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Ranked: Countries with the Most Sustainable Energy Policies

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Countries with the Most Sustainable Energy Policies

strongest energy policies index

Ranked: Countries With Most Sustainable Energy Policies

The sourcing and distribution of energy is one of the most pressing issues of our time.

Just under one billion people still lack basic access to electricity, and many more connect to the grid through improvised wiring or live through frequent blackouts. On the flip side of the socioeconomic spectrum, a growing chorus of voices is pressuring governments and corporations to power the global economy in a more sustainable way.

Today’s visualization – using data from the World Energy Council (WEC) – ranks countries based on their mix of policies for tackling issues like energy security and environmental sustainability.

The Energy Trilemma Index

According to WEC, there are three primary policy areas that form the “trilemma”:

1. Energy Security
A nation’s capacity to meet current and future energy demand reliably, and bounce back swiftly from system shocks with minimal disruption to supply. This dimension covers the effectiveness of management of domestic and external energy sources, as well as the reliability and resilience of energy infrastructure.

2. Energy Equity
A country’s ability to provide universal access to reliable, affordable, and abundant energy for domestic and commercial use. This dimension captures basic access to electricity and clean cooking fuels and technologies, access to prosperity-enabling levels of energy consumption, and affordability of electricity, gas, and fuel.

3. Environmental Sustainability
The transition of a country’s energy system towards mitigating and avoiding environmental harm and climate change impacts. This dimension focuses on productivity and efficiency of generation, transmission and distribution, decarbonization, and air quality.

Using the dimensions above, a score out of 100 is generated. Here’s a complete ranking that shows which countries have the most sustainable energy policies:

