The Singapore Stock Exchange has issued a new index ranking its top 10 countries based on performance on climate change, healthcare, public infrastructure, governance and inequality.
The SSE Singapore Stock Index (SSSE) will be the first to list Singapore in its top ten.
The index ranks countries based not only on the quality of their infrastructure, but also on the number of jobs that they have created, the size of their tax revenues, and their quality of governance.SSE Singapore Chief Executive Officer Wong Wah Chong said the index’s top 10 nations, based on their performance on greenhouse gas emissions, healthcare and public infrastructure will be revealed next week.
“This year, we have added a number of countries with the highest level of inequality,” he said in a press release on Thursday.
A government’s share of total GDP should increase by 7.4 percentage points if all the countries that the index measures achieve a goal of raising their share of GDP to 30% by 2020, he added.
Singapore ranked first on the SSE’s list of countries in 2030 with a 5.9% share of gross domestic product (GDP).
It now ranks 13th.
While some countries, such as France, have gained more than 50 percentage points in the past 20 years, Singapore is still below the OECD average of 9.1%.
Its average growth rate of 6.9%, the second lowest of all the 50 OECD countries, is a far cry from the 9.7% average of the OECD countries in 2016.
According to the SEWS Singapore, the index is an indicator of the country’s progress on addressing climate change.
The top 10 ranking in 2020 included six Asian countries: India, Vietnam, China, the Philippines and Japan.
The index was developed by the Sustainability and Climate Change Group of the SESEC and the SWEPCB, which aims to create a more equitable, sustainable and equitable economy.