Green Future Index 2023: Momentum slowing among climate leaders as many countries have reverted to old carbon-intensive habits to recharge their economies.
Summary
For the least three years, US university MIT’s Technology Review Insights team has produced a comparative analysis on the success of environmental efforts in 76 countries and territories. It measures the extent to which 76 countries are moving toward a green future by reducing their carbon emissions, developing clean energy, innovating in green sectors, and preserving their environment, as well as the degree to which governments are implementing effective climate policies.
Iceland, Finland, Norway, Denmark, and Sweden claimed the top five spots in the Green Future Index 2023, with the Netherlands, UK, South Korea, France, and Spain rounding out the Top 10. The ranking assesses 76 nations on five pillars: carbon emissions, energy transition, green society, clean innovation, and climate policy.
Japan ranked well due to its investment in low-emission fuel research, while South Korea, the only non-European country in the top ten, was recognized for its climate neutrality initiatives and a $1.9 billion climate fund. India, at 50th overall, was highlighted for issuing $1.6 billion in green bonds for clean energy.
The interactive Green Future Index provides detailed rankings and insights into each country’s progress toward a sustainable, low-carbon future.
Key Points
MIT Technology Review Insights, in collaboration with Kyndryl, Intel, and Iris Ceramica Group, has released the third annual Green Future Index (GFI). The report ranks 76 nations and territories on their advancement toward a sustainable, low-carbon economy based on research conducted from June 2022 to January 2023.
The GFI evaluates progress across five pillars: reducing carbon emissions, developing clean energy, green sector innovation, environmental preservation, and climate policy.
Key findings:
- Green Leaders Maintain Position: The top-ranked “Green Leaders” remain largely unchanged from last year, with Iceland securing the number one spot. Luxembourg made a notable jump into the top 16, while the United States improved slightly from 20th to 19th. Many leaders saw their scores decline despite increased efforts, suggesting early momentum in carbon reduction is tapering off.
- Shifts in the “Greening Middle”: Countries in the “Greening Middle” group, which implement sustainable policies, experienced significant movement. South Africa rose from 31st to 25th, and Uruguay moved from 38th to 26th. Costa Rica continued to lead among emerging economies, ranking 24th.
- Wealth’s Role in Sustainability: The GFI found a strong correlation between a country’s wealth and its ability to transition to a low-carbon future. High GDP per capita often enhances the capacity to implement sustainability initiatives.
- Progress Among Lower-Income Nations: Despite this, several lower-income countries made significant gains. Argentina and Indonesia saw the largest improvements, moving up 20 and 21 spots, respectively, thanks to focused efforts in specific areas such as carbon reduction and societal sustainability.
- Carbon-Intensive Economies Struggle: Countries reliant on fossil fuels or natural resource extraction, labeled as “Climate Laggards,” continue to lag. Australia, however, showed improvement, climbing 10 spots due to new policies aimed at reducing reliance on carbon-intensive industries.
“As the world faces the critical issue of climate change, the Green Future Index provides a comprehensive analysis of how countries are progressing toward a sustainable, low-carbon future,” says Laurel Ruma, global editorial director, MIT Technology Review Insights. She continues, “Although there are clear leaders in this space, the report also reveals some uncomfortable truths about the link between wealth and a country’s ability to define its low-carbon future. However, we’re encouraged to see that commitment to improving sustainability is not limited to high-income countries, with developing nations such as Argentina and Indonesia making significant progress.”
“It’s clear we all need to do more to combat climate change, and the Green Future Index can be a guide for policymakers and enterprises alike. As we continue to navigate these challenges, we must focus on driving meaningful change through policy work, innovative technologies, and reducing carbon emissions. MIT Technology Review Insights is committed to playing our part in this critical effort and we continue to support the development of a sustainable future for all.” explains Ruma.
Laurel Ruma, global editorial director of MIT Technology Review Insights, emphasized the importance of ongoing efforts to address climate change. She highlighted the encouraging progress made by both wealthy and developing nations alike, but also stressed the need for more comprehensive global action.
To view the Green Future Index 2023 research findings, visit the interactive page or click here to download the report.
Source: Press Release, MIT , March 30, 2023
