Singapore is rated fifth in the world when it comes to sustainable trade, which covers economic, societal and environmental aspects, according to a report released on Tuesday.
The report, known as the Sustainable Trade Index, ranks 30 economies by their capacity for global trade in a manner that supports long-term sustainable development.
The rankings are based on factors that affect the sustainability of trade in a time of high political tensions and inflation. They include economic growth, social capital development and environmental protection.
New Zealand tops the index, followed by Britain and Hong Kong.
The report was produced by the Institute for Management Development (IMD) Switzerland, an academic institution, and the philanthropic Hinrich Foundation.
Amid the ongoing United Nations Climate Change Conference (COP27) in Egypt, the index is a reminder to countries that the sustainability of trade is essential for economies to prosper at a time when higher climate accountability is expected of nations, wrote the two organisations in a press statement released on Tuesday.
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