucially, we will highlight the strengths and weaknesses of both high- and low-ranked economies, aiming to identify the key factors driving their performance.

Figure 2 The relationship between STI ranks and GDP per capita

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HINRICH-IMD SUSTAINABLE TRADE INDEX 2023

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