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0 News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/study-reveals-the-worlds-leading-countries-in-sustainability-innovation/
A new study by Arka has ranked the top countries where businesses are most focused on sustainability, with Scandinavian nations leading the charge.
Denmark, Sweden, and Finland topped the list, each earning impressive scores on the sustainability index, all surpassing 85 points.
These countries have emerged as global leaders in integrating sustainability into both public and private sectors, setting a high bar for others to follow.
The study, which compiled data from various indicators, including environment-related technology patents, sustainable companies, and GDP per capita, calculated a composite score for each nation to assess its commitment to sustainability in relation to its economic capacity. The rankings reflect the balance between innovation and sustainable business practices across different economies.
Sweden took the top spot with a composite score of 65.9, excelling in the density of sustainable companies, with the highest number per billion GDP at 7.6. The country also scored highly on the sustainable development index, reflecting its comprehensive approach to sustainability. Close behind, Denmark scored 63.3, driven by a solid performance in patents per billion GDP and sustainable companies per billion GDP. Finland followed with a score of 62.5, highlighted by its remarkable sustainable development index of 86.35 and a high number of sustainable companies per billion GDP.
South Korea, ranking fourth with a score of 58.5, dominated the study with the highest number of environment-related technology patents—6,622. Despite a lower number of sustainable companies per billion GDP, South Korea’s tech-driven focus on sustainability stands out as a key feature of its strategy.
Belgium, Switzerland, the United Kingdom, Canada, Australia, and Austria rounded out the top ten, each making significant strides toward sustainability but with varying levels of focus on innovation, sustainable business activity, and government initiatives. The United Kingdom, for example, performed well in both patents and the number of sustainable companies per billion GDP, earning a composite score of 55.6. Meanwhile, Canada made notable progress, with a sustainable development index of 78.83, though its overall score was lower at 53.6.
The study highlighted the growing importance of sustainability as a competitive advantage, with countries using eco-innovation and sustainable business practices to strengthen their economic resilience. The researchers emphasized that nations are not only prioritizing environmental responsibility but also integrating it into the core of their economic strategies.
The methodology behind the study combined data from diverse sources, including patents related to the environment, sustainable businesses listed on Crunchbase, and GDP figures. These were scaled according to each country’s GDP to ensure a fair comparison of sustainability efforts relative to economic size. The final composite score was based on a weighted formula, giving more emphasis to the number of patents and sustainable companies relative to GDP, while factoring in GDP per capita.
As sustainability continues to evolve into a critical component of economic growth, this study demonstrates that countries investing in sustainable innovation are not just contributing to global environmental goals but are also positioning themselves for long-term economic success.
News Ghana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://newsghana.com.gh/study-reveals-the-worlds-leading-countries-in-sustainability-innovation/
