Sustainable Trade Index 2024

Sustainable trade is gaining prominence globally as economies are adapting post-pandemic. Countries are facing health crises, climate change, and geopolitical tensions. Resilience is crucial for recovery and many nations are focusing on sustainable trade practices, which promote innovative thinking and collaboration.

What is Sustainable Trade?

Sustainable trade benefits all trading partners and balances economic, social, and environmental factors. The goal is economic growth alongside social and environmental responsibility. Countries aim to create resilient industries and workforces. This alignment encourages green economies.

Sustainable Trade Index 2024

The Sustainable Trade Index 2024 evaluates global economies. It is produced by the Hinrich Foundation and IMD. The index focuses on three areas – economic growth, societal progress, and environmental resilience. It ranks countries based on their sustainable trade practices. The report reveals leaders in this field.

Top 10 Most Sustainable Trade Economies in 2024

New Zealand ranks first for the third consecutive year. It excels in economic and social areas while leading in environmental performance. The UK holds the second position, despite a drop in economic ranking. It maintains strong societal and environmental scores. India ranks 23rd on the list. The following are the top 10 sustainable trade economies for 2024:

Important Facts for Exams:

1. Hinrich Foundation: The Hinrich Foundation promotes sustainable trade practices. It supports research and education. The foundation aims to enhance global trade through responsible and ethical methods.
2. Sustainable Trade Index: The Sustainable Trade Index evaluates countries’ trade sustainability. It assesses economic growth societal progress and environmental resilience. The index identifies leaders in sustainable trade practices globally.

Month: Current Affairs - November, 2024

Category: Reports & Indexes Current Affairs