RankCountryTrilemma ScoreLetter Grade*
1🇨🇭 Switzerland85.8AAA
2🇸🇪 Sweden85.2AAA
3🇩🇰 Denmark84.7AAA
4🇬🇧 United Kingdom81.5AAA
5🇫🇮 Finland81.1AAA
6🇫🇷 France80.8AAA
7🇦🇹 Austria80.7AAA
8🇱🇺 Luxembourg80.4BAA
9🇩🇪 Germany79.4AAA
10🇳🇿 New Zealand79.4AAA
11🇳🇴 Norway79.3CAA
12🇸🇮 Slovenia79.2AAA
13🇨🇦 Canada78.0AAC
14🇳🇱 Netherlands77.8BAB
15🇺🇸 United States77.5AAB
16🇨🇿 Czech Republic77.4AAB
17🇺🇾 Uruguay77.2ABA
18🇪🇸 Spain77.0BAA
19🇭🇺 Hungary76.8AAB
20🇮🇹 Italy76.8BAA
21🇮🇸 Iceland76.2BAB
22🇱🇻 Latvia76.1ABA
23🇸🇰 Slovakia75.6ABA
24🇧🇪 Belgium75.2BAA
25🇮🇪 Ireland75.2CAA
26🇷🇴 Romania75.1ABA
27🇭🇷 Croatia74.9ABA
28🇦🇺 Australia74.7BAB
29🇵🇹 Portugal74.0BBB
30🇪🇪 Estonia73.8BAB
31🇯🇵 Japan73.8CAB
32🇮🇱 Israel73.3CAB
33🇲🇹 Malta72.9DAA
34🇭🇰 Hong Kong (China)72.5DAB
35🇦🇷 Argentina72.4BAB
36🇱🇹 Lithuania72.4CBA
37🇰🇷 South Korea71.7BAC
38🇨🇷 Costa Rica71.6CBA
39🇧🇷 Brazil71.6ABA
40🇲🇽 Mexico71.3ABB
41🇧🇬 Bulgaria71.3BBB
42🇷🇺 Russia71.2AAC
43🇸🇬 Singapore71.2DAB
44🇻🇪 Venezuela70.3ABB
45🇪🇨 Ecuador69.6ABB
46🇵🇦 Panama69.5CBA
47🇬🇷 Greece69.5CBA
48🇨🇱 Chile69.4BBB
49🇨🇴 Colombia69.3BCA
50🇲🇺 Mauritius69.0CBB
51🇲🇾 Malaysia68.5BBC
52🇦🇪 U.A.E.68.3BAD
53🇵🇱 Poland68.3BBB
54🇨🇾 Cyprus67.9DBB
55🇶🇦 Qatar67.9AAD
56🇧🇳 Brunei67.7CBC
57🇦🇿 Azerbaijan67.7BBB
58🇵🇪 Peru66.8ACB
59🇰🇿 Kazakhstan66.6BBC
60🇦🇲 Armenia66.3CBB
61🇺🇦 Ukraine66.0ACC
62🇸🇻 El Salvador66.0BCA
63🇴🇲 Oman65.5BAD
64🇲🇪 Montenegro65.4CBB
65🇰🇼 Kuwait65.2CAD
66🇹🇷 Turkey64.9CBC
67🇵🇾 Paraguay64.7DBA
68🇹🇭 Thailand64.6CBC
69🇮🇩 Indonesia64.1BCC
70🇷🇸 Serbia63.8BBC
71🇲🇰 North Macedonia63.7CBC
72🇨🇳 China63.7BBD
73🇦🇱 Albania63.7DBA
74🇮🇷 Iran63.6ABD
75🇹🇳 Tunisia63.6BBC
76🇹🇹 Trinidad and Tobago63.3CAD
77🇬🇪 Georgia63.1CBC
78🇸🇦 Saudi Arabia62.8CAD
79🇧🇦 Bosnia and Herz.62.1BBC
80🇧🇭 Bahrain62.1BAD
81🇱🇧 Lebanon61.6DAC
82🇩🇿 Algeria61.3CBD
83🇲🇦 Morocco61.1CCC
84🇧🇴 Bolivia60.4BCC
85🇱🇰 Sri Lanka60.1BCB
86🇦🇴 Angola60.0ADB
87🇪🇬 Egypt59.9BBD
88🇬🇹 Guatemala59.7BCC
89🇬🇦 Gabon59.5CBD
90🇳🇦 Namibia59.1CDA
91🇻🇳 Vietnam58.9ACD
92🇿🇦 South Africa58.9DBD
93🇮🇶 Iraq58.9BBD
94🇵🇭 Philippines58.6BCC
95🇯🇴 Jordan58.5DBC
96🇧🇼 Botswana57.7DCC
97🇩🇴 Dominican Republic57.6DBB
98🇯🇲 Jamaica56.9DBC
99🇹🇯 Tajikistan55.7DCC
100🇭🇳 Honduras55.3DCC
101🇸🇿 Eswatini55.1DCC
102🇳🇮 Nicaragua54.5DCC
103🇬🇭 Ghana52.9CDC
104🇲🇲 Myanmar51.9BDB
105🇰🇭 Cambodia51.6CDC
106🇰🇪 Kenya51.3BDB
107🇲🇩 Moldova51.2DCD
108🇲🇳 Mongolia51.1DCD
109🇮🇳 India50.3BDD
110🇵🇰 Pakistan49.6CDD
111🇨🇮 Côte d’Ivoire49.3BDC
112🇿🇲 Zambia47.8CDB
113🇨🇲 Cameroon47.4BDD
114🇧🇩 Bangladesh47.1DDC
115🇿🇼 Zimbabwe46.0CDC
116🇲🇷 Mauritania45.6BDD
117🇳🇵 Nepal44.3DDC
118🇸🇳 Senegal43.4DDD
119🇹🇿 Tanzania42.5DDC
120🇪🇹 Ethiopia42.3DDC
121🇲🇬 Madagascar42.2CDC
122🇲🇿 Mozambique41.4DDC
123🇳🇬 Nigeria40.7BDD
124🇲🇼 Malawi39.1DDB
125🇧🇯 Benin36.3DDD
126🇹🇩 Chad33.8DDD
127🇨🇩 D.R.C.33.8DDC
128🇳🇪 Niger30.0DDD

*The letter grade represents national performance in three dimensions. The first letter represents Security, the second letter represents Equity, the third letter represents the Environmental Sustainability. The top grade is AAA, the lowest is DDD.

Highs, Lows, and Outliers

Every country has unique circumstances — from strategic energy reserves to green energy ambitions — that shape their domestic energy policies. Let’s take a closer look at some of the more interesting situations around the world.

Sweden

sweden energy trilemma index

Qatar

qatar energy trilemma index

Singapore

singapore energy trilemma index

Dominican Republic

dominican republic energy trilemma index

Niger

niger energy trilemma index

Global Energy Outlook

Achieving the balance of prosperity and sustainability is a goal of nearly every country, but it takes stability and the right mix of policies to get the job done.

The fact that many trilemma scores are improving is an indicator that the world’s patchwork of energy policies are slowly moving in the right direction.

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Energy

Mapped: The World’s Largest State-Owned Oil Companies

State-owned oil companies control roughly three-quarters of global oil supply. See how these companies compare in this infographic.

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Mapped: The World’s Largest State-Owned Oil Companies

View the high-resolution of the infographic by clicking here.

Oil is one of the world’s most important natural resources, playing a critical role in everything from transportation fuels to cosmetics.

