Winners and sinners in country sustainability rankings

Winners and sinners in country sustainability rankings

13-06-2016 | リサーチ

Sweden is still the world’s most sustainable country, while the UK faces a stability threat due to the Brexit vote, and the refugee crisis is a major global risk, according to the latest RobecoSAM assessment.

  • Max Schieler
    Senior Country Risk Specialist at RobecoSAM

Its biannual Country Sustainability Ranking (CSR) assesses the environmental, social and governance (ESG) credentials of 62 countries – 22 from developed and 40 from emerging markets. It aims to find the key risk drivers for investors in government bonds issued by these countries along with potential threats to domestic company equities.

“The sustainability profile in many countries has come under increasing strain, partly as a result of persistent economic weakness, growing fiscal pressures, and – in particular – mounting political risks,” says Max Schieler, Senior Country Risk Specialist at RobecoSAM. “Among political risks, the expansion of conflict in the Middle East and North Africa and the ensuing refugee crisis have become a particular concern. These developments have of course not remained without ramifications for country and sovereign risks in general and currently show little sign of reversing anytime soon.”


Risers and fallers

Notable risers in the sustainability rankings since the last CSR update in October 2015 are Australia and Ireland, while Switzerland closed its gap with Sweden, which remains in the top spot for ESG scores. Among emerging markets, the best improvements were seen in Kazakhstan and Jamaica.
Notable fallers were perhaps not surprisingly Brazil and Venezuela, both of which are experiencing major political upheavals, though Qatar and Kuwait suffered the worst falls due to rising instability and corruption, and the sustainability scores for China and Indonesia also deteriorated. Nigeria remains bottom.

The prospect of a Brexit also figured in the analysis, though it has not yet affected the UK’s overall ranking as the world’s fourth most sustainable country. “As there is no precedent for such an event, the economic and financial impact is difficult to assess and any projection is therefore based on a high degree of speculation at this stage, in addition to the fact that some prognoses might also be politically biased,” says Schieler.


当資料は情報提供を目的として、Robeco Institutional Asset Management B.V.が作成した英文資料、もしくはその英文資料をロベコ・ジャパン株式会社が翻訳したものです。資料中の個別の金融商品の売買の勧誘や推奨等を目的とするものではありません。記載された情報は十分信頼できるものであると考えておりますが、その正確性、完全性を保証するものではありません。意見や見通しはあくまで作成日における弊社の判断に基づくものであり、今後予告なしに変更されることがあります。運用状況、市場動向、意見等は、過去の一時点あるいは過去の一定期間についてのものであり、過去の実績は将来の運用成果を保証または示唆するものではありません。また、記載された投資方針・戦略等は全ての投資家の皆様に適合するとは限りません。当資料は法律、税務、会計面での助言の提供を意図するものではありません。




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