Finland is ranked in top 3 of The Global Sustainable Competitiveness Index 2016

Finland is ranked in top 3 of The Global Sustainable Competitiveness Index 2016

Dec 14, 2016
Energy & resource efficiency
Renewables & smart grid
Clean water

Finland has had a stellar year in cleantech-related global country rankings. To finish off a great year, Finland is ranked 3rd in The Global Sustainable Competitiveness Index 2016 (GSCI). The index is dominated by the Nordic countries while some of the world's biggest economies follow far behind.

GSCI evaluates countries' capability to generate and/or sustain financial and non-financial income and wealth for its population. The ranking focuses on 5 categories of sustainable competitiveness: Natural Capital, Resource Intensity, Intellectual Capital, Social Cohesion, and Governance. GSCI is published by SolAbility, a Swiss-Korean sustainable management consultancy for corporations and policy developers.

Nordics dominate the ranking

GSCI is fully dominated by the Nordic countries, with Sweden and Norway taking the top positions and Finland narrowly edging Denmark and Iceland out of the top 3. 

Behind the Scandinavian countries, the GSCI top 20 is populated by other European nations. New Zealand and Japan are the only exceptions to this rule, finishing 12th and 15th respectively. 

Meanwhile, Germany is ranked highest from the top 10 world economies at 14th, followed by Japan (15th), France (17th), UK (21st), Canada (22nd), USA (32nd), China (37th), Brazil (41st), Italy (44th) and India (152nd).

Finland – a world leader in innovation and environmental sustainability

Finland performed best in the categories of Natural Capital (4th), Intellectual Capital (5th), and Social Capital (7th). The Natural Capital category measures the natural physical environment by looking at a country’s possibility to be self-sustaining: land, water, climate, biodiversity, food production and capacity, and energy and mineral resources. Intellectual Capital evaluates a country’s innovation capability and sustainable economic competitiveness while Social Capital category looks at social stability and the well-being of a country’s population.

When looking at other global rankings Finland has excelled in 2016, it comes as no surprise that sustainability of the natural environment and innovation are Finland’s strong areas. Finland is ranked the greenest country in the world in Environmental Performance Index 2016 and 8th in World Energy Council’s world energy sustainability ranking, The Energy Trilemma Index. Finland is also ranked the 5th most innovative country in the world in Global Innovation Index 2016 and the 3rd most innovative country in Europe in 2016 European Innovation Scoreboard.

While Finland is doing extremely well in environmental matters and innovation, according to GSCI Finland has a lot of work to be do to improve its competitiveness and economic growth. Finland is 74th in the Governance category, evaluating the regulatory framework and infrastructure environment’s capability to facilitate sustainable competitiveness, and 103rd in Resource Intensity category, which assesses a country’s ability to manage available resource (natural, human and financial capital) efficiently in relation to stability and sustained economic growth. 

Discover other successes for Finland in cleantech-related global rankings in the news section below.

Source: SolAbility, The ECOreport

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