For this reason, many governments choose to nationalize their supply of oil. This gives them a greater degree of control over their oil reserves as well as access to additional revenue streams. In practice, nationalization often involves the creation of a national oil company to oversee the country’s energy operations.

What are the world’s largest and most influential state-owned oil companies?

Editor’s Note: This post and infographic are intended to provide a broad summary of the state-owned oil industry. Due to variations in reporting and available information, the companies named do not represent a comprehensive index.

State-Owned Oil Companies by Revenue

National oil companies are a major force in the global energy sector, controlling approximately three-quarters of the Earth’s oil reserves.

As a result, many have found their place on the Fortune Global 500 list, a ranking of the world’s 500 largest companies by revenue.

CountryNameFortune Global 500 Rank2019 Revenues 
🇨🇳 ChinaSinopec Group2$443B
🇨🇳 ChinaChina National Petroleum Corporation (CNPC) 4$379B
🇸🇦 Saudi ArabiaSaudi Aramco6$330B
🇷🇺 RussiaRosneft76$96B
🇧🇷 BrazilPetrobras120$77B
🇮🇳 IndiaIndian Oil Corporation (IOCL) 151$69B
🇲🇾 MalaysiaPetronas186$58B
🇮🇷 IranNational Iranian Oil Company (NIOC) Not listed$19B* 
🇻🇪 Venezuela Petróleos de Venezuela (PDVSA)Not listed$23B (2018)

*Value of Iranian petroleum exports in 2019. Source: Fortune, Statista, OPEC

China is home to the two largest companies from this list, Sinopec Group and China National Petroleum Corporation (CNPC). Both are involved in upstream and downstream oil operations, where upstream refers to exploration and extraction, and downstream refers to refining and distribution.

It’s worth noting that many of these companies are listed on public stock markets—Sinopec, for example, trades on exchanges located in Shanghai, Hong Kong, New York, and London. Going public can be an effective strategy for these companies as it allows them to raise capital for new projects, while also ensuring their governments maintain control. In the case of Sinopec, 68% of shares are held by the Chinese government.

Saudi Aramco was the latest national oil company to follow this strategy, putting up 1.5% of its business in a 2019 initial public offering (IPO). At roughly $8.53 per share, Aramco’s IPO raised $25.6 billion, making it one of the world’s largest IPOs in history.

Geopolitical Tensions

Because state-owned oil companies are directly tied to their governments, they can sometimes get caught in the crosshairs of geopolitical conflicts.

The disputed presidency of Nicolás Maduro, for example, has resulted in the U.S. imposing sanctions against Venezuela’s government, central bank, and national oil company, Petróleos de Venezuela (PDVSA). The pressure of these sanctions is proving to be particularly damaging, with PDVSA’s daily production in decline since 2016.

State-Owned Oil Companies - Venezuela example

In a country for which oil comprises 95% of exports, Venezuela’s economic outlook is becoming increasingly dire. The final straw was drawn in August 2020 when the country’s last remaining oil rig suspended its operations.

Other national oil companies at the receiving end of American sanctions include Russia’s Rosneft and Iran’s National Iranian Oil Company (NIOC). Rosneft was sanctioned by the U.S. in 2020 for facilitating Venezuelan oil exports, while NIOC was targeted for providing financial support to Iran’s Islamic Revolutionary Guard Corps, an entity designated as a foreign terrorist organization.

Climate Pressures

Like the rest of the fossil fuel industry, state-owned oil companies are highly exposed to the effects of climate change. This suggests that as time passes, many governments will need to find a balance between economic growth and environmental protection.

Brazil has already found itself in this dilemma as the country’s president, Jair Bolsonaro, has drawn criticism for his dismissive stance on climate change. In June 2020, a group of European investment firms representing $2 trillion in assets threatened to divest from Brazil if it did not do more to protect the Amazon rainforest.

These types of ultimatums may be an effective solution for driving climate action forward. In December 2020, Brazil’s national oil company, Petrobras, pledged a 25% reduction in carbon emissions by 2030. When asked about commitments further into the future, however, the company’s CEO appeared to be less enthusiastic.

That’s like a fad, to make promises for 2050. It’s like a magical year. On this side of the Atlantic we have a different view of climate change.

— Roberto Castello Branco, CEO, Petrobras

With its 2030 pledge, Petrobras joins a growing collection of state-owned oil companies that have made public climate commitments. Another example is Malaysia’s Petronas, which in November 2020, announced its intention to achieve net-zero carbon emissions by 2050. Petronas is wholly owned by the Malaysian government and is the country’s only entry on the Fortune Global 500.

Challenges Lie Ahead

Between geopolitical conflicts, environmental concerns, and price fluctuations, state-owned oil companies are likely to face a much tougher environment in the decades to come.

For Petronas, achieving its 2050 climate commitments will require significant investment in cleaner forms of energy. The company has been involved in numerous solar energy projects across Asia and has stated its interests in hydrogen fuels.

Elsewhere, China’s national oil companies are dealing with a more near-term threat. In compliance with an executive order issued by the Trump Administration in November 2020, the New York Stock Exchange (NYSE) announced it would delist three of China’s state-run telecom companies. Analysts believe oil companies such as Sinopec could be delisted next, due to their ties with the Chinese military.

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Energy

The Periodic Table of Commodity Returns (2021 Edition)

Which commodity had the best returns in 2020? From gold to oil, we show how commodity price performance stacks up over the last decade.

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The Periodic Table of Commodity Returns (2011-2020)

Being a commodity investor can feel like riding a roller coaster.

Take silver. Typically known for sharp, idiosyncratic price movements, it faced double-digit declines in the first half of the decade, falling over 35% in just 2013 alone. By contrast, it jumped over 47% in 2020. Similarly, oil, corn, and others witnessed either steep declines or rapid gains.

The above graphic from U.S. Global Investors traces 10 years of commodity price performance, highlighting 14 different commodities and their annual ranking over the years.

Commodity Price Performance, From Best to Worst

Which commodities were the top performers in 2020?

The aforementioned silver tripled its returns year-over-year, climbing 47.9% in 2020. In July, the metal actually experienced its strongest month since 1979.

RankCommodity
Return (2020)
Return (2019)
Return (2018)
1Silver47.9%15.2%-8.5%
2Copper26.0%3.4%-17.5%
3Palladium25.9%54.2%18.6%
4Gold25.1%18.3%-1.6%
5Corn24.8%3.4%6.9%
6Zinc19.7%-9.5%-24.5%
7Nickel18.7%31.6%-16.5%
8Gas16.0%-25.5%-0.4%
9Wheat14.6%11.0%17.9%
10Platinum10.9%21.5%-14.5%
11Aluminum10.8%-4.4%-17.4%
12Lead3.3%-4.7%-19.2%
13Coal-1.3%-18.0%-22.2%
14Oil-20.5%34.5%-24.8%

Along with silver, at least seven other commodities had stronger returns than the S&P 500 in 2020, which closed off the year with 16.3% gains. This included copper (26.0%), palladium (25.9%), gold (25.1%) and corn (24.8%).

Interestingly, copper prices moved in an unconventional pattern compared to gold in 2020. Often, investors rush to gold in uncertain economic climates, while sectors such as construction and manufacturing—which both rely heavily on copper—tend to decline. Instead, both copper and gold saw their prices rise in conjunction.

Nowadays, copper is also a vital material in electric vehicles (EVs), with recent demand for EVs also influencing the price of copper.

Silver Linings

As investors flocked to safety, silver’s price reached heights not seen since 2010.

The massive scale of monetary and fiscal stimulus led to inflationary fears, also boosting the price of silver. How does this compare to its returns over the last decade?

silver returns 2011-2020

In 2013, silver crashed over 35% as confidence grew in global markets. By contrast, in 2016, the Brexit referendum stirred uncertainty in global markets. Investors allocated money in silver, and prices shifted upwards.

As Gold as the Hills

Like silver, market uncertainty has historically boosted the price of gold.

What else contributed to gold’s rise?

  • U.S. debt continues to climb, pushing down confidence in the U.S. dollar
  • A weaker U.S. dollar makes gold cheaper for other countries to buy
  • Low interest rates kept the returns of other safe haven assets low, making gold more attractive by comparison

Here’s how the price of gold has changed in recent years.

gold returns 2011-2020

Gold faced its steepest recent declines in 2013, when the Federal Reserve bank discussed tapering down its quantitative easing program in light of economic recovery.

Hitting the Brakes On Oil

Oil suffered the worst commodity price performance in 2020, with -20.5% returns.

For the first time in history, oil prices went negative as demand plummeted. To limit its oversupply, oil producers shrunk investment, closed wells, and turned off valves. Unfortunately, many companies still faced bankruptcies. By November, 45 oil producers had proceeded with bankruptcy filings year-to-date.

This stood in stark contrast to 2019, when prices soared 34.5%.

oil returns 2011-2020

As is custom for oil, prices see-sawed over the decade. In 2016 and 2019, it witnessed gains of over 30%. However, like 2020, in 2014 it saw huge losses due to an oversupply of global petroleum.

In 2020, total production cuts hit 7.2 million barrels a day in December, equal to 7% of global demand, in response to COVID-19.

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